Hong Kong Bourse Quarterly Profit Declines, Worst Since ’09
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Hong Kong Exchanges & Clearing Ltd. missed earnings estimates, posting the lowest quarterly profit since the global financial crisis as turnover and listings fell at the world’s largest exchange operator by market value.
Net income fell 32 percent to HK$864 million ($111 million) for the three months ended Dec. 31, from HK$1.27 billion a year earlier, according to figures derived from the company’s full-year statement. That compares with the average HK$1.11 billion estimate of 3 analysts surveyed by Bloomberg News. The result was the worst since the first quarter of 2009.