CICC: Maintains Hong Kong Exchanges and Clearing "Outperform" rating, target price HK$520

CICC released a research report stating that Hong Kong Exchanges and Clearing plans to disclose its 2026 third-quarter results on November 6. The bank expects the company's 3Q26 revenue to be flat year-on-year and down 9% quarter-on-quarter to HK$7.78 billion, main fee-based revenue excluding investment income to decline 1% year-on-year and 7% quarter-on-quarter to HK$6.67 billion, and profit to fall 2% year-on-year and 11% quarter-on-quarter to HK$4.81 billion. For the first three quarters of 2026, the company's total revenue and profit are expected to grow 12% and 15% year-on-year to HK$24.48 billion and HK$15.38 billion, respectively.