Hong Kong’s bourse operator on Wednesday reported a 30% drop in third quarter profits as rising rates, inflationary pressure and geopolitical tensions hurt fees generated from trading and listing activities.
The profit attributable of Hong Kong Exchanges and Clearing (HKEX) in the third quarter slumped to HK$2.26 billion from HK$3.25 billion the same period last year.
Revenue of the bourse in the quarter dropped by 23% from HK$5.31 billion to HK$3.94 billion, dragged down by weaker cash market turnover due to lower market liquidity and sluggish trading.
Source: www.cnbc.com