Q2 net profit was HK$3.6bn (+42% YoY). Total trading volume reached a record HK$6.42tn.

Since the May 22 rule changes, cumulative asset outflows have reached a mid-single-digit % of total client assets. In Q3-to-date, net new accounts and trading volume have both weakened QoQ. Meanwhile, resources and the growth focus are shifting to the Intl biz, with Malaysia achieving operating breakeven.