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<Research>JPM: HKEX (00388.HK) 4Q25 NP Beats; YTD ADT Rebounds; IPO Pipeline Accelerates
Recommend 9 Positive 11 Negative 7 |
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HKEX (00388.HK) announced a net profit of $4.3 billion for 4Q25, down 12% QoQ and up 15% YoY, beating JPMorgan's forecast by 19%, JPMorgan released a research report saying. FY2025 profit amounted to $17.8 billion, up 36% YoY, 2% ahead of market consensus. Following seasonal weakness in December 2025, trading volumes have regained strength, with the YTD average daily turnover being around $260 billion, even including the weaker Lunar New Year (LNY) period last week. Moreover, HKEX entered 2026 with over 400 active IPO applications, a significant increase from 297 in 3Q25. Therefore, the broker expected share price strength, and kept rating at Overweight on HKEX, with a target price of $540. AASTOCKS Financial News Website: www.aastocks.com |
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