Bank of America Securities expects strong earnings from Hong Kong Exchanges and Clearing in the second quarter, stabilizing net profits for the first half of the year.
Bank of America Securities released a report on July 30th, Jins data, which stated that the net profit of Hong Kong borsa (00388.HK) for the first half of the year is expected to be 6.3 billion yuan, a 1% decrease from the same period last year, compared to a 13% decline in the first quarter of this year. The strong performance in the second quarter is mainly due to the recovery in trading volume and the increase in İşlem Hacmi. The increase in Faiz income/investment income due to the increase in assets earning Faiz and the market improvement is also a major driver. Bank of America Securities maintains its forecast for the Hong Kong Stock Exchange unchanged, with a buy rating. The current price is equivalent to a price-earnings ratio of 24 times in 2024, which is attractive, and further policy-driven factors in the second half of the year may push the price up. Ali may be included in the Hong Kong stock connect, IPO in the second half of the year, ETF expansion, and news of a reduction in dividend tax policies.
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Bank of America Securities expects strong earnings from Hong Kong Exchanges and Clearing in the second quarter, stabilizing net profits for the first half of the year.
Bank of America Securities released a report on July 30th, Jins data, which stated that the net profit of Hong Kong borsa (00388.HK) for the first half of the year is expected to be 6.3 billion yuan, a 1% decrease from the same period last year, compared to a 13% decline in the first quarter of this year. The strong performance in the second quarter is mainly due to the recovery in trading volume and the increase in İşlem Hacmi. The increase in Faiz income/investment income due to the increase in assets earning Faiz and the market improvement is also a major driver. Bank of America Securities maintains its forecast for the Hong Kong Stock Exchange unchanged, with a buy rating. The current price is equivalent to a price-earnings ratio of 24 times in 2024, which is attractive, and further policy-driven factors in the second half of the year may push the price up. Ali may be included in the Hong Kong stock connect, IPO in the second half of the year, ETF expansion, and news of a reduction in dividend tax policies.