Hong Kong stock exchange posts record half-yearly profit

Hong Kong's stock exchange, HKEX, announced record half-year profits on Wednesday, driven by a surge in demand for initial public offerings (IPOs) from tech and artificial intelligence (AI) companies, according to the exchange operator. The exchange welcomed 87 new listings, generating a total of HK$212.4 billion (US$27 billion) — a 94% increase year-on-year.

Attributable profit rose to HK$10.6 billion, up 24% from the same period last year, while core revenue reached HK$15.5 billion, reflecting record volumes across cash, derivatives, and commodities markets. Both the profit and revenue figures set new half-year records, surpassing the figures from the last six months of the previous year.

HKEX CEO Bonnie Chan attributed the strong performance to "robust market sentiment, strong fundraising demand from technology and AI-related companies, and active participation from both Chinese Mainland and international investors." Trading activity in the cash, derivatives, and Stock Connect markets reached record highs, highlighting the resilience and relevance of the markets.

HKEX recently announced the renewal of Chan's contract for another three-year term until February 2030. Chairman Carlson Tong stated that HKEX entered 2026 with resilience and strategic progress, delivering record first-half performance despite macroeconomic uncertainty and evolving geopolitical dynamics. The AI-driven IPO boom in Hong Kong is part of Beijing's strategy to attract overseas funds to fund national technology initiatives.

Chinese AI data center supplier Zhongji InnoLight raised approximately US$6.8 billion during its debut IPO, marking the city's biggest public offering in seven years. The Hong Kong IPO market had raised about HK$210 billion by June, marking the strongest first-half result in five years, as reported by accounting firms KPMG and PwC.