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UBS has lowered its price target for CK Hutchison Holdings to HK$43 from HK$45.30, maintaining a Neutral rating amid a 24% to 28% reduction in earnings forecasts for 2024-2026. Despite this, the company is projected to yield a 5.8% dividend in 2024 and has a strong history of consistent dividend payments over 33 years. The firm's market valuation remains below that of its subsidiaries, reflecting ongoing uncertainties in shareholder return policies.
UBS has lowered its price target for CK Hutchison Holdings to HK$43 from HK$45.30, maintaining a Neutral rating amid a 24% to 28% reduction in earnings forecasts for 2024-2026. Despite this, the company is projected to yield a 5.8% dividend in 2024 and has a strong history of consistent dividend payments over 33 years. The firm's market valuation remains below that of its subsidiaries, reflecting ongoing uncertainties in shareholder return policies.
Asian shares mostly rose on Monday, buoyed by a U.S. stock market rally that followed a challenging week, despite the S&P 500 ending down 2%. Tokyo's Nikkei 225 climbed 0.9%, while Hong Kong's Hang Seng gained 0.7%. The market was influenced by a budget deal in the U.S. that averted a government shutdown and positive inflation data, although concerns about potential interest rate cuts lingered.
Coinbase has surpassed Nasdaq and the Hong Kong Stock Exchange in transaction revenue, generating $5.75 billion over the past year, though it still lags in trading volume. Despite a recent revenue dip to $1.2 billion in Q3 2024, analysts predict growth potential in international markets. CEO Mouloukou Sanoh anticipates Coinbase could become a leading global exchange in the next decade.
Hong Kong's securities regulator has approved four new cryptocurrency exchanges—Accumulus GBA Technology, DFX Labs, Hong Kong Digital Asset EX, and Thousand Whales Technology—enhancing its status as a digital asset hub. This decision follows a surge in Bitcoin prices and reflects the city's commitment to a robust regulatory framework while balancing investor protection and business growth. The newly licensed platforms must meet strict operational conditions, joining three previously approved exchanges and signaling a trend toward regulatory maturity in the crypto space.
In 2024, global IPO activity declined, with a 10% drop in the number of offerings to 1,215 and a 4% decrease in transaction value to $121 billion. The U.S. market saw significant growth, while China experienced a dramatic slump, with IPOs halving to 170 and transaction value plummeting by 65%. Despite challenges, optimism for a revival in capital markets is noted, particularly in Switzerland, driven by interest rate cuts and favorable market conditions.
In 2024, global IPO activity declined, with a 10% drop in the number of offerings to 1,215 and a 4% decrease in transaction value to $121 billion. The US market saw significant growth, while China's IPOs plummeted by over half, reflecting stark regional disparities influenced by deglobalization and interest rate changes. Switzerland's Galderma IPO ranked fifth globally, and experts express optimism for a market revival in 2025, driven by favorable conditions and potential deregulation in the US.
UBS faces challenges in China due to Xi Jinping's policies promoting "universal prosperity," which discourage high executive salaries and wealth concentration. The sluggish economy, exacerbated by a real estate crisis, has led wealthy clients to shift assets abroad, complicating UBS's operations. The bank hopes for a gradual economic stimulus from the Chinese government to stabilize the market and boost private consumption.
World stocks are mixed as markets await the Federal Reserve's rate decision. European indices opened higher, while Japan's Nikkei 225 fell 0.7%. Nissan shares surged 23.7% amid collaboration talks with Honda, while U.S. retail sales exceeded expectations, hinting at a resilient economy.
Coinbase ranks fifth globally in exchange revenue, generating $5.75 billion, surpassing traditional exchanges like Nasdaq and CBOE. It holds an 11% share of global exchange revenue, while decentralized exchanges (DEXs) capture 5%. Centralized and decentralized exchanges are expanding significantly faster than traditional finance, with a projected combined market cap of $749 billion. Competition is expected to intensify in 2025 as traditional finance integrates crypto activities, and DeFi protocols may offer better returns than leading cryptocurrencies.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
ubs lowers ck hutchison price target amid earnings forecast revision
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