China and US Equity Analyst

Roger Xie

10 year investment experience on public and private equity. Deep-dive fundamental research. Specialize in China and US market.

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Equity Bottom-Up

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<li>
<a href="https://www.smartkarma.com/entities/hong-kong-exchanges-clearing" target="_blank" data-smartkarma-citation="entities:490:1" rel="noopener">HKEX (388 HK)</a> YTD Average Daily Turnover continued to slowdown, but it still delivered 33 per cent growth compared with the same period last year. </li>
<li>We believe that Hong Kong market is clouded by recent Beijing's crackdown of big tech and policy changes. Without more clarity, it might continue to pressure trading volume.</li>
<li>We remain constructive on <a href="https://www.smartkarma.com/entities/hong-kong-exchanges-clearing" target="_blank" data-smartkarma-citation="entities:490:1" rel="noopener">HKEX (388 HK)</a> long-term growth given its unique role for offshore China listings. The recent weakness provides good opportunity to accumulate on HKEX (TP: HK$550). </li>
</ul>



HKEX (388 HK) YTD Average Daily Turnover continued to slowdown, but it still delivered 33 per cent growth compared with the same period last year. 
We believe that Hong Kong market is clouded by recent Beijing's crackdown of big tech and policy changes. Without more clarity, it might continue to pressure trading volume.
We remain constructive on HKEX (388 HK) long-term growth given its unique role for offshore China listings. The recent weakness provides good opportunity to accumulate on HKEX (TP: HK$550). 


HKEx (388.HK): Slowing Trading Activities, but Long-Term Growth Intact