FILE PHOTO: The logo of Hong Kong Exchanges & Clearing Ltd. (HKEX) is seen at the financial Central district in Hong Kong, China September 14, 2020. REUTERS/Tyrone Siu/File Photo

https://images.wsj.net/im-912621?size=1.5005861664712778

HKEX posted lower trading volume during the quarter, with headline average daily turnover sliding 22% as geopolitical tensions and macroeconomic volatility continued to weigh on market sentiment.

Reporter, Dow Jones Newswires

https://images.wsj.net/im-912621?width=1280&size=1.501

Hong Kong’s stock-exchange operator reported lower net profit for the second straight quarter, with poor market sentiment cutting further into trading and listing activity in the Asian financial hub.

Hong Kong Exchanges & Clearing said on 24 April that its first-quarter net profit fell 13% from a year earlier to 2.97 billion Hong Kong dollars ($379.1m).

HKEX’s profit falls for second straight quarter on weak trading, listings

Hong Kong Exchanges & Clearing said first-quarter net profit fell 13% from a year earlier to $379.1m

Kimberley Kao

Earnings

Stock Market

UniCredit hikes Commerzbank stake to 28% as CEO Orcel ups ambitions

Alantra strips out 20 managing directors in investment bank business shift 

Abrdn names tech chief for investments unit in latest appointment under Jason Windsor

https://images.fnlondon.com/im-52085931?size=1.5

Alain Courbebaisse will take on role in the new year

Simpson Thacher hires Sidley Austin finance duo in London

https://images.fnlondon.com/im-92579329?size=1.52

Leveraged finance lawyers are in high demand in London

Trading Places: EY names UK financial services head, BofA promotes 387 MDs

https://images.fnlondon.com/im-329118?size=1.5

Find out who is on the move in the City and beyond this week

The Fed’s signal that it will cut rates less than expected complicates efforts by other central banks to manage their economies.

Bank of England Keeps Rates Steady After Fed Move

Palliser Capital doubled down on its call for a review of Rio Tinto’s dual listing in London and Sydney, adding that it now has the backing of more than 100 shareholders.

Activist Investor Widens Call for Review of Rio Tinto’s Dual-Listing

Activist Investor Palliser Capital Widens Call for Review of Rio Tinto’s Dual-Listing Status

In a 12-hour social-media barrage, the world’s richest man led a rebellion against a bill aimed at keeping the government funded.

Musk Draws First Blood With Spending Bill Bombshell 

Aides kept meetings short and controlled access, top advisers acted as go-betweens and public interactions became more scripted. The administration denied Biden has declined.

By Annie Linskey, Rebecca Ballhaus, Emily Glazer and Siobhan Hughes

How the White House Functioned With a Diminished Biden in Charge

Indexes were lower in Europe’s morning trade, as markets digested hawkish comments from the Fed’s Powell which left investors blindsided, Richard Hunter, Head of Markets at Interactive Investor, said.

European Indexes Fall on Slower U.S. Rate Cut Projections

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