November 7, 2018 / 4:42 AM / in 13 days

Hong Kong exchange's Q3 profit rises 20 pct on higher trading income

HONG KONG, Nov 7 (Reuters) - Hong Kong Exchanges and Clearing (HKEX), the stock exchange operator in the Asian financial hub, reported a 20 percent rise in quarterly net profit, bolstered by higher trading and stock listing incomes.

HKEX posted a net profit of HK$2.4 billion ($306 million) in its fiscal third quarter ended September, up from HK$2 billion a year ago, the company said in a statement on Wednesday.

The bourse has seen a sharp surge in its net profits in recent quarters on the back of a slew of blockbuster initial public offerings, mainly from Chinese companies, this year, as well as increased trading on improved investor sentiment.

Trading fees in the third quarter increased 16 percent from a year earlier to HK$1.5 billion, while stock listing fees saw a 29 percent jump to HK$456 million, the exchange operator said in the statement. ($1 = 7.8335 Hong Kong dollars) (Reporting by Sumeet Chatterjee; Editing by Muralikumar Anantharaman)

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