HONG KONG, Nov 2 (Reuters) - Hong Kong Exchanges & Clearing Ltd’s (HKEX) third-quarter profit fell 33 percent as lower trading volumes pushed down fees from buying and selling shares and commodities contracts.
The operator of the Hong Kong stock exchange posted a net profit of HK$1.55 billion ($200 million) for July-September according to a Reuters calculation based on a statement from HKEX. Two analysts had forecast an average profit of HK$1.57 billion, according to Thomson Reuters data.
Average daily trading on the stock exchange for the first nine months of the year fell 42 percent compared with the year-ago period when extreme volatility in mainland Chinese markets drove strong volumes on the Hong Kong bourse.
The London Metal Exchange (LME), an HKEX subsidiary, saw a 10 percent decline in average daily trading of metals contracts during the same period, the bourse said.
HKEX’s share price has risen 2.3 percent so far this year, versus a 4.1 percent gain in the main Hong Kong benchmark . (Reporting by Michelle Price; Editing by Muralikumar Anantharaman)
Our Standards: The Thomson Reuters Trust Principles.