ATFX Hong Kong stocks: Hong Kong Stock Exchange (0388.HK) announced its third-quarter results at noon today. The stock price opened high and closed low and today. It followed the performance in the afternoon and failed to continue the rebound of the previous two days.
Based on the performance of the first three quarters, the Hong Kong Stock Exchange's first three quarters earnings fell 28% year-on-year to HK$7.099 billion, with an earnings of HK$5.61 per share. Revenue and other income in the first three quarters was HK$13.255 billion, down 18.3% from the new record high recorded in the first three quarters of 2021.
The net investment loss of the company's funds reached HK$424 million, compared with the same period last year, which was recorded as HK$460 million. It was mainly due to the decline in valuations of global stocks and fixed income markets, causing the external portfolio to record a net fair value loss of HK$659 million.
Hang Seng Index has fallen 29% this year and is still not far from its lowest level since October 2011. Affected by the market downturn, the average daily trading volume of on the Hong Kong Stock Exchange fell 31% to HK$124.1 billion. Among them, the average daily transaction amount of equity securities products fell by 33%; the average daily transaction amount of derivative warrants, bull and bear warrants fell by 19%.
The average daily transaction amount of the Shanghai Stock Connect and Shenzhen Stock Connect fell 18% year-on-year to HK$101.3 billion, while the average daily transaction amount of the Hong Kong Stock Connect fell 37% to HK$29.1 billion. However, the average daily transaction amount of Bond Connect Northbound reached HK$32.1 billion, an increase of 23% year-on-year, setting a record high in the first three quarters.
ATFX pointed out that from the data, in addition to the active trading of some derivatives, the IPO market in the third quarter also saw signs of recovery. A total of 56 new stocks were listed in Hong Kong in the first three quarters of this year. With more listing rules adjustments, we can look forward to the further recovery of the new stock market.
However, as the market still faces uncertainty, the Hong Kong Stock Exchange's stock price and price-earnings ratio may still be adjusted. Its stock price has fallen by more than 40% this year, underperforming the average performance of other similar financial stocks, and hit a new low since May 2020 last week. Judging from the weekly chart, if HK$250 is confirmed to turn into resistance, the previous low is expected to provide key psychological support between HK$206 and HK$200.
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