HK Stock Market Move | Chinese brokerage stocks collectively surge as the central bank creates swap convenience tools to support the stock market. The Securities Regulatory Commission supports the merger and reorganization of listed securities companies.

Chinese brokerage stocks collectively surged, as of the time of writing, CICC (03908) rose by 6.14% to 10.02 Hong Kong dollars; CITIC SEC (06030) rose by 5.69% to 14.12 Hong Kong dollars; China Securities Co., Ltd. (06066) rose by 4.87% to 6.24 Hong Kong dollars; Shenwan Hongyuan Group (06806) rose by 4.67% to 1.57 Hong Kong dollars; Huatai (06886) rose by 4.47% to 9.57 Hong Kong dollars. On the news front, on September 24th, the central bank announced the establishment of a convenient exchange mechanism for securities, funds, and insurance companies to support qualified companies in obtaining liquidity from the central bank through asset pledging. People's Bank of China Governor Yi Gang stated that the initial scale of the securities, funds, and insurance companies exchange convenience is 500 billion, and the funds obtained can only be used for investment in the stock market. At the same time, the central bank will establish a special re-lending facility for stock repurchase and holding, guiding banks to provide loans to listed companies and major shareholders to support repurchase and holding of stocks. In addition, on September 24th, the China Securities Regulatory Commission issued the "Opinions on Deepening the Reform of the Merger and Acquisition Market of Listed Companies," guiding securities companies to increase their investment in financial advisory services, fully play their role in transaction matching, and actively promote merger and acquisition transactions. Regularly publish excellent merger and acquisition cases, playing a demonstrative and leading role. Strengthen the role of the "conductor" in the classification evaluation of securities companies, increase the weight of the evaluation of financial advisory services, and refine the evaluation criteria. Supervise intermediary institutions such as financial advisors, accounting firms, law firms, and evaluation agencies to fulfill their responsibilities and improve the quality of practice. Support listed securities companies in enhancing their core competitiveness through merger and acquisition to accelerate the construction of a first-class investment bank.