Hong Kong Exchanges and Clearing Ltd. 2016 net profit falls 27%
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Hong Kong - Arab Today
Hong Kong’s stock exchange operator said on Monday its 2016 net profit fell 27 percent due to a decline in fees generated by stocks and metals trading on the bourse as it struggled to match stellar volumes seen during 2015’s record rally.
Hong Kong Exchanges and Clearing Ltd. (HKEX) reported a net profit of HK$5.8 billion ($747.36 million) for 2016, according to Thomson Reuters data.
“The global financial markets were volatile and overshadowed by political and economic uncertainties. At home, there were concerns that mainland China’s economy was slowing down and that interest rates would rise. All these contributed to cautious sentiment among investors and created a challenging market environment for the Group,” HKEX said in a statement.
Source: Arab News
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