HKEX profit jumps to record high on surging IPOs and turnover, beating market estimates

Hong Kong Exchanges and Clearing (HKEX) profit jumped to a record amid a boom in initial public offerings (IPOs) and sizzling stock market turnover in the second quarter, according to a stock exchange filing on Wednesday. Quarterly net profit for the operator of Asia’s third-largest stock market soared 21 per cent year on year to HK$5.38 billion (US$683.4 million), or HK$4.26 per share, higher than analysts’ estimate of HK$4.96 billion. It was the second consecutive quarter of record profit…