HKEX posted positive earnings today. Below are the financial highlights:
YTD Q3 2020 revenue and other income was 12 per cent higher than YTD Q3 2019, a nine-month record high -
- Core business revenue was up 21 per cent against YTD Q3 2019, reflecting higher trading and clearing fees
driven by record headline ADT2
- Stock Connect revenue and other income reached a record high of $1,354 million, up 79 per cent against YTD Q3
2019
Source: HKEX Website
As expected, news of a vaccine, coupled with tighter regulations on ATM (Alibaba, Tencent, & Meituan) has caused a rotation of funds out of the tech-sector as well as equities that are largely 'Covid proof'. However, I am positive that 388 will be able to make a run to breaking all time highs given its good performance.
Technically, 388 looks range bound and is nearing the bottom of the range. I would wait for confirmation to add more shares.
Views are my own and should be meant for discussion and educational purposes only! Please make your own investment/trading decision.
YTD Q3 2020 revenue and other income was 12 per cent higher than YTD Q3 2019, a nine-month record high -
- Core business revenue was up 21 per cent against YTD Q3 2019, reflecting higher trading and clearing fees
driven by record headline ADT2
- Stock Connect revenue and other income reached a record high of $1,354 million, up 79 per cent against YTD Q3
2019
Source: HKEX Website
As expected, news of a vaccine, coupled with tighter regulations on ATM (Alibaba, Tencent, & Meituan) has caused a rotation of funds out of the tech-sector as well as equities that are largely 'Covid proof'. However, I am positive that 388 will be able to make a run to breaking all time highs given its good performance.
Technically, 388 looks range bound and is nearing the bottom of the range. I would wait for confirmation to add more shares.
Views are my own and should be meant for discussion and educational purposes only! Please make your own investment/trading decision.