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MarketScreener Homepage  >  Equities  >  Stock Exchange of Hong Kong  >  Hong Kong Exchanges and Clearing Limited    0388   HK0388045442

HONG KONG EXCHANGES AND CLEARING LIMITED

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Global Stocks Rise With Eyes on Trade

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09/11/2019 | 06:53am EDT

By Anna Isaac

-- Dow futures up, S&P 500 futures flat

-- Treasury yields rise

-- Asian, European stocks climb

Global stocks gained Wednesday after China exempted certain U.S. products from higher tariffs ahead of trade talks planned for next month.

Futures for the Dow Jones Industrial Average edged up 0.1%. The contracts don't necessarily predict moves after the opening bell.

The Stoxx Europe 600 rose 0.6% in late-morning trade, with Germany's DAX up 1% and France's CAC 40 up 0.4%.

Shares in the London Stock Exchange Group PLC gained 4.9% after Hong Kong Exchanges & Clearing Ltd. made an offer to buy it in a $36.56 billion cash-and-share deal.

Meanwhile, shares in Prosus, the Naspers Ltd. spinoff, had their debut on Amsterdam's Euronext. A valuation of nearly EUR120 billion ($132.51 billion) made it Europe's largest listed consumer internet company.

China said Wednesday that higher tariffs wouldn't be levied against a variety of U.S. imports for a year, starting Sept. 17, and that it would continue to review more goods for exemption.

Hong Kong's Hang Seng led gains, climbing 1.8%, while Japan's Nikkei rose 1%. The Shanghai Composite was the exception, with a fall of 0.4%.

Korea's Kospi climbed 0.8% after positive jobs data from the country helped to bolster confidence in its economy, suggesting that government stimulus efforts were proving fruitful.

In Europe, Zara-owner Industria de Diseno Textil SA, the world's largest fashion retailer by sales, saw its share price fall 2.5% after it reported earnings for the first half of the year.

Investors have shown signs in recent days of expecting less stimulus from the European Central Bank when it meets on Thursday.

"Ahead of the ECB meeting investors seemed to take some chips off the table with aggressive expectations being pared back," said Antoine Bouvet, senior rates strategist at ING Bank in a note.

The yield on the benchmark 10-year German bund was at minus 0.545% on Wednesday. Meanwhile, U.S. 10-year Treasury yields rose to 1.718%, from 1.706% on Tuesday. Bond yields and prices move in opposite directions.

The drivers for rising yields included better news on U.S.-China trade and a reduced likelihood of a no-deal Brexit, according to Oliver Jones, market economist at Capital Economics.

Higher yields may offer relief for major banks, easing pressure on their balance sheets after negative interest rates have eaten into profits in Europe. The banking sector within Europe's Stoxx 600 climbed 1.4%, marking its sixth- straight day of gains.

In commodities, oil prices rebounded from losses that came after President Trump ousted John Bolton as his national security adviser. Brent crude, the global benchmark, was up by 1.2% at $63.12 a barrel.

Write to Anna Isaac at anna.isaac@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
BOUVET ASA 1.01% 299 Delayed Quote.51.53%
CAC 40 -0.02% 5600.15 Real-time Quote.19.55%
CHINA-SHANGHAI COMP -0.02% 3030.75 End-of-day quote.21.33%
CRB COMMODITY INDEX 0.10% 195.01 End-of-day quote.0.00%
DAX -0.15% 12360.95 Delayed Quote.17.25%
DJ INDUSTRIAL -0.52% 27076.82 Delayed Quote.16.68%
EURO / BRITISH POUND (EUR/GBP) 0.35% 0.88792 Delayed Quote.-1.38%
HANG SENG -1.28% 26744.78 Real-time Quote.4.82%
HONG KONG EXCHANGES AND CLEARING LIMITED -2.41% 235 End-of-day quote.2.80%
ING GROEP -1.99% 9.479 Delayed Quote.2.86%
KOSPI COMPOSITE INDEX 0.16% 2061.67 Real-time Quote.0.83%
LONDON BRENT OIL -0.53% 67.78 Delayed Quote.11.63%
LONDON STOCK EXCHANGE -0.08% 7398 Delayed Quote.82.27%
NASDAQ 100 -0.51% 7852.412383 Delayed Quote.24.69%
NASDAQ COMP. -0.28% 8153.542864 Delayed Quote.23.23%
NASPERS LIMITED 1.92% 2544.94 End-of-day quote.-9.11%
NIKKEI 225 0.06% 22001.32 Real-time Quote.9.86%
S&P 500 -0.31% 2997.96 Delayed Quote.19.59%
STOXX EUROPE 600 -0.13% 388.82 Delayed Quote.16.03%
STOXX EUROPE 600 NR -0.13% 836.06 Delayed Quote.19.04%
WTI -0.15% 61.79 Delayed Quote.21.48%
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Financials (HKD)
Sales 2019 16 340 M
EBIT 2019 11 538 M
Net income 2019 9 535 M
Finance 2019 51 058 M
Yield 2019 2,90%
P/E ratio 2019 31,0x
P/E ratio 2020 27,4x
EV / Sales2019 14,9x
EV / Sales2020 9,88x
Capitalization 295 B
Chart HONG KONG EXCHANGES AND CLEARING LIMITED
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Hong Kong Exchanges and Clearing Limited Technical Analysis Chart | MarketScreener
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Technical analysis trends HONG KONG EXCHANGES AND CL
Short TermMid-TermLong Term
TrendsNeutralBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 267,16  HKD
Last Close Price 235,00  HKD
Spread / Highest target 34,5%
Spread / Average Target 13,7%
Spread / Lowest Target -10,6%
EPS Revisions
Managers
NameTitle
Charles Xiaojia Li CEO & Ex-Officio Executive Director
May Lung Cha Chairman
Chi Kin Tai Joint Chief Operating Officer & Head-Clearing
Kwok Keung Lee Joint Chief Operating Officer
John F. Killian Chief Financial Officer
Sector and Competitors
1st jan.Capitalization (M$)
HONG KONG EXCHANGES AND CLEARING LIMITED2.80%37 724
INTERCONTINENTAL EXCHANGE INC21.97%51 491
LONDON STOCK EXCHANGE82.27%32 068
DEUTSCHE BÖRSE AG31.63%27 849
B3 SA BRASIL BOLSA BALCAO0.00%21 614
NASDAQ21.71%16 350