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HKEx Records 69 Percent Increase of Net Profits in 2000
Hong Kong Exchanges and Clearing Limited (HKEx) announced here Tuesday that its net profit increased 69 percent to 878.9 million HK dollars (US$112.7 million) in 2000.
The increase, which is in line with the market expectation, was mainly due to a 27 percent growth in total income while costs edged up moderately by 6 percent.
The total income of 2,312 million HK dollars (US$296.4 million) came mainly from the buoyant cash market in 2000. Average daily turnover of the cash market registered a growth of 63 percent mainly on account of the bullish sentiment in early 2000, the robust US stock markets and the resumption of economic growth in Hong Kong.
HKEx, the marketplace for stocks and futures in the city, began trading on the stock exchange of Hong Kong on June 27, 2000.
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