J.P. Morgan Upgrades HashKey To Overweight, Sees RWA And Onshore Shift As Catalysts
J.P. Morgan upgraded HashKey to Overweight, citing resilient trading volume and RWA tokenization potential, while keeping its HK$5.00 target.
➤ J.P. Morgan upgraded HashKey to 'Overweight', citing resilient trading volume and the long-term potential of Real-World Asset (RWA) tokenization. ➤ The upgrade reflects a belief that licensed onshore venues in Hong Kong are gaining market share from offshore exchanges, with HashKey positioned as a key infrastructure provider for tokenized securities. ➤ While positive on HashKey's strategy and structural advantages, J.P. Morgan maintained its target price, indicating a measured outlook on near-term execution and potential market risks.
