HK Stock Market Move | Chinese brokerage stocks collectively rose, CICC (03908) rose over 4%, and CMSC (06099) rose over 3%.

Chinese-funded securities firms' stocks collectively rose, as of the deadline, CICC (03908) rose by 4.06% to HKD 23.58; CMSC (06099) rose by 3.7% to HKD 16.8; Orient (03958) rose by 3.75% to HKD 8.03; China Galaxy (06881) rose by 3.73% to HKD 12.24. On the news front, securities firms have successively disclosed their third-quarter reports. CITIC SEC achieved operating income of RMB 22.78 billion in the third quarter, a year-on-year increase of 55.7% and a quarter-on-quarter increase of 49.1%. Net profit attributable to shareholders reached RMB 9.44 billion, a year-on-year increase of 51.5% and a quarter-on-quarter increase of 31.6%. East Money Information achieved total operating income of RMB 4.7 billion in the third quarter, a year-on-year increase of 101%, with net profit attributable to shareholders reaching RMB 3.5 billion, a year-on-year increase of 78%. In addition, the 2025 Financial Street Holdings Forum Annual Meeting will be held from October 27 to 30 at the Financial Street Holdings in Beijing. Pan Gongsheng, Governor of the People's Bank of China, Li Yunze, Director of the China Banking and Insurance Regulatory Commission, and Wu Qing, Chairman of the China Securities Regulatory Commission, will attend the annual meeting and deliver keynote speeches. CSCI Securities pointed out that with the expansion of the capital market and the increase in trading activity, the securities sector is currently facing an important strategic opportunity for configuration. The market value of A-shares has exceeded RMB 100 trillion, providing broad long-term growth space for various business lines of securities firms. Market trading activity has significantly improved, with the average daily trading volume in the first three quarters of the market seeing a substantial year-on-year increase. The continuous increase in margin financing balances has strengthened the performance certainty of the securities sector. The momentum of active market trading is expected to continue, providing solid support for the sustained growth of securities firms' performance. Looking ahead for the whole year, the capital market is expected to maintain a steady upward trend, and the sustainability of earnings growth is expected to strengthen, with the sector having potential for valuation recovery.