1Q HKEX net profit declines 13% to 2.97B HKD due to weak trading activity and poor market sentiment.
Hong Kong Exchanges & Clearing (HKEX) saw its net profit decline for a second consecutive quarter due to weak trading activity and poor market sentiment. HKEX's first-quarter net profit fell 13% from a year earlier to 2.97 billion HKD (US$379.1 million), with revenue dropping to HK$5.20 billion from HK$5.56 billion. The headline average daily turnover fell 22% to HK$99.4 billion in the quarter amid geopolitical tensions and macroeconomic volatility.
April 24, 2024
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