The Zhitong Finance App learned that the Hong Kong Stock Exchange (00388) fell nearly 3%. As of press release, it was down 1.92% to HK$398.4, with a turnover of HK$1,352 billion.
According to a research report, CICC predicts net profit of HK$5.04 billion for the second quarter, up 13% year on year and down 3% from quarter to quarter. The Hong Kong Stock Exchange plans to disclose quarterly results on August 19. The bank expects revenue for the next quarter to increase 12% year on year and drop 1% quarter to HK$8.11 billion. Excluding investment income, main operating expenses revenue will increase 26% year over year and increase 2% to HK$6.95 billion quarterly. According to the report, spot trading activity continued to rise, and activity in the Hong Kong stock market and northbound ADT reached record highs. It is expected that the main fee revenue for the next quarter will increase 26% year-on-year and 2% quarter-on-quarter. Furthermore, the rise in short-term interest rates and the decline in long-term interest rates compounded by a decline in market volatility, and investment returns are expected to be under pressure.
Jefferies said that the quality and demand for IPOs on the Hong Kong Stock Exchange has improved markedly, the breakout rate has been reduced, support from institutional investors has increased, risks at the end of the ban period are manageable, and the rotation of the AI sector and the sell-off in the Korean stock market have created market entry opportunities. The bank raised the HKEx profit forecast for 2026-2027 by 5% and 6% respectively to HK$18.579 billion and HK$19.42 billion to reflect higher average daily turnover, higher IPO capital raised, and higher net interest income expectations.