0841 GMT - Hong Kong Exchanges & Clearing will likely benefit from growing investor confidence in Chinese equities, DBS Group Research analyst Vanessa Lee writes in a note. China's recent announcements of stimulus measures has ignited market optimism, and strong momentum in trading activity will likely be sustained, Lee says. Higher liquidity from Fed rate cut expectations in 4Q and 2025, potential increase in foreign investor demand and higher southbound connect contribution will continue to drive average daily turnover, Lee adds. DBS retains a buy rating on the stock. It raises its target price to HK$390 from HK$377 on higher Ebitda margins estimates, given better operating efficiency. Shares closed at HK$311.60. (kimberley.kao@wsj.com)
(END) Dow Jones Newswires
October 24, 2024 04:41 ET (08:41 GMT)
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