STOCKS | Morgan Stanley Raises HKEX Target Price

Morgan Stanley raised its target price for Hong Kong Exchanges and Clearing on higher turnover and expectations that capital market activity will remain strong. According to Sina Finance, analysts including Richard Xu wrote in a research note that as household financial assets increase and asset allocation shifts from deposits to fund products, capital market activity is expected to stay elevated. The IPO environment also remains favorable, with fundraising reaching HK$342 billion from January to August. As of the end of August, 501 listing applications were still being processed. Morgan Stanley raised its target price for HKEX to HK$538 from HK$515.