HKEX has reported record first-half 2026 earnings, with revenue and profit rising sharply as trading volumes hit new highs across cash, derivatives, and commodities markets. The exchange operator's earnings per share came in at $4.26, above the $3.60 forecast, while revenue reached $8.5 billion versus expectations of $7.63 billion. The company's core cash market remained the main driver, with headline average daily turnover rising 18% to HKD 283 billion.
Record Market Activity
The results also reflected a healthier IPO market, with Hong Kong ranking as the second-leading global IPO venue in the first half, and more than 105 listings completed year to date. Follow-on fundraising also remained strong, reinforcing the exchange's role as a capital-raising platform. Management said the business is benefiting from a broader, more diversified market structure, with equities still at the center but with growing contributions from exchange-traded products, fixed income, currencies, and commodities.
Future Initiatives
The exchange plans to expand its fixed income and commodities franchise further, with a key focus on the Five-Year China Government Bond futures contract. HKEX also said it plans to allow China Government Bonds to be used as collateral in its futures and options clearing houses before the end of 2026, subject to regulatory approval. Other initiatives include continued ETP development and possible future announcements on REITs Connect and a southbound RMB counter.
