0941 GMT - Hong Kong's financial markets have awoken from their early-2021 slump, Morningstar's Roy Van Keulen writes in a note. Morningstar raises its fair-value estimate on the Hong Kong Exchanges & Clearing stock to HK$325.00 from HK$301.72 following the significant acceleration in 4Q revenue and trading activity, which beat expectations. However, the exchange operator's shares appear to be overvalued, as the current growth rates in trading volumes don't look sustainable, the analyst says. Geopolitical tensions between the U.S. and China are also expected to pose a structural headwind. HKEX shares closed 4.1% lower at HK$350.00. (kimberley.kao@wsj.com)
(END) Dow Jones Newswires
February 28, 2025 04:41 ET (09:41 GMT)
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