HK Stock Market Move | Chinese securities firms saw their stocks rise against the market trend in the second quarter, as the expansion of IPOs accelerated. Securities firms, investment banks, and the entire investment chain benefited from this.

Chinese securities companies' stocks rose against the market, as of the time of writing, CITIC SEC(06030) rose 3.53% to 28.14 Hong Kong dollars; GF SEC(01776) rose 3.13% to 17.44 Hong Kong dollars; CICC(03908) rose 1.44% to 21.1 Hong Kong dollars; Guotai Haitong(02611) rose 1.41% to 15.1 Hong Kong dollars. On the news front, data disclosed by the Shanghai Stock Exchange at the beginning of June showed that the number of new A-share accounts in May was 2.7653 million, an increase of 77.76% year-on-year and 11% month-on-month; as of June 12, the average daily trading volume of A shares in 2026 was 32 trillion yuan, an increase of 98.4% year-on-year. The total financing scale of A-share IPOs in April-May reached 32.3 billion yuan, an increase of 25% from the first quarter's total of 25.9 billion yuan. The expansion of IPOs in the second quarter is accelerating, benefiting securities firms' investment banking and investment chain. Guotai Securities released a research report, stating that the pressure on the funding side in the second quarter is expected to be relieved, the resumption of refinancing, the expansion of IPOs is good for the profitability of securities investment banking and investment chain, and the second-quarter performance of securities firms is expected to continue to exceed expectations. Focus on the continuous improvement of the ROE of securities firms under the three major long-term narratives: the historical opportunity of wealth management under deposit migration, the overseas expansion under cross-border demand, and the launch of investment banking and investment business under the wave of technology. Pay attention to the catalysts of the funding side and mid-year report previews.