On May 28, Bright Smart Securities fell 5.77% in regular trading, trading at HKD 9.0/share, with trading volume of HKD 83.65 million. The decline came as regulatory pressure on cross-border securities activities intensified further.
The Hong Kong Monetary Authority issued three additional regulatory measures targeting mainland investors' investment accounts. The measures include: closing accounts opened using suspicious or forged documents with reviews backdating to January 2023; closing zero-balance dormant investment accounts held by mainland investors with no client-initiated activity in the preceding 12 months; and requiring written declarations from mainland investors that all funds supporting investment activities originate from lawful sources outside mainland China. These measures follow the eight-department joint crackdown announced on May 22 that imposed penalties on Futu, Tiger, and Longbridge for illegal cross-border operations.
Within the Investment Banking and Brokerage sector, the overall sector traded lower. Among individual stocks, CICC down 4.51%, HTSC down 2.15%, CGS down 4.05%, Guotai Junan International down 4.15%, CITIC Securities down 3.19%.
(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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