Hong Kong exchange’s Q1 earnings up 28%

📆 4/26/2023 2:43 AM
📰 ChannelNewsAsia

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HONG KONG : Hong Kong's bourse operator on Wednesday reported a 28 per cent increase in first-quarter profit. The profit attributable to Hong Kong Exchanges and Clearing Ltd (HKEX) in the first quarter rose to HK$3.41 billion ($434 million) from HK$2.67 billion in the same period of 2022, according to its ear

HKEX said its revenues in the first quarter was up 19 per cent to HK$5.56 billion, the second-highest on record, mainly due to higher net investment income from margin funds and clearing house funds.

"The year has got off to a very good start, with HKEX reporting one of its best quarters ever," said Nicolas Aguzin, HKEX's chief executive. HKEX's profit increase comes as challenging macroeconomic conditions have continued to impact capital markets. HKEX's trading fees of equity products for the first quarter were $836 million, a 13 per cent decrease compared with the total trading fees and tariffs of $962 million in the first quarter last year.

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