- Securities business income up 50% to HKD 19 billion in 1H 2024.
- Buying and selling in digital property generated HKD 77 million in income for the primary time.
- Elevated shopper engagement with 4.87 million lively money and margin accounts.
Hong Kong's securities sector noticed elevated revenue within the first half of 2024, in keeping with a report from the Securities and Futures Fee (SFC).
The inventory merchants and margin financiers reported a mixed web revenue of HKD 19 billion ($2.44 billion) for the primary six months of 2024. It is a 50% improve in comparison with the earlier six months and a 29% year-over-year improve. The sector continued its upward pattern and adopted up with a 25% year-on-year improve in 2023.
Whole business income remained comparatively flat because of will increase in web fee earnings, underwriting charges and buying and selling revenue. Nevertheless, these features had been offset by declines in asset administration and company finance advisory companies. Decreased non-interest prices had been the principle driver of revenue progress, suggesting that higher value administration performed a key position within the business's profitability.
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Market exercise was robust throughout this era, with the variety of shoppers with lively money and margin reaching a report excessive of round 4.87 million. This progress signifies robust investor engagement that’s contributing to the sector's efficiency regardless of shifts in particular income streams.
Digital asset buying and selling is exhibiting robust progress
What makes the outcomes much more related is that digital asset buying and selling generated income of HKD 77 million (US$9.89 million) within the first half of 2024, highlighting the rising curiosity and participation in digital asset markets.
A joint survey by the SFC and the Hong Kong Financial Authority (HKMA) discovered that non-exchange-traded funding merchandise processed by licensed establishments reached a report HKD 1.238 trillion ($159.3 billion) in 2023.
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Dr. Yeh Chi-hing, managing director of the SFC's Middleman Division, stated the 50% improve in revenue was in step with the general restoration in profitability amongst licensed establishments. He additionally famous the range of Hong Kong's monetary merchandise, which continues to draw native and worldwide traders, whereas licensed companies are more and more exploring alternatives in digital asset buying and selling.
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