Investment Rating - The report assigns a "Neutral" rating to Hong Kong Exchanges and Clearing Limited (00388) with a target price of HKD 340 for the next 12 months [1] Core Insights - The report highlights that improvements in the new stock listing channels for Hong Kong Exchanges are a significant long-term benefit for the Greater China stock market, as the Stock Connect programs have fundamentally changed the investment landscape for both Hong Kong and mainland Chinese investors since their launch in 2014 [1] - It mentions that there are 26 Chinese concept stocks, which are constituents of the MSCI China and FTSE China indices, that have not yet been listed in Hong Kong, with a total market capitalization of USD 237 billion and an average daily trading volume of USD 2 billion over the past three months, representing approximately 5% and 6% of Hong Kong Exchanges' current market capitalization and daily trading volume, respectively [1] - According to sensitivity analysis, if all these stocks were to list in Hong Kong, it is anticipated that the earnings per share for Hong Kong Exchanges would increase by 6% by 2026 [1]

Group 1 - BlackRock's stake in AIA decreased from 6.03% to 5.90% as of May 22 [1]

Group 1 - The Hong Kong Stock Exchange plans to increase the trading limits for futures and options contracts on the Hang Seng Index, Hang Seng China Enterprises Index, and Hang Seng Tech Index, pending regulatory approval [1] - The proposed change is set to take effect on July 2, 2025 [1] - This adjustment aims to enhance market liquidity and trading flexibility for participants [1]

Group 1 - Morgan Stanley increased its stake in China Pacific Insurance from 6.97% to 7.12% as of May 19 [1] - The average share price for this transaction was 14.9480 HKD [1]

Group 1 - BlackRock's stake in Meituan-W decreased from 6.15% to 5.92% on May 15 [1]

香港交易所信息显示， 美国银行在 东风集团股份的持股比例于05月15日从5.28%升至6.17%。 ...

智通财经5月20日电，香港交易所信息显示，贝莱德（BlackRock）在友邦保险的持股比例于05月14日从 5.89%升至6.04%。 ...

Group 1 - The core point of the article is that Bank of America has reduced its stake in Bilibili-W from 7.34% to 6.92% as of May 14 [1]

Group 1 - The Hong Kong Stock Exchange has announced the appointment of Xu Lianghua as the Group Chief Financial Officer starting from June 9, 2025 [1] - Xu Lianghua will succeed Liu Biyin, who will continue to serve as the Chief Operating Officer of the Hong Kong Stock Exchange [1]

智通财经5月19日电，香港交易所宣布委任许亮华6月9日起出任集团财务总监。 ...