Bank of America rose 1.1%, as high U.S. interest rates are beneficial for net interest margins, making the major banks the steadiest in this group today. Tiger Securities fell 2.4%, and Emperor Securities fell 1.8%. If Hong Kong stock brokerage trading volume declines, it will directly pressure commission income. Chinese concept brokerages were dragged down by Hong Kong market sentiment today. Yunfeng Financial fell 1.9%. As a small Hong Kong-listed investment management company, it follows the sentiment of Chinese concept stocks and had no independent logic today.
The stratification between U.S. major banks and Hong Kong stock brokerages was quite evident today, each operating within their own narratives 😔
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