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Stock News05-05

UBS released a research report indicating that Hong Kong Exchanges and Clearing Limited (HKEX) reported first-quarter revenue of HKD 8.2 billion. This represents a year-on-year increase of 20% and a quarter-on-quarter increase of 12%, surpassing both the firm's and market expectations. Net profit rose 27% year-on-year to HKD 5.2 billion, exceeding consensus forecasts by a range of 9.7% to 12.5%. The performance exceeded expectations across the board, encompassing core business segments and net investment income. UBS anticipates a positive market reaction to the results. Although market activity has seen a moderate sequential slowdown in the second quarter to date, it has remained resilient. The bank has assigned HKEX a "Neutral" rating with a target price of HKD 450.

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