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HKEx Reports Interim Profit of 554 Million HK Dollars
Hong Kong Exchanges and Clearing Limited (HKEx) has reported an unaudited consolidated profit after taxation of 554 million HK dollars (71 million U.S. dollars) for the six months ended June 30, 2000.
Average daily turnover value on the stock market rose by 134 percent to 14.8 billion HK dollars (1.9 billion U.S. dollars) in the period from January to June 2000, compared to the first six months of 1999, while average daily trading volume on the futures market fell by 36 percent to 19,223 contracts.
Group turnover for the first half of the year was 1,227 million HK dollars (157.3 million U.S. dollars), up 50 percent from a year ago.
"The process of integrating the businesses of the group's subsidiaries will continue in the second half of the current financial year," said Charles Lee, HKEx chairman.
"As a substantial part of the group's income is from transaction levy, clearing and settlement fees and interest income on margin funds, the results for the second six months of the current financial year will be highly dependent on the level of activity on the Stock Exchange and Futures Exchange," Lee said.
"HKEx made good progress during the first six months of its financial year as Hong Kong's economy continued to improve after some two years of recession," said Kwong Ki-chi, HKEx chief executive.
"The economic forecasts for Hong Kong, and internationally, are generally positive," Kwong noted. "These give cause for feeling reasonably optimistic about HKEx's results for the whole year."
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