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Hong Kong exchange Q3 profit jumps 32 pct as trading fees rise
November 8, 2017 / 4:33 AM / 15 days ago

Hong Kong exchange Q3 profit jumps 32 pct as trading fees rise

HONG KONG, Nov 8 (Reuters) - Hong Kong Exchanges & Clearing Ltd (HKEX) reported a 32 percent rise in its quarterly profit, helped by a surge in fees it levies on trading as well as stock listing as more companies tapped the Asian financial hub to raise funds.

The stock exchange operator of Hong Kong, which was the world’s top IPO market in 2015 and 2016, benefitted from an improvement in investor sentiment that has translated into higher trading activity this year.

HKEX earned HK$2 billion ($256.3 million) for its third quarter ended in September, compared with a profit of HK$1.5 billion in the same period last year. That compared with the HK$1.8 billion average analyst forecast for profit, according to Thomson Reuters Eikon data.

Trading fees rose 18 percent to HK$1.3 billion, while stock listing fees saw a 27 percent jump to HK$354 million during the quarter, the exchange operator said in its quarterly financial filings. ($1 = 7.8037 Hong Kong dollars) (Reporting by Sumeet Chatterjee; Editing by Gopakumar Warrier)

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