Movement Alert｜CICC Falls 3.11% in Regular Trading, Profit-Taking After Prior Rally Combined with Brokerage Sector Weakness

Market Focus06-24

On June 24, China International Capital Corporation (CICC) fell 3.11% in regular trading, trading at HK$20.54/share, with turnover of HK$75.28 million.

On the news front, CICC had surged over 4% in the prior session, triggering clear profit-taking among investors. The company's application to absorb and merge Dongxing Securities and Cinda Securities via share swap was formally accepted by the Shanghai Stock Exchange on June 12 and is currently under regulatory review. Upon completion, CICC's total assets will surpass the one-trillion-yuan threshold, with revenue rising from RMB 28.5 billion to RMB 37.2 billion, elevating its industry ranking to third place.

At the sector level, brokerage stocks broadly weakened, with GF Securities down 4.13%, CITIC Securities down 3.29%, and CMSC down 1.26%, amplifying selling pressure on CICC. UBS recently highlighted multiple policy tailwinds for the Chinese brokerage sector and named CICC as a top pick, citing strong Q2 earnings prospects, though near-term technical selling continues to dominate trading.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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