On July 17, China International Capital Corporation (CICC) fell 3.08% in regular trading, trading at 21.44 HKD/share, with turnover of approximately 80.82 million HKD.
The decline represents a technical pullback following a sharp rally on July 15, when CICC surged over 5% in Hong Kong after announcing that the CSRC had formally accepted its landmark three-in-one merger application to absorb Dongxing Securities and Cinda Securities via share swap. The A-share counterpart already retreated 4.93% on July 16, and the Hong Kong-listed shares are now extending that correction. Broader market weakness, with the Shanghai Composite breaking multiple key levels and risk appetite retreating, has added further pressure on brokerage stocks.
The merger, which would elevate CICC to the third-largest Chinese brokerage by revenue with assets exceeding one trillion yuan, remains subject to regulatory approval. Meanwhile, CICC forecast H1 net profit of 7.71-8.23 billion yuan, representing 78%-90% year-over-year growth, driven by six core business lines and international operations.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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