编辑/SomerOn October 4, China-affiliated brokerage stocks listed in Hong Kong surged across the board, $CC SECURITIES (01375.HK)$ rising over 31%, $Shenwan Hongyuan Group (000166.SZ)$ up nearly 24%, $CMSC (06099.HK)$ surging over 18%, $EB SECURITIES (06178.HK)$Please use your Futubull account to access the feature.$CGS (06881.HK)$ rising more than 15%.
On the news front, with a series of policies being intensively released, market sentiment is warming up. There is a noticeable increase in customer account opening willingness, with a sharp rise in the daily average number of new accounts. Online account openings are experiencing waiting queues as both individual and institutional clients show strong intention to enter the market. During the National Day holiday, brokerages are generally operating as usual to meet the strong demand for new account openings. According to media reports, the account opening volumes of many brokerages have shown a 2-4 times increase recently. A person from a large brokerage mentioned that in terms of inactive user accounts, the daily average number of customer recalls has increased by 3-5 times compared to the previous period.
UBS Group believes that brokerage stocks will benefit from both macroeconomic and capital market support measures. The brokerage stocks listed in Hong Kong covered by the bank's research currently have a price-to-book ratio of only 0.4 times, which is at a historically low level. China International Capital Corporation also believes that the performance, valuation, and positions of the brokerage sector have all hit bottom, recent reserve requirement ratio cuts and interest rate reductions have provided market liquidity, new policy tools support the development of the stock market, internal industry mergers and acquisitions are accelerating, and it advises investors to pay attention to M&A transaction sentiment, market improvements, and rebound opportunities under the catalysis of internal and external policies.
Editor/Somer
