Hong Kong Exchanges & Clearing saw its profit edge up 1 percent in the third quarter of 2011, The Wall Street Journal reports. The city’s benchmark share index tanked 21 percent in the three months amid high volatility, indicating challenges for the stock exchange that led globally in new listings by value for the past two years. Listings came down to 22 in the period from 28 in the same quarter of 2010.
The net profit for the quarter ended September 30 was $159.39 million against the $156.82 million for the same period last year, enhanced by a 17 percent jump in average daily turnover to $9.33 billion. Revenue climbed 6 percent to $250.66 million from $236.52 million. Operating expenses grew 16 percent year on year in the third quarter.
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