《大行報告》瑞銀:中美就審計監管達成合作協議 對港交所(00388.HK)影響好壞參半
國家財政部、中國證監會及美國上市公司會計監督委員會就審計監管跨境合作達成協議,瑞銀發表研究報告,預期對港交所(00388.HK)的影響為好壞參半。
該行指出,投資者早前憧憬中概股自美國退市後,資金遷移至港交所,帶來潛在收入增長動力,現時預期可能會有所緩和。但根據該行早前估計,在中概股全面退市的假設下,預期港交所直接收入增幅將為約10%至15%,美銀現時採用的預測只計及當中約三分之一,未完全反映。
美銀預期中美達成合作將為市場情緒帶來支持,並可能緩解投資者對地緣政治的擔憂,有助於提高市場流動性,並有利於港交所作為高貝塔值的投資標的。
美銀認為港交所在互聯互通的競爭優勢保持不變,同時預期HIBOR在中期內上升可能會支持投資收益增長,給予目標價438元,維持「買入」評級。
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