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HKXCY - Hong Kong Exchanges: A Mixed Outlook Following The Earnings Miss
Hong Kong Exchanges & Clearing Ltd. ADR
HKEX's shares declined by 3.5% following an earnings miss for 1H 2021 and Q2 2021, and the significant QoQ decrease in ADT in the recent quarter is noteworthy.
The outlook for HKEX is mixed; although more Chinese companies might prefer to list in Hong Kong rather than the US going forward, HKEX could still suffer from lower ADT.
The market values HKEX at consensus forward FY 2021 and FY 2022 normalized P/E multiples of 45.7 times and 37.7 times, respectively.