The exchange has been struggling this year amid a decline in trading and dearth of initial public offerings, even as rising interest rates have boosted investment income. Trading saw improvements in the quarter, but is still down for the year.
Hong Kong’s stock exchange beat profit estimates in the third quarter as investment income increased and trading volumes rebounded.
Hong Kong Exchanges & Clearing Ltd.’s net income rose 30% to HK$2.95 billion ($517.7 million) in the quarter, according to a statement on Friday. The result beat a HK$2.8 billion estimate in a Bloomberg survey of analysts. Core revenue, excluding investment income, was up 9% during the period.
