HKEX 0388

Re: HKEX 0388

Postby winston » Wed May 08, 2019 1:36 pm

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HKEX (00388.HK) 1Q19 IPO Fundraising $21.2B, Down 13% YoY

HKEX (00388.HK) announced that 1Q19 equity funds raised from IPOs totaled $21.2 billion, down 13.1% yearly, whereas that from post-IPOs was $22.2 billion, as compared with $96.5 billion for the corresponding period last year.

As of 31 March 2019, the respective number of companies listed on the Main Board and on GEM was 1,959 and 387.

Source: AAStocks Financial News
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Re: HKEX 0388

Postby winston » Thu May 09, 2019 7:52 am

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Year has started well for HKEX

9 May 2019

The net profit of Hong Kong Exchanges and Clearing (0388) increased 2 percent year-on-year in the first quarter to HK$2.61 billion, as investment income and surging cross-border trading of mainland Chinese shares boosted revenue.

The group's revenue and other income amounted to HK$4.28 billion, up by 3 percent from the corresponding period last year. Basic earnings per share were HK$2.09. No dividend was proposed.

The share price dropped 1.58 percent to HK$261.

"HKEX had a good start to 2019 despite a more challenging macro environment driving year-on-year softness in cash market volumes," said chief executive Charles Li Xiaojia in a stock exchange filing.

He added that the bourse will continue to focus on its three-year strategic plan and good cost discipline.

"Despite the drop in cash market headline ADT and modest declines in trading volume in the derivatives and commodities markets against the first quarter of 2018," he said, "revenue and other income reached record quarterly high."

And a reduction in trading and clearing fees was more than offset by an increase in income from investment schemes and from corporate funds and margin funds, Li said.

Source: The Standard

http://www.thestandard.com.hk/section-n ... 0509&sid=2
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Re: HKEX 0388

Postby winston » Thu May 09, 2019 1:29 pm

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<Research Report>G Sachs Axes HKEX (00388.HK) TP to $275; Maintained Neutral

HKEX (00388.HK) delivered a low quality 1Q19 results beat on volatile investment income.

Excluding investment income and change in accounting principles, its 1Q19 EBITDA and PBT grew 4%-5% YoY only, missing Goldman Sachs' forecasts.

The 2019-22 EPS estimates for HKEX were cut by 1%/ 3%/ 3%/ 3%.

Overall, HKEX was kept at Neutral, with target down from $280 to $275.

Source: AAStocks Financial News
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Re: HKEX 0388

Postby winston » Fri May 10, 2019 10:03 am

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<Research Report>HSBC Research Keeps Hold on HKEX (00388.HK) with Upcoming Challenges

HKEX (00388.HK) recorded 1Q19 profit growth of 2% YoY, with ADT receding 30% YoY (offset by doubling net investment income).

Seeing many upcoming challenges for HKEX, HSBC Global Research suggested that ADT stayed at a relatively contracted level (around $100 billion) amid meager Hong Kong stock market, possibly reflecting continued macro worries.

Overall, HKEX was kept at Hold with an unchanged target of $250.

Source: AAStocks Financial News
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Re: HKEX 0388

Postby winston » Tue May 28, 2019 1:09 pm

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<Research Report>M Stanley: HKEX Valuation Attractive; HK Stocks Trading Velocity May Lift with Alibaba's HK Debut

Morgan Stanley issued a report, covering a wire that Alibaba may apply for second listing in Hong Kong with weighted voting rights (WVR) structure in 2H19, raising US$20 billion, following XIAOMI-W (01810.HK) and MEITUAN-W (03690.HK).

The trading velocity of Hong Kong stocks will increase given higher turnover in these stocks vs old economy stocks, if more techs get listed in Hong Kong, in Morgan Stanley's view.

The trading velocity of Hong Kong stocks will elevate in long term as it will change the expectations around listing pipeline for techs in Hong Kong if Alibaba goes public in Hong Kong.

With 29x 1-year forward, HKEX (00388.HK) is attractive. The rating is Overweight with target price of $340.

Source: AAStocks Financial News
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Re: HKEX 0388

Postby winston » Mon Jun 03, 2019 2:01 pm

<Research Report>JPM Reiterates HKEX (00388.HK) at Overweight; Alibaba's Return to HK Positive

Alibaba's reported intention of return to Hong Kong for second listing, if succeeded, may fuel HKEX (00388.HK)'s daily turnover by $2.2 billion, i.e. 2% of the current daily turnover, said JP Morgan in its report.

Meanwhile, Alibaba's comeback may play a leading role in attracting other Chinese companies with ADR listed in US to pick Hong Kong as second listing place.

Remaining structurally positive on HKEX, JP Morgan reiterated the rating at Overweight with target price of $300.

Source: AAStocks Financial News
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Re: HKEX 0388

Postby winston » Wed Jun 12, 2019 8:45 pm

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Research Report>BofAML: HKEX (00388.HK) Rated Buy on Possible Trade War Benefit

HKEX (00388.HK)'s recent share pick-up was mainly attributed to the news that Alibaba may have second listing in Hong Kong, Bank of America Merrill Lynch said in its report.

News said Alibaba is going to fetch US$20 billion in Hong Kong due to China-US trade tensions, and is expected hit HK$150 billion of turnover per year after listing.

The broker viewed Alibaba may attract other stocks listed by ADR to have second listing in Hong Kong with market cap hitting approximately US$350 billion from these companies.

The rating was maintained at Buy with target price of HK$307.

Source: AAStocks Financial News
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Re: HKEX 0388

Postby winston » Wed Jun 12, 2019 10:07 pm

<Research Report>Citi: HK Stocks' Daily Turnover May Hike 10-15% if Alibaba Comes to List in HK

Bloomberg cited sources that Alibaba intended to have second listing in Hong Kong to raise US$20 billion, saying it will become the fourth largest IPO funding in Hong Kong on record following ABC (01288.HK), ICBC (01398.HK) and AIA (01299.HK), Citigroup said in its report.

The broker envisioned it is meaningful to HKEX (00388.HK), given Alibaba's market cap of US$416 billion, position of top world's enterprise and drive to boost daily turnover of Hong Kong stocks after listing.

Rating was reiterated Buy with target price of $305.

Source: AAStocks Financial News
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