The duo last issued a glowing report on HKEX on May 27, believing “jumbo IPOs” with fundraising above US$1 billion or HK$7.8 billion ($1.27 billion) will help the bourse become the top market in the world in 2025 in terms of IPO proceeds.
CGS International Research’s Hong Kong analysts Laura Li and Michael Chang think there is even “more share price upside potential” for Hong Kong Exchanges and Clearing (HKEX), on “stronger-than-consensus” forecasts for the stock exchange’s average daily turnover (ADT).
Li and Chang’s “more bullish outlook” is backed by easing US-China tariff tensions since May, “sustainable” Southbound ADT and a “strong jumbo IPO pipeline”.
