Jinwu Financial News | The Hong Kong Stock Exchange (00388) continued to rise. As of press time, it reported HK$247.4, up 3.51%, with a turnover of HK$2.95 billion. Notably, the stock's cumulative increase in the past 4 trading days has reached 15.38%.
According to the Nomura Research Report, the Hong Kong Stock Exchange's revenue for the first quarter of 2024 increased 7% quarterly to HK$5.2 billion, 5% higher than the bank's forecast; quarterly net profit increased 14% to HK$3 billion, 6% higher than the bank's forecast. Earnings and earnings for the first quarter were better than expected, mainly from investment earnings. The bank raised its target price on the Hong Kong Stock Exchange by 0.6% from HK$322.28 to HK$324.31, giving it a “buy” rating.
Lyon said it reaffirmed the Hong Kong Stock Exchange's “buy” rating, and the target price was HK$285. The bank believes that market activity is tepid, showing signs of recovery, and the number of IPOs applied for IPOs rose from 75 to 105. Earlier, the China Securities Regulatory Commission's five measures should help the average daily turnover (ADT) recover, and the renewal of net investment income will support profits.