HKEX First-Half Net Profit HK$10.568 Billion, Up 24% YoY

On August 19, Hong Kong Exchanges and Clearing Limited (HKEX) released its 2026 interim results. In the first half of 2026, revenue and other income reached HK$16.702 billion, up 19% year-on-year; profit attributable to shareholders stood at HK$10.568 billion, up 24% year-on-year, with both figures setting new records. Boosted by the results, HKEX's share price closed at HK$414.6, up 2.37%. The performance was driven by robust corporate financing demand and higher trading volumes in cash, derivatives, and Stock Connect. In the first half, 87 new listings were recorded, raising a total of HK$212.4 billion, a surge of 94% year-on-year. Average daily turnover in the cash market rose 18% year-on-year to HK$283 billion, hitting a record high for the period; average daily derivatives contracts increased 6% to 1.8 million; average daily turnover under Shanghai Connect and Shenzhen Connect reached RMB 345.3 billion, more than double the level in the same period last year. Goldman Sachs and JPMorgan maintained "Buy" and "Overweight" ratings, respectively. Ahead of the results announcement, HKEX announced the renewal of CEO Bonnie Chan's contract for three years, with the new term running from March 1, 2027, to February 28, 2030, which has been approved by the Securities and Futures Commission. During the period, HKEX advanced consultations on shortening the stock settlement cycle, simplified board lot sizes, introduced the first ETF tracking the "HKEX Technology 100 Index," and announced the launch of Chinese government bond futures. In response to extending trading hours, Chan said the derivatives market already operates until 3 a.m. the following day, with priority on connecting with North American markets, while the cash market requires more thorough communication.