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HKEX says Q1 profits jump 20 percent on trading, listing fees
May 10, 2017 / 4:45 AM / 7 months ago

HKEX says Q1 profits jump 20 percent on trading, listing fees

HONG KONG, May 10 (Reuters) - Hong Kong Exchanges & Clearing Ltd (HKEX) on Wednesday said first quarter profit jumped 20 percent year-on-year due to an uptick in core services, including trading and listing fees.

The operator of the Hong Kong Stock Exchange reported net profit of HK$1.72 billion ($220.92 million) for January-March. That compared with an analyst estimate of HK$1.48 billion, according to Thomson Reuters data.

Average daily turnover on the exchange increased by 2 percent from a year earlier to HK$74.3 billion amid an uptick in market sentiment, the bourse said, while listing fees rose 9 percent to HK$201 million.

Profits were also buoyed by a one-off interest payment of HK$55 million from the liquidators of Lehman Brothers Securities Asia Limited.

Trading of metals contracts on the London Metal Exchange, HKEX’s British subsidiary, fell 5 percent quarter-on-quarter.

HKEX’s share price has risen nearly 5 percent so far this year, versus a 12 percent increase in the benchmark index. ($1 = 7.7855 Hong Kong dollars) (Reporting by Michelle Price; Editing by Randy Fabi)

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