According to the research report released by Citigroup, Hong Kong Exchanges and Clearing (0388) has been given a "sell" rating, with the earnings per share forecast for the fiscal years 2024 to 2026 being lowered by 1% to 3% to reflect the lowered forecast for daily trading volume. The target price has been adjusted down from HKD 240 to HKD 230. In addition, the company is expected to achieve good second-quarter performance but with an uncertain growth outlook. Since July, the average daily trading volume has been around HKD 100 billion.

Citigroup pointed out that Hong Kong Exchanges and Clearing will announce its second-quarter performance on August 21. The bank predicts a net profit of HKD 3.3 billion for the second quarter, up 10% and 12% on a quarterly and year-on-year basis, respectively, which is 2% higher than the market expectation. Benefiting from the rebound in daily trading volume, the bank predicts a total revenue of HKD 5.6 billion, up 8% and 11% on a quarterly and year-on-year basis, respectively. Investment income may fall back from a high base on a quarterly basis, but it can still remain at HKD 1.2 billion, down 8% on a quarterly basis and up 8% year-on-year.