Hong Kong Exchanges & Clearing's 2026 Revenue Expected to Fall Slightly -- Market Talk

Dow Jones16:36

0836 GMT - Hong Kong Exchanges & Clearing's 2026 revenue is expected to fall by a low single digit percentage, Morningstar analyst Roy Van Keulen says in a note. While the exchange operator's 2025 results exceeded his expectations thanks to Chinese government stimulus in September 2024, last year's elevated trading activity is cycling off and U.S. tariffs will continue to weigh on the Chinese economy. The exchange enjoys a privileged position as the gateway between China and global markets, but its fate is tied to the mainland economy, which remains soft given continuing deflation in the housing market and high youth unemployment, he adds. Morningstar increases its fair value estimate on HKEX by 4% to HK$390.00, and considers its shares slightly overvalued despite the recent pullback. Shares last closed at HK$419.00. (jason.chau@wsj.com)

(END) Dow Jones Newswires

February 27, 2026 03:36 ET (08:36 GMT)

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The exchange enjoys a privileged position as the gateway between China and global markets, but its fate is tied to the mainland economy, which remains soft given continuing deflation in the housing market and high youth unemployment, he adds. Morningstar increases its fair value estimate on HKEX by 4% to HK$390.00, and considers its shares slightly overvalued despite the recent pullback. Shares last closed at HK$419.00. (jason.chau@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  February 27, 2026 03:36 ET (08:36 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Hong Kong Exchanges & Clearing's 2026 Revenue Expected to Fall Slightly -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHong Kong Exchanges & Clearing's 2026 Revenue Expected to Fall Slightly -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-02-27 16:36</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0836 GMT - Hong Kong Exchanges &amp; Clearing's 2026 revenue is expected to fall by a low single digit percentage, Morningstar analyst Roy Van Keulen says in a note. While the exchange operator's 2025 results exceeded his expectations thanks to Chinese government stimulus in September 2024, last year's elevated trading activity is cycling off and U.S. tariffs will continue to weigh on the Chinese economy. The exchange enjoys a privileged position as the gateway between China and global markets, but its fate is tied to the mainland economy, which remains soft given continuing deflation in the housing market and high youth unemployment, he adds. Morningstar increases its fair value estimate on HKEX by 4% to HK$390.00, and considers its shares slightly overvalued despite the recent pullback. Shares last closed at HK$419.00. (jason.chau@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  February 27, 2026 03:36 ET (08:36 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1807302812.USD","symbol_name":"UBS (LUX) EQUITY SICAV ALL CHINA \"P\" (USD) ACC","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2614807488","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2614807488","pubTimestamp":1772181360,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0836 GMT - Hong Kong Exchanges & Clearing's 2026 revenue is expected to fall by a low single digit percentage, Morningstar analyst Roy Van Keulen says in a note. 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While the exchange operator's 2025 results exceeded his expectations thanks to Chinese government stimulus in September 2024, last year's elevated trading activity is cycling off and U.S. tariffs will continue to weigh on the Chinese economy. The exchange enjoys a privileged position as the gateway between China and global markets, but its fate is tied to the mainland economy, which remains soft given continuing deflation in the housing market and high youth unemployment, he adds. Morningstar increases its fair value estimate on HKEX by 4% to HK$390.00, and considers its shares slightly overvalued despite the recent pullback. Shares last closed at HK$419.00. 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