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Reuters02:49 ET

Hong Kong Stock Exchange rose 15% in the afternoon, and Morgan Stanley raised its target price to HK$390.

HKEX (00388) rose by 15.08% in the afternoon, now trading at 375.40 Hong Kong dollars, with a turnover of 10.371 billion Hong Kong dollars. JPMorgan issued research reports stating that it has raised the target price of HKEX from 280 Hong Kong dollars to 390 Hong Kong dollars, maintaining a 'buy' rating. It is expected that the trading volume of Hong Kong stocks will increase, leading to market reassessment. The bank pointed out that HKEX's stock price has risen by 47% in the past two weeks, compared to 21% for the Hang Seng Index, and the trading volume surged after the People's Bank of China and the China Securities Regulatory Commission announced stimulus measures. The bank raised its average daily trading volume forecast for Hong Kong stocks this year, next year, and the year after by 8% to 9%, reaching 258 billion yuan each.

Sina Hong Kong stocks01:08 ET

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.

Sina Hong Kong stocks23:39 ET