Bitcoin ETF

Status

Coin

<ul class="wp-block-list news-points">
 <li>Securities industry profits rose 50% to HKD 19 billion in 1H 2024.</li>
 <li>Virtual asset trading generated HKD 77 million in revenue for the first time.</li>
 <li>Increased client engagement with 4.87 million active cash and margin accounts.</li>
</ul>
Hong Kong’s securities industry saw increased profit in the first half of 2024, according to the Securities and Futures Commission <a href="https://apps.sfc.hk/edistributionWeb/gateway/TC/news-and-announcements/news/doc?refNo=24PR154" target="_blank" rel="noopener noreferrer nofollow">(SFC) report</a>.&nbsp;
Securities dealers and margin financiers posted total net profits of HKD 19 billion ($2.44 billion) in the first six months of 2024. This is a 50% increase compared to the previous six months and a 29% growth year-on-year. The sector continued its upward trend, building on a 25% year-on-year increase in 2023.
Total industry revenue remained relatively flat due to the rise in net commission income, underwriting fees, and trading profits. However, these gains were offset by declines in asset management and corporate finance advisory services. Reduced non-interest expenses were a major driver of profit growth, suggesting that improved cost management played a key role in the industry’s profitability.
Read also: <a href="https://coinedition.com/hong-kong-solidifies-crypto-hub-status-with-bitcoin-etf-growth/" rel="noopener noreferrer nofollow">Hong Kong Solidifies Crypto Hub Status with Bitcoin ETF Growth</a>
Market activity…
The post <a href="https://coinedition.com/virtual-asset-trading-drives-growth-in-hong-kongs-markets/" rel="noopener noreferrer nofollow">Virtual Asset Trading Drives Growth in Hong Kong’s Markets</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Virtual Asset Trading Drives Growth in Hong Kong’s Markets

Coin Edition

Other articles published on Sep 26, 2024

Worldcoin Price Surges 10% As World ID Gains Wider Adoption, And This PEPE 2.0 ICO Heads For $16 ...

FBI Raises Red Flag on ‘Pig Butchering’ Crypto Scams Targeting Maryland

Top 10 Altcoins With The Most Growth In The Last One Month Announced – Here’s The List To Check Out

Upbit Listings Spark Price Surges for MINA, CTC, and Other Tokens

Japan Eases Crypto Regulations for Gaming Businesses

Bitgert, Render, and Reef: Forecasting a Massive Bullish Run for These Tokens

Join our free newsletter for daily crypto updates!