By Clarence Leong


Hong Kong Exchanges & Clearing Ltd.'s net profit fell 27% in the first half as weak overall market sentiment pressured its trading and clearing fees.

The exchange operator on Wednesday posted 4.84 billion Hong Kong dollars (US$617.2 million) in net profit for the first six months, down from HK$6.61 billion in the year-earlier period.

Revenue slid 13% to HK$8.79 billion, dragged by lower trading and clearing fees, driven partly by lower headline average daily turnover, it said. Headline ADT fell 27% to HK$138.3 billion, HKEX said.

The company's first-half results showed resilience, "set against a fragile global macro economic backdrop, ongoing geopolitical tensions, market volatility and the continued impact of the pandemic," HKEX Chief Executive Nicolas Aguzin said in a statement.

HKEX said that its pipeline for initial public offerings remained strong, with 189 active applications as of June 30.


Write to Clarence Leong at clarence.leong@wsj.com


(END) Dow Jones Newswires

08-17-22 0049ET