Hong Kong Exchanges & Clearing saw a 35% year-on-year surge in profit attributable to shareholders in the first quarter this year to $1.127 billion.

According to the first-quarter results announced today, HKEx recorded income of $1.714 billion, up 28% on a year earlier, while operating expenses rose 9% to $385 million. Profit before taxation was $1.329 billion, with basic earnings per share at $1.05.

The average daily turnover value on the Stock Exchange was $64.8 billion, 45% higher than the same period last year. The average daily number of derivatives contracts traded on the Futures Exchange and stock options contracts traded on the Stock Exchange also grew 8% and 6% to 211,724 and 205,581.

Initial public offerings continued to be active in the first quarter with 13 new listings against seven in 2009. The total equity funds raised amounted to $87.1 billion, which was more than five times the figure a year ago.

Mainland gateway

HKEx Chairman Ronald Arculli said while global economies are recovering at varying paces, potential mounting protectionism and concern over inflation in various countries is creating uncertainty.

Governments and central banks around the world, he said, are carefully planning exits from their stimulus measures, and their decisions will undoubtedly have a significant impact on the global economic performance ahead. There are also continuous discussions on financial market reforms.

"As such, we remain vigilant about such situations and the impact it may have on international financial markets and developments. However, we continue to focus on maintaining an orderly, informed and fair market in Hong Kong.

"We will leverage on Hong Kong's unique position as a gateway to China and our established position as an international financial marketplace to support the continued growth of the Mainland financial market, and to support the progressive internationalisation of the renminbi."