Hong Kong’s bourse has reported a fall in profit during the last quarter, as months of political unrest took its toll on the stock exchange operator.
Profit at the Hong Kong Exchanges and Clearing (HKEX) hit HK$2.2bn ($217.8m) in the three months to September, tumbling 9.5 per cent compared to the same period last year.
Fresh off the back of its failed bid to buy the London Stock Exchange, the group said this morning political demonstrations in Hong Kong, uncertainty over Brexit and the US-China trade war standoff have all driven the slowdown in recent months.
Trading fees had slumped 10 per cent, while fees from stock listing plunged 13.6 per cent to HK$394m.
There are hopes that online shopping giant Alibaba will float in Hong Kong before the end of the year, giving its bourse a much-needed boost.
Hong Kong’s wider economy has faced mass disruption in recent months amid mounting pro-democracy demonstrations.
The Asian hub has suffered a slowdown in investor appetite after being rocked by regular clashes between protesters and police.
Boss Charles Li said: “Set against a challenging broad geopolitical backdrop, HKEX has had a good first nine months of 2019.”
In October Li abandoned the bourse’s hopes of taking over the LSE, having had its £32bn offer rejected by its London rival.
HKEX had said it made the offer in a bid to “redefine global capital markets for decades to come” by combining East and West.