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A-share brokerage firms surged, while Hong Kong brokerage firms plummeted, the two markets moved in opposite directions, has the premium logic failed?
①17 Hong Kong brokerage stocks collectively fell, with an average decline of 20.81%; ② 48 ah stocks brokerage stocks collectively hit the limit up, with a morning trading volume of 108.951 billion yuan; ③ The premium rate of AH stocks, which had already narrowed, expanded again, with 8 stocks having a premium rate close to or exceeding 100%.
Swhy maintains a "buy" rating on New Oriental-S with a target price of 85.6 Hong Kong dollars.
Swhy released a research report stating that it maintains a "buy" rating for New Oriental-S (09901), expecting the Non-GAAP operating profit margin to expand by 2 percentage points year-on-year to 24.3% in 1QFY25. It maintains the Non-GAAP attributable net income forecast for fiscal years 25/26/27 at 493 million/672 million/891 million US dollars, with a target price of 85.6 Hong Kong dollars. Due to the industry still being in a boom cycle, despite the company's rapid expansion of teaching locations, benefiting from the tight supply and demand pattern, the company's education business profit margin continues to expand. Investment highlights: The bank expects the first fiscal year of New Oriental in 2025.
Stock market anomaly | Stocks with high AH premium are sought after. Holly Futures (03678) surged over 50%, while Zhejiang Shibao (01057) surged nearly 40%.
AH premium stocks are popular today with fund inflows. As of the time of publication, holly futures (03678) rose by 41.85% to HKD 5.22; zhejiang shibao (01057) rose by 39.01% to HKD 4.49; jingcheng mac (00187) rose by 25.38% to HKD 3.26; swhy (06806) rose by 30.3% to HKD 4.3.
Trending Stocks Today: BRAINHOLE TECH Shoots up 275.93%
Trending Stocks Today: SINCEREWATCH HK Shoots up 72.72%
Sudden Change: China-affiliated brokerage stocks surged across the board, with Swhy rising nearly 24%, significantly boosting market sentiment and driving brokerage business.
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.
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