CITIC SEC: Maintains "Buy" rating on HKEX (00388) with a target price of HK$419.

CITIC SEC released a research report stating that it maintains a target price of HKEX (00388) at 419 Hong Kong dollars and maintains a "buy" rating. The bank stated that Average Daily Turnover (ADT) is a key reference indicator for trading on the Hong Kong Stock Exchange, and the bank analyzed factors influencing ADT. Turnover rate is at a historical high, but valuation recovery is still in its early stages, with short-term Beta market trends expected to continue. In the medium to long term, the Hong Kong Stock Exchange is seen as a battleground for the new economy, with technology stock trends and low volatility strategies boosting market trends, and financing expected to pick up. With a diversified income structure and tax rate adjustments, it is expected that performance sensitivity will decline by 2025.