Securities industry profits rose 50% to HKD 19 billion in 1H 2024.
Virtual asset trading generated HKD 77 million in revenue for the first time.
Increased client engagement with 4.87 million active cash and margin accounts.
Hong Kong’s securities industry saw increased profit in the first half of 2024, according to the Securities and Futures Commission (SFC) report.
Securities dealers and margin financiers posted total net profits of HKD 19 billion ($2.44 billion) in the first six months of 2024. This is a 50% increase compared to the previous six months and a 29% growth year-on-year. The sector continued its upward trend, building on a 25% year-on-year increase in 2023.
Total industry revenue remained relatively flat due to the rise in net commission income, underwriting fees, and trading profits. However, these gains were offset by declines in asset management and corporate finance advisory services. Reduced non-interest expenses were a major driver of profit growth, suggesting that improved cost management played a key role in the industry’s profitability.
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Market activity…
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