Furui: Raises HKEX (00388) target price to HKD 513 and maintains a "buy" rating.

Furui released a research report stating that the quality and demand for the Hong Kong Stock Exchange (00388) IPO have significantly improved, the rate of listing below IPO price has decreased, institutional investor support has increased, and the risks are controllable when the lock-up period expires. The rotation of the AI sector and the sell-off of South Korean stocks create opportunities for market entry. The target price is raised from 502 Hong Kong dollars to 513 Hong Kong dollars, maintaining a "buy" rating. The bank has also raised the profit forecast for the Hong Kong Stock Exchange for 2026-2027 by 5% and 6% to 18.579 billion Hong Kong dollars and 19.42 billion Hong Kong dollars respectively, to reflect higher daily average trading volumes, higher IPO fund-raising amounts, and higher net interest income expectations.