JPMorgan Trims HKEX (00388) Price Target to HK$490, Cuts Volume and Earnings Forecasts

Stock News10-22

JPMorgan has released a research report lowering its price target for HKEX (00388) from HK$520 to HK$490 while maintaining its "Overweight" rating.

Due to lower trading volume forecasts, the bank has cut its earnings per share projections for HKEX for 2026 to 2028 by 1%, 3%, and 3% respectively, which are 4%, 6%, and 7% below market expectations.

The bank now expects HKEX's average daily turnover for 2026 to 2028 to be HK$597 billion, HK$619 billion, and HK$661 billion respectively, while average daily volume for derivatives is projected at 1.73 million, 1.954 million, and 2.208 million contracts respectively.

For Hong Kong cash equities, including southbound capital, average daily turnover is forecast at HK$251 billion, HK$240 billion, and HK$252 billion respectively.

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