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CN Brokers Elevate as Broker Says CN Margin Balance Climbs w/ Continued Recovery Across Businesses
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Chinese brokers elevated, with CITIC SEC (06030.HK) advancing 5.6% to $30.92. CICC (03908.HK) swelled 7.4%, while CSC (06066.HK) shot up 8.4%. CGS (06881.HK) and CC SECURITIES (01375.HK) rallied 8.1% and 8.7%. Yesterday (14th), the turnover of the A-share market climbed to RMB2.3 trillion, while the margin balance simultaneously exceeded RMB2 trillion, according to Cailian Press. This marks the second consecutive trading day since 13 August that the A-share market has recorded both turnover and margin balance exceeding RMB2 trillion. Mainland China's margin balance inclined and brokers' various businesses continued to recover, Shanxi Securities issued a report yesterday saying. As of 8 August, mainland China's margin balance reached RMB2.01 trillion, breaking through the RMB2 trillion mark for the first time since 2015. The average daily turnover for the week reached RMB1.7 trillion. Securities companies' wealth management and proprietary investment businesses grew as market risk appetite increased. New rules for Hong Kong IPO pricing took effect. On 4 August, HKEX (00388.HK) officially implemented new rules to optimize IPO market pricing and public market regulations. AAStocks Financial News Website: www.aastocks.com |
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