Hong Kong Exchanges Clearing (HKEx) saw a 140 percent
year-on-year surge in the profit attributable to shareholders in
the first three quarters of this year, HKEX announced here
Wednesday.
HKEx's profit attributable to shareholders was 4.01 billion HK
dollars, with basic earnings per share at 3.76 HK dollars.
The institution recorded income of 5.5 billion HK dollars in the
first three quarters, up 93 percent on a year earlier, while
operating expenses rose 15 percent to 1.03 billion HK dollars.
The average daily turnover value on the Stock Exchange was 72.4
billion HK dollars, 138 percent higher than the same period last
year. The average daily number of derivatives contracts traded on
the Futures Exchange rose 69 percent to 163,664, while stock-
options contracts traded on the Stock Exchange rose 161 percent to
168,392.
The rise in profit was mainly attributable to the higher
turnover-related income resulting from the increase in level of
activities in the cash and derivatives markets, which was partly
driven by the improved market sentiment following the relaxation of
rules governing the permissible investments under the Qualified
Domestic Institutional Investor scheme and the proposed pilot
program for direct foreign portfolio investments by domestic
individuals.
HKEx Chairman Ronald Arculli said the expansion of the QDII
scheme in the first half of 2007 as well as the anticipated
implementation of the pilot program should present new
opportunities for the growth of the financial market in Hong
Kong.
HKEx will continue to support the Mainland authorities in
preparing for the implementation of the program, he added.
However, alongside positive factors, other potentially negative
ones could dent market sentiment and investor confidence. These
include a possible global economic slowdown, lingering volatility
in the international credit and asset markets, and growing concern
about domestic inflation which could lead the Central Government to
implement measures to cool the mainland economy, he said.
"HKEx will remain vigilant in monitoring market movements and
possible repercussions. It also remains focused on enhancing market
quality for Hong Kong to hold up well in the face of global market
changes," said the chairman.
(Xinhua News Agency November 15, 2007)
