Hong Kong Exchanges & Clearing’s net profit and revenue jumped to new quarterly records as improved market sentiment boosted trading and listing activity in the Asian financial hub, boding well for the exchange operator’s prospects in 2025.

The stock-exchange operator said Thursday that net profit reached a fourth-quarter high of 3.78 billion Hong Kong dollars, equivalent to US$486.2 million, climbing around 46% from a year earlier. Revenue and other income increased 31% to HK$6.38 billion–a new quarterly record–as trading and clearing fees rose across the cash, derivatives and commodities markets, the company said.