spot_img
HomeNewsHKEX first-half web revenue rises 31%, CEO is 'fairly optimistic' about medium...

HKEX first-half web revenue rises 31%, CEO is ‘fairly optimistic’ about medium time period outlook Receive US

Hong Kong Exchanges and Clearing reported a 31% leap in web revenue for the primary six months of the yr, in comparison with a yr in the past — and its CEO has expressed optimism concerning the medium-term outlook.

The sturdy numbers are attributed to the HKEX’s “diversification away from simply the money enterprise” and the “great” progress of its ETF franchise, CEO Nicolas Aguzin instructed CNBC’s Emily Tan on Wednesday. He added that the change additionally benefited from the rise in rates of interest.

HKEX’s half-year web revenue jumped to six.31 billion Hong Kong {dollars} ($806.6 million) from HK$4.84 billion a yr in the past, boosted by the “strong progress” in its derivatives market, the change stated in its press release.

Income from its core companies rose to HK$9.73 billion within the January to June interval, up 5% year-on-year.

Aguzin acknowledged that traders are in an “setting of warning” proper now, with geopolitics being one of many elements. Nonetheless, he expressed optimism for the change’s close to time period outlook, on hopes of decrease inflation numbers and extra stimulus from China.

“We’re fairly optimistic concerning the medium time period on condition that we have seen a bit of bit extra predictability when it comes to the route of inflation, [with] inflation coming down,” he stated, including he is looking forward to “further stimulus that has been introduced from the mainland.”

China unexpectedly lower charges this week in a bid to prop up the flailing financial system. The highest management has pledged stimulus measures to assist particular sectors, promote investments and increase client confidence.

In the meantime, there are indicators that international inflation is lastly coming down. The U.S. client worth index climbed 3.2% from a yr in the past in July, an indication that inflation has misplaced no less than a few of its grip on the U.S. financial system.

When requested about Hong Kong’s standing as a capital elevating hub when it comes to the rankings for its IPOs, Aguzin stated: “We’re the long run and alternative.”

Hong Kong’s inventory market was among the many worst-performing in 2022, losing 15% that yr.

“We’re already a market for brand spanking new financial system [companies], there’s over 110 corporations proper now which might be ready to go to the market, and so they’re ready for … the fitting market sentiment to have the ability to do this,” the CEO stated.

#HKEX #firsthalf #web #revenue #rises #CEO #optimistic #medium #time period #outlook

RELATED ARTICLES
Continue to the category

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -spot_img

Most Popular

Recent Comments