Profits at Hong Kong’s stock exchange hit a record high in the first half as the prospect of forced delistings from US bourses encouraged Chinese tech groups to list billions of dollars of shares in the city.
But Hong Kong Exchanges & Clearing’s stock fell following the company’s results on Wednesday, as the revenue windfall from big-ticket share sales by internet businesses including NetEase and JD.com proved smaller than some investors had hoped.
Core revenues rose 6 per cent from a year ago to HK$3.5bn in the second quarter, coming in a touch shy of consensus analyst estimates compiled by Citi.
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