HKEX records 2nd-highest half-yearly revenue in H1 2023
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E-mail Xinhua, August 17, 2023
Photo taken on July 31, 2021 shows the statues on the square of Hong Kong Exchanges and Clearing Limited (HKEX) in south China's Hong Kong. [Photo/Xinhua]
Hong Kong Exchanges and Clearing Limited (HKEX) announced on Wednesday that despite global macro uncertainty and market fragility, its revenue and other income for the first half of 2023 was the second highest reported half-yearly revenue, after the record in H1 2021.
According to the HKEX 2023 Interim Results, its revenue and other income in the first half of 2023 was 10.575 billion HK dollars (about 1.35 billion U.S. dollars), 18 percent higher than a year earlier, and profit attributable to shareholders was 6.312 billion HK dollars, up 31 percent year-on-year.
Average daily turnover in Hong Kong's securities market was 115.5 billion HK dollars, decreased by 16 percent year-on-year, while the exchange-traded fund (ETF) market continued to perform well, with an average daily turnover of 11.7 billion HK dollars, up 21 percent, the report said.
The global initial public offering (IPO) market was weak, though Hong Kong performed relatively well, with 33 issuers raising 17.9 billion HK dollars during the first half of 2023, and the HKEX IPO pipeline remains strong with 104 active applications as of June 30, 2023.
Stock Connect continued to demonstrate its strength, with Southbound and Northbound trading up from the comparable 2022 period, and the addition of ETFs in Stock Connect adding further momentum to this resilient program, the report said.
Trading under Northbound Bond Connect recorded steady growth in the first six months of 2023, with an average daily turnover of 38.9 billion RMB (about 5.33 billion U.S. dollars), up 25 percent year-on-year.
Laura Cha Shih May-lung, chairperson of the HKEX, said in the report that the first six months of 2023 have been characterized by fragile sentiment across global markets. Notwithstanding this fragility, the HKEX had a good first half, demonstrating its continued resilience and relevance.
"Notably, the Group made significant progress on a number of major strategic initiatives, whilst also remaining fully focused on delivering its vision to build the Marketplace of the Future," she said. (1 U.S. dollar equals 7.83 HK dollars)
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