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Dahua Jixian: Maintains a "buy" rating for HKEX (00388) with target price raised to 317 Hong Kong dollars.
According to the research report released by Dahua JiXian, due to the improvement of market sentiment caused by real estate support measures and potential dividend tax exemptions for southbound investors, the average daily turnover of HKEx (00388) showed a significant increase on the 24th of last month. Although the net interest income may decrease due to the decline in interest rates, it is expected that under the support of strong recovery in trading-related income, HKEx's revenue and net profit will grow positively in the second quarter of 2024. The target price has been raised from HKD 313 to HKD 317, and the rating remains "buy." The bank said, assuming the overall daily turnover this year will be adjusted upwards from RMB 111 billion to RMB 121 billion.
HKEX (0388): The third quarter is expected to see a significant increase in the number of new listings, with Saudi Arabian companies listing in Hong Kong imminent.
For Hong Kong's new stock market, it is only facing cyclical problems, and its core competitiveness is still there. The number of new listings in the third quarter is expected to increase significantly.
The Hong Kong Monetary Authority has put forward five policy proposals to improve the efficiency and liquidity of the local capital markets.
The Hong Kong Monetary Authority released a research report titled 'Promoting Double Growth of Liquidity and Efficiency: Optimizing Securities Trading Mechanism and Market Operations,' proposing 5 policies aimed at improving efficiency and liquidity in the Hong Kong capital markets. The policy recommendations include: (1) updating the qualification criteria for securities borrowing transactions, deleting and simplifying non-substantive administrative regulations, and expanding exemptions to accommodate the widespread use of actual financing transactions in the market; (2) strengthening the use of Hong Kong stocks as collateral for diversified financial transactions; (3) establishing a fair competitive environment for intermediaries to facilitate activities; (4) enhancing the importance of securities distribution business to stimulate trading activity in the Hong Kong market, and
"Dah Sing" Bank of America Securities: Hong Kong Exchanges and Clearing Limited (00388.HK) recently adjusted its stock price and reaffirmed its "buy" rating.
The NYSE (00388.HK) is down 13 percent from its May high, while the benchmark is down 8 percent for the same period, the U.S. Securities Exchange (00388.HK) reported. The current valuation is 27x the 2024 market earnings. As the average daily turnover of Hong Kong stocks rose from $990 billion in the first quarter to $1.260 billion in the second quarter, the bank expects second-quarter earnings on HKEx to grow. IPO business is the focus. In addition, the Bank pointed out that closer to January 7, the Mainland is expected to announce further details of policies to support the Hong Kong market in the next two to three weeks, such as the expansion of ETFs, the inclusion of real estate investment trusts in the “Shanghai-Shek”, etc.
Singapore container yard operator Yongkang Holdings has submitted an application for listing of new shares.
Singapore container yard operator, Yongkang Holdings, has submitted an application for listing on the Main Board of the Hong Kong Stock Exchange, with Same Capital Finance acting as the sole sponsor. Preliminary prospectus shows that Yongkang Holdings is headquartered in Singapore and operates in China, Hong Kong, Malaysia, Thailand, and Vietnam, mainly providing services to container shipping companies and container leasing companies operating in the ASEAN region and China. Currently, it operates a total of 20 container yards in 10 locations, providing a range of container and logistics-related services under brands including "Yongkang," "PCL," "Mingfeng," "Keyun" and "Yifa". Its total management yard storage area is about 6 hectares.
Small and medium-sized enterprise financial and tax solutions provider Huisuanzhang Holdings, as a part of newly issued shares, has applied for listing in Hong Kong.
Hong Kong-listed applicant "Huisuanzhang Holdings", a provider of financial and tax solutions for mainland Chinese small and micro enterprises, has appointed Citic Securities as its exclusive sponsor. Initial public offering information shows that the company mainly provides AI-enabled financial and tax solutions, including accounting, invoicing, tax compliance, and comprehensive financial management. The company serviced a total of 672,000 small and micro enterprises last year, with a customer retention rate of 79.4%. Huisuanzhang Holdings stated that by leveraging the transformative power of AI, it has used its own machine learning model to construct the cornerstone of the accounting engine. Its core financial and tax SaaS system, the Smart Taxation Program (SATP system), has now accumulated extensive and diverse experience.
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