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大摩：维持港交所“逊于大市”评级 目标价221港元

Tama: Maintaining the Hong Kong Stock Exchange's “lower than the market” rating, target price of HK$221

新浪港股 ·  Apr 16 04:45

According to a research report released by Morgan Stanley, the performance of the Hong Kong Stock Exchange (00388) in the first quarter of this year is expected to decrease 11% and 17% year on year, respectively. This is being dragged down by a 22% year-on-year decline in average daily trading volume and a higher cost-to-revenue ratio. It believes that it is still in a challenging environment, with a target price of HK$221, maintaining a “lower than market” rating. Damo said that although interest rates in the first quarter of this year were higher than in the first quarter of last year, net investment income is still expected to decrease 22% year over year to about 1.2 billion yuan due to lower profit scales, and its earnings per share for the first quarter of this year are expected to be 2.23 yuan.

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