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高盛:予港交所(0388.HK)目標價400港元 評級“沽售”
格隆匯 06-22 12:19

高盛發表研究報吿指,深入探討了港交所(0388.HK)三個被認為是中期盈利推動因素的三大主題,包括在海外上市的中國企業來港進行二次上市;相關企業獲納入南向通;以及或推出MSCI中國A股指數期貨。高盛予港交所目標價400港元,評級為“沽售”。

高盛表示,預計阿里巴巴、京東和百度,在中期內即2039年之前,或會達到55%的交易額門檻。該三間企業合共佔年初至今香港ADR成交額的85%,預料大部分成交量都將轉移至港股。在牛市的假設下,該行預計,交易量將有轉變,新股上市亦會加速,令港交所2024至2039年的每股盈利年複合增長率增加2個百分點。

該行又指,研究了小米和美團納入港股南向通的案例,並估計納入中概股的南向通,可令科技股的交易量增加78%。假設所有目前在港上市的中概股都獲納入南向通,或意味港股現金週轉率增加4%。

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