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Hong Kong stocks movement | China-Affiliated Brokerages collectively rise as Institutions state that mergers and acquisitions in the brokerage industry remain a configuration direction, and the high growth trend in performance for the first half of the ye
China-Affiliated Brokerage stocks collectively rose. As of the time of writing, China International Capital Corporation (03908) increased by 4.2%, reaching HKD 15.86; China Merchants (06099) rose by 4.1%, reaching HKD 15.2; CSC (06066) climbed by 3.8%, reaching HKD 10.38; GTJA (02611) rose by 3.68%, reaching HKD 12.96; China Galaxy (06881) increased by 3.44%, reaching HKD 8.41.
Hong Kong stock movement | China-Affiliated Brokerage stocks surged in the morning, China Galaxy (06881) rose over 6%, and China International Capital Corporation (03908) rose over 4%.
China-Affiliated Brokerage stocks rose in the morning. As of the time of writing, China Galaxy (06881) increased by 6.08%, priced at 8.38 Hong Kong dollars; China International Capital Corporation (03908) rose by 4.2%, priced at 15.38 Hong Kong dollars; China Merchants (06099) climbed by 3.31%, priced at 14.96 Hong Kong dollars; CITIC SEC (06030) increased by 2.48%, priced at 22.75 Hong Kong dollars.
CICC: Maintain ZA ONLINE "Outperform Industry" rating and raise Target Price to 16 HKD.
China International Capital Corporation released a Research Report indicating that it maintains a " outperform the Industry" rating for ZA ONLINE (06060) and raises the Target Price by 6.7% to 16 HKD. The bank stated that it basically keeps the 2025 parent Net income forecast unchanged, while introducing the 2026 forecast of 1.26 billion yuan. ZA ONLINE will disclose its full-year performance for 2024 on March 19, expecting the company's comprehensive cost ratio (CoR) to decrease by 0.7 percentage points year-on-year to 97.8%, and the adjusted Net income (2023 adjusted Net income excluding one-time investment income) to increase by 76% year-on-year to 0.51 billion yuan. The profit recovery space for 2025 remains considerable, paying attention to its healthy ecological development.
The pilot program for insurance funds to invest in Gold has started, bringing new demand to the Gold market.
Recently, the National Financial Supervision Administration issued a notice on conducting pilot projects for Insurance funds investment in Gold, clarifying that 10 pilot insurance companies can engage in Gold investment pilot projects for the purpose of medium- and long-term Asset allocation. Analysts believe that from a necessity standpoint, Institutions engaging in Gold investment can, on one hand, enrich Insurance investment portfolios, diversify investment risks, and stabilize investment returns, which is beneficial in addressing the challenges posed by a low-interest-rate environment on Asset allocation; and on the other hand, it is conducive to improving the liquidity of the domestic Gold trading market, indirectly creating favorable conditions for the internationalization of the renminbi. Regarding feasibility, the good liquidity of the Gold market in China...
[Brokerage Focus] CITIC SEC: Coordinating market investment and financing reforms, gradually moving towards the new normal of IPOs.
Jingwu Financial News | CITIC SEC stated that the normalization of IPOs is not only a reform direction that aligns with the balance of investment and financing but also an essential role of the Capital Markets in serving the real economy. The long-term returns of the Stocks market cannot rely solely on abundant liquidity; introducing high-quality growth companies through IPOs is the foundation for the market's long-term stability. Given the ample liquidity levels in the A-share market in the past five months, under the condition of no relaxation of listing standards, a moderate increase in IPO supply will not burden the market. The firm expects that with the active drive of IPOs in the mainland and Hong Kong markets, the Huaan CSI All Share Investment Banking & industry is likely to benefit from its light-asset investment banking Business and high ROE business characteristics.
【Special Contributor】Deng Shengxing: The macroeconomic outlook is uncertain, with Hong Kong stocks hovering around 23,000.
Jinwu Financial News | The Hang Seng Index closed at 23,718 on Thursday (the 27th), down 69 points or 0.3%. The total market turnover for the day was 406.4 billion yuan. The National Index fell 0.7%, closing at 8,734; the Technology Index dropped 1.2%, closing at 5,881. CITIC Securities (03908) and China Galaxy (06881) denied rumors of a merger, with their stock prices both declining, leading to a counter-trend drop in Mainland Brokerage stocks. Mainland Real Estate stocks generally performed well. Blue chip Longfor (00960) rose by 4.5%; China Overseas (00688) increased by 0.5%; the Dow Jones closed at 43,239 points on Thursday (the 27th), down 193 points or 0.45%; the S&P Index
