CICC: Maintains 'Outperform' rating on Hong Kong Exchanges and Clearing Limited (00388) with target price reduced to HK$440.
Zhongjin expects Hong Kong Exchanges' third-quarter revenue to increase by 6% year-on-year, unchanged from the previous quarter at 5.41 billion yuan.
Express News | Hong Kong Stock Exchange: On October 16th, AIA Group repurchased 977,800 shares of stocks for 62 million Hong Kong dollars.
Hong Kong stocks: Hang Seng Index fell 31 points, mainland real estate stocks surged while consumer stocks softened.
After falling more than 700 points yesterday (the 13th), the Hang Seng Index fluctuated soft today (the 16th), opening low with a 174-point decline before reversing gains, rising to 229 points at 20,548 points, then falling back again before the market close, ending the day with a 31-point or 0.2% decline at 20,286 points; the H shares Index fell by 9 points or 0.1%, closing at 7,267 points; the Hang Seng Tech Index dropped by 48 points or 1.1%, closing at 4,402 points. The total turnover of the market shrank to 208.369 billion yuan for the day. The Ministry of Housing and Urban-Rural Development, together with the People's Bank of China, will hold a press conference tomorrow (the 17th) to promote the development of the real estate market. Mainland real estate stocks surged, with Country Garden (01918.HK) and Sunac China Holding Ltd.
The ICBC Research Report Investment Rating and Target Price (Table) for Hong Kong Stock Exchange (00388.HK)
HKEX will announce the performance for the third quarter of this year on next Wednesday (23rd), benefiting from the increase in average daily turnover of Hong Kong stocks in recent months (daily turnover from July to September was 98.6 billion, 99.5 billion, and 169.2 billion yuan). Our website compiled forecasts from 4 brokerages, expecting HKEX's net profit for the third quarter of 2024 to be between 3.1 billion yuan and 3.152 billion yuan, compared to 2.953 billion yuan for the same period in 2023, with an annual increase of 5% to 6.7%. The median of 3.141 billion yuan is up 6.4% annually. The combined forecasts from 4 brokerages expect HKEX's revenue for the third quarter of 2024 to be between 5.4 billion yuan and 5.47 billion yuan, compared to 50.84 billion yuan for the same period in 2023.
Brokerage expects HKEX (00388.HK) third-quarter net profit to rise by more than 6%, focusing on the sustainability of increased transaction volume.
HKEX will announce the performance for the third quarter of this year on next Wednesday (23rd), benefiting from the increase in average daily turnover of Hong Kong stocks in recent months (daily turnover from July to September was 98.6 billion, 99.5 billion, and 169.2 billion yuan). Our website compiled forecasts from 4 brokerages, expecting HKEX's net profit for the third quarter of 2024 to be between 3.1 billion yuan and 3.152 billion yuan, compared to 2.953 billion yuan for the same period in 2023, with an annual increase of 5% to 6.7%. The median of 3.141 billion yuan is up 6.4% annually. The combined forecasts from 4 brokerages expect HKEX's revenue for the third quarter of 2024 to be between 5.4 billion yuan and 5.47 billion yuan, compared to 50.84 billion yuan for the same period in 2023.
In the third quarter of "Da Hang", the earnings of HKEX (00388.HK) increased by 7% year-on-year to 3.15 billion yuan.
China International Capital Corporation's research report indicated that it is expected that Hong Kong Exchanges and Clearing (00388.HK) will see a 6% year-on-year increase in third-quarter revenue, remaining flat on a quarterly basis at 54.1 billion yuan. Main business income is expected to rise by 8% year-on-year, but fall by 1% quarterly to 41.5 billion yuan, while profits are forecasted to increase by 7% year-on-year to 3.15 billion yuan, remaining flat quarterly. The bank lowered its profit forecasts for Hong Kong Exchanges and Clearing for the next two years by 2% and 6% to 13.1 billion yuan and 14.3 billion yuan respectively, maintaining a "outperform the market" rating, with the target price adjusted down by 8% to 440 yuan. The bank noted that all products experienced significant increases in trading activities in the third quarter due to improved investor sentiment, thereby boosting revenue from the main business. Furthermore, low