智通财经APP获悉，摩根士丹利发布研报称，预期香港交易所(00388)2025年第二季度业绩将保持强劲，收入及净利润分别同比增长28%及32%。 日均成交额表现具韧性，市场对收费不确定性的忧虑减退，对中国发展模式的信心增强。该行继续视港交所为具吸引力的投资选择，维持“增持”评级，目标价500港元。
大摩表示，预计港交所2025年第二季收入同比增长28%，主要受交易费及结算费分别同比上升40%及38%推动，日均成交额表现突出。 第二季日均成交额同比大幅增长95%至2,380亿港元，惟按季微跌2%，反映市场对贸易关税的担忧。 衍生产品日均成交额按季下降17%，同比则略跌1%。 尽管利率显著下降，但由于保证金要求提高带动资金规模扩大，该行估计净投资收入将按季增长8%。大摩预期，港交所2025年第二季净利润将同比增长32%，除息税折旧摊销前利润率进一步提升至约77%，同比上升4个百分点。
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