Hong Kong Exchanges Q2 Net Profit Down 21%

Hong Kong Exchanges & Clearing Ltd

reported a 21% drop in its second-quarter net profit. Hong Kong Exchanges' quarterly net profit fell to 1.07 billion Hong Kong dollars (US$137.7 million), versus HK$1.35 billion, in the year-ago period. For the first half, its net profit dropped 14% to HK$2.22 billion, versus HK$2.58 billion. Its revenue for the second quarter dropped 8% to HK$1.90 billion, versus HK$2.07 billion. Hong Kong Exchanges' shares closed at $14.00 yesterday.