$ZA ONLINE(06060.HK) barely moved, $HKEX(00388.HK) also remained completely still; both stayed flat all day.
The revenue models of insurtech and exchanges are actually tied to the same variable—market activity. When turnover increases, exchanges collect fees, and insurtech's online customer acquisition costs decrease; theoretically, they should benefit together.
However, while Hong Kong stock market turnover has recently shown clear signs of recovery, these two have shown no reaction at all. Is it that the improvement in activity hasn't yet reached a level where it can be reflected in earnings, or does the market simply not recognize this transmission chain? 😳
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