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<Research>G Sachs: HKEX (00388.HK) Underperforms HSI YTD; Rating Kept at Buy
Recommend 12 Positive 19 Negative 6 |
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The share price of HKEX (00388.HK) has been flat YTD, underperforming the HSI, Goldman Sachs issued a research report saying. The broker believed that this reflects investor concerns over the pace of new listings following the Securities and Futures Commission (SFC)'s remarks on declining quality of listing documents, as well as concerns about the valuation given the relatively high base of average daily turnover and lower investment income, leading to a moderate earnings growth outlook for FY2026. HKEX is scheduled to announce its 4Q25 results on next Thursday (26th). Goldman Sachs expected its 4Q25 net profit to be $3.9 billion, 1% higher than previous forecast, and up 2% YoY. The broker anticipated that earnings excluding investment income will grow by 14% YoY to $2.9 billion. Therefore, Goldman Sachs kept rating at Buy on HKEX, with a target price unchanged at $546. AASTOCKS Financial News Website: www.aastocks.com |
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