Will HKEX’s Digital Asset and 24/7 Trading Push Change Hong Kong Exchanges and Clearing's (SEHK:388) Narrative

• In recent comments, Hong Kong Exchanges and Clearing (HKEX) chief executive Bonnie Chan Yiting outlined plans to expand into digital currencies, tokenisation, and related data and analytics capabilities to support its core exchange business and round-the-clock trading demand.
• This push toward always-on digital asset infrastructure suggests HKEX is positioning itself to compete more directly with global peers that are extending trading hours and broadening product coverage.
• Next, we’ll examine how HKEX’s ambition to support near round-the-clock digital asset trading could influence its longer-term investment narrative.

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Hong Kong Exchanges and Clearing Investment Narrative Recap

To own HKEX, you need to believe Hong Kong will remain a key capital hub linking Mainland China and global markets, while the exchange adapts to new trading technologies and products. The digital currency and tokenisation push could modestly reinforce the near term catalyst of stronger trading activity, but it does not materially reduce the biggest current risk from competitive and regulatory pressures on cross border capital flows.

Among recent announcements, the strong Q3 2025 results, with revenue of HK$7,775 million and net income of HK$4,900 million, stand out alongside this digital push. Together, they highlight how HKEX is currently benefiting from healthy market activity while starting to invest in infrastructure that could matter more if around the clock, multi asset trading becomes mainstream.

Yet against this backdrop, investors should still be aware of the risk that rising onshore Chinese exchanges and shifting IPO pipelines could...

Read the full narrative on Hong Kong Exchanges and Clearing (it's free!)

Hong Kong Exchanges and Clearing's narrative projects revenues of HK$30.5 billion and earnings of HK$19.3 billion by 2028.

Uncover how Hong Kong Exchanges and Clearing's forecasts yield a HK$504.75 fair value, a 27% upside to its current price.

Exploring Other Perspectives

Seven fair value estimates from the Simply Wall St Community range from HK$214 to HK$9,516.99, showing just how differently people see HKEX’s prospects. You will want to weigh these views against the emerging risk that digital asset ecosystems outside HKEX could siphon trading volumes and affect its long term relevance.

Explore 7 other fair value estimates on Hong Kong Exchanges and Clearing - why the stock might be a potential multi-bagger!

Build Your Own Hong Kong Exchanges and Clearing Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Hong Kong Exchanges and Clearing research is our analysis highlighting 3 key rewards and 1 important warning sign that could impact your investment decision.
• Our free Hong Kong Exchanges and Clearing research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Hong Kong Exchanges and Clearing's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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