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<Research>Citi Upgrades HKEX (00388.HK) to Buy, Lifts TP to $370
Recommend 40 Positive 79 Negative 31 |
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The development of AI fueled investors' enthusiasm for techs, driving a surge in the turnover of the Hong Kong stock market, Citi Research issued a research report saying. The YTD average daily turnover of Hong Kong stocks amounted to $194 billion, much higher than the market's general expectation of $145 billion/ $132 billion in 2025/ 2024. HKEX (00388.HK) is a major beneficiary of the rebound in market sentiment. Citi Research believed that the recent AI boom will continue to support Hong Kong stock turnover, while the revival of IPO activity is also favorable to HKEX. The higher-for-longer interest rates in the US is expected to benefit investment income. Therefore, the broker upgraded HKEX from Sell to Buy, and lifted its target price from $275 to $370. AAStocks Financial News |
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