此外，据上交所披露，2024年12月A股新增开户数为198.9万户，环比下滑26%，同比增长75%，2024全年新增开户数2500万户，同比增长17%。开源证券指出，12月开户数环比回落同比仍然高增，关注市场成交量与换手率中枢提升。该行表示，传统券商估值仍在低位，尚未充分反映2024年和2025年盈利改善预期，2025年1月券商公告2024年业绩预告或成为板块催化剂。China-Affiliated Brokerage stocks declined broadly in the morning session. As of the time of writing, China Merchants (06099) fell by 4.22% to HK$13.62; Guolian (01456) dropped by 2.98% to HK$3.91; Everbright (06178) decreased by 2.06% to HK$7.12; CSC (06066) declined by 1.94% to HK$9.09.
According to Zhitong Finance APP, China-Affiliated Brokerage stocks broadly declined in early trading. As of the time of reporting, China Merchants (06099) fell by 4.22% to HKD 13.62; Guolian (01456) dropped by 2.98% to HKD 3.91; Everbright (06178) decreased by 2.06% to HKD 7.12; CSC (06066) fell by 1.94% to HKD 9.09.
Jianghai Securities pointed out that the market showed a trend of accelerating decline over the latest week, with the Wind All A Index down by 7.00%. The drop in trading style has dragged down funds' risk appetite, which may be a more important reason for the current market adjustment. The firm believes that the continuous adjustment of trading style is mainly due to the significant profit-taking pressure accumulated since the continuous surge in September. Additionally, with the peak period for 2024 earnings forecasts approaching in January, the firm believes that market concerns regarding the risk of poor-performing small-cap stocks facing performance blowup risk is another reason for the recent adjustment in trading style. From this perspective, small-cap stocks may still have further risk release potential.
Furthermore, according to the Shanghai Stock Exchange, in December 2024, the number of new A-share accounts was 1.989 million, a 26% month-on-month decline but a 75% year-on-year increase, with a total of 25 million new accounts for the year 2024, representing a 17% year-on-year growth. Kaiyuan Securities pointed out that the December account openings showed a month-on-month decline but remained high year-on-year, and attention should be paid to the increase in market trading volume and Turnover Ratio. The firm stated that traditional Brokerage valuations remain low and have not fully reflected the expected profit improvement for 2024 and 2025, while January 2025's announcements of 2024 earnings forecasts by Brokerages may act as a catalyst for the Sector.