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【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
【Brokerage Focus】GTJA: The Brokerage Sector is expected to see a double increase in profitability and valuation.
Jinwu Financial News | GTJA indicates that the recovery and improvement of the Capital Markets, combined with a low base, is expected to lead to better-than-expected fundamental improvements. In 2025, the new 'Nine Policies' will serve as the core of the '1+N' policy framework, entering a period of implementation overall, with a clear policy framework for medium- and long-term funds entering the market. More incremental policies are expected to be continuously introduced, leading to a sustained recovery and improvement in the Capital Markets, which is bullish for the fundamental and valuation repair of the Brokerage Sector. In the first quarter of 2024, extreme market volatility impacted the profitability of the Brokerage's investment business, leading to pressure on the Sector's earnings. From the current point of view, the recovery and improvement of the Capital Markets are expected to drive growth in retail and institutional business for Brokerages, bringing positive outcomes.
A CICC and China Galaxy Securities Merger Plausible Long Term -- Market Talk
China International Capital and China Galaxy both denied merger rumors, and their stock prices fell collectively.
Jinwu Financial News | China International Capital Corporation and China Galaxy both deny merger rumors, resulting in a collective drop in their stock prices. China Galaxy (06881) dropped by 7.31%, while China International Capital Corporation (03908) fell by 6.54%. China International Capital Corporation issued a statement indicating that the company is aware of market rumors suggesting a merger with China Galaxy Securities Co., Ltd. The company has not received any written or verbal information regarding the aforementioned rumors from government departments, regulatory institutions, or its shareholders. After confirmation with the company's controlling shareholder, Central Huijin Investment, it was determined that the controlling shareholder is not planning the matters referred to in the rumors or any other information that should be disclosed regarding the company.
【Special Commentator】Deng Shengxing: Benefiting from the AI boom, Hong Kong stocks continue to rise.
Jinwu Financial News | The Hang Seng Index closed at 23,787 on Wednesday (26th), rising by 753 points or 3.3%. The total market turnover for the day reached 370.1 billion yuan. The National Index rose by 3.5%, closing at 8,792; the Technology Index surged by 4.5%, closing at 5,953. It was reported that mainland Brokerage Zhongjin (03908) will merge with China Galaxy Securities (06881), surging by 19.1% and 17.1% respectively throughout the day; economic data from the USA was disappointing, raising concerns about the unclear outlook for Crude Oil Product demand, which led to international oil prices falling over 2% on Tuesday, hitting a multi-week low, while Petroleum stocks also fell against the trend. The Dow Jones index closed at 43,433 points on Wednesday (26th).
Why did Zhongjin and Silver once again become the "main characters of rumors" after the overnight announcement denying the merger?
"The truth and falsehood of 'stock swap mergers.'"
