On July 11, news reported, $HKEX (00388.HK)$In the afternoon, the stock price rose over 4%, reaching HKD 431.6, hitting a new high since early 2022, with a trading volume of nearly HKD 4 billion.
In terms of news, the Hong Kong Stock Exchange plans to announce its second quarter Earnings Reports on August 20. CICC expects revenue to grow by 27% year-on-year and remain stable at RMB 6.87 billion quarter-on-quarter. Revenue from main Business expenses is expected to grow by 30% year-on-year, remaining stable at RMB 5.48 billion quarter-on-quarter; profit is expected to grow by 31% year-on-year and 1% quarter-on-quarter to RMB 4.12 billion. The Hong Kong Stock Exchange is expected to achieve a year-on-year revenue growth of 29% in the first half of the year, reaching HKD 13.73 billion; profit is expected to increase by 34% to HKD 8.2 billion.
China Securities Co.,Ltd. stated that benefiting from the continuous inflow of southbound funds, the market trading volume continued to maintain high growth year-on-year. In terms of IPOs, in the second quarter, many leading listed companies in A-shares went to Hong Kong, driving an increase in IPO financing amounts. In Q2 2025, the number of newly listed companies increased by 27, a year-on-year increase of 9 compared to the same period last year, with IPO fundraising amounting to HKD 88.043 billion, up 906.67% year-on-year. In terms of derivatives trading, Q2 2025 saw an increase in trading volume for derivatives and commodity contracts, possibly due to increased demand for market risk hedging.
Finally, from late April to early May, influenced by continuous fund buying, large IPO listings, and short covering in Asia’s MMF, both 1-month and 6-month HIBOR rates declined overall. However, due to the time lag in the company’s investment return rates, the above effects are limited. Looking ahead, considering policy catalysts and the characteristics of HKEX’s own business, the current stock price still has a certain expectation gap, maintaining a ‘Buy’ rating.
Editor/rice
