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Express News | London Metal Exchange Says Closely Monitoring Tightness in Aluminium Market, Has Necessary Controls to Ensure Market Orderliness
HK stocks on the move | HKEX (00388) soared 13% in morning trading. Recent policy stimulus led to a sharp increase in volume, with Morgan Stanley raising its target price to HK$390.
HKEX (00388) rose 13% in the morning session, as of the time of publication, up 13%, at HK$368.6, with a turnover of 9.344 billion Hong Kong dollars.
Citi: Maintains 'buy' rating on Hong Kong Exchange, target price raised to HK$390.
JPMorgan released a research report stating that it has raised the target price for Hong Kong Exchanges and Clearing Limited (00388) from HK$280 to HK$390, maintaining a "buy" rating. It is expected that the trading volume of Hong Kong stocks will increase and the market will reassess it at the same time. The bank pointed out that the stock price of the Hong Kong Exchanges and Clearing Limited has risen by 47% in the past two weeks, compared to a 21% increase in the Hang Seng Index. The trading volume surged after the People's Bank of China and the China Securities Regulatory Commission announced stimulus measures. The bank raised its daily average trading volume forecast for Hong Kong stocks for this year, next year, and the year after by 8% to 9%, to HK$258 billion, HK$318 billion, and HK$379 billion respectively, leading to a 5% to 7% increase in earnings per share forecast.
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King's Finance News | The Hang Seng Index was closed all day on Tuesday (1st) for the National Day holiday. The Hang Seng Index closed at 21133 on Monday (30th), up 501 points or 2.4%. The total market turnover reached 238.5 billion yuan. The H-share index closed at 7509 points, up 209 points or 2.9%. The technology index closed at 4751 points, up 298 or 6.7%. Among the 82 blue chips, 58 rose, including Hong Kong Exchanges and Clearing Limited (00388) up 5.7%; Tencent (00700) up 1.6%; Meituan (03690) up 4.5%; A-share turnover hit a record high, with a frenzy in brokerage stocks. China Jinjiang (03908) up 1.
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