While HKEX is “in for a strong year”, Morningstar Equity Research analyst Roy Van Keulen believes current heightened activity will moderate with escalating trade tensions emerging late in 2Q2025 and weighing on market sentiment.
With the Stock Exchange of Hong Kong (SEHK) set to be the world’s top market in terms of IPO proceeds this year, analysts from Morningstar Equity Research and CGS International (CGSI) have eyed the financial results of operator Hong Kong Exchanges and Clearing (HKEX), itself listed on the Hong Kong bourse.
CGSI, which initiated coverage on HKEX in March, raised their fair value estimate to HK$520 ($84.72) in June, expecting “strong” average daily turnover growth to drive some 9% to 25% net profit growth over FY2025 to FY2027.
