(Yicai Global) Aug. 20 -- Hong Kong Exchanges and Clearing, the world’s most valuable stock exchange operator, posted record first-half profit after luring the second-most number of share offerings globally, including high-profile listings by China’s NetEase and JD.Com. 

Net profit rose 1 percent to HKD5.2 billion (USD671 million) in the six months ended June 30 from a year ago, while revenue climbed 2 percent to HKD8.8 billion, according to the company’s earnings report published yesterday.

HKEC benefitted from helping 64 companies to raise a total of HKD92.8 billion (USD11.9 billion) between them, which ranked the bourse third globally. Daily stock turnover jumped 20 percent as funds traded via the exchange’s stock connect programs reached historic highs, lifting HKEC’s trading and clearing fees.

The Hong Kong Stock Exchange had a “very good first half, set against a turbulent and volatile macro backdrop,” said outgoing Chief Executive Charles Li. High cash market turnover, stock connect trading volumes and a high volume of IPOs offset the company's less well-performing investment income, he added. 

In June, Li said the bourse expected a swathe of new listings by Chinese companies – including so-called homecomings by firms that trade on US markets -- due to a “less friendly” US regulatory environment.

US President Donald Trump is seeking to delist or ban Chinese companies from domestic bourses unless they grant regulatory access to their audited books. Treasury Secretary Steven Mnuchin said on Aug. 10 that those failing to meet American accounting standards will be delisted by the end of next year.

HKEC’s stock price [HKG: 0388] closed 0.7 percent lower today at HKD371 [USD47.87]. The benchmark Hang Seng Index was off 1.5 percent.

Editor: Emmi Laine