Movement Alert|CICC Rises 3.47% in Regular Trading, International Banks Name It Top Pick as Brokerage Sector Rallies

Market Focus06-30 09:43

On June 30, CICC (China International Capital Corporation) rose 3.47% in regular trading, trading at HK$21.22/share, with turnover of HK$54.23 million.

On the news front, JPMorgan recently published a research report explicitly favoring brokerages over domestic banks, naming CICC as its top pick. UBS had also previously designated CICC as its preferred brokerage sector stock, citing optimism for its Q2 earnings outlook. Additionally, the company's application to absorb and merge with Dongxing Securities and Cinda Securities via share swap has been formally accepted by the Shanghai Stock Exchange. Upon completion, the combined entity's total assets will surpass the one-trillion-yuan threshold, elevating its industry ranking to third place. The ongoing restructuring review process constitutes a medium-term catalyst.

At the sector level, brokerage stocks extended their rally broadly, with GF Securities up 3.0%, Guotai Junan Hong Tai up 2.41%, CITIC Securities up 1.9%, and China Securities up 2.9%, reflecting industry-wide capital inflows supporting CICC's technical recovery.

(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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