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美銀美林:港交所(0388.HK)季績遜預期 受收入下跌及競購倫敦證交所支出影響
格隆匯 11-06 15:07

美銀美林發表研究報告指,港交所(00388.HK)首九個月純利跌1%至74億元,遜預期;收入升2.2%126億元,但按季跌7.1%,主因交易費用收入按季跌5.5%,投資收入持平所致。港交所同時需就收購倫敦證交所(已經放棄)入賬1.3億的開支。美銀美林維持港交所“中性”評級,目標價263港元不變。

該行指,第三季本港的交易量是過去兩年最弱,今年首三季分別為6.1萬億元、5.6萬億元及5萬億元,相信是因為香港的混亂情況及宏觀不明朗因素所致。除非情況繼續惡化,否則營業額難再明顯下行,但同時亦無強勁的催化劑。

該行又指,按媒體報道,阿里計劃於11月上市,若成功相信可幫助港交所短暫消除部份疑慮,連同國內量寬政策,可有助增加交投量,雖然效果不明顯。長遠中國與新加坡的衍生工具交易協議亦將影響香港的衍生工具市場。

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