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大行評級|大摩:維持港交所“減持”評級 今年市場環境仍具挑戰
格隆匯 04-16 14:52

摩根士丹利發表報吿,預期港交所首季度收入按年跌11%,盈利按年跌17%,每股盈利2.23港元。日均成交按年跌22%至990億港元,但按季改善9%,不過衍生工具日均成交按年升6%,當中期貨成交增加18%,估計受對沖需求推動。商品日均成交估計增長5%。該行估計港交所首季投資收益淨額按年跌22%至12億港元,佔總收入約24%。成本對收入比率按年升4個百分點至28%,主要受員工及信息科技開支影響。

該行認為今年市場環境仍具挑戰,上市活動温和,缺乏推動日均成交的催化劑,淨投資收入受壓,以及營運開支上升,維持其“減持”評級,目標價221港元。

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