not vested
HKEx net profit up 28pc to $7.4bby Janice Huang
Hong Kong Exchanges and Clearing (0388) will set up a market promotions team - similar to other stock exchanges that take measures to attract more companies to list, HKEx chief executive Charles Li Xiaojia said yesterday.
Li said 2018 may be a better year after HKEx recorded better-than-expected results in 2017. He added the local bourse will invest in hiring more staff in the listing department and setting up a new innovation lab.
As for the Southbound Bond Connect, he said there is no specific timeline, but the research work has begun.
HKEx posted net profit of HK$7.4 billion for the fiscal year ended December 31, up 28 percent from HK$5.8 billion in 2016.
Revenue and other income climbed 19 percent to HK$13.18 billion last year.
The stock exchange operator said in a filing that the growth was mainly due to higher trading and clearing fees, driven by a 32 percent rise in cash market turnover. This was partly offset by lower Hong Kong Futures Exchange volumes and London Metal Exchange revenue.
Meanwhile, the increase in listing fees, as well as a significant gain in net investment income from both corporate and margin funds contributed to revenue growth.
Earnings per share were HK$6.03 and a final dividend of HK$2.85 a share was declared.
Li said in the 2017 final results report that HKEx will make the initial public offering market more relevant, equity market more connected, and derivatives market more competitive.
He added the key areas of focus this year include implementing listing reform, extension of Stock Connect by including Exchange Traded Funds and other assets, building of new product ecosystems, and the launch of derivative products with mainland underlyings, as well as the launch of new trading systems in the securities and derivatives markets.
Moreover, HKEx revealed that since Bond Connect Northbound trading launched on July 3, 2017, the overall foreign investor holdings in the China Interbank Bond Market domestic debt securities have reached 1.147 trillion yuan (HK$1.42 trillion) an increase of 36 percent from June 30, 2017
Source: The Standard
http://www.thestandard.com.hk/section-n ... 0301&sid=2
It's all about "how much you made when you were right" & "how little you lost when you were wrong"