US STOCKS
FUNDS
FX & CRYPTO
SH/SZ-HK
HK STOCKS
 
 
 
 
 
 
News Sharing
For sharing news, please enter the email address of you and the receiver, then press SEND button.*Mandatory Fields
Receiver*
Enter email addresses, separated by semicolon (;). E.g. a@a.com;b@b.com
Your email address*
Content Sharing
<Results>HKEX 1Q Net Profit Drops 12.9% to $2.97B, Still Beating Forecast
HKEX (00388.HK) announced its 1Q24 results ended March 2024. Net profit was $2.97 billion, down 12.9% YoY, but still higher than the forecasts of 6 brokers as complied by our repor...
Reset
Send
The window will close in 5 seconds
<Results>HKEX 1Q Net Profit Drops 12.9% to $2.97B, Still Beating Forecast
Recommend
25
Positive
56
Negative
39
 
 

HKEX (00388.HK)  +3.000 (+1.027%)    Short selling $573.84M; Ratio 21.627%   announced its 1Q24 results ended March 2024. Net profit was $2.97 billion, down 12.9% YoY, but still higher than the forecasts of 6 brokers as complied by our reporters, which ranged from around $2.7 billion to $2.841 billion (YoY drop of 16.6% to 20.8%). Basic EPS was $2.35.

Revenue and other income for 1Q amounted to $5.201 billion, down 6.4% YoY, also higher than the upper end of the forecasts by the 4 brokers complied by our reporters, which ranged from $4.9 billion to $5.0 billion. HKEX explained that it was mainly due to the strong base in 1Q23, which was a quarter that benefited from a strong recovery in economic activity after the pandemic. The value represented a 7% increase when compared with 4Q23.

Related NewsG Sachs: Potential Div. Tax Cut Strongly Bullish to Turnover of HK Stocks
Net investment income from Corporate Funds was $535 million, down 3% YoY. Revenue from its core business dropped 7% YoY during the period, reflecting lower trading and clearing fees as a result of the decline in average daily turnover (ADT) on the Stock Exchange, lower net investment income from Margin Funds and Clearing House Funds, and lower listing fee income. This was partly offset by an increase in LME trading and clearing fee income, driven by higher revenue and fees.

Bonnie Chan, the newly appointed Group CEO, said that although the stock market had continued to weaken as a result of the macro market sentiment, the ADT in March and April this year had picked up significantly, signalling a recovery in investor confidence.

ADT of the Stock Exchange reached $99.4 billion in 1Q, down 22% YoY. ADT on the Northbound (Shanghai/Shenzhen) Stock Connect was RMB133 billion, hiking 37%. ADT of the Northbound Bond Connect reached a quarterly high of RMB45.2 billion, lifting 22%. ADT of the Southbound (Hong Kong) Stock Connect plummeted 17% to $31 billion.

Related NewsNomura Adds HKEX (00388.HK) TP to $330.58; Profit Rises as ADT Improves
The average daily volume (ADV) of derivatives contracts traded on the Futures Exchange and stock options contracts traded on the Stock Exchange reached 855,000 and 645,000 contracts respectively in 1Q, representing a YoY growth of 14% and a decline of 3%. The chargeable ADV of metals contracts traded on the LME recorded a growth of 31% to 659,000 lots.



(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-05-17 16:25.)

Related NewsHSBC Global Research: HK Econ Faces ST Cyclical Challenges; LT Goal is to Strengthen Dev. of 8 Key Areas

AAStocks Financial News

Preferred News
Related Stocks
0/0
 
SITEMAP
Email: support@aastocks.com
AASTOCKS.COM LIMITED (阿斯達克網絡信息有限公司) All rights reserved.
Disclaimer
You expressly agree that the use of this app/website is at your sole risk.

AASTOCKS.com Limited, HKEx Information Services Limited, China Investment Information Services Limited, Shenzhen Securities Information Co. Ltd, Nasdaq, Inc., their respective holding companies and/or any subsidiaries of such holding companies, their Sources and/or other third party data provider(s) endeavour to ensure the accuracy and reliability of the Information provided but do not guarantee its accuracy or reliability and accept no liability (whether in tort or contract or otherwise) for any loss or damage arising from any inaccuracies or omissions.

Neither AASTOCKS.com Limited, HKEx Information Services Limited, China Investment Information Services Limited, Shenzhen Securities Information Co.Ltd., Nasdaq, Inc. nor their respective holding companies and/or any subsidiaries of such holding companies nor their Sources and/or other third party data provider(s) make any express or implied offers, representations or warranties (including, without limitation, any warranty or merchantability or fitness for a particular purpose or use) regarding the Information.

Neither AASTOCKS.com Limited, HKEx Information Services Limited, China Investment Information Services Limited, Shenzhen Securities Information Co. Ltd., Nasdaq, Inc. nor their respective holding companies and/or any subsidiaries of such holding companies nor their Sources and/or other third party data provider(s) will be liable to any Subscriber or any other party for any interruption, inaccuracy, error, or omission, regardless of cause, in the Information or for any damages (whether direct or indirect, consequential, punitive, or exemplary) resulting from its use by any party.

AASTOCKS.com Limited shall not be liable for any failure or delay in performance of its obligations under this Disclaimer because of circumstances beyond its reasonable control, including but without limitation, acts of God, typhoons, rainstorms, other natural disasters, government restrictions, strikes, wars, virus outbreak, network failures or telecommunications failures.

Morningstar Disclaimer: Copyright © 2020 Morningstar, Inc. All Rights Reserved. The information, data, analyses and opinions ("Information") contained herein: (1) include the proprietary information of Morningstar and Morningstar’s third party licensors; (2) may not be copied or redistributed except as specifically authorised; (3) do not constitute investment advice; (4) are provided solely for informational purposes; and (5) are not warranted to be complete, accurate or timely. Morningstar is not responsible for any trading decisions, damages or other losses related to the Information or its use. Please verify all of the Information before using it and don’t make any investment decision except upon the advice of a professional financial adviser. Past performance is no guarantee of future results. The value and income derived from investments may go down as well as up.

The information and contents contained in this app/website are based on the analyses and interpretations of publicly available information obtained from sources believed to be reliable. Such analyses and information have not been independently verified and AASTOCKS.com Limited makes no guarantees to their accuracy, completeness, timeliness or correctness.

The information, financial market data, quotes, charts, statistics, exchange rate, news, research, analysis, buy and sell ratings, Education Center and other information on this app/website should be used as references only at your own discretion. Prior to the execution of a security or any other trade based upon the Information, you are advised to consult independent professional advice to verify pricing information or to obtain more detailed market information. AASTOCKS.com Limited is not soliciting any subscriber or app/website visitor to execute any trade. Any trades executed following the said information, commentaries and/or buy/sell ratings on this app/website are taken at your own risk for your own account.

AASTOCKS.com Limited provides the information and services on an "AS IS" basis. The information and contents on this app/website are subject to change without notice. AASTOCKS.com Limited reserves the right, in its sole discretion but without any obligation, to make improvements to, or correct any error or omissions in any portion of this app/website at any time.

The subscriber or app/website visitor agrees not to reproduce, retransmit, disseminate, distribute, broadcast, publish, circulate, sell or commercially exploit the information and contents on this app/website in any manner without the express written consent of AASTOCKS.com Limited.

Investment involves risk. You may make use of the Education Center of this website for academic reference purposes at your own discretion. AASTOCKS.com Limited cannot and does not give any assurance that the present or future buy/sell commentaries and signals on this app/website will be profitable. AASTOCKS.com Limited cannot guarantee, and the subscriber or app/website visitor should not assume, that the future performance will equal past performance.

AASTOCKS.com Limited may point to other sites that may be of interest to the subscriber or app/website visitor but for which AASTOCKS.com Limited has no responsibility and only provides this as a service to the subscriber or app/website visitor.

AASTOCKS.com Limited does not represent or endorse the accuracy or reliability of any information, advertisements or contents contained on, distributed through, or linked, downloaded or accessed from any of the services on this app/website. AASTOCKS.com Limited cannot and does not guarantee the quality or reliability of any products or information purchased or obtained by you as a result of an advertisement or any other information displayed on this app/website.

AATV is a video platform owned by AASTOCKS.com Limited.

You acknowledge that: (i) AATV is provided for information purposes only and, in particular, is not intended for trading purposes; (ii) AATV does not and none of the information contained in its program constitutes a solicitation, offer, opinion, or recommendation by us to buy or sell any security, or to provide legal, tax, accounting, or investment advice or services whether or not regarding the profitability or suitability of any security or investment; and (iii) AATV is not intended for use by, or distribution to, any person or entity in any jurisdiction or country where such use or distribution would be contrary to law or regulation.

The financial analysis or opinion expressed in the AATV programs is for reference and discussion only, and does not represent AASTOCKS.com Limited. Investors must make their own investment decisions based on their own investment objectives and financial situation. AASTOCKS.com Limited shall not, directly or indirectly, be liable, in any way, to you or any other person for any: (i) inaccuracies or errors in or omissions from AATV including, but not limited to, quotes and financial data; (ii) delays, errors, or interruptions in the transmission or delivery of AATV; or (iii) loss or damage arising therefrom or occasioned thereby, or by any reason of nonperformance.

AASTOCKS.com Limited reserves the right to change this Disclaimer at any time by posting changes online at this app/website. You are responsible for reviewing regularly information posted therein to obtain timely notice of such changes. Your continued use of this app / website after changes are posted constitutes your acceptance of this Agreement as modified by the posted changes.

The disclaimer herein shall be governed by the law of the Hong Kong Special Administrative Region of the People's Republic of China ("Hong Kong") and you agree to submit to the exclusive jurisdiction of the Hong Kong courts.

In the event of any discrepancy between the Chinese and English versions, the English version shall prevail.

Last updated on 6 January 2023.