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Hong Kong exchange profits powered by pandemic stock-trading boom

New listings from Chinese technology companies also spark surge in HKEX volume

A flag bearing the logo of Hong Kong Exchanges & Clearing. The exchange has become the default secondary-listing destination for Chinese companies threatened by delisting in the U.S.   © Reuters

HONG KONG -- Hong Kong Exchanges & Clearing, the operator of the world's most valuable stock exchange, reported record half-year profit that benefited from a surge in trading volumes from new listings by Chinese technology companies and increased volatility brought on by the global pandemic and local political tensions.

HKEX has stood as a bulwark for Hong Kong amid concerns that Beijing's recent moves to exert greater control over the city would spell the end of its status as a global financial hub. The exchange's shares have soared 45% this year as investors focused on the potential for further volume growth.

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