0518 GMT - Hong Kong Exchanges & Clearing will likely post strong revenue and net profit growth for 4Q, according to UOB Kay Hian analysts. They expect HKEX to report 43% net profit growth on year, driven by strong cash equity volumes and net investment income. While fewer Fed rate cuts and tariff risks will continue to weigh on investor sentiment, the analysts note efforts to lower transaction costs via new minimum spreads in mid-2025 and the recovering IPO market. These will support underlying headline average daily turnover growth, which has remained resilient, they add. UOB KH lifts its 2025 and 2026 earnings forecasts for the exchange operator by 3.6% and 3.9%, respectively. It retains a buy rating with a target price of HK$352.00. Shares are 0.5% lower at HK$282.60. (kimberley.kao@wsj.com)
(END) Dow Jones Newswires
January 09, 2025 00:18 ET (05:18 GMT)
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