Glonghui, May 13 | Goldman Sachs released a report saying that Bloomberg quoted news that the China Securities Regulatory Commission and the State Administration of Taxation are reviewing a plan submitted by Hong Kong to exempt Hong Kong Stock Connect dividends from 20% profits tax. Driven by the news, the stock price of the Hong Kong Stock Exchange closed up 7% last Friday. Although the bank did not comment on the results, it proposed an upward scenario, that is, if the recommendation is implemented, the volume of Southbound Connect may increase. The bank notes that investors in Nanxiangtong prefer stocks with high dividend yields. Goldman Sachs expects the average daily turnover of stock trading to stabilize in the 2024 fiscal year, with a compound annual growth rate of about 12% for the 2024-2026 fiscal year, as trading volume will reach an inflection point and return to the original growth path. Due to the upward trend in market valuations, it may drive the number of IPOs, thereby contributing to market trading volume and the Hong Kong Stock Exchange stock price. Currently, the bank's target price for the Hong Kong Stock Exchange is HK$330.
大行评级｜高盛：予港交所目标价330港元 潜在股息利得税削减对港股成交为重大利好
Bank Ratings | Goldman Sachs: Target price of HK$330 on the Hong Kong Stock Exchange, potential dividend tax cuts are a major benefit to Hong Kong stock transactions
The translation is provided by third-party software.
The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.