Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
<Research> UOB Kay Hian Raises HKEX (00388.HK) TP to HKD556, 1Q Profit Far Exceeds Expectations
Recommend 11 Positive 14 Negative 4 |
||||
|
||||
|
UOB Kay Hian issued a research report stating that HKEX (00388.HK) recorded a 27% increase in first-quarter profit to HKD5.2 billion, far exceeding market and the brokers expectations of 12% to 14%. Its core revenue, net interest income and cost control were all significantly better than expected. The broker noted that HKEX was supported by rising trading volumes in the cash and commodities markets, as well as a buoyant IPO market, driving core revenue up 25% YoY. Net interest income was 29% above the brokers forecast, benefiting from foreign exchange gains and an expansion in the LME fund size. In addition, thanks to effective cost control, net profit margin edged up 3.8 ppts YoY to 63.2%. The broker maintained a Buy rating on HKEX, raising its TP from HKD545 to HKD556. (sl/da) This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
||||
Copied to Clipboard
 |
||||
