News Snapshot:
Hong Kong Exchanges and Clearing has been hit by the pandemic and tighter Chinese regulations - Copyright AFP Anthony WALLACE Hong Kong’s stock exchange on Wednesday 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 ($340 million) for the three months ended March — 31 percent down on-year — with quarterly revenue down 21 percent at HK$4.69 billion. The exchange operator has now seen four consecutive drops in quarterly profits....
