Hong Kong Exchange Net Rises 54% To A Record $1 Billion

March 2, 2016

NewsStandOnline.Net (2-March-2016): Hong Kong Exchanges & Clearing Ltd., the most valuable exchange operator in Asia, said full-year earnings rose to a record on higher trading turnover.

Net income jumped 54 percent to HK$7.96 billion ($1 billion) last year, up from HK$5.17 billion a year earlier, the exchange said in a statement earlier today. Revenue increased 36 percent to HK$13.38 billion in the period.

Analysts were expecting net income of HK$8 billion, according to data compiled by analysts.

Hong Kong Exchange Net Rises 54 To A Record $1 Billion

The bourse, which plans to introduce new index and currency futures, saw its average daily stock trading turnover rise 52 percent to HK$105.6 billion last year, though the fourth quarter saw a decline to $71.9 billion.

Operating expenses increased by 11 percent to HK$3.29 billion, mainly because of additional headcount, HKEx said.

The company’s shares rose 3.4 percent to close at HK$174.80 at the midday break in Hong Kong trading.