メリルリンチ証券は、投資家が香港証券取引所（00388）および政府の流動性改善とIPO調達戦略に注目すると考えています。
Zhitong Finance learned that Merrill Lynch Securities issued a research report stating that it reiterated a "buy" rating on Hong Kong Exchanges and Clearing (00388), and its profit forecast for the next two years was lowered by 3% to 8% due to the expected daily average transaction volume and the forecast of investment income. The target price was lowered by 11% from HK$338 to HK$302.
The bank expects that HKEX's profit last year increased by 19% year-on-year to HK$12 billion; excluding investment and interest income, its core business income is estimated to have fallen by 9% year-on-year; the daily average transaction volume is HKD 105 billion, a decrease of 16% from the HKD 125 billion in the 2022 fiscal year; the total transaction volume also fell by 17% from the same period last year; the total amount of funds raised through IPOs was HKD 46 billion, a year-on-year decrease of 56%. It is believed that the performance of HKEX will be in line with market expectations, and with the new CEO about to take office, investors will pay attention to the company and government's strategies to improve liquidity and IPO fundraising.