Hong Kong Exchanges and Clearing Ltd. (HKEX) reported record first-half results for 2026, with profit after tax rising 24% year-over-year to HKD 10.6 billion on strong trading activity and a 19% increase in revenue to HKD 16.7 billion.
The company’s cash market average daily turnover reached a half-year record of HKD 283 billion, up 18% from the prior year, while derivatives trading volume climbed 6%. Commodities market activity surged 18% on the London Metal Exchange, setting a new half-year high. Second-quarter headline average daily turnover further accelerated to HKD 289 billion, a quarterly record.
Earnings per share rose 24% to HKD 8.36, surpassing Wall Street forecasts of HKD 3.60 by HKD 0.66, an 18.3% surprise. Revenue of HKD 8.5 billion also exceeded estimates by HKD 0.87 billion. Net investment income declined 11% to HKD 2.56 billion, partly reflecting the absence of a HKD 298 million non-recurring valuation gain recorded in the prior period.
HKEX declared a first interim dividend of HKD 7.43 per share, representing 90% of attributable profit excluding results from the HKEX Foundation. The payout maintains a 27-year streak of dividend payments and marks the third consecutive annual increase. Operating expenses rose 6% year-over-year, or 9% excluding one-off items such as a 2025 fine and a 2026 insurance claim.
The exchange’s stock rose 1.01% to close at HKD 418.80, within a 52-week range of HKD 360 to HKD 466. Trading in exchange-traded products contributed 17% of headline average daily turnover in H1 2026, up from roughly 5% in 2021. Companies listed since 2025 accounted for more than 8% of the record turnover.
HKEX also highlighted strategic initiatives, including the August 3 launch of the Five-Year China Government Bond futures contract and plans to accept CGB as collateral in its two largest clearing houses later this year. The company cited renewed global investor interest in Chinese markets amid optimism over innovation-driven growth.
