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Hong Kong Exchanges and Clearing

SEHK:388
Snowflake Description

Flawless balance sheet with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
388
SEHK
HK$308B
Market Cap
  1. Home
  2. HK
  3. Diversified Financials
Company description

Hong Kong Exchanges and Clearing Limited, together with its subsidiaries, owns and operates stock exchanges and futures exchanges, and related clearing houses in Hong Kong. The last earnings update was 12 days ago. More info.


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388 Share Price and Events
7 Day Returns
0.2%
SEHK:388
0.4%
HK Capital Markets
0.6%
HK Market
1 Year Returns
8.1%
SEHK:388
-5.1%
HK Capital Markets
-1.5%
HK Market
388 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Hong Kong Exchanges and Clearing (388) 0.2% -2.1% -0.7% 8.1% 28.5% 41.4%
HK Capital Markets 0.4% -4.6% -5.7% -5.1% -29.5% -35%
HK Market 0.6% -3.9% -0.3% -1.5% 5.2% -2.2%
1 Year Return vs Industry and Market
  • 388 outperformed the Capital Markets industry which returned -5.1% over the past year.
  • 388 outperformed the Market in Hong Kong which returned -1.5% over the past year.
Price Volatility
388
Industry
5yr Volatility vs Market

388 Value

 Is Hong Kong Exchanges and Clearing undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Hong Kong Exchanges and Clearing to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Hong Kong Exchanges and Clearing.

SEHK:388 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 12 analysts.
= Stable Book Value * Return on Equity
= HK$36.24 * 24.1%
HK$8.75
Book Value of Equity per Share Weighted future Book Value estimates from 9 analysts. HK$36.24
Discount Rate (Cost of Equity) See below 6.7%
Perpetual Growth Rate 10-Year HK Government Bond Rate 1.6%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for SEHK:388
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 1.6%
Equity Risk Premium S&P Global 6.1%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.76
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.763 (1 + (1- 25%) (0.92%))
0.845
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.84
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.55% + (0.845 * 6.07%)
6.68%

Discounted Cash Flow Calculation for SEHK:388 using Excess Returns Model Model

The calculations below outline how an intrinsic value for Hong Kong Exchanges and Clearing is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

SEHK:388 Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (24.1% – 6.68%) * HK$36.24)
HK$6.33
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= HK$6.33 / (6.68% - 1.55%)
HK$123.44
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= HK$36.24 + HK$123.44
HK$159.67
SEHK:388 Discount to Share Price
Calculation Result
Value per share (HKD) From above. HK$159.67
Current discount Discount to share price of HK$247.60
= -1 x (HK$247.60 - HK$159.67) / HK$159.67
-55.1%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Hong Kong Exchanges and Clearing is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Hong Kong Exchanges and Clearing's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Hong Kong Exchanges and Clearing's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:388 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in HKD HK$7.39
SEHK:388 Share Price ** SEHK (2019-12-06) in HKD HK$247.6
Hong Kong Capital Markets Industry PE Ratio Median Figure of 41 Publicly-Listed Capital Markets Companies 11.45x
Hong Kong Market PE Ratio Median Figure of 1,470 Publicly-Listed Companies 10.14x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Hong Kong Exchanges and Clearing.

SEHK:388 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:388 Share Price ÷ EPS (both in HKD)

= 247.6 ÷ 7.39

33.5x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Hong Kong Exchanges and Clearing is overvalued based on earnings compared to the HK Capital Markets industry average.
  • Hong Kong Exchanges and Clearing is overvalued based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does Hong Kong Exchanges and Clearing's expected growth come at a high price?
Raw Data
SEHK:388 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 33.5x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts
11.9%per year
Hong Kong Capital Markets Industry PEG Ratio Median Figure of 8 Publicly-Listed Capital Markets Companies 0.52x
Hong Kong Market PEG Ratio Median Figure of 479 Publicly-Listed Companies 0.75x

*Line of best fit is calculated by linear regression .

SEHK:388 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 33.5x ÷ 11.9%

2.81x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Hong Kong Exchanges and Clearing is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Hong Kong Exchanges and Clearing's assets?
Raw Data
SEHK:388 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in HKD HK$33.90
SEHK:388 Share Price * SEHK (2019-12-06) in HKD HK$247.6
Hong Kong Capital Markets Industry PB Ratio Median Figure of 70 Publicly-Listed Capital Markets Companies 0.52x
Hong Kong Market PB Ratio Median Figure of 2,203 Publicly-Listed Companies 0.82x
SEHK:388 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:388 Share Price ÷ Book Value per Share (both in HKD)

= 247.6 ÷ 33.90

7.3x

* Primary Listing of Hong Kong Exchanges and Clearing.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Hong Kong Exchanges and Clearing is overvalued based on assets compared to the HK Capital Markets industry average.
X
Value checks
We assess Hong Kong Exchanges and Clearing's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. Hong Kong Exchanges and Clearing has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

388 Future Performance

 How is Hong Kong Exchanges and Clearing expected to perform in the next 1 to 3 years based on estimates from 14 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
11.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Hong Kong Exchanges and Clearing expected to grow at an attractive rate?
  • Hong Kong Exchanges and Clearing's earnings growth is expected to exceed the low risk savings rate of 1.6%.
Growth vs Market Checks
  • Hong Kong Exchanges and Clearing's earnings growth is positive but not above the Hong Kong market average.
  • Hong Kong Exchanges and Clearing's revenue growth is expected to exceed the Hong Kong market average.
Annual Growth Rates Comparison
Raw Data
SEHK:388 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:388 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts 11.9%
SEHK:388 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 14 Analysts 9.9%
Hong Kong Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 13.5%
Hong Kong Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 11.1%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.9%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 9.7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
SEHK:388 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below
All numbers in HKD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:388 Future Estimates Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 15,327
2022-12-31 13,833
2021-12-31 19,804 10,372 12,129 10
2020-12-31 17,956 13,100 10,811 14
2019-12-31 16,306 10,694 9,451 11
2019-12-07
SEHK:388 Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2019-09-30 16,106 9,240
2019-06-30 16,221 8,354 9,476
2019-03-31 15,975 9,358
2018-12-31 15,837 9,480 9,312
2018-09-30 15,716 9,362
2018-06-30 15,068 9,254 8,952
2018-03-31 14,179 8,250
2017-12-31 13,077 7,413 7,404
2017-09-30 12,247 6,767
2017-06-30 11,660 5,396 6,277
2017-03-31 11,365 6,053
2016-12-31 11,068 3,463 5,769

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Hong Kong Exchanges and Clearing's earnings are expected to grow by 11.9% yearly, however this is not considered high growth (20% yearly).
  • Hong Kong Exchanges and Clearing's revenue is expected to grow by 9.9% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
SEHK:388 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below

All data from Hong Kong Exchanges and Clearing Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:388 Future Estimates Data
Date (Data in HKD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 9.55 12.85 8.23 8.00
2020-12-31 8.57 10.26 7.73 12.00
2019-12-31 7.56 7.80 7.40 10.00
2019-12-07
SEHK:388 Past Financials Data
Date (Data in HKD Millions) EPS *
2019-09-30 7.39
2019-06-30 7.59
2019-03-31 7.52
2018-12-31 7.50
2018-09-30 7.55
2018-06-30 7.25
2018-03-31 6.69
2017-12-31 6.03
2017-09-30 5.53
2017-06-30 5.14
2017-03-31 4.98
2016-12-31 4.76

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Hong Kong Exchanges and Clearing is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Hong Kong Exchanges and Clearing's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Hong Kong market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Hong Kong market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Hong Kong Exchanges and Clearing has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

388 Past Performance

  How has Hong Kong Exchanges and Clearing performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Hong Kong Exchanges and Clearing's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Hong Kong Exchanges and Clearing's year on year earnings growth rate has been positive over the past 5 years.
  • Hong Kong Exchanges and Clearing's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Hong Kong Exchanges and Clearing's 1-year earnings growth is negative, it can't be compared to the HK Capital Markets industry average.
Earnings and Revenue History
Hong Kong Exchanges and Clearing's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Hong Kong Exchanges and Clearing Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:388 Past Revenue, Cash Flow and Net Income Data
Date (Data in HKD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 16,106.00 9,240.00 3,066.00
2019-06-30 16,221.00 9,476.00 3,148.00
2019-03-31 15,975.00 9,358.00 3,164.00
2018-12-31 15,837.00 9,312.00 3,161.00
2018-09-30 15,716.00 9,362.00 3,073.00
2018-06-30 15,068.00 8,952.00 2,937.00
2018-03-31 14,179.00 8,250.00 2,874.00
2017-12-31 13,077.00 7,404.00 2,776.00
2017-09-30 12,247.00 6,767.00 2,656.00
2017-06-30 11,660.00 6,277.00 2,593.00
2017-03-31 11,365.00 6,053.00 2,523.00
2016-12-31 11,068.00 5,769.00 2,528.00
2016-09-30 11,185.00 6,059.00 2,430.00
2016-06-30 11,625.00 6,846.00 2,471.00
2016-03-31 12,817.00 7,813.00 2,504.00
2015-12-31 12,862.00 7,956.00 2,454.00
2015-09-30 12,891.00 7,936.00 2,410.00
2015-06-30 12,064.00 6,893.00 2,373.00
2015-03-31 10,289.00 5,562.00 2,241.00
2014-12-31 9,828.00 5,165.00 2,195.00
2014-09-30 9,213.00 4,678.00 2,120.00
2014-06-30 8,876.00 4,591.00 2,038.00
2014-03-31 8,818.00 4,572.00 2,005.00
2013-12-31 8,704.00 4,552.00 1,957.00
2013-09-30 8,320.00 4,392.00 1,844.00
2013-06-30 7,873.00 4,196.00 1,725.00
2013-03-31 7,545.00 4,094.00 1,626.00
2012-12-31 7,198.00 4,084.00 1,505.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Hong Kong Exchanges and Clearing has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Hong Kong Exchanges and Clearing used its assets more efficiently than the HK Capital Markets industry average last year based on Return on Assets.
  • Hong Kong Exchanges and Clearing has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Hong Kong Exchanges and Clearing's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Hong Kong Exchanges and Clearing has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

388 Health

 How is Hong Kong Exchanges and Clearing's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Hong Kong Exchanges and Clearing's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Hong Kong Exchanges and Clearing is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Hong Kong Exchanges and Clearing's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Hong Kong Exchanges and Clearing's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 571.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Hong Kong Exchanges and Clearing Company Filings, last reported 2 months ago.

SEHK:388 Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 42,815.00 417.00 222,019.00
2019-06-30 44,433.00 415.00 27,464.00
2019-03-31 39,789.00 414.00 228,801.00
2018-12-31 40,903.00 1,166.00 24,435.00
2018-09-30 39,484.00 1,870.00 223,097.00
2018-06-30 40,734.00 1,872.00 25,787.00
2018-03-31 39,996.00 1,869.00 264,384.00
2017-12-31 37,375.00 1,860.00 21,404.00
2017-09-30 35,643.00 1,856.00 249,044.00
2017-06-30 34,988.00 3,450.00 20,415.00
2017-03-31 34,177.00 3,433.00 213,778.00
2016-12-31 32,384.00 3,422.00 17,582.00
2016-09-30 31,284.00 3,420.00 188,530.00
2016-06-30 31,120.00 3,418.00 16,918.00
2016-03-31 31,456.00 3,415.00 194,607.00
2015-12-31 29,962.00 3,409.00 15,573.00
2015-09-30 28,604.00 3,406.00 252,687.00
2015-06-30 28,031.00 3,329.00 13,780.00
2015-03-31 22,973.00 7,056.00 229,849.00
2014-12-31 21,359.00 7,026.00 10,193.00
2014-09-30 20,734.00 8,365.00 210,369.00
2014-06-30 22,278.00 6,976.00 10,086.00
2014-03-31 21,853.00 6,961.00 53,855.00
2013-12-31 20,518.00 6,921.00 9,941.00
2013-09-30 19,019.00 6,692.00 9,181.00
2013-06-30 17,834.00 6,665.00 8,698.00
2013-03-31 17,809.00 6,653.00 9,239.00
2012-12-31 17,764.00 6,615.00 7,563.00
  • Hong Kong Exchanges and Clearing's level of debt (1%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (40.3% vs 1% today).
  • Debt is well covered by operating cash flow (2003.4%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 99x coverage).
X
Financial health checks
We assess Hong Kong Exchanges and Clearing's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Hong Kong Exchanges and Clearing has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

388 Dividends

 What is Hong Kong Exchanges and Clearing's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.71%
Current annual income from Hong Kong Exchanges and Clearing dividends. Estimated to be 3.04% next year.
If you bought HK$2,000 of Hong Kong Exchanges and Clearing shares you are expected to receive HK$54 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Hong Kong Exchanges and Clearing's pays a higher dividend yield than the bottom 25% of dividend payers in Hong Kong (2.24%).
  • Hong Kong Exchanges and Clearing's dividend is below the markets top 25% of dividend payers in Hong Kong (6.31%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
SEHK:388 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below
Hong Kong Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 33 Stocks 3.2%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 963 Stocks 3.7%
Hong Kong Minimum Threshold Dividend Yield 10th Percentile 1.3%
Hong Kong Bottom 25% Dividend Yield 25th Percentile 2.2%
Hong Kong Top 25% Dividend Yield 75th Percentile 6.3%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

SEHK:388 Future Dividends Estimate Data
Date (Data in HK$) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 8.45 11.00
2020-12-31 7.60 15.00
2019-12-31 6.76 14.00
2019-12-07
SEHK:388 Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2019-03-19 6.710 2.644
2019-02-27 6.710 2.444
2019-02-25 7.280 2.690
2018-11-07 7.280 3.094
2018-08-20 7.280 3.362
2018-08-08 7.280 3.234
2018-04-25 5.400 2.202
2017-08-09 4.590 1.896
2017-03-20 4.080 2.023
2017-02-27 4.080 2.110
2016-03-21 5.950 3.091
2016-03-02 5.950 3.410
2015-11-11 6.160 3.316
2015-08-24 6.160 3.211
2015-08-12 6.160 3.095
2015-04-15 3.980 1.528
2015-03-23 3.980 1.899
2015-03-05 3.980 2.258
2014-08-25 3.550 2.024
2014-04-29 3.540 2.313
2013-09-04 3.280 2.586
2013-02-27 2.920 2.307
2012-11-19 3.700 2.696
2012-11-07 3.700 2.950
2012-08-20 3.700 3.207
2012-08-08 3.700 3.433
2012-03-12 4.250 3.689
2012-02-29 4.250 3.049
2011-03-02 4.200 2.916
2010-03-04 3.930 2.711
2009-12-31 3.930 2.887
2009-08-12 3.640 2.585
2009-03-16 4.290 4.086
2009-03-04 4.290 7.299

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Hong Kong Exchanges and Clearing's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (1.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.1x coverage).
X
Income/ dividend checks
We assess Hong Kong Exchanges and Clearing's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Hong Kong Exchanges and Clearing afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Hong Kong Exchanges and Clearing has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

388 Management

 What is the CEO of Hong Kong Exchanges and Clearing's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Charles Li
COMPENSATION HK$52,413,000
AGE 58
TENURE AS CEO 9.9 years
CEO Bio

Mr. Xiaojia Li, also known as Charles, has been the Chief Executive Officer and Executive Director of Hong Kong Exchanges & Clearing Limited since January 16, 2010. Before joining JP Morgan in 2003, Mr. Li served as President at Merrill Lynch China from 1999 to 2003 and its Managing Director, where he had worked for more than 8 years. He served at Merrill Lynch from 1994 to 2003. He was an Associate at Davis Polk & Wardwell, New York from 1991 to 1993 and Brown & Wood, New York from 1993 to 1994. Mr. Li served as the Chairman of JP Morgan China from 2003 to 2009 and was responsible for all of JP Morgan's businesses in China. Mr. Li serves as an Executive Director of Hong Kong Exchanges & Clearing Ltd. He serves as a Director of LME Holdings Limited. He has been a Director of The London Metal Exchange Limited since December 6, 2012. He holds a Bachelor of Arts degree in English Literature from Xiamen University in China, a Master of Arts degree in Journalism from the University of Alabama and a Juris Doctor from Columbia University in the US.

CEO Compensation
  • Charles's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Charles's remuneration is higher than average for companies of similar size in Hong Kong.
Management Team Tenure

Average tenure and age of the Hong Kong Exchanges and Clearing management team in years:

2.7
Average Tenure
55
Average Age
  • The tenure for the Hong Kong Exchanges and Clearing management team is about average.
Management Team

Charles Li

TITLE
CEO & Executive Director
COMPENSATION
HK$52M
AGE
58
TENURE
9.9 yrs

Romnesh Lamba

TITLE
Co-President
COMPENSATION
HK$16M
AGE
55
TENURE
0.9 yrs

Calvin Tai

TITLE
Co-President & Chief Operating Officer
COMPENSATION
HK$14M
AGE
57
TENURE
0.9 yrs

Roland Chai

TITLE
Head of Post-Trade
COMPENSATION
HK$7M
AGE
46
TENURE
2.5 yrs

John Killian

TITLE
Group Chief Financial Officer
COMPENSATION
HK$8M
AGE
51
TENURE
2 yrs

Ferheen Mahomed

TITLE
Group General Counsel
COMPENSATION
HK$12M
AGE
53
TENURE
2.8 yrs

Tori Cowley

TITLE
Group Chief Communications Officer
COMPENSATION
HK$2M
TENURE
1.3 yrs

Eva Chau

TITLE
Group Head of Human Resources
COMPENSATION
HK$9M
AGE
56
TENURE
3.3 yrs

Richard Leung

TITLE
Group Chief Technology Officer
COMPENSATION
HK$11M
AGE
55
TENURE
8.3 yrs

David Graham

TITLE
Head of Listing
COMPENSATION
HK$17M
AGE
60
TENURE
6.9 yrs
Board of Directors Tenure

Average tenure and age of the Hong Kong Exchanges and Clearing board of directors in years:

4.7
Average Tenure
59.5
Average Age
  • The tenure for the Hong Kong Exchanges and Clearing board of directors is about average.
Board of Directors

Laura Cha

TITLE
Independent Chairman of the Board
COMPENSATION
HK$2M
AGE
69
TENURE
1.6 yrs

Charles Li

TITLE
CEO & Executive Director
COMPENSATION
HK$52M
AGE
58
TENURE
9.9 yrs

Rafael Gil-Tienda

TITLE
Independent Non-Executive Director
COMPENSATION
HK$2M
AGE
66
TENURE
4.7 yrs

Cheng Hye Cheah

TITLE
Independent Non-Executive Director
COMPENSATION
HK$1M
AGE
65
TENURE
2.7 yrs

Stephen Yiu

TITLE
Independent Non-Executive Director
COMPENSATION
HK$3M
AGE
58
TENURE
2.7 yrs

John Mackay Williamson

TITLE
Independent Non-Executive Director
COMPENSATION
HK$1M
AGE
60
TENURE
11.5 yrs

Benjamin Hung

TITLE
Independent Non-Executive Director
COMPENSATION
HK$644K
AGE
54
TENURE
1.7 yrs

Ignatius Chan

TITLE
Independent Non-Executive Director
COMPENSATION
HK$987K
AGE
62
TENURE
10.7 yrs

Fred Hu

TITLE
Independent Non-Executive Director
COMPENSATION
HK$1M
AGE
56
TENURE
5.1 yrs

Anita Fung

TITLE
Independent Non-Executive Director
COMPENSATION
HK$1M
AGE
59
TENURE
4.7 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
09. Oct 19 Sell BlackRock, Inc. Company 08. Oct 19 08. Oct 19 -98,600 HK$232.20 HK$-22,889,312
09. Oct 19 Buy BlackRock, Inc. Company 08. Oct 19 08. Oct 19 74,700 HK$232.20 HK$17,329,560
03. Oct 19 Sell Goldman Sachs Group, Investment Banking and Securities Investments Company 02. Oct 19 02. Oct 19 -63,600 HK$227.09 HK$-14,443,051
03. Oct 19 Buy Goldman Sachs Group, Investment Banking and Securities Investments Company 02. Oct 19 02. Oct 19 63,600 HK$228.80 HK$14,551,680
09. Oct 19 Sell Goldman Sachs Group, Investment Banking and Securities Investments Company 08. Oct 19 08. Oct 19 -467,600 HK$232.53 HK$-108,732,572
09. Oct 19 Buy Goldman Sachs Group, Investment Banking and Securities Investments Company 08. Oct 19 08. Oct 19 467,600 HK$233.80 HK$109,324,882
07. Oct 19 Sell BlackRock, Inc. Company 04. Oct 19 04. Oct 19 -1,100 HK$226.00 HK$-248,600
07. Oct 19 Buy BlackRock, Inc. Company 04. Oct 19 04. Oct 19 14,200 HK$226.00 HK$3,209,200
04. Oct 19 Sell HSBC Global Asset Management (UK) Limited Company 03. Oct 19 03. Oct 19 -94,240 HK$230.00 HK$-21,675,200
07. Oct 19 Sell American Century Investment Management Inc. Company 04. Oct 19 04. Oct 19 -10,800 HK$228.59 HK$-2,468,720
07. Oct 19 Buy T. Rowe Price Group, Inc. Company 04. Oct 19 04. Oct 19 100 HK$227.80 HK$22,780
09. Oct 19 Sell Capital Research and Management Company Company 08. Oct 19 08. Oct 19 -300 HK$231.20 HK$-69,360
09. Oct 19 Buy Capital Research and Management Company Company 08. Oct 19 08. Oct 19 15,800 HK$232.20 HK$3,668,760
09. Oct 19 Sell Aviva Investors Global Services Limited Company 08. Oct 19 08. Oct 19 -500 HK$232.20 HK$-116,100
09. Oct 19 Buy Aviva Investors Global Services Limited Company 08. Oct 19 08. Oct 19 1,052 HK$232.20 HK$244,274
03. Oct 19 Sell Legal & General Investment Management Limited Company 02. Oct 19 02. Oct 19 -600 HK$227.00 HK$-136,200
03. Oct 19 Buy Legal & General Investment Management Limited Company 02. Oct 19 02. Oct 19 12,700 HK$228.40 HK$2,900,680
03. Oct 19 Buy T. Rowe Price Group, Inc. Company 02. Oct 19 02. Oct 19 2,800 HK$226.81 HK$635,079
09. Oct 19 Sell Wellington Management Group LLP Company 08. Oct 19 08. Oct 19 -18,339 HK$231.73 HK$-4,249,678
09. Oct 19 Buy Wellington Management Group LLP Company 08. Oct 19 08. Oct 19 435,000 HK$232.40 HK$101,092,653
03. Oct 19 Sell HSBC Global Asset Management (UK) Limited Company 02. Oct 19 02. Oct 19 -35,640 HK$228.40 HK$-8,140,176
03. Oct 19 Buy HSBC Global Asset Management (UK) Limited Company 02. Oct 19 02. Oct 19 214,521 HK$228.40 HK$48,996,596
07. Oct 19 Sell Morgan Stanley, Investment Banking and Brokerage Investments Company 04. Oct 19 04. Oct 19 -261,563 HK$229.00 HK$-59,897,928
07. Oct 19 Buy Morgan Stanley, Investment Banking and Brokerage Investments Company 04. Oct 19 04. Oct 19 261,563 HK$229.00 HK$59,897,928
07. Oct 19 Sell Wellington Management Group LLP Company 04. Oct 19 04. Oct 19 -1 HK$229.40 HK$-229
07. Oct 19 Sell J.P. Morgan Asset Management, Inc. Company 04. Oct 19 04. Oct 19 -4,200 HK$228.53 HK$-959,820
07. Oct 19 Buy J.P. Morgan Asset Management, Inc. Company 04. Oct 19 04. Oct 19 24,400 HK$228.53 HK$5,576,181
07. Oct 19 Sell Barclays Bank PLC, Securities Investments Company 04. Oct 19 04. Oct 19 -164,600 HK$229.20 HK$-37,726,320
07. Oct 19 Buy Barclays Bank PLC, Securities Investments Company 04. Oct 19 04. Oct 19 164,400 HK$229.20 HK$37,680,480
07. Oct 19 Sell UBS Asset Management Company 04. Oct 19 04. Oct 19 -2,000 HK$226.00 HK$-452,000
07. Oct 19 Sell State Street Global Advisors, Inc. Company 04. Oct 19 04. Oct 19 -1,100 HK$226.00 HK$-248,600
07. Oct 19 Sell Jefferies Group LLC, Asset Management Arm Company 04. Oct 19 04. Oct 19 -60,000 HK$227.48 HK$-13,648,782
07. Oct 19 Buy Jefferies Group LLC, Asset Management Arm Company 04. Oct 19 04. Oct 19 60,000 HK$227.60 HK$0
04. Oct 19 Buy T. Rowe Price Group, Inc. Company 03. Oct 19 03. Oct 19 9,300 HK$226.42 HK$2,105,678
04. Oct 19 Buy BlackRock, Inc. Company 03. Oct 19 03. Oct 19 13,600 HK$229.40 HK$3,119,840
03. Oct 19 Sell Jefferies Group LLC, Asset Management Arm Company 02. Oct 19 02. Oct 19 -215,500 HK$228.00 HK$-49,134,001
03. Oct 19 Buy Jefferies Group LLC, Asset Management Arm Company 02. Oct 19 02. Oct 19 215,500 HK$227.33 HK$48,990,521
03. Oct 19 Sell American Century Investment Management Inc. Company 02. Oct 19 02. Oct 19 -2,800 HK$230.00 HK$-644,000
03. Oct 19 Buy American Century Investment Management Inc. Company 02. Oct 19 02. Oct 19 700 HK$230.00 HK$159,080
03. Oct 19 Sell Baillie Gifford & Co. Company 02. Oct 19 02. Oct 19 -1,300 HK$227.00 HK$-295,100
03. Oct 19 Sell J.P. Morgan Asset Management, Inc. Company 02. Oct 19 02. Oct 19 -110,400 HK$226.17 HK$-24,969,101
03. Oct 19 Buy J.P. Morgan Asset Management, Inc. Company 02. Oct 19 02. Oct 19 17,400 HK$228.40 HK$3,966,320
03. Oct 19 Sell Standard Life Aberdeen plc Company 02. Oct 19 02. Oct 19 -800 HK$228.40 HK$-182,720
03. Oct 19 Buy Standard Life Aberdeen plc Company 02. Oct 19 02. Oct 19 12,800 HK$228.40 HK$2,923,520
03. Oct 19 Sell Morgan Stanley, Investment Banking and Brokerage Investments Company 02. Oct 19 02. Oct 19 -1,136,146 HK$228.60 HK$-259,722,977
03. Oct 19 Buy Morgan Stanley, Investment Banking and Brokerage Investments Company 02. Oct 19 02. Oct 19 1,136,146 HK$228.40 HK$259,495,742
03. Oct 19 Sell BlackRock, Inc. Company 02. Oct 19 02. Oct 19 -40,600 HK$228.40 HK$-9,232,900
03. Oct 19 Buy BlackRock, Inc. Company 02. Oct 19 02. Oct 19 44,200 HK$228.40 HK$10,021,798
01. Oct 19 Sell Legal & General Investment Management Limited Company 30. Sep 19 30. Sep 19 -3,800 HK$230.00 HK$-874,000
01. Oct 19 Buy Legal & General Investment Management Limited Company 30. Sep 19 30. Sep 19 61,900 HK$230.00 HK$14,220,700
04. Oct 19 Buy Invesco Ltd. Company 03. Oct 19 03. Oct 19 53,200 HK$228.02 HK$12,113,936
04. Oct 19 Buy UBS Asset Management Company 03. Oct 19 03. Oct 19 546,900 HK$229.25 HK$125,374,909
04. Oct 19 Buy State Street Global Advisors, Inc. Company 03. Oct 19 03. Oct 19 3,000 HK$229.40 HK$688,200
04. Oct 19 Sell Baillie Gifford & Co. Company 03. Oct 19 03. Oct 19 -1,800 HK$225.60 HK$-406,080
04. Oct 19 Buy Baillie Gifford & Co. Company 03. Oct 19 03. Oct 19 5,900 HK$226.95 HK$1,338,200
04. Oct 19 Sell J.P. Morgan Asset Management, Inc. Company 03. Oct 19 03. Oct 19 -32,800 HK$225.68 HK$-7,402,053
04. Oct 19 Buy J.P. Morgan Asset Management, Inc. Company 03. Oct 19 03. Oct 19 6,000 HK$225.75 HK$1,354,520
04. Oct 19 Sell Morgan Stanley, Investment Banking and Brokerage Investments Company 03. Oct 19 03. Oct 19 -254,100 HK$229.80 HK$-58,392,180
04. Oct 19 Buy Morgan Stanley, Investment Banking and Brokerage Investments Company 03. Oct 19 03. Oct 19 254,100 HK$229.40 HK$58,290,540
04. Oct 19 Sell Barclays Bank PLC, Securities Investments Company 03. Oct 19 03. Oct 19 -30,800 HK$229.60 HK$-7,071,680
04. Oct 19 Buy Barclays Bank PLC, Securities Investments Company 03. Oct 19 03. Oct 19 179,800 HK$229.80 HK$41,318,040
03. Oct 19 Sell Capital Research and Management Company Company 02. Oct 19 02. Oct 19 -300 HK$227.00 HK$-68,100
03. Oct 19 Buy Capital Research and Management Company Company 02. Oct 19 02. Oct 19 7,000 HK$227.02 HK$1,589,140
03. Oct 19 Buy State Street Global Advisors, Inc. Company 02. Oct 19 02. Oct 19 15,500 HK$227.00 HK$3,518,500
03. Oct 19 Buy FMR LLC Company 02. Oct 19 02. Oct 19 300 HK$227.00 HK$68,100
03. Oct 19 Sell Wellington Management Group LLP Company 02. Oct 19 02. Oct 19 -629,850 HK$227.24 HK$-143,128,248
30. Sep 19 Sell HSBC Global Asset Management (UK) Limited Company 27. Sep 19 27. Sep 19 -28,920 HK$226.92 HK$-6,528,273
30. Sep 19 Buy HSBC Global Asset Management (UK) Limited Company 27. Sep 19 27. Sep 19 28,920 HK$226.92 HK$6,528,273
01. Oct 19 Sell Wellington Management Group LLP Company 30. Sep 19 30. Sep 19 -47,585 HK$230.26 HK$-10,956,927
30. Sep 19 Sell Invesco Ltd. Company 27. Sep 19 27. Sep 19 -107 HK$226.76 HK$-24,263
02. Oct 19 Buy Capital Research and Management Company Company 30. Sep 19 30. Sep 19 350,000 HK$229.30 HK$80,255,000
01. Oct 19 Sell Morgan Stanley, Investment Banking and Brokerage Investments Company 30. Sep 19 30. Sep 19 -1,081,806 HK$232.40 HK$-251,411,716
01. Oct 19 Buy Morgan Stanley, Investment Banking and Brokerage Investments Company 30. Sep 19 30. Sep 19 1,081,806 HK$232.08 HK$251,061,206
01. Oct 19 Buy FMR LLC Company 30. Sep 19 30. Sep 19 196,900 HK$231.50 HK$45,582,350
01. Oct 19 Sell BlackRock, Inc. Company 30. Sep 19 30. Sep 19 -1,200 HK$229.58 HK$-275,500
01. Oct 19 Buy BlackRock, Inc. Company 30. Sep 19 30. Sep 19 82,100 HK$231.26 HK$18,866,720
01. Oct 19 Sell Barclays Bank PLC, Securities Investments Company 30. Sep 19 30. Sep 19 -406,948 HK$232.40 HK$-94,574,716
01. Oct 19 Buy Barclays Bank PLC, Securities Investments Company 30. Sep 19 30. Sep 19 113,024 HK$232.00 HK$26,221,568
30. Sep 19 Sell Capital Research and Management Company Company 27. Sep 19 27. Sep 19 -100 HK$225.00 HK$-22,500
30. Sep 19 Buy Capital Research and Management Company Company 27. Sep 19 27. Sep 19 1,200 HK$225.20 HK$270,240
30. Sep 19 Buy J.P. Morgan Asset Management, Inc. Company 27. Sep 19 27. Sep 19 40,900 HK$225.16 HK$9,208,901
30. Sep 19 Buy State Street Global Advisors, Inc. Company 27. Sep 19 27. Sep 19 24,200 HK$226.80 HK$5,486,160
30. Sep 19 Sell Barclays Bank PLC, Securities Investments Company 27. Sep 19 27. Sep 19 -217,300 HK$227.20 HK$-49,370,560
30. Sep 19 Buy Barclays Bank PLC, Securities Investments Company 27. Sep 19 27. Sep 19 108,100 HK$227.00 HK$24,538,700
30. Sep 19 Sell Wellington Management Group LLP Company 27. Sep 19 27. Sep 19 -176,900 HK$226.80 HK$-40,072,165
30. Sep 19 Buy Wellington Management Group LLP Company 27. Sep 19 27. Sep 19 800 HK$226.80 HK$181,440
01. Oct 19 Sell State Street Global Advisors, Inc. Company 30. Sep 19 30. Sep 19 -20,800 HK$230.00 HK$-4,783,900
01. Oct 19 Buy State Street Global Advisors, Inc. Company 30. Sep 19 30. Sep 19 72,300 HK$230.00 HK$16,623,039
01. Oct 19 Sell Goldman Sachs Group, Investment Banking and Securities Investments Company 30. Sep 19 30. Sep 19 -1,701 HK$231.00 HK$-392,931
01. Oct 19 Buy Goldman Sachs Group, Investment Banking and Securities Investments Company 30. Sep 19 30. Sep 19 1,701 HK$231.00 HK$392,931
01. Oct 19 Sell Jefferies Group LLC, Asset Management Arm Company 30. Sep 19 30. Sep 19 -40,000 HK$231.33 HK$-9,253,392
01. Oct 19 Buy Jefferies Group LLC, Asset Management Arm Company 30. Sep 19 30. Sep 19 40,000 HK$232.20 HK$0
01. Oct 19 Sell J.P. Morgan Asset Management, Inc. Company 30. Sep 19 30. Sep 19 -7,400 HK$226.91 HK$-1,679,140
01. Oct 19 Buy UBS Asset Management Company 30. Sep 19 30. Sep 19 8,000 HK$230.00 HK$1,840,000
30. Sep 19 Sell Jefferies Group LLC, Asset Management Arm Company 27. Sep 19 27. Sep 19 -600 HK$225.90 HK$-135,540
30. Sep 19 Buy Jefferies Group LLC, Asset Management Arm Company 27. Sep 19 27. Sep 19 600 HK$226.80 HK$0
30. Sep 19 Sell BlackRock, Inc. Company 27. Sep 19 27. Sep 19 -19,300 HK$226.80 HK$-4,339,999
30. Sep 19 Buy BlackRock, Inc. Company 27. Sep 19 27. Sep 19 37,000 HK$226.80 HK$8,391,600
27. Sep 19 Sell HSBC Global Asset Management (UK) Limited Company 26. Sep 19 26. Sep 19 -291,500 HK$225.80 HK$-65,820,701
30. Sep 19 Sell J.P. Morgan Asset Management, Inc. Company 25. Sep 19 25. Sep 19 -2,201,033 HK$223.03 HK$-490,900,789
26. Sep 19 Buy HSBC Global Asset Management (UK) Limited Company 24. Sep 19 24. Sep 19 501,522 HK$241.94 HK$121,338,231
25. Sep 19 Sell Artisan Partners Limited Partnership Company 24. Sep 19 24. Sep 19 -689,000 HK$225.02 HK$-155,038,779
24. Sep 19 Sell Artisan Partners Limited Partnership Company 23. Sep 19 23. Sep 19 -104,600 HK$225.50 HK$-23,587,300
27. Sep 19 Sell Capital Research and Management Company Company 26. Sep 19 26. Sep 19 -713 HK$224.39 HK$-159,990
27. Sep 19 Buy Capital Research and Management Company Company 26. Sep 19 26. Sep 19 6,100 HK$224.84 HK$1,371,436
27. Sep 19 Buy Invesco Ltd. Company 26. Sep 19 26. Sep 19 50,000 HK$225.00 HK$11,250,000
27. Sep 19 Buy Legal & General Investment Management Limited Company 26. Sep 19 26. Sep 19 55,900 HK$224.82 HK$12,565,581
25. Sep 19 Buy Norges Bank Investment Management Company 24. Sep 19 24. Sep 19 34,000 HK$224.80 HK$7,643,360
27. Sep 19 Sell Jefferies Group LLC, Asset Management Arm Company 26. Sep 19 26. Sep 19 -14,000 HK$225.20 HK$-3,152,800
27. Sep 19 Buy Jefferies Group LLC, Asset Management Arm Company 26. Sep 19 26. Sep 19 14,000 HK$225.20 HK$3,152,800
27. Sep 19 Sell Barclays Bank PLC, Securities Investments Company 26. Sep 19 26. Sep 19 -305,100 HK$225.40 HK$-68,769,541
27. Sep 19 Buy Barclays Bank PLC, Securities Investments Company 26. Sep 19 26. Sep 19 13,200 HK$225.20 HK$2,972,640
27. Sep 19 Sell BlackRock, Inc. Company 26. Sep 19 26. Sep 19 -4,700 HK$225.20 HK$-1,058,440
27. Sep 19 Buy BlackRock, Inc. Company 26. Sep 19 26. Sep 19 23,400 HK$224.86 HK$5,261,829
27. Sep 19 Buy UBS Asset Management Company 26. Sep 19 26. Sep 19 16,200 HK$225.20 HK$3,648,240
27. Sep 19 Sell State Street Global Advisors, Inc. Company 26. Sep 19 26. Sep 19 -6,400 HK$225.20 HK$-1,441,120
27. Sep 19 Buy State Street Global Advisors, Inc. Company 26. Sep 19 26. Sep 19 1,800 HK$224.40 HK$403,920
27. Sep 19 Sell T. Rowe Price Group, Inc. Company 26. Sep 19 26. Sep 19 -1,100 HK$224.85 HK$-247,340
27. Sep 19 Buy J.P. Morgan Asset Management, Inc. Company 26. Sep 19 26. Sep 19 1,500 HK$224.40 HK$336,600
27. Sep 19 Sell Goldman Sachs Group, Investment Banking and Securities Investments Company 26. Sep 19 26. Sep 19 -21,000 HK$225.20 HK$-4,729,200
27. Sep 19 Buy Goldman Sachs Group, Investment Banking and Securities Investments Company 26. Sep 19 26. Sep 19 21,000 HK$225.20 HK$4,729,200
27. Sep 19 Sell Morgan Stanley, Investment Banking and Brokerage Investments Company 26. Sep 19 26. Sep 19 -515,620 HK$225.60 HK$-116,323,874
27. Sep 19 Buy Morgan Stanley, Investment Banking and Brokerage Investments Company 26. Sep 19 26. Sep 19 515,620 HK$225.60 HK$116,323,874
27. Sep 19 Sell Baillie Gifford & Co. Company 26. Sep 19 26. Sep 19 -74,000 HK$224.81 HK$-16,635,335
26. Sep 19 Sell Barclays Bank PLC, Securities Investments Company 25. Sep 19 25. Sep 19 -76,700 HK$224.80 HK$-17,242,160
26. Sep 19 Buy Barclays Bank PLC, Securities Investments Company 25. Sep 19 25. Sep 19 71,800 HK$224.30 HK$16,104,761
26. Sep 19 Buy Invesco Ltd. Company 25. Sep 19 25. Sep 19 600 HK$222.60 HK$133,560
26. Sep 19 Sell Legal & General Investment Management Limited Company 25. Sep 19 25. Sep 19 -9,445 HK$223.99 HK$-2,115,626
26. Sep 19 Buy Legal & General Investment Management Limited Company 25. Sep 19 25. Sep 19 38,002 HK$223.05 HK$8,476,190
26. Sep 19 Sell BlackRock, Inc. Company 25. Sep 19 25. Sep 19 -5,800 HK$222.60 HK$-1,291,080
26. Sep 19 Buy BlackRock, Inc. Company 25. Sep 19 25. Sep 19 33,900 HK$223.32 HK$7,561,620
26. Sep 19 Sell Capital Research and Management Company Company 25. Sep 19 25. Sep 19 -6,256 HK$224.03 HK$-1,401,532
26. Sep 19 Buy Capital Research and Management Company Company 25. Sep 19 25. Sep 19 6,300 HK$224.01 HK$1,411,259
26. Sep 19 Sell J.P. Morgan Asset Management, Inc. Company 25. Sep 19 25. Sep 19 -91,700 HK$223.34 HK$-20,480,058
26. Sep 19 Buy J.P. Morgan Asset Management, Inc. Company 25. Sep 19 25. Sep 19 37,400 HK$223.99 HK$8,377,241
26. Sep 19 Buy Jefferies Group LLC, Asset Management Arm Company 25. Sep 19 25. Sep 19 3,100 HK$224.40 HK$695,640
26. Sep 19 Sell UBS Asset Management Company 25. Sep 19 25. Sep 19 -10,200 HK$222.60 HK$-2,270,520
26. Sep 19 Buy UBS Asset Management Company 25. Sep 19 25. Sep 19 5,300 HK$222.60 HK$1,179,780
26. Sep 19 Sell Wellington Management Group LLP Company 25. Sep 19 25. Sep 19 -245,214 HK$224.00 HK$-54,615,023
26. Sep 19 Buy Wellington Management Group LLP Company 25. Sep 19 25. Sep 19 20,800 HK$222.60 HK$4,630,080
26. Sep 19 Buy State Street Global Advisors, Inc. Company 25. Sep 19 25. Sep 19 2,600 HK$222.60 HK$578,760
26. Sep 19 Sell Baillie Gifford & Co. Company 25. Sep 19 25. Sep 19 -1,600 HK$223.06 HK$-356,902
26. Sep 19 Buy Baillie Gifford & Co. Company 25. Sep 19 25. Sep 19 2,100 HK$224.00 HK$469,000
26. Sep 19 Sell Standard Life Aberdeen plc Company 25. Sep 19 25. Sep 19 -243,129 HK$223.18 HK$-54,261,530
26. Sep 19 Sell Morgan Stanley, Investment Banking and Brokerage Investments Company 25. Sep 19 25. Sep 19 -312,656 HK$224.80 HK$-70,285,069
26. Sep 19 Buy Morgan Stanley, Investment Banking and Brokerage Investments Company 25. Sep 19 25. Sep 19 312,656 HK$224.80 HK$70,285,069
26. Sep 19 Sell Goldman Sachs Group, Investment Banking and Securities Investments Company 25. Sep 19 25. Sep 19 -100 HK$224.00 HK$-22,400
26. Sep 19 Buy Goldman Sachs Group, Investment Banking and Securities Investments Company 25. Sep 19 25. Sep 19 100 HK$224.00 HK$22,400
25. Sep 19 Sell Baillie Gifford & Co. Company 24. Sep 19 24. Sep 19 -100 HK$225.80 HK$-22,580
25. Sep 19 Sell Legal & General Investment Management Limited Company 24. Sep 19 24. Sep 19 -84,998 HK$225.80 HK$-19,192,549
25. Sep 19 Buy Legal & General Investment Management Limited Company 24. Sep 19 24. Sep 19 84,998 HK$225.80 HK$19,192,549
25. Sep 19 Buy Aviva Investors Global Services Limited Company 24. Sep 19 24. Sep 19 920 HK$225.80 HK$207,736
25. Sep 19 Sell J.P. Morgan Asset Management, Inc. Company 24. Sep 19 24. Sep 19 -1,001,900 HK$225.80 HK$-225,198,105
25. Sep 19 Buy J.P. Morgan Asset Management, Inc. Company 24. Sep 19 24. Sep 19 6,800 HK$223.40 HK$1,519,130
25. Sep 19 Sell Standard Life Aberdeen plc Company 24. Sep 19 24. Sep 19 -480,700 HK$225.17 HK$-108,237,295
25. Sep 19 Sell Morgan Stanley, Investment Banking and Brokerage Investments Company 24. Sep 19 24. Sep 19 -1,509,608 HK$226.40 HK$-341,775,249
25. Sep 19 Buy Morgan Stanley, Investment Banking and Brokerage Investments Company 24. Sep 19 24. Sep 19 1,509,608 HK$226.20 HK$341,473,331
25. Sep 19 Sell Wellington Management Group LLP Company 24. Sep 19 24. Sep 19 -200,820 HK$224.49 HK$-45,081,881
25. Sep 19 Buy Wellington Management Group LLP Company 24. Sep 19 24. Sep 19 83,000 HK$225.12 HK$18,685,242
25. Sep 19 Sell BlackRock, Inc. Company 24. Sep 19 24. Sep 19 -6,300 HK$225.80 HK$-1,422,540
25. Sep 19 Buy BlackRock, Inc. Company 24. Sep 19 24. Sep 19 30,700 HK$225.80 HK$6,912,480
25. Sep 19 Sell Invesco Ltd. Company 24. Sep 19 24. Sep 19 -4,300 HK$225.10 HK$-967,930
25. Sep 19 Buy Invesco Ltd. Company 24. Sep 19 24. Sep 19 4 HK$225.80 HK$903
25. Sep 19 Sell Barclays Bank PLC, Securities Investments Company 24. Sep 19 24. Sep 19 -160,600 HK$226.20 HK$-36,327,720
25. Sep 19 Buy Barclays Bank PLC, Securities Investments Company 24. Sep 19 24. Sep 19 381,900 HK$226.20 HK$86,385,780
25. Sep 19 Sell FMR LLC Company 24. Sep 19 24. Sep 19 -9,300 HK$225.28 HK$-2,095,104
25. Sep 19 Buy American Century Investment Management Inc. Company 24. Sep 19 24. Sep 19 200 HK$225.80 HK$45,160
25. Sep 19 Buy Capital Research and Management Company Company 24. Sep 19 24. Sep 19 76,600 HK$225.80 HK$17,289,539
25. Sep 19 Sell State Street Global Advisors, Inc. Company 24. Sep 19 24. Sep 19 -2,900 HK$225.80 HK$-654,820
25. Sep 19 Buy State Street Global Advisors, Inc. Company 24. Sep 19 24. Sep 19 7,200 HK$225.80 HK$1,625,760
20. Sep 19 Sell Standard Life Aberdeen plc Company 19. Sep 19 19. Sep 19 -8,000 HK$233.21 HK$-1,865,664
20. Sep 19 Buy T. Rowe Price Group, Inc. Company 19. Sep 19 19. Sep 19 500 HK$230.40 HK$115,200
26. Sep 19 Buy JPMorgan Chase & Co, Brokerage and Securities Investments Company 23. Sep 19 23. Sep 19 1,083,451 HK$225.72 HK$244,556,022
26. Sep 19 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 23. Sep 19 23. Sep 19 6,700 HK$225.72 HK$1,512,321
26. Sep 19 Sell J.P. Morgan Asset Management, Inc. Company 23. Sep 19 23. Sep 19 -71,958 HK$225.72 HK$-16,242,324
25. Sep 19 Sell JPMorgan Chase & Co, Brokerage and Securities Investments Company 20. Sep 19 20. Sep 19 -3,394,795 HK$230.74 HK$-783,319,407
23. Sep 19 Sell UBS Asset Management Company 20. Sep 19 20. Sep 19 -98,420 HK$230.71 HK$-22,695,863
23. Sep 19 Buy UBS Asset Management Company 20. Sep 19 20. Sep 19 19,000 HK$230.88 HK$4,386,701
24. Sep 19 Buy Jefferies Group LLC, Asset Management Arm Company 23. Sep 19 23. Sep 19 115,542 HK$229.00 HK$26,459,118
24. Sep 19 Sell Capital Research and Management Company Company 23. Sep 19 23. Sep 19 -676 HK$228.27 HK$-154,311
24. Sep 19 Buy Capital Research and Management Company Company 23. Sep 19 23. Sep 19 3,100 HK$228.40 HK$708,040
24. Sep 19 Sell Barclays Bank PLC, Securities Investments Company 23. Sep 19 23. Sep 19 -116,700 HK$229.60 HK$-26,794,320
24. Sep 19 Buy Barclays Bank PLC, Securities Investments Company 23. Sep 19 23. Sep 19 284,000 HK$229.20 HK$65,092,799
24. Sep 19 Buy Legal & General Investment Management Limited Company 23. Sep 19 23. Sep 19 4,700 HK$227.05 HK$1,067,120
24. Sep 19 Buy Aviva Investors Global Services Limited Company 23. Sep 19 23. Sep 19 2,082 HK$225.80 HK$470,116
24. Sep 19 Sell T. Rowe Price Group, Inc. Company 23. Sep 19 23. Sep 19 -359,900 HK$225.84 HK$-81,279,458
24. Sep 19 Buy T. Rowe Price Group, Inc. Company 23. Sep 19 23. Sep 19 100 HK$225.40 HK$22,540
24. Sep 19 Sell J.P. Morgan Asset Management, Inc. Company 23. Sep 19 23. Sep 19 -1,322,400 HK$226.38 HK$-298,609,146
24. Sep 19 Buy Baillie Gifford & Co. Company 23. Sep 19 23. Sep 19 3,400 HK$226.01 HK$768,431
24. Sep 19 Sell Wellington Management Group LLP Company 23. Sep 19 23. Sep 19 -474,200 HK$227.21 HK$-107,060,478
24. Sep 19 Sell Morgan Stanley, Investment Banking and Brokerage Investments Company 23. Sep 19 23. Sep 19 -825,729 HK$229.60 HK$-189,587,381
24. Sep 19 Buy Morgan Stanley, Investment Banking and Brokerage Investments Company 23. Sep 19 23. Sep 19 825,729 HK$228.40 HK$188,596,505
23. Sep 19 Sell UBS Asset Management Company 20. Sep 19 20. Sep 19 -600 HK$230.20 HK$-138,120
23. Sep 19 Buy UBS Asset Management Company 20. Sep 19 20. Sep 19 1,800 HK$230.20 HK$414,360
23. Sep 19 Buy Legal & General Investment Management Limited Company 20. Sep 19 20. Sep 19 3,300 HK$230.20 HK$759,660
23. Sep 19 Sell BlackRock, Inc. Company 20. Sep 19 20. Sep 19 -30,000 HK$230.20 HK$-6,906,000
23. Sep 19 Buy BlackRock, Inc. Company 20. Sep 19 20. Sep 19 56,300 HK$231.09 HK$12,967,680
23. Sep 19 Buy T. Rowe Price Group, Inc. Company 20. Sep 19 20. Sep 19 500 HK$231.80 HK$115,900
23. Sep 19 Sell J.P. Morgan Asset Management, Inc. Company 20. Sep 19 20. Sep 19 -18,600 HK$230.20 HK$-4,281,520
23. Sep 19 Buy J.P. Morgan Asset Management, Inc. Company 20. Sep 19 20. Sep 19 400 HK$230.00 HK$92,000
23. Sep 19 Sell Morgan Stanley, Investment Banking and Brokerage Investments Company 20. Sep 19 20. Sep 19 -771,000 HK$232.40 HK$-179,180,401
23. Sep 19 Buy Morgan Stanley, Investment Banking and Brokerage Investments Company 20. Sep 19 20. Sep 19 771,000 HK$232.40 HK$179,180,401
23. Sep 19 Buy Invesco Ltd. Company 20. Sep 19 20. Sep 19 4 HK$230.20 HK$921
23. Sep 19 Sell FMR LLC Company 20. Sep 19 20. Sep 19 -297,700 HK$230.74 HK$-68,691,297
23. Sep 19 Sell State Street Global Advisors, Inc. Company 20. Sep 19 20. Sep 19 -18,700 HK$231.03 HK$-4,310,280
23. Sep 19 Buy State Street Global Advisors, Inc. Company 20. Sep 19 20. Sep 19 19,100 HK$230.62 HK$4,401,620
20. Sep 19 Sell Barclays Bank PLC, Securities Investments Company 19. Sep 19 19. Sep 19 -278,500 HK$233.00 HK$-64,890,500
20. Sep 19 Buy Barclays Bank PLC, Securities Investments Company 19. Sep 19 19. Sep 19 130,000 HK$234.60 HK$30,498,000
20. Sep 19 Sell Artisan Partners Limited Partnership Company 19. Sep 19 19. Sep 19 -289,100 HK$230.50 HK$-66,612,494
18. Sep 19 Sell Artisan Partners Limited Partnership Company 17. Sep 19 17. Sep 19 -779,200 HK$233.76 HK$-182,145,795
20. Sep 19 Buy Legal & General Investment Management Limited Company 19. Sep 19 19. Sep 19 10,500 HK$230.20 HK$2,417,100
19. Sep 19 Sell J.P. Morgan Asset Management, Inc. Company 13. Sep 19 13. Sep 19 -300 HK$238.00 HK$-71,400
19. Sep 19 Buy J.P. Morgan Asset Management, Inc. Company 13. Sep 19 13. Sep 19 4,600 HK$238.00 HK$1,094,800
19. Sep 19 Sell Baillie Gifford & Co. Company 18. Sep 19 18. Sep 19 -35,600 HK$233.57 HK$-8,315,056
20. Sep 19 Sell Capital Research and Management Company Company 19. Sep 19 19. Sep 19 -9,600 HK$230.40 HK$-2,211,840
20. Sep 19 Buy Capital Research and Management Company Company 19. Sep 19 19. Sep 19 100 HK$234.60 HK$23,460
20. Sep 19 Sell Jefferies Group LLC, Asset Management Arm Company 19. Sep 19 19. Sep 19 -12,600 HK$231.00 HK$0
20. Sep 19 Buy Jefferies Group LLC, Asset Management Arm Company 19. Sep 19 19. Sep 19 12,600 HK$230.45 HK$2,903,731
20. Sep 19 Buy State Street Global Advisors, Inc. Company 19. Sep 19 19. Sep 19 2,000 HK$230.20 HK$460,400
20. Sep 19 Sell Morgan Stanley Investment Management Inc. Company 19. Sep 19 19. Sep 19 -5,400 HK$230.92 HK$-1,246,981
20. Sep 19 Buy UBS Asset Management Company 19. Sep 19 19. Sep 19 500 HK$234.60 HK$117,300
20. Sep 19 Buy American Century Investment Management Inc. Company 19. Sep 19 19. Sep 19 6,400 HK$233.20 HK$1,492,480
20. Sep 19 Sell J.P. Morgan Asset Management, Inc. Company 19. Sep 19 19. Sep 19 -29,000 HK$231.99 HK$-6,727,780
20. Sep 19 Buy J.P. Morgan Asset Management, Inc. Company 19. Sep 19 19. Sep 19 12,100 HK$234.52 HK$2,837,720
20. Sep 19 Sell BlackRock, Inc. Company 19. Sep 19 19. Sep 19 -8,200 HK$230.20 HK$-1,887,640
20. Sep 19 Buy BlackRock, Inc. Company 19. Sep 19 19. Sep 19 4,900 HK$234.60 HK$1,149,540
19. Sep 19 Sell Goldman Sachs Group, Investment Banking and Securities Investments Company 18. Sep 19 18. Sep 19 -3,700 HK$233.60 HK$-864,310
19. Sep 19 Buy Goldman Sachs Group, Investment Banking and Securities Investments Company 18. Sep 19 18. Sep 19 3,700 HK$234.20 HK$0
19. Sep 19 Sell Capital Research and Management Company Company 18. Sep 19 18. Sep 19 -500 HK$232.80 HK$-116,400
19. Sep 19 Buy State Street Global Advisors, Inc. Company 18. Sep 19 18. Sep 19 2,500 HK$232.80 HK$582,000
19. Sep 19 Sell J.P. Morgan Asset Management, Inc. Company 18. Sep 19 18. Sep 19 -55,000 HK$233.70 HK$-12,853,341
19. Sep 19 Buy J.P. Morgan Asset Management, Inc. Company 18. Sep 19 18. Sep 19 16,700 HK$233.20 HK$3,893,839
19. Sep 19 Sell J.P. Morgan Asset Management, Inc. Company 17. Sep 19 17. Sep 19 -15,800 HK$234.89 HK$-3,708,124
19. Sep 19 Buy J.P. Morgan Asset Management, Inc. Company 17. Sep 19 17. Sep 19 3,300 HK$235.20 HK$776,160
19. Sep 19 Sell UBS Asset Management Company 18. Sep 19 18. Sep 19 -2,200 HK$233.20 HK$-513,040
17. Sep 19 Sell Jefferies Group LLC, Asset Management Arm Company 16. Sep 19 16. Sep 19 -45,300 HK$236.20 HK$-10,699,860
17. Sep 19 Buy Jefferies Group LLC, Asset Management Arm Company 16. Sep 19 16. Sep 19 45,300 HK$236.60 HK$10,717,980
19. Sep 19 Sell Goldman Sachs Group, Investment Banking and Securities Investments Company 18. Sep 19 18. Sep 19 -4,800 HK$233.57 HK$-1,121,128
20. Sep 19 Sell Morgan Stanley, Investment Banking and Brokerage Investments Company 19. Sep 19 19. Sep 19 -1,832,148 HK$234.60 HK$-429,821,923
20. Sep 19 Buy Morgan Stanley, Investment Banking and Brokerage Investments Company 19. Sep 19 19. Sep 19 1,832,148 HK$234.60 HK$429,821,923
20. Sep 19 Sell FMR LLC Company 19. Sep 19 19. Sep 19 -11,000 HK$232.99 HK$-2,562,890
20. Sep 19 Buy Wellington Management Group LLP Company 19. Sep 19 19. Sep 19 27,100 HK$233.57 HK$6,329,780
19. Sep 19 Sell BlackRock, Inc. Company 18. Sep 19 18. Sep 19 -3,243 HK$233.20 HK$-756,250
19. Sep 19 Buy BlackRock, Inc. Company 18. Sep 19 18. Sep 19 17,719 HK$233.60 HK$4,136,188
16. Sep 19 Sell Goldman Sachs Group, Investment Banking and Securities Investments Company 13. Sep 19 13. Sep 19 -75,400 HK$241.40 HK$-18,201,560
16. Sep 19 Buy Goldman Sachs Group, Investment Banking and Securities Investments Company 13. Sep 19 13. Sep 19 75,400 HK$240.80 HK$18,156,320
16. Sep 19 Sell Wellington Management Group LLP Company 13. Sep 19 13. Sep 19 -311,600 HK$237.97 HK$-74,152,636
17. Sep 19 Sell J.P. Morgan Asset Management, Inc. Company 16. Sep 19 16. Sep 19 -792,300 HK$238.00 HK$-187,283,198
17. Sep 19 Buy J.P. Morgan Asset Management, Inc. Company 16. Sep 19 16. Sep 19 400 HK$238.00 HK$95,200
16. Sep 19 Sell Morgan Stanley Investment Management Inc. Company 13. Sep 19 13. Sep 19 -5,400 HK$237.44 HK$-1,282,161
19. Sep 19 Sell Morgan Stanley, Investment Banking and Brokerage Investments Company 18. Sep 19 18. Sep 19 -163,300 HK$234.60 HK$-38,310,180
19. Sep 19 Buy Morgan Stanley, Investment Banking and Brokerage Investments Company 18. Sep 19 18. Sep 19 163,300 HK$234.20 HK$38,244,860
19. Sep 19 Sell FMR LLC Company 18. Sep 19 18. Sep 19 -6,300 HK$233.39 HK$-1,470,357
19. Sep 19 Sell Standard Life Aberdeen plc Company 18. Sep 19 18. Sep 19 -763,500 HK$233.58 HK$-178,334,512
18. Sep 19 Buy BlackRock, Inc. Company 17. Sep 19 17. Sep 19 97,100 HK$235.15 HK$22,594,230
18. Sep 19 Buy Wellington Management Group LLP Company 17. Sep 19 17. Sep 19 145 HK$232.48 HK$33,709
18. Sep 19 Sell Barclays Bank PLC, Securities Investments Company 16. Sep 19 16. Sep 19 -176,500 HK$238.00 HK$-42,007,000
18. Sep 19 Buy Barclays Bank PLC, Securities Investments Company 16. Sep 19 16. Sep 19 345,500 HK$238.60 HK$82,436,300
18. Sep 19 Sell Barclays Bank PLC, Securities Investments Company 17. Sep 19 17. Sep 19 -393,300 HK$235.80 HK$-92,740,139
18. Sep 19 Buy Barclays Bank PLC, Securities Investments Company 17. Sep 19 17. Sep 19 199,500 HK$235.20 HK$46,922,401
18. Sep 19 Sell Morgan Stanley, Investment Banking and Brokerage Investments Company 17. Sep 19 17. Sep 19 -588,244 HK$235.80 HK$-138,707,933
18. Sep 19 Buy Morgan Stanley, Investment Banking and Brokerage Investments Company 17. Sep 19 17. Sep 19 588,244 HK$235.80 HK$138,707,933
17. Sep 19 Sell T. Rowe Price Group, Inc. Company 16. Sep 19 16. Sep 19 -254,600 HK$235.62 HK$-59,865,833
18. Sep 19 Sell Goldman Sachs Group, Investment Banking and Securities Investments Company 17. Sep 19 17. Sep 19 -100 HK$234.12 HK$-23,412
18. Sep 19 Sell M&G Investment Management Limited Company 17. Sep 19 17. Sep 19 -22,500 HK$233.81 HK$-5,260,660
18. Sep 19 Sell Goldman Sachs Group, Investment Banking and Securities Investments Company 17. Sep 19 17. Sep 19 -300 HK$235.00 HK$-70,500
18. Sep 19 Buy Goldman Sachs Group, Investment Banking and Securities Investments Company 17. Sep 19 17. Sep 19 300 HK$235.00 HK$70,500
18. Sep 19 Sell Capital Research and Management Company Company 17. Sep 19 17. Sep 19 -29,540 HK$235.20 HK$-6,922,662
18. Sep 19 Sell Jefferies Group LLC, Asset Management Arm Company 17. Sep 19 17. Sep 19 -230,300 HK$235.20 HK$-54,166,561
18. Sep 19 Buy Jefferies Group LLC, Asset Management Arm Company 17. Sep 19 17. Sep 19 230,300 HK$235.40 HK$54,212,620
18. Sep 19 Buy GIC Pte. Ltd. Company 17. Sep 19 17. Sep 19 19,500 HK$232.60 HK$4,535,700
18. Sep 19 Sell Legal & General Investment Management Limited Company 17. Sep 19 17. Sep 19 -6,300 HK$232.60 HK$-1,465,380
18. Sep 19 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 17. Sep 19 17. Sep 19 -7,800 HK$232.60 HK$-1,814,280
18. Sep 19 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 17. Sep 19 17. Sep 19 7,800 HK$232.60 HK$1,814,280
18. Sep 19 Sell Standard Life Aberdeen plc Company 17. Sep 19 17. Sep 19 -873,800 HK$232.12 HK$-202,825,580
18. Sep 19 Sell GIC Pte. Ltd. Company 13. Sep 19 13. Sep 19 -1,900 HK$238.92 HK$-453,948
16. Sep 19 Sell Baillie Gifford & Co. Company 13. Sep 19 13. Sep 19 -2,000 HK$238.89 HK$-477,780
16. Sep 19 Sell Capital Research and Management Company Company 13. Sep 19 13. Sep 19 -1,295,239 HK$238.92 HK$-309,458,498
16. Sep 19 Buy Capital Research and Management Company Company 13. Sep 19 13. Sep 19 3,600 HK$238.00 HK$856,800
16. Sep 19 Buy T. Rowe Price Group, Inc. Company 13. Sep 19 13. Sep 19 1,800 HK$240.80 HK$433,440
13. Sep 19 Sell Morgan Stanley Investment Management Inc. Company 12. Sep 19 12. Sep 19 -5,400 HK$238.32 HK$-1,286,908
17. Sep 19 Sell Invesco Ltd. Company 16. Sep 19 16. Sep 19 -1,590,800 HK$235.42 HK$-374,506,135
17. Sep 19 Sell BlackRock, Inc. Company 16. Sep 19 16. Sep 19 -218,300 HK$235.01 HK$-51,303,622
17. Sep 19 Buy BlackRock, Inc. Company 16. Sep 19 16. Sep 19 300 HK$238.00 HK$71,100
17. Sep 19 Buy UBS Asset Management Company 16. Sep 19 16. Sep 19 1,500 HK$235.00 HK$352,500
16. Sep 19 Sell Jefferies Group LLC, Asset Management Arm Company 13. Sep 19 13. Sep 19 -218,772 HK$240.08 HK$-52,521,884
16. Sep 19 Buy Jefferies Group LLC, Asset Management Arm Company 13. Sep 19 13. Sep 19 218,772 HK$241.20 HK$52,767,806
12. Sep 19 Buy State Street Global Advisors, Inc. Company 11. Sep 19 11. Sep 19 3,500 HK$246.00 HK$859,150
16. Sep 19 Sell Aviva Investors Global Services Limited Company 13. Sep 19 13. Sep 19 -200 HK$238.00 HK$-47,600
16. Sep 19 Sell Barclays Bank PLC, Securities Investments Company 13. Sep 19 13. Sep 19 -24,700 HK$240.80 HK$-5,947,760
16. Sep 19 Buy Barclays Bank PLC, Securities Investments Company 13. Sep 19 13. Sep 19 235,200 HK$241.20 HK$56,730,239
16. Sep 19 Buy UBS Asset Management Company 13. Sep 19 13. Sep 19 201,600 HK$240.08 HK$48,399,301
16. Sep 19 Buy JPMorgan Chase & Co, Brokerage and Securities Investments Company 11. Sep 19 11. Sep 19 3,430,565 HK$242.52 HK$831,969,303
13. Sep 19 Sell Invesco Ltd. Company 12. Sep 19 12. Sep 19 -1,682,800 HK$237.81 HK$-400,160,562
13. Sep 19 Sell Goldman Sachs Group, Investment Banking and Securities Investments Company 12. Sep 19 12. Sep 19 -1,800 HK$237.70 HK$-427,865
13. Sep 19 Sell Goldman Sachs Group, Investment Banking and Securities Investments Company 12. Sep 19 12. Sep 19 -502,200 HK$239.80 HK$-120,427,561
13. Sep 19 Buy Goldman Sachs Group, Investment Banking and Securities Investments Company 12. Sep 19 12. Sep 19 502,200 HK$239.40 HK$120,226,680
13. Sep 19 Buy Capital Research and Management Company Company 12. Sep 19 12. Sep 19 13,500 HK$237.72 HK$3,209,240
13. Sep 19 Sell FMR LLC Company 12. Sep 19 12. Sep 19 -966,800 HK$238.21 HK$-230,290,878
12. Sep 19 Sell Goldman Sachs Group, Investment Banking and Securities Investments Company 11. Sep 19 11. Sep 19 -384,173 HK$245.80 HK$-94,429,724
12. Sep 19 Buy Goldman Sachs Group, Investment Banking and Securities Investments Company 11. Sep 19 11. Sep 19 384,173 HK$244.54 HK$93,944,321
12. Sep 19 Buy Capital Research and Management Company Company 11. Sep 19 11. Sep 19 100 HK$243.60 HK$24,360
13. Sep 19 Sell Wellington Management Group LLP Company 12. Sep 19 12. Sep 19 -317,800 HK$237.40 HK$-75,447,277
12. Sep 19 Sell Barclays Bank PLC, Securities Investments Company 11. Sep 19 11. Sep 19 -125,100 HK$246.00 HK$-30,774,600
12. Sep 19 Buy Barclays Bank PLC, Securities Investments Company 11. Sep 19 11. Sep 19 261,500 HK$246.00 HK$64,329,000
13. Sep 19 Sell State Street Global Advisors, Inc. Company 12. Sep 19 12. Sep 19 -57,825 HK$237.40 HK$-13,727,655
13. Sep 19 Sell Morgan Stanley, Investment Banking and Brokerage Investments Company 12. Sep 19 12. Sep 19 -2,260,808 HK$241.58 HK$-546,159,213
13. Sep 19 Buy Morgan Stanley, Investment Banking and Brokerage Investments Company 12. Sep 19 12. Sep 19 2,260,808 HK$241.58 HK$546,159,213
12. Sep 19 Sell Morgan Stanley, Investment Banking and Brokerage Investments Company 11. Sep 19 11. Sep 19 -1,399,972 HK$246.00 HK$-344,393,112
12. Sep 19 Buy Morgan Stanley, Investment Banking and Brokerage Investments Company 11. Sep 19 11. Sep 19 1,399,972 HK$246.00 HK$344,393,112
13. Sep 19 Sell UBS Asset Management Company 12. Sep 19 12. Sep 19 -1,700 HK$237.40 HK$-403,580
13. Sep 19 Buy UBS Asset Management Company 12. Sep 19 12. Sep 19 2,100 HK$237.40 HK$498,540
12. Sep 19 Sell BlackRock, Inc. Company 11. Sep 19 11. Sep 19 -14,400 HK$246.00 HK$-3,542,400
12. Sep 19 Buy BlackRock, Inc. Company 11. Sep 19 11. Sep 19 63,400 HK$246.00 HK$15,596,400
12. Sep 19 Sell Jefferies Group LLC, Asset Management Arm Company 11. Sep 19 11. Sep 19 -111,600 HK$246.00 HK$-27,453,600
12. Sep 19 Buy Jefferies Group LLC, Asset Management Arm Company 11. Sep 19 11. Sep 19 111,600 HK$244.84 HK$27,324,568
03. Sep 19 Sell JPMorgan Chase & Co, Brokerage and Securities Investments Company 29. Aug 19 29. Aug 19 -21,339,704 HK$241.13 HK$-5,145,694,038
30. Aug 19 Sell JPMorgan Chase & Co, Brokerage and Securities Investments Company 27. Aug 19 27. Aug 19 -113,033 HK$242.32 HK$-27,390,292
30. Aug 19 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 27. Aug 19 27. Aug 19 -737 HK$242.32 HK$-178,591
30. Aug 19 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 27. Aug 19 27. Aug 19 3,569,076 HK$242.32 HK$864,862,768
30. Aug 19 Sell J.P. Morgan Asset Management, Inc. Company 27. Aug 19 27. Aug 19 -10,585,129 HK$242.32 HK$-2,565,001,128
30. Aug 19 Buy J.P. Morgan Asset Management, Inc. Company 27. Aug 19 27. Aug 19 10,800 HK$242.32 HK$2,617,069
29. Aug 19 Buy J.P. Morgan Asset Management, Inc. Company 26. Aug 19 26. Aug 19 7,343,215 HK$244.09 HK$1,792,417,819
22. Aug 19 Buy JPMorgan Chase & Co, Brokerage and Securities Investments Company 19. Aug 19 19. Aug 19 9,205,280 HK$251.35 HK$2,313,773,820
22. Aug 19 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 19. Aug 19 19. Aug 19 -3,467,765 HK$251.35 HK$-871,632,788
22. Aug 19 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 19. Aug 19 19. Aug 19 8,900 HK$251.35 HK$2,237,041
22. Aug 19 Buy J.P. Morgan Asset Management, Inc. Company 19. Aug 19 19. Aug 19 2,939,803 HK$251.35 HK$738,928,009
21. Aug 19 Buy J.P. Morgan Asset Management, Inc. Company 16. Aug 19 16. Aug 19 11,360,841 HK$242.01 HK$2,749,424,671
19. Mar 19 Sell J.P. Morgan Asset Management, Inc. Company 14. Mar 19 14. Mar 19 -16,922,005 HK$273.39 HK$-4,626,295,069
11. Mar 19 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 06. Mar 19 06. Mar 19 3,565,227 HK$278.09 HK$991,445,423
X
Management checks
We assess Hong Kong Exchanges and Clearing's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Hong Kong Exchanges and Clearing has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

388 News

Simply Wall St News

Should You Be Tempted To Sell Hong Kong Exchanges and Clearing Limited (HKG:388) Because Of Its P/E Ratio?

Hong Kong Exchanges and Clearing has a price to earnings ratio of 31.62, based on the last twelve months. … Check out our latest analysis for Hong Kong Exchanges and Clearing How Do I Calculate Hong Kong Exchanges and Clearing's Price To Earnings Ratio? … The formula for P/E is: Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS) Or for Hong Kong Exchanges and Clearing: P/E of 31.62 = HK$240 ÷ HK$7.59 (Based on the trailing twelve months to June 2019.) Is A High P/E Ratio Good?

Simply Wall St -

Be Sure To Check Out Hong Kong Exchanges and Clearing Limited (HKG:388) Before It Goes Ex-Dividend

Some investors rely on dividends for growing their wealth, and if you're one of those dividend sleuths, you might be intrigued to know that Hong Kong Exchanges and Clearing Limited (HKG:388) is about to go ex-dividend in just 4 days. … Hong Kong Exchanges and Clearing's next dividend payment will be HK$3.72 per share, and in the last 12 months, the company paid a total of HK$6.71 per share. … Check out our latest analysis for Hong Kong Exchanges and Clearing Dividends are usually paid out of company profits, so if a company pays out more than it earned then its dividend is usually at greater risk of being cut.

Simply Wall St -

Hong Kong Exchanges and Clearing Limited (HKG:388): The Best Of Both Worlds

Hong Kong Exchanges and Clearing Limited (HKG:388) is a company with exceptional fundamental characteristics. … For those interested in understanding where the figures come from and want to see the analysis, read the full report on Hong Kong Exchanges and Clearing here. … SEHK:388 Historical Dividend Yield, August 16th 2019 Next Steps: For Hong Kong Exchanges and Clearing, there are three pertinent aspects you should look at: Future Outlook: What are well-informed industry analysts predicting for 388’s future growth?

Simply Wall St -

Does Hong Kong Exchanges and Clearing (HKG:388) Deserve A Spot On Your Watchlist?

View our latest analysis for Hong Kong Exchanges and Clearing How Fast Is Hong Kong Exchanges and Clearing Growing? … Hong Kong Exchanges and Clearing maintained stable EBIT margins over the last year, all while growing revenue 13% to HK$16b. … We would not expect to see insiders owning a large percentage of a HK$334b company like Hong Kong Exchanges and Clearing.

Simply Wall St -

Do Directors Own Hong Kong Exchanges and Clearing Limited (HKG:388) Shares?

The big shareholder groups in Hong Kong Exchanges and Clearing Limited (HKG:388) have power over the company. … See our latest analysis for Hong Kong Exchanges and Clearing SEHK:388 Ownership Summary, July 18th 2019 What Does The Institutional Ownership Tell Us About Hong Kong Exchanges and Clearing? … Insider Ownership Of Hong Kong Exchanges and Clearing The definition of an insider can differ slightly between different countries, but members of the board of directors always count.

Simply Wall St -

Did You Miss Hong Kong Exchanges and Clearing's (HKG:388) 83% Share Price Gain?

For example, long term Hong Kong Exchanges and Clearing Limited (HKG:388) shareholders have enjoyed a 83% share price rise over the last half decade, well in excess of the market return of around 6.4% (not including dividends). … During five years of share price growth, Hong Kong Exchanges and Clearing achieved compound earnings per share (EPS) growth of 14% per year. … We note that for Hong Kong Exchanges and Clearing the TSR over the last 5 years was 106%, which is better than the share price return mentioned above.

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Is Hong Kong Exchanges and Clearing (HKG:388) A Risky Investment?

We note that Hong Kong Exchanges and Clearing Limited (HKG:388) does have debt on its balance sheet. … While Hong Kong Exchanges and Clearing has net cash on its balance sheet, it's still worth taking a look at its ability to convert earnings before interest and tax (EBIT) to free cash flow, to help us understand how quickly it is building (or eroding) that cash balance. … Summing up While it is always sensible to investigate a company's debt, in this case Hong Kong Exchanges and Clearing has HK$228b in net cash and a decent-looking balance sheet.

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At HK$259, Is Hong Kong Exchanges and Clearing Limited (HKG:388) Worth Looking At Closely?

Let’s take a look at Hong Kong Exchanges and Clearing’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change. … Given that Hong Kong Exchanges and Clearing’s share is fairly volatile (i.e. its price movements are magnified relative to the rest of the market) this could mean the price can sink lower, giving us another chance to buy in the future. … What does the future of Hong Kong Exchanges and Clearing look like?

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How Should Investors React To Hong Kong Exchanges and Clearing Limited's (HKG:388) CEO Pay?

Our data indicates that Hong Kong Exchanges and Clearing Limited is worth HK$316b, and total annual CEO compensation is HK$52m. … It would therefore appear that Hong Kong Exchanges and Clearing Limited pays Charles Li more than the median CEO remuneration at large companies, in the same market. … We examined the amount Hong Kong Exchanges and Clearing Limited pays its CEO, and compared it to the amount paid by other large companies.

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Is Hong Kong Exchanges and Clearing Limited (HKG:388) A Smart Pick For Income Investors?

Today we'll take a closer look at Hong Kong Exchanges and Clearing Limited (HKG:388) from a dividend investor's perspective. … Unfortunately, one common occurrence with dividend companies is for investors to be enticed in by the seemingly attractive yield, and lose money when the company has to cut its dividend payments. … A 2.4% yield is nothing to get excited about, but investors probably think the long payment history suggests Hong Kong Exchanges and Clearing has some staying power.

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388 Company Info

Description

Hong Kong Exchanges and Clearing Limited, together with its subsidiaries, owns and operates stock exchanges and futures exchanges, and related clearing houses in Hong Kong. It operates in five segments: Cash, Equity and Financial Derivatives, Commodities, Clearing, and Platform and Infrastructure. The Cash segment covers various equity products traded on the cash market platforms, the Shanghai Stock Exchange, and the Shenzhen Stock Exchange; sale of market data relating to the products; and other related activities. The Equity and Financial Derivatives segment provides and maintains trading platforms for a range of equity and financial derivative products, such as stock and equity index futures and options, derivative warrants, and callable bull/bear contracts and warrants, as well as sells related market data. The Commodities segment operates an exchange for the trading of base metals futures and options contracts in the United Kingdom; and operates Qianhai Mercantile Exchange Co., Ltd., a commodity trading platform in the Mainland. This segment also comprises the Asia Commodities contracts, and gold and iron ore futures contracts traded on Hong Kong Futures Exchange Limited. The Clearing segment operates clearing houses that are responsible for clearing and settlement of over-the-counter derivatives contracts. The Platform and Infrastructure segment offers various services that provide users with access to the platform and infrastructure. The company serves issuers and investors. Hong Kong Exchanges and Clearing Limited is based in Central, Hong Kong.

Details
Name: Hong Kong Exchanges and Clearing Limited
388
Exchange: SEHK
Founded:
HK$308,235,438,105
1,258,103,829
Website: http://www.hkex.com.hk
Address: Hong Kong Exchanges and Clearing Limited
Two Exchange Square,
8th Floor,
Central,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 388 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 28. Jun 2000
OTCPK HKXC.F Ordinary Shares Pink Sheets LLC US USD 28. Jun 2000
DB HK2C Ordinary Shares Deutsche Boerse AG DE EUR 28. Jun 2000
SHSC 388 Ordinary Shares Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 28. Jun 2000
SZSC 388 Ordinary Shares The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 28. Jun 2000
OTCPK HKXC.Y UNSPONSORED ADR Pink Sheets LLC US USD 23. Oct 2008
Number of employees
Current staff
Staff numbers
2,109
Hong Kong Exchanges and Clearing employees.
Industry
Financial Exchanges and Data
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/12/07 12:34
End of day share price update: 2019/12/06 00:00
Last estimates confirmation: 2019/12/04
Last earnings filing: 2019/11/25
Last earnings reported: 2019/09/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.