Hong Kong Exchanges and Clearing (HKEX), which operates Asia’s third-largest inventory market, reported a 13 per cent drop in revenue for the primary quarter as fewer new listings and decrease turnover took a toll.
Internet revenue for the January-to-March interval got here in at HK$2.97 billion (US$380 million), or HK$2.35 per share, which was higher than a consensus estimate compiled by Bloomberg for a 14 per cent decline to HK$2.79 billion.
Whole income within the first quarter declined 6 per cent to HK$5.2 billion, beating analysts’ estimates of HK$4.96 billion.
“HKEX demonstrated its power and resilience within the first quarter of the 12 months,” Bonnie Chan Yiting, its newly appointed CEO, stated in a press release issued throughout the midday buying and selling break on Friday.
“Regardless of a fragile world backdrop, the group’s derivatives and commodities enterprise carried out strongly – the previous reaching document quarterly volumes.
“While the money market mirrored broader macro sentiment and remained delicate, there was a notable uptick in headline common day by day turnover in March and April, indicating rising investor confidence.”
The HKEX chairman Laura Cha Shih Could-lung will host her final annual basic assembly this afternoon, earlier than stepping down from the position she has held for six years.
The change’s new board of administrators will instantly select a brand new chairman amid market hypothesis that former Securities and Futures Fee chairman Carlson Tong Ka-shing is in line for the job.
HKEX’s shares closed 1.2 per cent increased at HK$233.6 at lunchtime on Wednesday forward of the outcomes announcement. They’ve declined 11 per cent this 12 months.
