HKEX Posts Record Nine-Month Revenue and Profit, Q3 Net Income Edges Lower

The split between northbound and southbound flows is the more telling detail here: mainland money into Hong Kong cooled even as the exchange posted record nine-month figures and a modest quarterly dip. That divergence hints at how much of HKEX's momentum rests on cross-border participation rather than domestic sentiment, and it matters for issuers and brokers who lean on that channel. Whether southbound turnover keeps contracting while northbound volumes stay elevated is the open question for the next quarter.