By Kimberley Kao


Hong Kong Exchanges & Clearing's net profit fell for a second consecutive quarter due to weak trading activity amid poor market sentiment.

The stock-exchange operator said Wednesday that its first-quarter net profit fell 13% from a year earlier to 2.97 billion Hong Kong dollars (US$379.1 million).

Revenue declined to HK$5.20 billion from HK$5.56 billion, it said, with core business revenue falling 7% on lower trading and clearing fees.

HKEX said its headline average daily turnover fell 22% to HK$99.4 billion in the quarter as geopolitical tensions and macroeconomic volatility continued to weigh on market sentiment.


Write to Kimberley Kao at kimberley.kao@wsj.com


(END) Dow Jones Newswires

04-24-24 0033ET