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HKEX’s profit falls for second straight quarter on weak trading, listings

Hong Kong Exchanges & Clearing said first-quarter net profit fell 13% from a year earlier to $379.1m

By

Kimberley Kao

, The Wall Street Journal

HKEX is struggling to boost performance as it faces headwinds including a prolonged stock-market slump, concerns about China’s economy and foreign investors exiting the city.
HKEX is struggling to boost performance as it faces headwinds including a prolonged stock-market slump, concerns about China’s economy and foreign investors exiting the city. Photo: Tyrone Siu/REUTERS

Hong Kong’s stock-exchange operator reported lower net profit for the second straight quarter, with poor market sentiment cutting further into trading and listing activity in the Asian financial hub.

Hong Kong Exchanges & Clearing said on 24 April that its first-quarter net profit fell 13% from a year earlier to 2.97 billion Hong Kong dollars ($379.1m).

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