0242 GMT - Hong Kong Exchanges & Clearing will likely post a 28% jump in profit in its 2Q earnings, Citi Research analyst Michael Zhang says in a note. There was strong cash trading on the back of buoyant market sentiment, with the average daily turnover up 95% during the three months, and Southbound average daily turnover more than doubling compared with a year earlier, Zhang says. The IPO pipeline also remains strong with 207 active applications as of June compared with 120 in March, Zhang adds. Citi retains a buy rating and lifts its target price to HK$490 from HK$385, after raising its earnings per share estimates for 2025-2027 by 12%-15%. Shares are 2.85% higher at HK$448.20. (kimberley.kao@wsj.com)

(END) Dow Jones Newswires

July 27, 2025 22:42 ET (02:42 GMT)

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