The Zhitong Finance App learned that on April 24, Chen Yiting, CEO of the Hong Kong Stock Exchange (00388), stated in the performance announcement that the group showed strength and resilience in the first quarter of this year. Despite the weak global macro environment, the Group's derivatives and commodities business continued to perform strongly, and derivatives trading volume hit a quarterly high. Although the stock market continues to weaken due to the macro-market climate, the average daily turnover in March and April of this year has clearly rebounded, indicating a recovery in investor confidence. The turnover of the interconnection mechanism continued to rise. The trading volume of Shanghai Stock Connect, Shenzhen Stock Connect, and Bond Connect all increased dramatically. Among them, Bond Connect's trading volume hit a quarterly high.
On April 24, the Hong Kong Stock Exchange announced its quarterly results for the three months ended March 31, 2024. Revenue and other earnings for the first quarter of 2024 were HK$5.201 billion, down 6% year on year and up 7% month on month. Profit attributable to shareholders was HK$2,970 billion, down 13% year on year, but still higher than the previous forecast of about 2.7 billion to HK$2,841 billion, up 14% month on month.
Chen Yiting mentioned that the China Securities Regulatory Commission recently announced a number of measures to support the development of Hong Kong's capital market, including expanding the scope of eligible ETFs under the Shanghai-Shenzhen-Hong Kong Stock Connect, including real estate investment trusts in the Shanghai-Shenzhen-Hong Kong Stock Connect, supporting the inclusion of RMB stock trading counters in Hong Kong, and supporting leading companies in the mainland industry to list in Hong Kong. These measures will further enhance the appeal of Hong Kong's capital market.
Chen Yiting said that looking forward to the future, although the current environment is full of challenges, the group remains optimistic. It is optimistic about the long-term growth trend of the Chinese economy, and is also optimistic about the opportunities that can be brought by expanding ties with capital markets in Southeast Asia and the Middle East. The group will make good use of technology to enhance market vitality.