Glonghui, April 25 | Continuing its recent strength, the Hong Kong Stock Exchange (0388.HK) rose more than 4% to HK$249.6 today. For the fourth day in a row, the stock price hit a new high since March 14, and climbed more than 16% on the 4th. The recent continuous rise in the stock price of the Hong Kong Stock Exchange has been catalyzed by multiple factors: the China Securities Regulatory Commission recently released the “5 Capital Market Cooperation Measures”, including easing the scope of eligible products for stock ETFs under the Shanghai, Shenzhen, Hong Kong Stock Connect, supporting the integration of RMB stock trading counters into Hong Kong Stock Connect, optimizing mutual fund recognition arrangements and supporting the listing of leading mainland companies in the Hong Kong industry to further expand and optimize the Shanghai-Shenzhen-Hong Kong Stock Connect mechanism, help Hong Kong, China consolidate and enhance its status as an international financial center, and jointly promote the collaborative development of the capital markets of the two places. In addition, the results announced by the Hong Kong Stock Exchange yesterday afternoon showed that Q1 revenue and other earnings were HK$5.2 billion, down 6% year on year, but higher than market expectations of HK$4.97 billion, up 7% month on month; net profit of HK$2.97 billion, down 13% year on year, but higher than market expectations of HK$2.81 billion, up 14% month on month. The Hong Kong Stock Exchange said. The average daily turnover of the spot market in the first quarter of this year was HK$99.4 billion, down 22% year on year and up 9% month on month. The average daily turnover in March and April has clearly rebounded, and since March, the average daily turnover has rebounded to the level of HK$100 billion. Also worth noting is that the Hong Kong Stock Exchange has appointed Tang Ka-shing to replace Smellen as the chairman of the board of directors. The Hong Kong Stock Exchange announced yesterday after its annual shareholders' meeting. The board of directors decided to appoint Tang Jiacheng, 69, to succeed Smellen as the chairman of the board of directors. Smellen was appointed as a senior adviser to the board of directors, and the first chairman of the Hong Kong Stock Exchange to remain an advisor even after his retirement.