Hong Kong Exchanges and Clearing (HKEX), which runs the region’s stock and futures markets, reported on Wednesday a better-than-expected net profit growth of 20 percent for the first quarter of 2017, due to rising stock market turnover and an increasing number of new listings.
The operator of the Hong Kong Stock Exchange saw a net profit of 1.72 billion Hong Kong dollars (220.92 million US dollars) from January to March, Reuters reported.
Stock prices are displayed on an electronic ticker and an electronic board at the Hong Kong Stock Exchange in Hong Kong, China. /CFP Photo
Revenue and other income for the first three months of the year was 11 percent higher than in the same period in 2016, HKEX also said, attributing to an increase in Stock Exchange listing fees, as well as a one-off interest payment of 55 million Hong Kong dollars from the liquidators of Lehman Brothers Securities Asia Limited.
Hong Kong stocks closed up 126.39 points, or 0.51 percent, to 25,015.42 points on Wednesday. The benchmark Hang Seng Index traded between 24,931.82 and 25,164.97, with a total turnover of 93.64 billion Hong Kong dollars (12.03 billion US dollars).
China’s STCN.com, a People’s Daily affiliate that focuses on securities reports, said that the increase of average daily turnover in comparison to the last quarter performed better than most stock exchanges in the Asia Pacific and even the world, signaling an improved sentiment in both Chinese mainland and Hong Kong.
