HKEX (SEHK:388) Stock Can Record Profit Justify Its Premium P E

Simply Wall St.08-21

Hong Kong Exchanges and Clearing stock closed at HK$417.8 after a steady run in recent weeks, yet today’s move barely hints at how strong this earnings print looks on a multi year view. The headline ...

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The headline ...</p>\n\n<a href=\"https://simplywall.st/stocks/hk/diversified-financials/hkg-388/hong-kong-exchanges-and-clearing-shares/news/hkex-sehk388-stock-can-record-profit-justify-its-premium-p-e\">Source Link</a>\n\n</div>\n","source":"simplywall_highlight","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>HKEX (SEHK:388) Stock Can Record Profit Justify Its Premium P E</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\">\nHKEX (SEHK:388) Stock Can Record Profit Justify Its Premium P E\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-08-21 02:24 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://simplywall.st/stocks/hk/diversified-financials/hkg-388/hong-kong-exchanges-and-clearing-shares/news/hkex-sehk388-stock-can-record-profit-justify-its-premium-p-e><strong>Simply Wall St.</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Hong Kong Exchanges and Clearing stock closed at HK$417.8 after a steady run in recent weeks, yet today’s move barely hints at how strong this earnings print looks on a multi year view. The headline ...</p>\n\n<a href=\"https://simplywall.st/stocks/hk/diversified-financials/hkg-388/hong-kong-exchanges-and-clearing-shares/news/hkex-sehk388-stock-can-record-profit-justify-its-premium-p-e\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0650527681.SGD","symbol_name":"Fidelity China Consumer A-SGD","start_time":0,"source_url":"https://simplywall.st/stocks/hk/diversified-financials/hkg-388/hong-kong-exchanges-and-clearing-shares/news/hkex-sehk388-stock-can-record-profit-justify-its-premium-p-e","article_id":"2661583422","we_media_id":null,"thumbnails":["https://images.simplywall.st/asset/industry/1033402-choice2-main-header/1585186850577"],"rights":{"source":"simplywall_highlight","url":"https://simplywall.st/stocks/hk/diversified-financials/hkg-388/hong-kong-exchanges-and-clearing-shares/news/hkex-sehk388-stock-can-record-profit-justify-its-premium-p-e","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2661583422","pubTimestamp":1787250288,"columns":[],"sourceInfo":{"source_id":"simplywall_highlight","name":"Simply Wall St."},"weMediaInfo":null,"summary":"Hong Kong Exchanges and Clearing stock closed at HK$417.8 after a steady run in recent weeks, yet today’s move barely hints at how strong this earnings print looks on a multi year view. The headline is simple: HKEX just delivered record first half revenue of HK$16.7b and profit after tax of HK$10.6b, with earnings per share at HK$8.36.\nFor a market operator built on trading velocity rather than hardware or factories, those records matter. They come at a time when the stock already trades on a...","collect":0,"end_time":0,"defaultTopTitle":"simplywall.st","property":[],"viewcount":null,"language":"en","relate_stocks":{"80388":"香港交易所-R","LU0650527681.SGD":"Fidelity China Consumer A-SGD","LU0196878994.USD":"MANULIFE GF CHINA VALUE \"AA\" (USD) INC","LU0048597586.USD":"富达亚洲焦点A","LU0061477393.USD":"CT (LUX) I ASIA EQUITY INCOME \"AU\" (USD) ACC","LU1481107354.HKD":"HSBC GIF HONG KONG EQUITY \"AD\" (HKD) INC","LU0572944931.SGD":"Janus Henderson Horizon China Opportunities A2 SGD","LU0784639295.USD":"JPM ASIA PACIFIC INCOME \"A\" (USD) INC (M)","LU0594300179.USD":"FIDELITY CHINA CONSUMER \"A\" (USD) ACC","LU1105468828.SGD":"Allianz Total Return Asian Equity AM DIS H2-SGD","LU0348825331.USD":"ALLIANZ CHINA EQUITY \"A\" (USD) INC","LU1051768304.USD":"贝莱德新兴市场股票收益A6","LU0791591158.USD":"ALLSPRING  EMERGING MARKTES EQUITY INCOME \"I\" (USD) ACC","LU1044874839.SGD":"THREADNEEDLE (LUX) ASIAN CONTRARIAN EQUITY \"AGH\" (SGDHDG) ACC","HK0000151867.HKD":"JPMORGAN ASIA EQUITY DIVIDEND (HKD) INC","LU0918141887.USD":"安联亚洲实际收益股票基金","LU0488056044.USD":"Allianz Asian Multi Income Plus Cl AM DIS USD","LU0630378429.USD":"HSBC GIF ASIA PACIFIC EX JAPAN EQ HD \"AM2\" (USD) INC","HK0000107257.USD":"BEA UNION INVESTMENT ASIA PACIFIC MULTI INCOME \"A\" (USD) INC A","LU0169518387.USD":"JPM ASIA EQUITY \"A\" ACC","LU0106959298.USD":"UBS (LUX) EQUITY FUND - EMERGING MARKETS SUSTAINABLE LEADERS (USD) \"P\" (USD) ACC","LU0165289439.USD":"HSBC GIF ASIA EX JAPAN EQUITY \"AC\" ACC","LU0762540952.USD":"HSBC GIF MANAGED SOLUTIONS ASIA FOCUSED INCOME \"AC\" (USD) ACC","LU1282648689.USD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AMG\" (USD) INC","LU0417516902.SGD":"Allianz China Equity Cl AT Acc SGD","LU1242518857.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"I\" (USD) ACC","LU0197773673.USD":"HSBC GIF ASIA PACIF EX JAPAN EQ HD \"AS\" (USD) INC","LU0955623706.USD":"SCHRODER ISF ASIAN DIVIDEND MAX \"A\" (USD) ACC","LU1813983027.USD":"MANULIFE GF DRAGON GROWTH \"AA\" (USD) INC","00388":"香港交易所","LU1993786604.SGD":"UBS (LUX) EQUITY SICAV ALL CHINA \"P\" (SGD) ACC","SG9999001846.SGD":"Schroder Asian Equity Yield A Dis SGD","IE0003851619.USD":"BNY MELLON ASIAN EQUITY \"B\" (USD) ACC","LU0516422952.EUR":"FULLERTON LUX FUNDS - ASIA FOCUS EQUITIES \"I\" (EUR) ACC","LU0762541174.USD":"HSBC GIF MANAGED SOLUTIONS ASIA FOCUSED INCOME \"AM2\" (USD) INC","IE00BZ08YR35.GBP":"GUINNESS BEST OF CHINA \"C\" (GBP) ACC","LU0648948544.HKD":"ALLIANZ ASIAN MULTI INCOME PLUS \"AM\" (HKD) INC","LU0501845795.SGD":"瑞银大中华区股票基金P Acc SGD","LU0067412154.USD":"UBS (LUX) EQUITY FUND -  CHINA OPPORTUNITY \"P\" (USD) ACC","LU0819123356.HKD":"HSBC GIF MANAGED SOLUTIONS ASIA FOCUSED GROWTH \"AC\" (HKD) ACC","HKXCY":"香港交易所ADR","LU0348735423.USD":"ALLIANZ HONG KONG EQUITY \"A\" (USD) INC","LU0651946864.USD":"贝莱德新兴市场股票收益A2","LU0605514214.HKD":"FIDELITY CHINA CONSUMER \"A\" (HKD) ACC","LU0359201612.USD":"贝莱德中国基金A2","LU1048588211.SGD":"Blackrock Asian Dragon A2 SGD-H","LU1366334651.USD":"ALLSPRING EMERGING MARKETS EQUITY INCOME \"I\" (USD) INC","LU0314109678.HKD":"MANULIFE GF DRAGON GROWTH \"AA\" (HKD) INC","LU0456846285.SGD":"JPMorgan Funds - Greater China A (acc) SGD"},"translate_title":"港交所 (SEHK:388) 股票可录得利润证明其溢价是合理的","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"80388":0.6,"HKXCY":0.6,"HEXmain":0.6,"00388":1.5},"content_text":"Hong Kong Exchanges and Clearing stock closed at HK$417.8 after a steady run in recent weeks, yet today’s move barely hints at how strong this earnings print looks on a multi year view. The headline is simple: HKEX just delivered record first half revenue of HK$16.7b and profit after tax of HK$10.6b, with earnings per share at HK$8.36. For a market operator built on trading velocity rather than hardware or factories, those records matter. They come at a time when the stock already trades on a rich P/E multiple. The question now is how long this earnings strength can support that premium. Impressed by Hong Kong Exchanges and Clearing posting record revenue and profit but wondering if that rich P/E leaves you exposed to valuation risk? Balance quality with price by scanning our 277 high quality undervalued stocks. AdvertisementQ2 2026 Earnings Summary  Total Revenue (Q2 2026 vs Q2 2025): HK$8,416m vs. HK$7,080m (+18.9%) Net Income (Excl. Extra Items) (Q2 2026 vs Q2 2025): HK$5,380m vs. HK$4,442m (+21.1%) Basic EPS (Q2 2026 vs Q2 2025): HK$4.26 vs. HK$3.51 (+21.4%) Net Profit Margin (Trailing 12 Months vs Prior Year): 62.9% vs. 60.3% (margin higher year on year)  If you are tired of scrolling through dense earnings tables and rows of figures for Hong Kong Exchanges and Clearing, you can see the full visual picture of the stock with a clear view of its valuation in our company report for Hong Kong Exchanges and Clearing. SEHK:388 Trailing 12-Month Revenue & Expenses Breakdown as at Aug 2026 HKEX Growth Story Meets Key Volume And Product Milestones The bullish story around Hong Kong Exchanges and Clearing is that a broader multi asset platform and deeper China access will shift the business away from simple equity turnover. The latest half year numbers show that thesis starting to line up with reality. Record headline average daily turnover of HK$283b, together with record levels in Stock Connect, derivatives and London Metal Exchange contracts, points to both of the company’s claimed growth engines working at the same time. Several of the specific milestones bulls have been watching are now visible in the results. Exchange traded products have risen to 17% of headline turnover, compared with about 5% in 2021, which supports the push into ETFs and other listed products. The launch of 5 year China Government Bond futures adds a tangible building block to the fixed income and currencies franchise and fits the goal of making Hong Kong the default offshore gateway to China’s bond market. Compare Hong Kong Exchanges and Clearing's record turnover, product milestones and multi asset push with what institutional analysts are actually pricing in. See the consensus price target analysis for Hong Kong Exchanges and Clearing HKEX Bears Still Waiting For Structural Cracks The bearish story around Hong Kong Exchanges and Clearing is that structural risks in cross border flows and listings will eventually cap revenue growth and pressure earnings quality. This half year does not really give that argument the clear validation it needs. Record average daily turnover across cash, derivatives, Stock Connect and LME volumes directly counters fears of shrinking secondary activity, and Hong Kong ranking #2 globally for IPOs challenges the idea that issuers are already turning away in size. Where bears do find some foothold is in mix and sustainability. Net investment income fell as margin fund returns softened and rebates increased, which supports concerns about more volatile, rate sensitive income streams. Operating expenses also rose faster than revenue, which fits the risk of margin pressure as HKEX funds new products and technology. Those are important, but they are execution issues rather than clear structural volume erosion so far. After rising expenses and softer margin income, are these just surface issues or early signs of deeper fragility? Review our risk analysis for Hong Kong Exchanges and Clearing which shows 1 important warning sign. Stay Ahead With Simply Wall St If Hong Kong Exchanges and Clearing’s record revenue, profit and turnover have caught your attention, register for free with Simply Wall St and add it to a Watchlist to track price against fair value and watch for a better entry point. Once you own the stock, use the Portfolio Command Center to cut through noise and keep on top of only the most important developments across your holdings. For a longer term view, tap into crowd opinion and different angles on Hong Kong Exchanges and Clearing through the Community. By spotting potential catalysts and risks early, you give yourself a better shot at staying ahead of the market. Seeking Fresh Alternatives Beyond HKEX Some stocks are already building quiet breakout momentum while others are still flying under the radar for now. Spot the ones that matter before the crowd and get in early.  Target sturdier cash flows and lower balance sheet stress by scanning a curated list of solid balance sheet and fundamentals stocks (434 results). This can be done before potential quality premiums get fully priced in. Consider potential income momentum by reviewing hand picked 433 dividend fortresses while yields still look appealing and sentiment has not fully caught up. Track early movers in AI infrastructure by screening carefully selected 55 AI infrastructure stocks while these themes are still building attention and are not already priced for perfection.   This article by Simply Wall St is general in nature. We provide commentary based on historical data\n        and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your\n        financial situation. We aim to bring you long-term focused analysis driven by fundamental data.\n        Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.\n        Simply Wall St has no position in any stocks mentioned.Valuation is complex, but we're here to simplify it.Discover if Hong Kong Exchanges and Clearing might be undervalued or overvalued with our detailed analysis, featuring fair value estimates, potential risks, dividends, insider trades, and its financial condition.Access Free AnalysisHave feedback on this article? Concerned about the content? Get in touch with us directly. 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