The Zhitong Finance App learned that Citi released a research report stating that it gave the Hong Kong Stock Exchange (00388) a “buy” rating, with a target price of HK$460. The company's profit attributable to shareholders in the third quarter was HK$4.9 billion, down 10% from quarter to quarter and 3% lower than market expectations, but in line with the bank's forecast; core revenue was HK$6.3 billion, down 5% from quarter to quarter, up 1% year on year, 4% lower than market expectations, mainly affected by weak transaction and settlement fee revenue.

During the period, HKEx's investment revenue was HK$980 million, down 23% from quarter to quarter, and 6% lower than market expectations. Operating expenses increased 6% year over year to HK$2.1 billion, outperforming market expectations by 2%. The EBITDA margin was 78.8%, down 1.3 percentage points year over year.

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