[Citi: Lowers the target price of Hong Kong Exchanges and Clearing to HK$455 Maintain "Buy" rating] On November 9th, Citigroup issued a research report saying that it would lower the Hong Kong Stock Exchange's earnings per share forecast for fiscal years 2026 to 2028 by 1% to 2%, mainly reflecting the lower forecast of Hong Kong stocks' daily average trading volume and the weaker derivatives trading performance in October. It slightly lowered the target price of Hong Kong Stock Exchange (00388) from HK$460 to HK$455, maintaining a "Buy" rating. Based on the third quarter results of the Hong Kong Stock Exchange and October trading data, the bank lowered its earnings per share forecast for fiscal years 2026 to 2028 by 1% to 2% to reflect a 1% decrease in the forecast for the average daily trading volume of Hong Kong stocks and the weaker trading performance of derivatives in October. Citi currently predicts that the average daily trading volume of Hong Kong stocks will reach HK$254 billion in 2027.