Market Insight | Chinese brokerage stocks continue to decline, with CMSC plummeting by 11% and CITIC SEC dropping nearly 8%
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Chinese brokerage stocks continue to decline, with CMSC plummeting by 11% to HKD 11.88, and CITIC SEC dropping nearly 8% to HKD 19.4. Analysis indicates that the overall valuation of brokerage firms is affected by financial regulations and a sluggish market, leading to weakened profitability. Despite short-term adjustments, loose monetary and countercyclical fiscal policies are expected to support the long-term strength of brokerage firms, with improved performance in the third quarter also bringing optimistic expectations
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