Hong Kong Exchanges and Clearing reported a 31% year-on-year rise in net profit for the first six months of the year.
Hong Kong Exchanges and Clearing reported a 31% jump in net profit for the first six months of the year, compared to a year ago — and its CEO has expressed optimism about the medium-term outlook.
The strong numbers are attributed to the HKEX's "diversification away from just the cash business" and the "tremendous" growth of its ETF franchise, CEO Nicolas Aguzin told CNBC's Emily Tan on Wednesday. He added that the exchange also benefited from the increase in interest rates. HKEX's half-year net profit jumped to 6.31 billion Hong Kong dollars from HK$4.84 billion a year ago, boosted by the "robust growth" in its derivatives market, the exchange said in itsRevenue from its core businesses rose to HK$9.73 billion in the January to June period, up 5% year-on-year.
Aguzin acknowledged that investors are in an "environment of caution" right now, with geopolitics being one of the factors.
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