Hong Kong Stock Exchange’s Profit Drops on Weaker Trading
(Beijing) — The Hong Kong Stock Exchange operator reported a 27% drop in profits in 2016 as fees earned from stock and metals trading slumped as political and economic uncertainty around the world led to volatility on global financial markets.
Net profit attributable to shareholders declined to HK$5.77 billion ($747.4 million), or HK$4.76 per share, Hong Kong Exchanges and Clearing Ltd. (HKEX) said on Monday in a statement announcing its annual results. Revenue and other income fell by 17% to HK$11.1 billion.
- 1China Asks Banks to Assess Credit Risks Linked to Firms Active in Overseas Deals
- 2Beijing Is Soaking Wet
- 3Authorities Investigate Claims of Cadmium-Laced Wheat From Central China
- 4Weibo and Other Websites Barred From Video Streaming by Authority
- 5Real Estate Tycoon Removed as Political Adviser Over Bribery Allegation