[ET Net News Agency, 12 April 2018] Nomura lifted its target price for Hong Kong
Exchanges and Clearing (HKEx)(00388) to HK$300.2 from HK$280.9, and upgraded its rating to
"buy" from "neutral".
The research house noted that both equity and derivatives remaining at elevated level in
March. But it also highlight that April-to-date (10 April) volume weakened slightly
to HK$116bn.
The CSRC yesterday announced that the daily quota of southbound will be raised four
times to CNY42bn from CNY10.5bn while northbound daily limit would be raised to CNY52bn
from CNY 13bn effective from 1 May.
Nomura believes the near-term impact brought by this quota upgrade is limited, given
current daily usage around 5-12% on average year-to-date 2018, while it is one of the key
steps for the stock connect program to bring the local mix (HK + Mainland) agency
participation up to 68-72%.
It increased its FY2018-20 earnings forecasts by 7-8%, given better-than-expected
derivatives volumes and cash equity volumes, as well as strong stock connect momentum in
1Q 2018.(KL)
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00388 HKEX
Nominal 
258.800 +17.800 (+7.386%) Others
12/04/2018 10:04
[I-bank focus]Nomura upgrades HKEx (00388) to HK$300.2
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