Goldman Sachs issued a report sayingnewwaxnftgames, confirmed its "buy" rating on the Hong Kong Stock Exchange, raised its target price from HK$341 to HK$345, and raised the company's earnings per share forecast for this year and next by 3% and 2%, reflecting the recent strong trading of Hong Kong stocks. The bank sees more evidence of a bottoming out in the earnings per share cycle, and the stock market P/E ratio is lower than the mid-cycle, providing attractive risk-return.
The bank believes that there are three positive themes driving the stock price of the Hong Kong Stock Exchange, including three indicators that affect the transaction price of the Hong Kong Stock Exchange to rise. The 60-day average daily transaction price of the stock market has rebounded from a low of HK$87 billion in the fourth quarter of last year to HK$120 billion. It will bring huge room for growth while favorable to the macro economy and the profits of listed companies. In addition, transactions of derivatives traded in Hong Kong and London Metal Exchange-traded derivatives increased by 10% and 40% respectively. In addition, the policy of expanding connectivity will expand the relevant profits of the Hong Kong Stock Exchange and make the Southbound Stock Exchange a greater driving force for stock market transactions. In particular, the reduction of dividend tax on southbound investors can further increase the participation of southbound investors. The Hong Kong Stock Exchange and the Securities Regulatory Commission are also studying the launch of treasury bond futures trading.
