Business
HKEX Reports 7% Rise in Q3 Profit Amid Surge in IPOs, Turnover, and Investment Income: Funds Raised Hits HK$42.2 Billion
The third-quarter earnings of HKEX saw a 7% increase due to Initial Public Offerings (IPOs), turnover, and investment income. The capital accumulated from IPOs during the June to September quarter amounted to HK$42.2 billion, which is a six-fold increase compared to the same period last year.
The net gain increased by 7% annually, amounting to HK$3.15 billion (US$403 million), or HK$2.49 per share, in the quarter ending September, consistent with market analysts' predictions, as per the exchange filing. This marks HKEX's most profitable third quarter since earning HK$3.25 billion in the equivalent period in 2021.
The robust quarterly profits contributed to HKEX recording its second-highest profit over nine months, amounting to HK$9.27 billion, a figure that remains consistent with the previous year.
"The energy and variety of Hong Kong's markets were vividly showcased in late September when investor mood became more positive after the introduction of economic boost measures in mainland China and the relaxed monetary policies implemented by key central banks," stated CEO Bonnie Chan Yiting.
By consistently broadening our range of products, establishing global collaborations, and funneling resources into our facilities, we're perfectly poised to adapt to the changing global landscape and drive long-term expansion.
Half past nine
CEO of HKEX, Bonnie Chan, talks about developing a dynamic market in Hong Kong.
Shares of HKEX escalated to a peak of 4 per cent following the company's earnings announcement during lunchtime, but ended up closing with a 1.2 per cent increase at HK$314.80. So far this year, the stock has experienced a significant surge, almost 20 per cent.
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