HKEX 0388

Re: HKEX 0388

Postby winston » Wed Aug 14, 2019 2:01 pm

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<Blue Chip Results>HKEX 1H19 NP Grows 3.3% to Over $5.2B; Div Up to $3.72

HKEX (00388.HK) released the interim results.

It reported a net profit of $5.205 billion, up 3.3% YoY. EPS was $4.16.

An interim dividend of $3.72 per share was declared, above $3.64 over a year ago period.

During the period, revenue and other income added 4.7% YoY to $8.578 billion, driven by an increase in net investment income, including fair value gains on collective investment schemes and higher interest income, and record half-yearly revenue and other income from Stock Connect.

These more than offset a reduction in trading and clearing fees driven by lower Cash Market turnover.

Source: AAStocks Financial News
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Re: HKEX 0388

Postby winston » Wed Aug 14, 2019 2:52 pm

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HKEX: 1H19 Avg Daily Turnover Retreats 23% YoY to $97.9B

HKEX (00388.HK) unveiled the interim results and the major statistics of market transactions for 1H19.

The ADT of equity products traded on the Stock Exchange for the six months ended 30 June 2019 reached $75.1 billion, down approximately 25.2% yearly;

ADT of DWs, CBBCs and warrants traded on the Stock Exchange amounted to $22.8 billion, down about 13% yearly.

The ADT of the Stock Exchange totaled $97.9 billion, down about 22.7% yearly.

Source: AAStocks Financial News
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Re: HKEX 0388

Postby winston » Fri Sep 20, 2019 10:45 am

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State Street Adds HKEX Stake at Over $25B in 3Q; Over 9% Shareholding Surpasses HK Govt

HKEX (00388.HK) disclosed the shareholding of its shareholders in a report about the proposed acquisition of London Stock Exchange.

According to the report, asset manager State Street Global Advisors held 9.17% stake in HKEX on 10 September, higher than the 6% stake held by the Hong Kong government.

State Street disposed of 57,800 HKEX shares at $237.4 each after HKEX's proposal was rejected.

State Street suddenly made bulk purchases of HKEX during 3Q19 (from July to September), adding about 100 million shares, according to Bloomberg data.

State Street's latest shareholding in HKEX reaches 115.2 million shares, or 9.16%, with a market capitalization of $26.5 billion based on the HKEX closing price of $230.2 yesterday.

Source: AAStocks Financial News
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Re: HKEX 0388

Postby winston » Wed Nov 06, 2019 4:05 pm

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<Research Report>BofAML: HKEX (00388.HK) 3Q19 Results Miss on Revenue Drop, LSE Bid Expenses

Bank of America Merrill Lynch mentioned in its research report that HKEX (00388.HK) delivered 9M19 net profit of $7.4 billion, down 1.0% yearly and trailing its expectation.

5.5% QoQ decline in trading fee income and flattish investment income.

$130 million expenses the exchange had booked for the bid of London Stock Exchange, which was scrapped in the end.

The broker kept Neutral on HKEX at the target price $263 unchanged.

Source: AAStocks Financial News
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Re: HKEX 0388

Postby winston » Fri Nov 08, 2019 12:27 pm

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HKEX(388)

Analysis:

The Hong Kong stock market did not perform well in the third quarter, but the performance of the Hong Kong Stock Exchange remained stable.

In last three quarters, the company`s revenue increased by 2% year-on-year to HK$12.57 billion.

EBITDA increased by 3% year-on-year to HK$9.66 billion.

Profit attributable to shareholders decreased by 1% year-on-year.

This is mainly due to the substantial increase in net investment income.

The average amount of funds of the HKEx reached HK$27.8 billion.

The annualized rate of return investment in the first three quarters was 4.71%, which contributed to the company`s investment income of HK$981 million, a s ubstantial increase of HK$653 million compared with the same period last year.

The average daily transaction amount of the equity market in the first three quarters decreased by 22% year-on-year to HK$91.4 billion, of which the third quarter was as low as HK$77 billion.

As a result, transaction fee income in the first three quarters decreased by 18% year-on-year to HK$1.39 billion.

However, as MSCI increased the proportion of A-shares in the MSCI index in three phases, the Shanghai-Shenzhen-Hong Kong Stock Connect was active.

In the first three quarters, Shanghai and Shenzhen-Hong Kong Stock Connect`s revenue and other income were HK$758 million, a nine-month high, and increase of 45.5% year-on-year.

In the third quarter, bond trading volume and investment volume reached a record high, with an average turnover of HK$12.9 billion.

Strategy:
Buy-in Price: $251.00, Target Price: $278.50, Cut Loss Price: $226.80

Source: Phillips
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Re: HKEX 0388

Postby winston » Thu May 07, 2020 3:01 pm

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HKEX (00388.HK) Once Dives 4% after Midday on 1Q NP Fall 13.3%

The company had announced the first quarter results.

Net profit receded 13.3% yearly to $2.262 billion, missing brokers' forecast as compiled by our reporters.

Separately, Chief Executive Charles Li had informed the Board of his intention not to seek reappointment as HKEX Chief Executive at the end of his current contract, in October 2021.

Li confirmed his full commitment to continuing to lead the organisation until the appointment of a successor.

Source: AAStocks Financial News
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Re: HKEX 0388

Postby winston » Thu May 07, 2020 3:04 pm

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HKEX: 1Q20 ADT Adds 20% to $120.9B

During the quarter, ADV of derivatives contracts rose 15% to 761 contracts, notching a new high.

Source: AAStocks Financial News
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Re: HKEX 0388

Postby winston » Fri May 08, 2020 8:10 am

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HKEX 'still doing well' as net shrinks 13pc to $2.2b

by Stella Zhai

Hong Kong Exchange and Clearing's (0388) first-quarter net profit shrank by 13 percent over a year ago to HK$2.26 billion as gains from higher trading volumes were offset by a net investment loss of HK$47 million.

Basic earnings per share were HK$1.8 for the first quarter this year, a 14 percent decrease from a year ago.

The bourse's revenue slid 7 percent from a year earlier to HK$4 billion, with core business revenue rising 19 percent.

HKEX's fees from trading rose 45 percent compared with the first quarter of 2019 as average daily trading turnover surged 20 percent amid high market volatility triggered by the new coronavirus pandemic.

But these gains were outweighed by the loss on investments as compared to gains of HK$882 million a year earlier due to a global markets rout.

The Stock Connect delivered record revenue for the exchange of HK$404 million in the first quarter, up 74 percent from a year earlier, as both northbound and southbound trading rose to all-time highs.

The average daily trading value of the Bond Connect reached a record quarterly high of 19.3 billion yuan (HK$21.1 billion), a more than threefold increase from a year before.

Meanwhile, Hong Kong's initial public offering market ranked first globally by number of IPOs in the first quarter, with 39 company listings, raising HK$14.4 billion and ranking fourth globally, HKEX said in a statement.

Chief executive Charles Li Xiaojia, who is stepping down next year, said despite the first quarter being one of the most volatile and uncertain periods in recent times, HKEX's core businesses in cash, derivatives, and commodities have had a good quarter.

The news of Li's departure was detrimental to share price performance, said Thomas Kwok Ka-on, the head of equity business at Chief Securities.

Laura Cha Shih May-lung, the chairman of HKEX, announced at the annual general meeting that the stock exchange would not apply for the government's Employment Support Scheme, as it was still performing well financially.

Source: The Standard

https://www.thestandard.com.hk/section- ... c-to-$2.2b
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Re: HKEX 0388

Postby winston » Mon May 11, 2020 9:26 am

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Hong Kong Exchange
1Q20 results: Solid operations dragged down by investment loss


HKEx reported a net profit decline of 13% yoy in 1Q20, because of a net investment loss of HK$47m amid a very volatile market (1Q19: HK$882m).

However, revenue (ex-investment income) grew 19% yoy thanks to a 20% increase
in headline average daily turnover (ADT).

The announcement of Charles Li’s departure in Oct 2021 was a negative surprise, but the impact should be limited, since HKEx has about 18 months to find the right successor.

The overall investment thesis remains intact, and the potential listings of JD.com and
NetEase are share price catalysts.

Reiterate ADD with a new target price of HK$291.6.

Source: AAstocks.com

Source: CIMB China Galaxy

https://rfs.cgs-cimb.com/api/download?f ... E1C150FD9D
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Re: HKEX 0388

Postby winston » Tue May 19, 2020 9:27 am

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Indispensable Role As The Bridge Between China And The World

Serving as a bridge between China and the world, HKex has a unique competitive edge that would not be nullified by the CDR programme in the long term, we opine.

In addition to its sustainable dividend yield, the recent divergence between share price and ADTV should support HKex’s earnings and valuation recovery going forward.

Re-initiate coverage with BUY and target price of HK$288.00.

Source: UOBKH

https://research.uobkayhian.com/content ... 8dae7d87da
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