HK Stock Market Move | BRIGHT SMART (01428) rose more than 9% in the afternoon and the company is expected to become a cross-border wealth management platform for the Internet.

BRIGHT SMART (01428) rose in the afternoon and increased by 5.25% to HK$12.42 by the time of publication, with a turnover of HK$12.06 billion. In terms of news, BRIGHT SMART previously announced that the tender offer initiated by Ant Group has been approved by relevant Chinese authorities and is expected to be completed on March 30. Huayuan Securities pointed out that the combination of Yaozhi Securities' local customer resources and financial license in Hong Kong, together with Ant's technological and traffic advantages, is expected to create a differentiated competitive advantage in "Internet technology + wealth management", which may promote the digitization transformation and technological investment of the entire wealth management industry in the mid-term. It is worth noting that on March 6, the Shanghai and Shenzhen Stock Exchanges issued a notice regarding the adjustment of the list of stocks eligible for the Hong Kong stock connect program, and BRIGHT SMART was included in the list. After being included in the Hong Kong stock connect, funds can trade BRIGHT SMART through the Hong Kong stock connect channel, which is expected to expand the potential investor base for the stock and affect liquidity and capital structure.