Hong Kong Bourse Posts Record Profit on Listings, Trading

Hong Kong Exchanges & Clearing Ltd. reported record first-quarter profit as a surge in initial public offerings and robust trading volumes cemented its status as the top global fundraising venue.

Net income climbed 27% to HK$5.2 billion ($668 million) in the three months ended March, the exchange said in a statement Wednesday. That beat the HK$4.6 billion consensus estimate from a Bloomberg survey of six analysts. Core revenue rose 22% to HK$7.7 billion.