According to BlockBeats, on September 26, according to an official announcement, the Hong Kong Securities and Futures Commission released the “Financial Review of the Securities Industry”. The total net profit of the Hong Kong securities industry for the six months ended June 30, 2024 recorded further growth, while the average daily market turnover and the number of active cash and margin customers both increased.

The total net profit of all securities dealers and securities margin financiers in Hong Kong rose to HK$19 billion in the first half of 2024, up 50% and 29% from the previous six months and a year ago respectively, continuing the 25% year-on-year growth in 2023. Their total revenue was roughly flat in the six months ended June 30, 2024, as the industry’s growth in net commission income, underwriting fees and trading profits was offset by a decline in income from asset management and corporate financing advisory services, while the increase in total net profit came mainly from a reduction in non-interest expenses.

The Financial Review and the latest joint survey by the SFC and the HKMA show that the industry is increasingly improving the breadth and depth of its products and services. The Financial Review disclosed for the first time the securities industry’s virtual asset trading activities, which generated a total of HK$77 million in revenue in the first half of 2024.

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