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<Research>BofAS Raises HKEX (00388.HK) Avg. Daily Turnover Forecasts, Keeps TP at $520
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BofA Securities issued a research report expecting that HKEX (00388.HK)'s 1-3Q25 profit will be $12.9 billion, up 39% YoY. The average daily turnover in 3Q25 amounted to $286 billion, logging an all-time new high.

However, the broker anticipated that HKEX's net investment income will be affected by fluctuations in HIBOR during the period.

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BofA Securities raised its 2025-2027 average daily turnover forecasts for Hong Kong stocks from $240/ 260/ 260 billion to $260/ 270/ 270 billion.

However, based on the low interest rate environment, the broker lowered its net investment income forecasts by 5-7%, meanwhile raising its profit forecasts by 1-2%. BofA Securities kept its target price at $520 for HKEX, and reiterated rating at Buy.
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