HKEX profit rises 15% to HK$15.4 billion in first nine months
Key Facts
Hong Kong Exchanges and Clearing (HKEX) posted record profit and revenue in the first nine months of 2026, as profit attributable to shareholders rose 15% year on year to HK$15.4 billion, equivalent to US$1.96 billion. Revenue and other income increased 12% to HK$24.6 billion, China Daily reported. The results came during a period of record trading volumes in the cash and derivatives markets and the Stock Connect cross-border trading program. But the cumulative performance masked a slowdown in the third quarter, when profit and revenue fell from the record second quarter. HKEX shares in Hong Kong fell on Friday, November 6, signaling the market’s reception of the weaker quarterly results.
Trading data reflected stronger activity over the nine months, with average daily turnover in the cash market rising 6% year on year to HK$272.9 billion. Average daily derivatives trading volume also increased 2% to 1.7 million contracts, according to China Daily. The newspaper said trading volumes in the cash and derivatives markets and Stock Connect reached records for the period. This points to broader activity across market instruments during most of the period, alongside an increase in group revenue. The coverage does not attribute the record increase in profit and revenue directly to these figures alone.
New listings added to market activity, with 118 newly listed companies raising HK$388.4 billion in the first nine months. Proceeds were more than double the amount raised by companies in the same period a year earlier, according to China Daily. Hong Kong ranked as the world’s second-largest IPO market by funds raised during the period. The surge added another source of activity alongside stock and derivatives trading, as new companies sought to raise financing through the market. The return of strong IPO activity coincided with HKEX posting record profit and revenue for the nine-month period.
By contrast, profit attributable to shareholders fell 1% year on year to HK$4.86 billion in the third quarter. Profit was 10% below its record level in the second quarter, China Daily reported. Revenue and other income rose 1% year on year to HK$7.87 billion, but fell 7% from the previous quarter. These results came alongside an 11% year-on-year decline in the main average daily cash turnover and a 12% fall from the record level recorded in the second quarter. The quarterly figures thus showed activity cooling from its previous peak, even as results for the nine months overall remained at record levels.
HKEX attributed cautious market sentiment to inflation concerns, uncertainty over U.S. interest rates and weak momentum in AI stocks, according to China Daily. Chief Executive Bonnie Chan said global investors’ reconsideration of capital allocation strategies made this “a pivotal moment for Hong Kong’s markets.” Her comments came as average cash turnover in the third quarter fell from its record level in the second quarter. Quarterly operating expenses also rose 8% to HK$1.60 billion, which Investing.com coverage attributed mainly to higher staff and IT costs. For the nine months, EBITDA rose 14% to HK$19.61 billion, while its margin widened by 1 percentage point to 80%.
HKEX’s Hong Kong-listed shares fell 2.28% on Friday, November 6, to close at HK$385.6, with daily turnover of HK$1.74 billion, according to China Daily. In the previous session, the U.S. depositary receipt HKXCY closed at US$49.46 on November 5, according to EL7 data. The two figures refer to different instruments and sessions: the first is HKEX shares in Hong Kong, while the second is HKXCY in the U.S. market. The Hong Kong share decline followed the release of third-quarter results that included a fall in profit from the previous quarter’s record. Even so, the nine-month totals remained records for profit and revenue.