By Selena Li
HONG KONG (Reuters) – Hong Kong’s bourse operator said it’s cautiously optimistic for the year despite a 3% drop in first-half profits on sluggish trading and subdued listing activities, as market revenue warmed up in the second quarter.
The profit attributable to shareholders of Hong Kong Exchanges and Clearing Ltd (HKEX) fell to HK$6.13 billion ($787 million)in the first six months of the year, behind analysts’ forecasts of HK$6.14 billion compiled by LSEG.
Its core revenue remained flat in the first half compared with a year earlier, but quarterly income from April to June rose 9% to HK$3.16 billion.
The results were supported by increases in trading and clearing fees from higher volumes across the cash, derivatives and commodities markets, according to HKEX’s earnings statement.
“Looking ahead, while macro-environment uncertainties persist, we remain cautiously optimistic about the outlook for the rest of the year,” Chief Executive Bonnie Chan said in the statement.
($1 = 7.7906 Hong Kong dollars)
(Reporting by Selena Li; Editing by Kim Coghill and Tom Hogue)
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