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Hong Kong Bourse Redeems Investments After Profit Miss

  • Profit slides 22% in second quarter in fifth consecutive drop
  • Analysts see rebound for bourse after trading, IPO drought
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HKEX CEO on Second-Quarter, IPOs, China Delistings
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Hong Kong’s stock exchange is redeeming some of its external investment portfolio after profit slid more than estimated, weighed down by falling markets, trading and initial public offerings.

Hong Kong Exchanges & Clearing Ltd. has been hurt by sliding markets and the still tight Covid restrictions that have prevented bankers from traveling, while more mainland Chinese firms are seeking to list on rival bourses in Shanghai and Shenzhen. In the first half, IPOs were down more than 90%, while overall trading volumes slid 27%.