HKEX first-half profits drop, but 2Q earnings rise
Hong Kong Exchanges and Clearing (HKEX) on Wednesday announced that its first-half net profit for 2024 dropped three percent year-on-year to HK$6.13 billion. The city's bourse operator said it would pay an interim dividend of HK$4.36 per share, three percent lower compared with the same period last year. Still, HKEX said net income for the second quarter, covering April to June, rose nine percent to HK$3.16 billion. The results were supported by the growth in trading and clearing fees from higher volumes across the cash, derivatives and commodities markets, according to HKEX's earnings statement. HKEX's Chief Executive Bonnie Chan said sentiment appears to be on the mend. "Looking ahead, while macro-environment uncertainties persist, we remain cautiously optimistic about the outlook for the rest of the year," she added. (Additional reporting by AFP)