Hong Kong bourse’s 2024 profit rises 10% to a record on surging stock transactions, IPOs
Hong Kong Exchanges and Clearing (HKEX) reported a record annual profit for 2024, reaching HK$13 billion (US$1.7 billion), a 10% increase from the previous year. This surge in profit, surpassing market expectations, was driven by higher market turnover and a surge in new listings, particularly following a market rally that began in September.
The strong performance in the final quarter of 2024, with a 46% jump in profit, was attributed to falling interest rates and China's stimulus measures aimed at supporting the economy. CEO Bonnie Chan highlighted the strategic progress made in 2024, including initiatives to enhance market microstructure and the listing franchise, which reinforced Hong Kong's position as a leading international financial center. HKEX has proposed a second interim dividend of HK$4.90 per share, bringing the total dividend for the year to HK$9.26, maintaining a payout ratio of 90% of earnings.
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Hong Kong Exchanges and Clearing (HKEX) reported a record annual profit for 2024, reaching HK$13 billion (US$1.7 billion), a 10% increase from the previous year. This surge in profit, surpassing market expectations, was driven by higher market turnover and a surge in new listings, particularly following a market rally that began in September.
The strong performance in the final quarter of 2024, with a 46% jump in profit, was attributed to falling interest rates and China's stimulus measures aimed at supporting the economy. CEO Bonnie Chan highlighted the strategic progress made in 2024, including initiatives to enhance market microstructure and the listing franchise, which reinforced Hong Kong's position as a leading international financial center. HKEX has proposed a second interim dividend of HK$4.90 per share, bringing the total dividend for the year to HK$9.26, maintaining a payout ratio of 90% of earnings.
via SCMP Full Text Feed
