HKEx Q2 profit rises slightly, beats expectations

HONG KONG Wed Aug 6, 2014 12:20am EDT

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HONG KONG Aug 6 (Reuters) - Hong Kong Exchanges & Clearing Ltd (HKEx), the world's largest listed stock market operator, posted a 1 percent rise in second-quarter net profit, as an increase in listing fees offset weaker share trading volumes.

Net profit rose to HK$1.19 billion in April-June from HK$1.17 billion a year earlier, according to a Reuters calculation from an HKEx statement on Wednesday. That was better than the average estimate of five analysts polled by Reuters, who had expected profit for the quarter to fall to HK$1.1 billion.

Shares in HKEx have surged 35 percent this year, compared with a 6 percent rise in the benchmark Hang Seng index, with investors betting that the proposed stock trading link between Hong Kong and Shanghai will boost trading volumes. (Reporting By Lawrence White, additional reporting by Michelle Price; Editing by Denny Thomas and Subhranshu Sahu)

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