Citigroup: Downgrades target price for Hong Kong Stock Exchange (00388.HK) to HKD 495, rating "Buy".

According to the Zhitong Finance APP, Citigroup has published a research report stating that it has lowered the target price for the Hong Kong Stock Exchange (00388.HK) by 6.6% from HKD 530 to HKD 495, maintaining an investment rating of "Buy." Citigroup pointed out that Hong Kong's average daily turnover (ADT) can be considered the most important driving factor for the profitability and stock price of the Hong Kong Stock Exchange, as more than half of its revenue comes from stock-related businesses. It is expected that Hong Kong's average daily turnover will nearly double year-on-year to HKD 250 billion by 2025, with further growth in the first half of 2026 to HKD 283 billion, and reaching HKD 307 billion in July.