HKEx profit surges 35 percent in Q1

16:12, May 13, 2010      

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Hong Kong Exchanges & Clearing ( HKEx) saw a 35 percent year-on-year surge in profit in the first quarter of this year, which totaled about 1.13 billion HK dollars (144.93 million U.S. dollars), said the company on Wednesday.

HKEx recorded income of 1.71 billion HK dollars, with a 28 percent year-on-year increase, from January to March in 2010, while operating expenses rose 9 percent to 385 million HK dollars, said the company in its first quarter results announcement released Wednesday.

The average daily turnover value on the Stock Exchange was 64. 8 billion HK dollars, 45 percent higher than the same period last year.

Initial public offerings continued to be active in the first quarter with 13 new listings against seven in 2009. The total equity funds raised amounted to 87.1 billion HK dollars, which was more than five times the figure a year ago.

HKEx Chairman Ronald Arculli said while global economies were recovering at various paces, potential mounting protectionism and concern over inflation in various countries was creating uncertainty.

Governments and central banks around the world were carefully planning exits from their stimulus measures, and their decisions would undoubtedly have a significant impact on the global economic performance ahead, he said.

"As such, we remain vigilant about such situations and the impact it may have on international financial markets and developments. However, we continue to focus on maintaining an orderly, informed and fair market in Hong Kong," he said. (1 U.S. dollar is equivalent to 7.776 HK dollars)



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