Hong Kong Exchanges and Clearing’s next-step strategy is to build a multi-asset ecosystem covering a full spectrum of investment products to better connect capital and opportunities — a move in line with Hong Kong’s planned first five-year plan by solidifying the city as an international financial center.

HKEX CEO Bonnie Chan Yi-ting made the remarks at a Wednesday news conference detailing the bourse’s interim results.

“We have obviously been very strong on the equity side, but we believe that Hong Kong as a whole should branch into other areas such as fixed income, currencies, and commodities, as the city wants to position itself as an FIC (fixed-income and currency) center and build a commodity ecosystem,” Chan said. This strategy “aligns perfectly” with what the Hong Kong Special Administrative Region government has planned, she added.

Chan said a vibrant multi-asset ecosystem covering equities, fixed-income, currencies, commodities, derivatives, indexes and data can satisfy investors’ needs for deeper liquidity, more diverse products, and increasingly sophisticated risk management tools.

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The city’s stock market operator on Wednesday delivered exceptional results for the first half of 2026, with revenue and profit hitting half-yearly records, surpassing those set in the second half of last year.

The bourse’s profit attributable to shareholders reached HK$10.5 billion ($1.34 billion) in the first half of this year — up 24 percent from a year ago. The company announced an annual increase of 24 percent in interim dividend per share to HK$7.43.

Revenue and other income amounted to HK$16.7 billion — a gain of 19 percent from the previous year. Core business revenue, which measures the company’s income from business operation, jumped 19 percent year-on-year to HK$15.4 billion.

The headline average daily trading (ADT) volume on the local stock exchange, including equity and derivatives products, surged 18 percent year-on-year to a record half-yearly high of HK$283 billion.

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The ADT of northbound trading under the Stock Connect program swelled 1.02 times annually to $345.3 billion yuan ($51.24 billion), while that of southbound trading gained 11 percent, to HK$123.1 billion. The Northbound Bond Connect’s ADT increased four percent, to 47.6 billion yuan.

HKEX’s strong interim results are backed by robust market sentiment, strong fundraising demand from technology and artificial intelligence-related companies, and active participation from Chinese-mainland and international investors.

Hong Kong was ranked as the world’s second-largest initial public offering market in the first half of 2026 based on the criterion of total amount of funds raised. There were 87 new listings, raising HK$212.4 billion, representing an annual increase of 97.7 percent and 94.2 percent respectively. There is also an IPO pipeline of more than 400 active applicants.

Chan said 10 overseas companies are applying to list in Hong Kong, as they are enticed by the deep liquidity and strong fundraising capabilities of Hong Kong’s IPO market.

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The CEO also said she believes the conditions for extending trading hours for derivatives are relatively mature as the derivatives market is dominated by institutional investors. For the cash market, it requires more thorough consideration because the market involves a larger number of investors, including local, mainland and regional, retail and institutional investors.

Roy Van Keulen, an equity analyst at United States-based investment research company Morningstar, said: “The most interesting part to watch is whether the exceptional strength in funds raised in the first half will be continued; thus, the IPO pipeline will be a key forward-looking indicator to watch and hear commentary around.”

Citi Research gave a “buy” rating to HKEX with a price target of HK$495 based on a price-to-earnings ratio of a multiple of 31 in 2027 and the ADT level of HK$300 billion. HKEX’s share price rose 2.3 percent to HK$414.6 per share on Wednesday.

Citi Research added that a vibrant IPO market, higher southbound trading level, rising trading share of dual-listed American depositary receipts in Hong Kong, as well as rising trading activity of exchange-traded products and introduction of leveraged products have served as other ADT growth drivers.

The research team also said investing in HKEX involves key downside risks, such as an easing in trading volumes due to deterioration in market sentiment; a rise in geopolitical risks; and a halt in the IPO market.