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28 Apr, 2021 Author Rebecca Isjwara
Hong Kong Exchanges and Clearing Ltd. is facing a softening in trading volumes as it enters the second quarter after a record performance in the first three months of 2021, though the bourse operator expects to attract more liquidity from mainland China and stay one of the world s top IPO destinations. It s only April, I can t say too much about the projection of the second quarter, the exchange s interim CEO Calvin Tai said at an April 28 earnings call with journalists. When I say softer, it s in comparison to the first quarter, which is exceptional. If we look at April volume, even though we said softer, it s still roughly 20% higher than the ADT [average daily turnover] last year. While the market liquidity is still pretty high, we ve seen that it s not as high as in January or February.
Biz / Finance Xinhua 23:31 UTC+8, 2021-04-29 0
Three years after major listing reforms, new economy companies make up the bulk of Hong Kong s initial public offerings, fueling a new growth story of the global financial hub. Xinhua 23:31 UTC+8, 2021-04-29 0
Three years after major listing reforms, new economy companies make up the bulk of Hong Kong’s initial public offerings, fueling a new growth story of the global financial hub.
The reforms, which came into force in April 2018, allow pre-revenue biotech companies, new economy firms with weighted voting rights structures, and qualified overseas-listed companies to raise capital in Hong Kong.
By end-March, 146 such companies had listed in Hong Kong since then, rai
HKEX Releases First Quarterly Results For 2021 Date
“HKEX has had a strong start to 2021, reporting record quarterly revenue and other income, and profit. This was driven by a buoyant IPO market and very robust trading volumes, with headline ADT and Stock Connect having their best quarter ever. Set against a challenging economic and geopolitical backdrop, we continue to execute on our Strategic Plan 2019- 2021, driving performance and delivery, demonstrating our resiliency and remaining responsive to both the needs of our customers and the broader market. We continue to manage our costs and risks and I am confident we remain well-placed to capture future growth opportunities.”
Hong Kong exchange messages record gains in the trade and IPO boom
The Hong Kong stock exchange operator has achieved the best quarterly profit ever as a result of trade floods and the initial public offering boosted the stock market before it took over the new CEO.
Hong Kong Exchanges and Clearing said on Wednesday that post-tax earnings fell by 70 per cent a year in the first quarter to HK $ 3.8 billion (US $ 490 million) in turnover and list-based core business revenues rose by more than a third to record HK $ 5.5bn. Investment income earned $ 418 million from a loss in the first quarter of 2020.