0914 GMT - Hong Kong Exchanges & Clearing is expected to benefit from increasing turnover and a potential revival of capital market activities in China, OCBC says in a research note. OCBC believes HKEX's solid average daily turnover momentum should be sustainable, driven by improving market sentiment and a pick up in IPO activity. HKEX's unique position in connecting mainland Chinese companies with global markets further supports its outlook, OCBC says. Following home appliance giant Midea's listing last year, CATL, the world's largest EV battery maker, plans to list in Hong Kong this year as well. "Despite the recent share price rally, we believe the re-rating will be sustainable alongside with improving ADT," it adds. OCBC maintains a buy call on HKEX, with a fair value estimate of HK$440.00. Shares last ended at HK$380.00. (sherry.qin@wsj.com)
(END) Dow Jones Newswires
February 28, 2025 04:14 ET (09:14 GMT)
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