HKEX(HK:00388) Ge Long Hui·2025-08-20 05:41Core Viewpoint - Morgan Stanley's research report indicates that Hong Kong Stock Exchange's average daily trading volume remains high, influenced by capital flows, southbound trading, IPOs, and improvements in the A-share market [1] Group 1: Trading Volume Forecast - Based on the higher average daily trading volume, the company forecasts that the trading volume for fiscal years 2025, 2026, and 2027 will reach HKD 235 billion, HKD 250 billion, and HKD 252 billion respectively [1] - The earnings per share estimate has been raised by 5% to 16% accordingly [1] Group 2: Market Valuation and Rating - The market's visibility regarding the mid-term outlook for Hong Kong Stock Exchange typically leads to a revaluation of the PE multiple [1] - The target price has been increased from HKD 400 to HKD 500, and the rating has been upgraded from "Neutral" to "Overweight" [1]