《大行報告》瑞銀上調港交所(00388.HK)目標價至296元 維持「中性」評級
瑞銀發表報告指,該行的經濟師預期明年底,美國聯邦基金利率及十年期債息,分別下調最多275點子及84點子,認為利率下調對本港日均成交有利,對淨利息收入則有負面影響。據該行分析,近年日均成交與債息走勢有較大關係,而其他改革推動日均成交的幫助有限。
該行指,10月本港日均成交788億元,按月減少13%、按年減少25%,第四季至今日均成交830億元,按年減少31%。首十個月IPO集資額按年減少61%,減幅較首九個月的65%收窄。在計及第四季至今市場的溫和表現後,將港交所(00388.HK)目標價由289元上調至296元,維持「中性」評級。
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