Hong Kong stock exchange Q3 profit jumps on higher trading volumes
[HONG KONG] Hong Kong Exchanges & Clearing Ltd (HKEx) said on Wednesday its third-quarter profit surged 80 per cent, boosted by higher trading volumes as jitters over the health of China's economy stoked volatility in shares on the city's bourse.
HKEx's net profit climbed to HK$2.3 billion (S$421.6 million) in July-September, compared with HK$1.28 billion in the same period a year ago. That was well above analysts' estimates of HK$1.89 billion, according to data compiled by Thomson Reuters.
"Growth in trading and clearing income came from a significant increase in market activity on the cash and derivatives markets in Hong Kong," the world's biggest listed stock exchange said in a statement.
HKEx said the group also booked a one-off gain from disposal of a leasehold property during the quarter.
HKEx's own shares have risen 24 per cent so far this year, compared with a 4 per cent decline in the main Hong Kong benchmark. The promise of a link with Shenzhen's stock exchange, expected in coming months, has further boosted HKEx's share price in recent weeks.
REUTERS
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