News Snapshot:
News Snapshot: HONG KONG: Hong Kong's stock exchange on Wednesday (Apr 27) reported its biggest quarterly drop in profits for six years as tightened Chinese regulations strangled new listings and the city struggled with its worst-ever coronavirus outbreak. Hong Kong Exchanges and Clearing (HKEX) announced a net income of HK$2.67 billion (US$340 million) for the three months ended March - 31 per cent down year-on-year - with quarterly revenue down 21 per cent at HK$4.69 billion. The exchange operator has now seen four consecutive drops in quarterly profits. "We were not immune to global market sentiment, which resulted in some...
