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Hong Kong Exchanges & Clearing Raised to Buy From Hold by DBS Group Research >0388.HK
Hong Kong Exchanges & Clearing Target Price Raised to HK$377 From HK$245 by DBS Group Research >0388.HK
HK stock market anomaly | Hong Kong Stock Exchange (00388) rebounds by over 5%, expecting to release third quarter performance on October 23rd. The active market at the end of September is expected to boost revenue during the uplifting period.
HKEX (00388) rebounded more than 5%, as of press time, up 5.4%, at 339.4 Hong Kong dollars, with a turnover of 4.111 billion Hong Kong dollars.
DBS Bank: Upgraded Hong Kong Exchanges and Clearing Limited (00388) rating to "buy" with a target price raised to 377 Hong Kong dollars.
DBS also raised its forecast for the average daily trading volume (ADT) of the Hong Kong Stock Exchange to 120 billion yuan and 144 billion yuan for the next two years.
Dahua Technology : downgraded by Hong Kong Exchange to "hold", target price raised to 355 Hong Kong dollars
Dahua Jixian released a research report stating that it downgraded the rating of Hong Kong Exchanges and Clearing Limited (00388) to "hold" with the target price raised from 300 Hong Kong dollars to 355 Hong Kong dollars. Hong Kong Exchanges and Clearing Limited will announce its third-quarter performance on October 23, expecting to be driven by the innovative high average daily turnover of 350.3 billion yuan in the last five trading days of September, with the average daily turnover in the third quarter expected to increase by 20.7% year-on-year to 118.8 billion yuan, leading to a 9.3% increase in quarterly main business revenue. However, due to the decrease in interest rates dragging down net investment income, Dahua Jixian predicts that the growth rates of revenue and net profit of Hong Kong Exchanges and Clearing Limited within the forecast period may be lower, reaching 6% respectively.
UOB Kay Hian Downgrades Hong Kong Exchanges and Clearing to Hold From Buy; Price Target Is HK$355
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