HK Stock Market Move | The decline in Chinese securities firms' stocks further widened, with CMSC (06099) falling by more than 7% and China Securities Co., Ltd. (06066) falling by more than 5%.

Chinese-funded securities companies' stock prices continued to decline, with CMSC (06099) falling 7.1% to HK$14.14, China Securities Co.,Ltd. (06066) falling 5.25% to HK$10.1, CITIC SEC (06030) falling 5.21% to HK$21.85, Huatai (06886) falling 4.71% to HK$13.34, and GF SEC (01776) falling 3.98% to HK$11.1. Huaan recently pointed out that the actions of the National People's Congress Standing Committee, the U.S. presidential election, and the November Federal Reserve meeting are in line with market expectations, and future expectations are expected to gradually converge. The market is expected to return to calm, focusing on fundamentals and new policy trends. The bank noted that last week, the non-banking financial industry outperformed, partly due to the active market trading and the catalyzing effect of securities mergers, with the securities sector leading the gains. Additionally, other sectors like insurance also saw gains. Looking ahead in the short term, the market excitement in the securities sector is likely to cool off, although securities mergers will still occur, making it challenging to seize opportunities in the securities industry.