|Bid||4.530 x 0|
|Ask||4.540 x 0|
|Day's Range||4.270 - 4.610|
|52 Week Range||2.000 - 5.600|
|Beta (3Y Monthly)||0.79|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Hong Kong Exchanges & Clearing Limited (HKEX) reported its best interim profit on record as more global funds used the city's cross-border investment channel to invest in Chinese stocks, after MSCI quadrupled the representation of China's A shares in its benchmarks.Revenue rose 5 per cent to HK$8.58 billion (US$1.1 billion) in the first half, while net profit increased 3 per cent to HK$5.2 billion, the highest since the bourse was established in 2000. Second-quarter profit advanced 5 per cent to HK$2.6 billion, based on South China Morning Post's calculations, missing the 9 per cent growth expected by analysts in a Bloomberg poll.International capital poured into Chinese stocks in the second quarter after MSCI announced its three-stage implementation in February, boosting income from the so-called Stock Connect investment channels by 39 per cent to a record HK$508 million, the exchange said."HKEX had a solid first half in 2019 despite a more challenging political and economic backdrop. Record Stock Connect revenue, a robust pipeline [of initial public offerings (IPOs)] and good returns from investment income offset some macro-driven softness in cash market volumes," said Charles Li Xiaojia, HKEX's chief executive, in a statement.Hong Kong Exchanges & Clearing Limited's Chairwoman Laura Cha Shih May-lung (left) and Chief Executive Officer Charles Li Xiaojia (right) handing out lai see packets on the first trading day after Lunar New Year celebrations on 8 February 2019. Photo: SCMP / Felix Wong alt=Hong Kong Exchanges & Clearing Limited's Chairwoman Laura Cha Shih May-lung (left) and Chief Executive Officer Charles Li Xiaojia (right) handing out lai see packets on the first trading day after Lunar New Year celebrations on 8 February 2019. Photo: SCMP / Felix WongMSCI, the compiler of the most-followed stock market benchmarks, said in February that it would quadruple the weighting of China's A shares to 20 per cent from 5 per cent, in a three-stage process ending in November. That draws international capital, especially from passive investors, who benchmark their performances against the index.FTSE Russell also announced to include China A shares in its global benchmark index in three tranches with the first tranche completed on June 21.The average daily turnover of northbound funds via the Hong Kong-Shanghai Connect more than doubled in the first half to a record 23.5 billion yuan (US$3.33 billion), while the cross-border investment channel to the Shenzhen exchange soared 137 per cent to 20.4 billion yuan everyday.As many as 84 companies raised a combined HK$71.8 billion in Hong Kong in the first six months, up 39 per cent from last year's first half, making Hong Kong the world's third-largest IPO destination.But the outlook has soured, as an escalation in the year-long US-China trade war pushed Hong Kong's economy into a slower second quarter, while unprecedented levels of public unrest in the city dampened moods. What began as a peaceful march on June 9 by an estimated 1 million protesters against a controversial extradition law has deteriorated into mayhem and street violence, with groups occupying public space, shopping centres and " for two days this week " the Hong Kong airport.SCMP Graphics alt=SCMP GraphicsThree companies have postponed their IPOs since June, deferring plans to raise a combined US$11.05 billion, in a setback to HKEX's race with New York as the world's fundraising capital. The withdrawals were led by the US$9.8 billion IPO by Anheuser-Busch InBev's Budweiser Asia unit, which would have been the largest in the world this year.The outlook is more gloomy as the July and August data showed the local market is going through its worst summer since 2012. July's listings halved to 15 companies, with their combined proceeds plummeting 57 per cent to US$1.65 billion, while a single company is scheduled to go to market in August."The outlook for the second half is pessimistic, due to downturns in both IPOs and the stock market's turnover," said Hantec Pacific's managing director Gordon Tsui Luen-on.Squeezed by shrinking trading income, Hong Kong's 27,327 licensed securities traders in 594 firms are likely to be cut by 10 per cent, brokers said.The average daily turnover on the Hong Kong exchange plunged 31 per cent in the first quarter, dropping 12 per cent in the second, compared with the same periods last year. For the first six months, average daily turnover fell 23 per cent to HK$97.9 billion, while derivatives trading decreased by 4 per cent, cutting the fee income from trading by 21 per cent.Still, the exchange is focused on its three-year strategic plan to transform itself into a global marketplace, adding a series of new financial instruments to its portfolio, including in-line warrants in July, US-dollar metal contracts in August and weekly index options contracts in September."We continue to focus on executing our three-year strategic plan, maintaining good cost discipline and capturing further growth opportunities," said Li, who is scheduled to meet the media at 4:30pm today.This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2019 South China Morning Post Publishers Ltd. All rights reserved. Copyright (c) 2019. South China Morning Post Publishers Ltd. All rights reserved.
The dramatic failure of brewer Budweiser APAC's $9.8 billion Hong Kong listing left "mom and pop" investors badly out of pocket, a local broker has said in an unusual series of full-page advertisements in newspapers across the city on Wednesday. Bright Smart Securities & Commodities Group Ltd urged bourse operator Hong Kong Exchanges and Clearing Ltd (HKEX) and regulator Securities and Futures Commission (SFC) to reform the listing process.
A former senior executive at Hong Kong's stock exchange operator, and two of his associates, have been arrested for suspected corruption in approving the listing applications of two companies, according to the city's anti-graft watchdog."A former joint head of the IPO vetting team of the listing department of the Hong Kong Exchanges & Clearing Limited (HKEX) and two of his associates were arrested by the ICAC for suspected corruption and misconduct in public office in relation to the vetting of listing applications of the two listed companies," a spokesman for the Independent Commission Against Corruption said in a statement on Wednesday night.The arrests came after the ICAC, for the second time in its history, joined forces with the Securities and Futures Commission, Hong Kong's financial regulator.The joint operation, code-named "cold mountain", started on Sunday when the two agencies searched the offices of two listing sponsors, investment banks licensed by the SFC.In addition, the ICAC searched a number of other premises, including the offices of the two listed companies and a financial printing company.Bronze sculptures of bulls, the symbol of the Hong Kong stock exchange, are seen at the Exchange Square in Central. Photo: Warton Li alt=Bronze sculptures of bulls, the symbol of the Hong Kong stock exchange, are seen at the Exchange Square in Central. Photo: Warton LiThe SFC said as part of the operation it was reviewing the "manner in which the stock exchange of Hong Kong has administered or dealt with listings". The SFC is the statutory regulator responsible for overseeing the stock exchange and its parent company HKEX."While enquiries are continuing, no further comments are available at this stage. The HKEX has rendered full assistance to the ICAC during its operation," the ICAC spokesman said.HKEX issued a statement saying the ICAC has been conducting an investigation into allegations of corruption concerning one of its former employees. Key figure in Convoy scandal surfaces in newspaper ad to defend himself"The ICAC is not investigating HKEX or any other HKEX employees," the HKEX announcement said."HKEX promotes the highest standards of integrity and professionalism across its business and takes this matter very seriously."HKEX is committed to ensuring that this is investigated in full and is providing the ICAC and the Securities and Futures Commission with its full assistance and cooperation in respect of the investigation into the specific allegations."In an attempt to attract more mega IPOs, the HKEX in April last year carried out the largest listing reform of the last 25 year to make it possible for big technology companies with dual shareholding structures, and pre-revenue biotech firms, to list.In the first half of this year, Hong Kong lost its IPO crown, dropping to No. 3 worldwide behind New York Stock Exchange and the Nasdaq, because of a lack of blockbuster listings.The last time the two agencies worked together was in December 2017 when they searched offices and made four arrests relating to financial advisory Convoy Global Holdings.On May 16, the ICAC charged Convoy's former director Roy Cho Kwai-chee with conspiracy to defraud the firm by leading it to invest more than HK$89 million (US$11.4 million) in a company he had links to.This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2019 South China Morning Post Publishers Ltd. All rights reserved. Copyright (c) 2019. South China Morning Post Publishers Ltd. All rights reserved.
The company behind the world's third-largest stock market has reformed to attract listings. Here are three things investors should consider about HKEX.
May 8 (Reuters) - Hong Kong Exchanges and Clearing Ltd : * QTRLY PROFIT ATTRIBUTABLE HK$ 2,608 MILLION VERSUS HK$2,562 MILLION * QTRLY REVENUE AND OTHER INCOME HK$ 4,288 MILLION VERSUS HK$4,150 MILLION ...
Hong Kong's stock exchange operator will partner with Euroclear, Europe's largest settlement house for securities, on new arrangements to help bring European Exchange Traded Funds (ETF) to Hong Kong, the companies said on Tuesday. Earlier this year, Hong Kong Exchanges and Clearing (HKEX) said it planned to become an ETF hub in Asia as part of its broader three-year strategic plan to make the exchange more relevant to global investors. This plan includes listing ETFs in Hong Kong, which are based on shares of companies trading on other bourses.
May 3 (Reuters) - Diary of Hong Kong (.HSI) corporate earnings for the week ahead. HONG KONG EARNINGS Start Date Start Time RIC Company Event Name (GMT) 07-May-2019 NTS 0002.HK CLP Holdings Ltd Q1 2019 ...
April 17 (Reuters) - Hong Kong Exchanges and Clearing Ltd : * FINAL DIVIDEND FOR 2012 OF HK$1.46/SHARE, REMAINING UNCLAIMED ON 31 MAY 2019, WILL BE FORFEITED, WILL REVERT TO HKEX Source text for Eikon: ...
SINGAPORE/HONG KONG, March 12 (Reuters) - Singapore Exchange Ltd, which generates half of its revenues from derivatives business, could see a dent in its earnings following a move by the Hong Kong exchange operator to launch Chinese A-share futures contracts, analysts said. Shares in SGX fell 1.6 percent on Tuesday after slumping 3.7 percent in the previous session when it clocked the worst slide in 13 months. On Monday, Hong Kong Exchanges and Clearing (HKEX) unveiled a deal with MSCI to provide futures contracts on the MSCI China A Index, putting it in direct competition with SGX - a leading venue for offshore investors to track Chinese A-shares via its FTSE China A50 contracts.
SHANGHAI/HONG KONG (Reuters) - Global index publisher MSCI and the Hong Kong stock exchange said on Monday they will launch futures contracts on the MSCI China A Index to provide a hedging tool as international investor interest in Chinese mainland shares surges. The license agreement between MSCI and Hong Kong Exchanges and Clearing Ltd (HKEX), which will launch the new product, comes less than two weeks after MSCI announced it would quadruple the weighting of Chinese shares in its global benchmarks later this year.
March 11 (Reuters) - Hong Kong Exchanges and Clearing Ltd : * UNIT SIGNED AN AGREEMENT WITH MSCI LIMITED * MSCI HAS AGREED TO LICENSE TO HKFE MSCI CHINA A INDEX FOR INTRODUCTION OF FUTURES CONTRACTS * ...
Hong Kong's stock exchange has suspended share purchases of Han's Laser Technology made from overseas through the city's stock connect with the Shenzhen bourse, after foreign ownership in the mainland firm neared the regulatory cap. According to the Shenzhen Stock Exchange's website, the proportion of Han's Laser Technology shares held by overseas shareholders reached 28.38 percent on Tuesday. Under Chinese rules, combined foreign ownership in a China-listed company must not exceed 30 percent, while the ownership cap for an individual overseas investor is 10 percent.
Feb 28 (Reuters) - Hong Kong Exchanges and Clearing Ltd : * HONG KONG EXCHANGES AND CLEARING ANNOUNCES STRATEGIC PLAN FOR 2019-2022 * AIMS TO FURTHER INCREASE INTERNATIONAL RELEVANCE TO CHINA AND ASIA, ...
Feb 27 (Reuters) - Hong Kong Exchanges and Clearing Ltd : * FY PROFIT ATTRIBUTABLE HK$ 9,312 MILLION VERSUS HK$7,404 MILLION * FY REVENUE AND OTHER INCOME HK$15,867 MILLION VERSUS HK$13,180 MILLION * FINAL ...
HONG KONG, Feb 27 (Reuters) - Hong Kong's stock exchange operator said on Wednesday its 2018 net profit surged 26 percent to a record high, just shy of market expectations, boosted by fees from a number ...
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Stuart Gulliver, former group chief executive of HSBC, and Joe Tsai, executive vice chairman of Alibaba, will advise the Hong Kong stock exchange operator on international developments, the company said on Thursday. Hong Kong Exchanges and Clearing (HKEX) said in a statement that it would form a new International Advisory Council to "contribute to HKEX's understanding of our global environment".
Hong Kong Exchanges and Clearing Ltd (HKEX), the stock exchange operator in the Asian financial hub, has agreed to buy a majority stake in a Chinese financial technology firm's unit to bolster the markets' technological capabilities. The financial details of HKEX's acquisition of a 51-percent stake in Ronghui Tongjin Technology Co Ltd, a unit of Shanghai-listed Shenzhen Kingdom Sci-Tech Co Ltd, were not disclosed.
Dec 20 (Reuters) - Hong Kong Exchanges and Clearing Ltd : * LEE KWOK KEUNG, ROGER WILL RETIRE EFFECTIVE 1 JANUARY 2019 FROM ALL HIS POSITIONS HELD WITHIN HKEX GROUP * TAI CHI KIN, CALVIN, TO SUCCEED LEE ...
The introduction of dual-class shares in some places is a threat to market fairness in Asia after two decades of steady progress, the Asian Corporate Governance Association said in a report.
Nov 27 (Reuters) - Tourism International Holdings Ltd : * HNA GROUP CO LTD'S LONG POSITION IN TOURISM INTERNATIONAL HOLDINGS LTD AT 0 PCT ON NOV 21 FROM 65.20 PCT PREVIOUSLY - HKEX FILING Source text: ...