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2025-04-25 10:03:10 HKEX (00388.HK) has splashed $6.3 billion to purchase its permanent headquarters premises from Hongkong Land's subsidiary, according to a report from HSBC Global Research. The HKEX management indicated that the entire transaction could be funded by reallocating HKEX's external investment portfolio, which may in turn reduce its investment income. Assuming a 3-6% pre-tax yield on the external investment portfolio, HSBC Global Research estimated HKEX's net investment income to drop by $217-434 million, which will ultimately impact this year’s net profit by 1.4-2.8%. The broker kept a Buy rating and a target price of $411 for HKEX. It believed that HKEX would continue to enjoy multiple tailwinds, considering the rise in average daily turnover, improvement in IPO activity, faster transaction speeds, and its long-term strategic position as a hub connecting Chinese investment opportunities with international investors. ~ AAStocks Financial News Web Site: www.aastocks.com | |