HKEX posts record first-half profit as mainland tech listings fuel growth
Hong Kong Exchanges and Clearing Ltd reported record first-half net profit of HK$10.57 billion, up 24 per cent from a year earlier, as IPO activity and stock turnover surged on the back of mainland technology listings.
Source: South China Morning Post · August 27, 2026 at 11:37 PM · AI-assisted report
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HONG KONG, 28 AUGUST 2026 —
HKEX’s role in shaping global finance gains momentum as Hong Kong strengthens cross-border links
Market Impact
HONG KONG, Aug 27 (SCMP) — The record profit growth at Hong Kong Exchanges and Clearing (HKEX) is more than a financial achievement—it reflects a broader market revival as technological and financial currents from mainland China converge with Hong Kong’s capital markets.
The city is positioning itself as the gateway for next-generation technology firms seeking public listings, with the spectacular debut of Unitree Robotics on the Shanghai Stock Exchange’s tech-focused Star market serving as a case in point. The humanoid robotics company’s shares surged 460% on their first trading day, fuelling speculation that a secondary listing in Hong Kong is imminent.
China’s dominance in the humanoid robotics sector—currently accounting for 97% of global shipments—is underpinned by rapid advancements in semiconductor manufacturing and artificial intelligence. Morgan Stanley projects deliveries to rise from 12,000 units in 2025 to 50,000 this year, reaching 446,000 units by 2030. As mainland manufacturers eye public listings, Hong Kong stands to benefit as the preferred destination for capital-raising, according to market observers.
This shift presents a significant opportunity for HKEX’s initial public offering (IPO) business, but requires strategic execution to fully capitalise on the momentum.
HKEX’s latest financial results underscore this growth trajectory. The exchange reported a 21% increase in second-quarter net profit to HK$5.38 billion, while first-half net profit rose 24% to HK$10.57 billion. IPO activity and higher stock turnover were key drivers of performance. To sustain this growth, HKEX is exploring new investment products modelled after existing cross-border programmes such as Stock Connect and Bond Connect.
These could include more sophisticated IPO-focused products, pending regulatory alignment and clear implementation timelines.
A recent regulatory shift allowing mainland insurers to invest in Hong Kong exchange-traded funds (ETFs) via Stock Connect is expected to further boost southbound capital inflows. The National Financial Regulatory Administration’s endorsement of this move comes as Hong Kong’s ETF turnover surged 22% this year, with average daily turnover reaching HK$40.6 billion through July.
On August 18, Hong Kong recorded HK$14 billion in market inflows—the highest in a month—highlighting the growing appetite for cross-border investment channels.
HKEX CEO Bonnie Chan Yiting has emphasised the importance of expanding these investment products to maintain the city’s competitive edge. “This is a profound opportunity for our IPO business, but one that requires strategic navigation,” she said. Success will depend on seamless collaboration with mainland regulators and timely execution of new initiatives.
The blueprint for such expansion already exists in the form of Stock Connect and Bond Connect, which have demonstrated the viability of cross-border financial linkages.
Beyond mainland China, Hong Kong is also strengthening ties with regional markets to diversify its role as a global financial hub. A mutual cooperation agreement between HKEX and Bursa Malaysia—set to take effect as the 21st exchange recognised by HKEX—will enable Malaysian-listed companies to pursue secondary listings in Hong Kong. Malaysia will be the fourth Asian exchange recognised by HKEX, following Indonesia, Singapore, and Thailand.
This initiative not only enhances Hong Kong’s appeal as a listing destination but also reinforces its position as a connector between Asian markets and global investors.
The broader implications for Malaysia and Southeast Asia are significant. Malaysian companies, particularly those in technology and high-growth sectors, may now consider Hong Kong as a strategic venue for raising capital and expanding their investor base. The recognition of Bursa Malaysia by HKEX also signals deeper financial integration within the region, potentially paving the way for more cross-border listings and investment flows.
Industry stakeholders view these developments as a positive step toward a more interconnected financial ecosystem. “Encouraging Asian and other regional companies to pursue secondary listings in Hong Kong is not only a boon for our local exchange but a testament to its enduring status as an international financial hub,” said a senior executive at a major Malaysian conglomerate. The move aligns with broader efforts to enhance liquidity and market depth across the region.
Looking ahead, HKEX’s ability to innovate and expand its cross-border offerings will be critical in maintaining its leadership. The exchange’s focus on new investment products, coupled with the growing interest from mainland insurers and regional companies, positions it well to capitalise on the next wave of technological and financial trends. As mainland China’s tech sector continues to mature, Hong Kong’s role as a global connector will only grow in importance.
The path forward is clear: by leveraging its expertise in cross-border connectivity and fostering innovation, Hong Kong is not merely observing the future of global finance—it is actively shaping it. With HKEX at the helm, the city is poised to play an even greater role in the evolving landscape of international finance.
Related: HKEX · Bonnie Chan Yiting · Hong Kong