• Securities business income rose 50% within the first half of 2024 to HK$19 billion.
• Digital asset buying and selling generated income of HK$77 million for the primary time.
• Elevated buyer engagement with 4.87 million lively money and margin accounts.

Hong Kong's securities business noticed elevated income within the first half of 2024, based on a report by the Securities and Futures Fee (SFC).

Securities sellers and credit score brokers posted a mixed internet revenue of HK$19 billion (US$2.44 billion) within the first half of 2024, up 50% in contrast with the earlier six months and rising 29% year-on-year. The sector continues its upward pattern, constructing on a 25% year-on-year improve in 2023.

Total business revenues remained broadly flat, pushed by will increase in internet payment revenue, underwriting charges and buying and selling income. Nevertheless, these positive aspects had been offset by declines in asset administration and company finance advisory providers. Reductions in non-interest bills had been a serious driver of revenue development, indicating that improved value administration has performed a key function in business profitability.

Additionally learn: Hong Kong cements place as crypto hub with Bitcoin ETF development

Market exercise was strong in the course of the interval, with the variety of lively money and credit score purchasers reaching a document excessive of roughly 4.87 million. This development signifies robust investor engagement and is contributing to the business's efficiency regardless of adjustments in sure income streams.

Crypto-asset buying and selling reveals robust development

What makes the outcomes much more vital is that crypto-asset buying and selling is predicted to generate income of HK$77 million (US$9.89 million) within the first half of 2024, highlighting rising curiosity in and participation within the crypto-asset market.

Buying and selling volumes of non-exchange-traded merchandise dealt with by licensed establishments are anticipated to succeed in a document HK$1.238 trillion ($159.3 billion) in 2023, based on a joint survey by the SFC and the Hong Kong Financial Authority (HKMA).

Additionally learn: Hong Kong's crypto journey: From inexperienced bonds to identify Bitcoin ETF

Dr. Yep Chi-hing, government director of the SFC's intermediation division, mentioned the 50% revenue improve was in step with an total restoration in licensed establishments' profitability, noting that the variety of economic merchandise in Hong Kong continues to draw native and worldwide traders, whereas licensed corporations are more and more exploring alternatives in digital asset buying and selling.