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Citigroup: Rates HKEX as "sell", with a target price reduced to HKD 230.
Citigroup released a research report stating that it gives a "sell" rating on Hong Kong Stock Exchange (00388), and lowers the earnings per share forecast for the fiscal years 2024 to 2026 by 1% to 3% to reflect the downward adjustment of the average daily turnover forecast. The target price is lowered from HK$240 to HK$230. The company's performance for the second quarter is expected to be good but with uncertain growth prospects. Due to the market sentiment weakening again, the average daily turnover since July is about 100 billion yuan. Citigroup pointed out that Hong Kong Stock Exchange will announce the second quarter results on August 21. The bank predicts that the second quarter net profit will reach 3.3 billion yuan, an increase of 10% and 12% quarter-on-quarter and year-on-year, respectively, which is 2% higher than the market forecast.
Hong Kong Exchanges & Clearing's Earnings Appear to Be Bottoming Out -- Market Talk
Hong Kong Exchanges & Clearing Target Price Cut to HK$310.00 From HK$317.00 by UOB KH >0388.HK
Citigroup: downgrade Hong Kong Stock Exchange (00388) to "sell" rating, target price lowered to HKD 230.
Citigroup has lowered its earnings per share forecast for Hong Kong Exchanges and Clearing (0388.HK) by 1% to 3% for the fiscal years 2024 to 2026.
Hong Kong Exchanges & Clearing Target Price Cut to HK$230 From HK$240 by Citigroup >0388.HK
Ba Shusong: RMB has become a currency anchor for some Central Asian and Southeast Asian countries.
"China and Global Economic Forum in 2024" will be held on July 20th, with the theme of "China power and the new chapter of global economy: development and prospects". Ba Shusong, Managing Director and Chief China Economist of Hong Kong Exchange, Chief Economist of China Banking Association, and Executive Dean of HSBC Business School, Peking University attended the forum and delivered a speech. Regarding the internationalization process of the yuan (mmf), Ba Shusong pointed out that by observing recent economic data, it can be found that the growth of yuan (mmf) settlement in the field of trade settlement is very rapid, but it is decreasing in the use of investment and reserve currency, which forms a contrast. In addition, in
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Cui Nyonya Kueh :![](https://emoticon.futunn.com/rich_daily_life/O_02.png)