Hong Kong Exchange and Clearing Q3 profit falls 19pc on lower turnover

Hong Kong Exchanges and Clearing, which operates the local stock market and futures market, reported a drop in third-quarter profit of 19 per cent amid lower market turnover, with analysts saying its fourth-quarter outlook is also far from rosy.

The exchange said its net profit for the July-September quarter stood at HK$1 billion, slightly below market estimates and down from HK$1.24 billion a year earlier. Brokers blamed the decline on the mainland's economic slowdown and the European debt crisis, which has discouraged investors from placing bets on the market.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1077420/hong-kong-exchange-and-clearing-q3-profit-falls