HKEX, which operates Asia’s third-largest stock market by capitalisation, reported a 30 per cent profit growth in the third quarter on Friday. HKEX’s net profit in the first nine months of the year rose 31 per cent year on year to HK$9.27 billion, the second best nine-month profit posted by the exchange.
China’s local governments are issuing refinancing bonds to service outstanding liabilities associated with US$9 trillion of ‘hidden’ debt amid efforts by Beijing to defuse risks in its slowing economy.
China’s big banks are likely to face further pressure on their revenues and interest margins in the fourth quarter, as the world’s second-largest economy battles an ongoing property sector crisis and low consumer confidence, analysts said.
Pawn shops may have almost been pushed into oblivion in Hong Kong with the advent of convenient financial tools such as credit cards and emergence of online banks, but some are still willing to brave the odds.