Hong Kong Exchange's Q1 Net Profit Surpasses Expectations

Jin10 reported on May 5 that JPMorgan released a research report indicating that the Hong Kong Exchange (00388.HK) recorded a net profit of 5.2 billion yuan in the first quarter of this year. This represents a 20% increase from the previous quarter and a 27% rise year-on-year. The profit exceeded JPMorgan's expectations by 9%, with strong performance across all business revenues and costs. The trading volume of securities and derivatives remained robust, and the stock price is expected to react positively. JPMorgan has given the Hong Kong Exchange an 'overweight' rating with a target price of 535 Hong Kong dollars.