Hong Kong Securities Industry Sees Growth In First Half Of 2024

According to BlockBeats, the Hong Kong Securities and Futures Commission (SFC) released its Financial Review of the Securities Industry on September 26, revealing a continued increase in net profits for the six months ending June 30, 2024. The report also noted a rise in the average daily market turnover and the number of active cash and margin clients. The financial review and the latest joint survey by the SFC and the Hong Kong Monetary Authority (HKMA) indicate that the industry is expanding the breadth and depth of its products and services. The financial review report disclosed for the first time the virtual asset trading activities within the securities industry, which generated a total revenue of HKD 77 million in the first half of 2024. Additionally, the joint survey by the SFC and HKMA showed that the transaction volume of non-exchange-traded investment products handled by licensed institutions reached HKD 1.238 trillion in 2023, setting a new record. Furthermore, the net profit of all securities dealers and securities margin financiers in Hong Kong rose to HKD 19 billion in the first half of 2024. This represents a 50% increase compared to the previous six months and a 29% increase from the same period last year, continuing the annual growth trend of 25% observed in 2023.