HK Stock Market Move | Chinese securities firms' stocks rose in the afternoon, stable coin theme driving securities firms' increase. It is expected that the strong momentum of securities firms in the interim report will continue.

Chinese-funded securities firms' stocks rose in the afternoon, as of the time of writing, Soho Holly Futures (03678) increased by 9.91% to 4.99 Hong Kong dollars; China Galaxy (06881) rose by 3.04% to 8.97 Hong Kong dollars; Shenwan Hongyuan Group (06806) rose by 3.04% to 2.71 Hong Kong dollars; CITIC SEC (06030) rose by 2.71% to 24.65 Hong Kong dollars. Guotai Haitong indicated that there will be more Hong Kong securities firms entering the virtual asset business in the future. In addition, as the market gradually enters the earnings season, securities firms are expected to outperform expectations in terms of profits. Against the backdrop of a stable stock market, there continues to be opportunities to recommend undervalued and underweighted heavyweight stocks. Non-bank financial stocks are shifting their focus from "marginal thinking of fundamentals" to "total thinking of risk-return ratio." Especially under the recent policies encouraging red-chip and H-share companies to return to A-shares, Hong Kong's non-bank financial stocks stand to benefit more. Kaiyuan Securities pointed out that trading volume continued to rise in June, and with the influence of the stablecoin theme, the securities sector rose significantly by 7.62% last week. Looking ahead, with high trading activity, improvements in the bond market in the second quarter, and a significant improvement in domestic and overseas IPOs, securities firms are expected to continue with high prosperity in the interim reports. Valuations and institutional allocations are still low, indicating a favorable opportunity in the securities sector. It is optimistic about three stock selection themes: retail, overseas, and financial technology.