As the transaction and clearing fees increase, it is expected that the revenue and profit of HKEX will increase by 9% and 11% YoY in the second quarter. CLSA raised the target price of HKEX from HKD 285 to HKD 287, slightly up by 0.7%, and maintained a "outperform" rating.

The bank believes that despite the macro challenges and turmoil that could arise from the increased probability of Republican presidential candidate Trump's election, the Fed's shift will benefit capital flows. Research on data from 1995 to 2000 shows that after the end of a cycle, Hong Kong's average daily turnover (ADT) increased by at least 20%. The bank raised the profit forecast for HKEX in 2024 and 2025 by 6% and 2% respectively to reflect the market data since the beginning of the year.