国泰君安表示，市场流动性持续改善利好券商板块，建议增持有并购预期的头部券商。中信证券发布研报称，证券板块在当前资金面回暖、政策面转向的环境下，有望凭借高成交额、高保证金规模和低业绩基数优势实现基本面环比与同比的显著改善，结合当前估值水平，行业估值仍具备提升空间。Chinese brokerage stocks rebounded today. As of press release, China Merchants Securities (06099) rose 3.94% to HK$14.78; Shen Wan Hongyuan (06806) rose 2.43% to HK$2.53; CITIC Construction Investment Securities (06066) rose 1.96% to HK$10.4; and CICC (03908) rose 1.15% to HK$14.04.
The Zhitong Finance App learned that Chinese brokerage stocks rebounded today. As of press release, China Merchants Securities (06099) rose 3.94% to HK$14.78; Shen Wan Hongyuan (06806) rose 2.43% to HK$2.53; CITIC Construction Investment Securities (06066) rose 1.96% to HK$10.4; and CICC (03908) rose 1.15% to HK$14.04.
According to the news, Chairman Wu Qing of the China Securities Regulatory Commission said in his speech at the Hong Kong Stock Exchange 10th Anniversary Connectivity Summit that the CSRC is speeding up a new round of comprehensive deepening capital market reform and opening up, and will launch more practical measures in terms of market opening up and cross-border investment and financing facilitation.
Guotai Junan said that the continued improvement in market liquidity is beneficial to the brokerage sector, and it is recommended to increase the number of leading brokerage firms that are expected to hold mergers and acquisitions. CITIC Securities released a research report saying that in the current environment of capital recovery and policy changes, the securities sector is expected to achieve significant month-on-month and year-over-year improvements in fundamentals with the advantages of high turnover, high margin size, and low performance base. Combined with current valuation levels, there is still room for improvement in industry valuations.
