Goldman Sachs backs HKEX with ‘buy rating’, citing Beijing’s policy support, AI stock boost

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Goldman Sachs has reaffirmed a buy rating for Hong Kong Exchanges and Clearing (HKEX), driven by Beijing's policy support and growth in AI-related stocks. The confidence is linked to prospects of revenue and daily turnover growth in Hong Kong's financial market.

Wall Street investment bank Goldman Sachs has cast a vote of confidence in Hong Kong’s financial future by reaffirming its “buy rating” on Hong Kong Exchanges and Clearing (HKEX), as Beijing ramps up policy support to cement the city’s status as an international financial centre. “We see multiple tailwinds to ADT [average daily turnover] and revenue growth” in the second half of this year, analysts Thomas Wang and Simone Chen wrote in a research note on Wednesday. The move comes amid weak share...