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<Research>HSBC Research Slashes HKEX TP to $270 to Reflect Lower Mkt Valuation & Reduced Earnings Forecasts
Recommend 18 Positive 35 Negative 15 |
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HKEX (00388.HK) underperformed the HSI over the past 2 years, with average daily turnover (ADT) dropping to $105 billion in 2023, down 37% from 2021, due to 4 main factors, including geopolitical tensions, high USD interest rates, a weak Chinese economy and reduced market activity, HSBC Global Research issued a research report saying. In addition, HSBC Global Research lowered its 2024/ 2025 EPS forecasts for HKEX by 10%/ 11% each, and kept rating at Buy, with a target price slashed from $352 to $270, reflecting the lower market valuation and reduced earnings forecasts. AAStocks Financial News |
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