HONG KONG Nov 7 Hong Kong Exchanges and
Clearing Ltd, the world's No.2 exchange operator by
market value, reported a 19 percent drop in third-quarter net
profit on a sharp decline in trading volumes and a pullback in
new listings, but the result beat estimates.
HKEx said it made a net profit of HK$1.004 billion ($129.5
million) i n July-September, down from the HK$1.24 billion earned
a year earlier. This compares with expectations for HK$938
million, according to data from Thomson Reuters I/B/E/S.
Average daily turnover, a key determinant of exchange
income, fell 27 percent in the first nine months of this year.
To combat this, the HKEx bought the London Metal Exchange in
June this year to expand into commodities trading.