HK Stock Market Move | Chinese securities companies' stocks fell further in the afternoon, with China Securities Co., Ltd. (06066) dropping nearly 6% and CITIC SEC (06030) falling more than 3%.

Chinese-funded securities firms saw their afternoon decline widened. As of the time of writing, China Securities Co., Ltd. (06066) fell by 5.9% to 10.84 Hong Kong dollars; Huatai (06886) fell by 5.53% to 14.34 Hong Kong dollars; GF SEC (01776) fell by 4.42% to 12.1 Hong Kong dollars; CITIC SEC (06030) fell by 3.08% to 23.6 Hong Kong dollars. Caitong pointed out that Guotai Junan, Haitong, Western and Guorong Securities' merger and acquisition restructuring have all made new progress, accelerating the industry consolidation process. At the same time, the appointment of general managers for CITIC SEC and China Securities Co., Ltd. has sparked market imagination about mergers, further heating up the securities sector. The current prosperity of the equity market has significantly improved, with market turnover continuing to maintain a high level at around 2 trillion. It is expected to continue to drive the return of securities firms' performance to the growth range. Huaan recently released a strategy report stating that the National People's Congress Standing Committee, the US presidential election, and the November US interest rate meeting are all in line with market expectations. Subsequent expectations are expected to gradually converge, and the market is expected to return to calm, focusing on fundamentals and a new round of policies. The strong performance of the non-banking financial industry this week is partly due to the enthusiastic market trading combined with catalyzing securities mergers leading the securities sector. In addition, other sectors such as insurance have also followed suit. Looking ahead in the short term, in terms of the securities sector, the market heat is likely to cool down, although securities mergers will continue to occur, making it difficult to seize securities opportunities.