[ET Net News Agency, 21 January 2021] Citi Research lifted its target price for HKEX
(00388) to HK$575 from HK$500 and maintained its "buy" rating.
The research house said HK's ADT (average daily turnover) set a new record at HK$300bn
for two consecutive days. January-to-date HK ADT reached HK$230bn, dwarfed 2H 2020's
supposedly high base of HK$140bn. As such, Citi further raised its 2021 ADT from HK$145bn
to HK$162bn.
Citi added that January-to-date Southbound turnover (gross buy + sell) exceeded HK$64bn
a day, representing 14% of HK turnover. The net inflow started to accelerate in recent
weeks, as mainland investors deploy around RMB200bn of new mutual funds. Allocation to HK
can be up to 50% (versus 30% allocation of outstanding funds). (KL)
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00388 HKEX
Nominal 
246.800 +7.800 (+3.264%) Others
21/01/2021 17:24
{I-bank focus}Citi lifts HKEX (00388) to HK$575; "buy"
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