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Hong Kong Stock Exchange's profits continue to hit new highs, and stock prices rise, but are subject to the market
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Hello everyone, today XM Forex will bring you "[XM Forex]: Hong Kong Stock Exchange's profits continue to hit new highs, and the stock price rises but is subject to the market." Hope this helps you! The original content is as follows:
XM Hong Kong Stocks: Hong Kong Stock Exchange’s profits continued to hit new highs, and the stock price rose but was subject to the market
Performance growth was mainly driven by the surge in trading business and IPO transactions, with both stock and derivatives trading volumes hitting new highs in 2025.
In the third quarter of 2025, the Hong Kong Stock Exchange’s revenue and other income reached HK$7.775 billion, an increase of 45% www.xmaccount.compared with the same period in 2024. Among them, main business income increased by 54% year-on-year, while the net investment income of the www.xmaccount.company's funds was HK$254 million, a decrease from HK$507 million in the third quarter of 2024. Operating expenses increased by 8%, and EBITDA margin was 81%, an increase of 7 percentage points from the third quarter of 2024. Profit attributable to shareholders was HK$4.900 billion, an increase of 56% from the third quarter of 2024, exceeding market expectations of HK$4.71 billion.
Revenue and other income in the first three quarters of 2025 will be HK$21.851 billion, an increase of 37% from the first three quarters of 2024: Main business income increased by 41% from the first three quarters of 2024 to HK$204.38, due to record high trading volumes in the spot market and stock options market, which increased transaction and settlement fees. The net investment income of the www.xmaccount.company's funds was HK$1.298 billion; the EBITDA profit margin was 79%, an increase of 5 percentage points from the first three quarters of 2024.
The average daily trading volume of derivatives products on the Hong Kong Stock Exchange in the first three quarters of this year was 1.54 million contracts, a record high. The average daily trading volume of stock options during the period was www.xmaccount.compared with that of the whole of last year.has increased by 20%. The Hong Kong Exchange launched a weekly stock options series in November last year. As of the end of September this year, the cumulative trading volume has exceeded 22 million contracts. As of the end of September this year, the average daily trading volume of Hang Seng Index futures increased by 30%. On October 15, the number of open contracts for Hang Seng Index options exceeded 300,000, and the Hang Seng Index futures options with physical settlement all reached new highs.
The main driver of the surge in profits
Stock trading volume hit a new high: The spot market trading volume hit a record, directly pushing up trading and settlement fee income. In the first three quarters of 2025, main business income increased by 41% year-on-year to HK$20.438 billion, of which transaction fee income accounted for a significant proportion. This reflects increased market activity, driven by global capital inflows into Hong Kong stocks, a rebound in technology stocks and a return to investor confidence.
DeepSeek craze drives technology stock trading: As a hot www.xmaccount.company in the AI field, DeepSeek has promoted the trading activity of Hang Seng Technology Index constituent stocks, thereby stimulating the demand for related derivative products. Increased volatility in technology stocks has attracted more speculation and hedging activity.
Cost control and operational efficiency improvement: Operating expenses increased by only 8%, far lower than revenue growth (45%), and EBITDA profit margin increased to 81% (third quarter) and 79% (first three quarters), showing that the Hong Kong Stock Exchange has achieved good cost management under the scale effect. This includes automated processes and digital investments that reduce unit transaction costs.
Global market environment: The weakening of expectations for an interest rate cut by the Federal Reserve has led to a strengthening of the US dollar. The Hong Kong stock market has hit new stage highs in a row (the Hang Seng Index in October hit a high since July 2021). Some funds have been diverted from the European and American markets to Hong Kong stocks, increasing the trading share of the Hong Kong Stock Exchange.
From a valuation perspective, the current P/E of the Hong Kong Stock Exchange is about 30-35 times. Although it is close to a one-year high, it is also higher than the historical average (about 25-30 times), but lower than high-growth technology www.xmaccount.companies. Earnings that beat expectations may have driven the stock price higher recently, but whether valuations are too high depends on the sustainability of future growth. Current valuations partially price in record trading volume, but do not fully reflect the long-term potential of IPOs and derivatives. After today’s performance, the stock price followed the market and was affected. However, in the short term, the stock price will continue to digest the positive performance, but whether it can break through the resistance of the daily moving average and return to the top of the range since mid-October, the key resistance to return to the high range is HK$440.

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The above content is about "[XM Foreign Exchange]: Hong Kong Stock Exchange profits continue to hit new highs, and stock prices rise with the rise but are subject to the market". It is carefully www.xmaccount.compiled and edited by the XM Foreign Exchange editor. I hope it will be helpful to your trading! Thanks for the support!
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