Hong Kong Bourse Posts 30% Drop in Profits on Trading Slump
- Bourse is dogged by slow trading, slow recovery in IPOs
- HKEX share price has slumped 44% this year amid deal drought
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Hong Kong’s stock exchange reported a 30% decline in profits, its sixth consecutive quarterly decline, as market turmoil drags down trading and initial public offerings.
Net income for the three months that ended in September at the Hong Kong Exchanges & Clearing Ltd. dropped to HK$2.26 billion ($288 million) from HK$3.25 billion a year earlier, according to a statement on Wednesday. That beat the HK$2.23 billion estimate in a survey of five analysts.