Hong Kong Exchanges and Clearing (HKEX) on Wednesday posted a first-half net profit of HK$6.31 billion – its second-best-ever half-yearly revenue – despite a fall in daily turnover in the securities market.

The group recorded total revenue of HK$10.575 billion, up 18 percent from last year.

But it said the cash market trading volume and IPO activity continued to be impacted by global market fragility.

The average daily turnover in the securities market dropped by 16 percent year-on-year, said CEO Nicolas Aguzin.

At a press conference, Aguzin said IPOs globally also took a hit in the first half of the year with a drop of over 30 percent.

"I would expect as inflation starts to stabilise, interest rate increases are curved and reach their maximum level and we see more supportive policies from coming from the mainland... That combination should be constructive, but it's hard to anticipate when the tide will turn around," he said.

But Aguzin said it was a "good half year for HKEX", as the group's diversification strategy, which aims to reduce its dependence on the cash market, is delivering results.

"We saw an exceptionally strong performance in both Hong Kong derivatives and ETP markets. Each of those sectors reports all-time volume records," he said.

Aguzin said the group is bolstering the city's role in connecting China and the world, citing initiatives such as the expansion of Stock Connect, the launch of SWAP Connect, the Hong Kong Dollar-RMB dual counter model, and the opening of its first office in North America.

The bourse operator will pay an interim dividend of HK$4.5 per share.