The US labour market showed signs of a steady slowdown in October, with job openings increasing moderately and layoffs declining, according to the latest Job Openings and Labor Turnover Survey (JOLTS) report released by the Bureau of Labor Statistics on Tuesday. Job openings, a key indicator of labour demand, rose by 372,000 to 7.744 million at the end of October. However, the September figures were revised downward to 7.372 million from the initially reported 7.443 million. Economists polled by Reuters had anticipated 7.475 million vacancies. Labour Market Dynamics While job openings increased, hires dropped by 269,000 to 5.313 million, and layoffs fell by 169,000 to 1.633 million. These figures suggest a gradual cooling of the labour market rather than a sharp contraction. Hurricanes and strikes also impacted October’s labour market data. Rebuilding efforts in storm-affected regions and the resolution of strikes at Boeing and another aerospace company are expected to contribute to a ...
Hong Kong Exchanges & Clearing Ltd (HKEX) posted a 7% increase in third-quarter profit, driven by a jump in investment income. The exchange reported a net income of HK$3.145 billion (US$405 million), slightly above the consensus estimate of HK$3.113 billion, according to a survey of analysts by Bloomberg.
The results are expected to improve further in the fourth quarter after China implemented a series of stimulus measures in late September, which boosted trading volumes. Average daily volumes surged to about HK$300 billion, more than double the yearly average, supported by Hong Kong’s interest rate cuts that bolstered investor confidence.
HKEX's CEO Bonnie Chan remarked that the vibrancy of Hong Kong's markets was evident in late September, with investor sentiment improving after economic stimulus announcements from mainland China and monetary easing by major central banks.
HKEX's share price has jumped nearly 30% since the Chinese market support measures were deployed on Sept 23, while Hong Kong’s Hang Seng Index rose 13% during the same period.
IPO activity also surged, with HK$42.2 billion raised between July and September, more than tripling the amount from the first half of the year. HKEX pledged to reduce IPO vetting time from 173 to around 100 business days.
Net investment income for the third quarter rose 41%, driven by higher fair value gains in externally-managed investment funds, while core business revenue increased by 3%.
The positive results reflect the impact of China’s stimulus measures and the Hong Kong bourse's strategic adjustments to improve market participation and confidence.Hong Kong Exchanges & Clearing Ltd (HKEX) posted a 7% increase in third-quarter profit, driven by a jump in investment income. The exchange reported a net income of HK$3.145 billion (US$405 million), slightly above the consensus estimate of HK$3.113 billion, according to a survey of analysts by Bloomberg.
The results are expected to improve further in the fourth quarter after China implemented a series of stimulus measures in late September, which boosted trading volumes. Average daily volumes surged to about HK$300 billion, more than double the yearly average, supported by Hong Kong’s interest rate cuts that bolstered investor confidence.
HKEX's CEO Bonnie Chan remarked that the vibrancy of Hong Kong's markets was evident in late September, with investor sentiment improving after economic stimulus announcements from mainland China and monetary easing by major central banks.
HKEX's share price has jumped nearly 30% since the Chinese market support measures were deployed on Sept 23, while Hong Kong’s Hang Seng Index rose 13% during the same period.
IPO activity also surged, with HK$42.2 billion raised between July and September, more than tripling the amount from the first half of the year. HKEX pledged to reduce IPO vetting time from 173 to around 100 business days.
Net investment income for the third quarter rose 41%, driven by higher fair value gains in externally-managed investment funds, while core business revenue increased by 3%.
The positive results reflect the impact of China’s stimulus measures and the Hong Kong bourse's strategic adjustments to improve market participation and confidence.
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