HK Stock Market Move | Chinese securities firms' stocks rose in the morning. The Shanghai Lujiazui Finance & Trade Zone Forum released multiple policy dividends. It is expected that the mid-year reports of securities firms will continue to show high prosperity.

Chinese-funded securities companies' stocks rose in the morning, as of the time of this report, GF SEC (01776) rose by 6.49% to 18.04 Hong Kong dollars; CITIC SEC (06030) rose by 5.99% to 28.32 Hong Kong dollars; CMSC (06099) rose by 4.37% to 17.43 Hong Kong dollars; CICC (03908) rose by 4.27% to 21 Hong Kong dollars. On the news front, the Shanghai Lujiazui Finance & Trade Zone Development Forum released multiple policy dividends. Western stated that the investment and financing reform further strengthened the new productive forces of capital market services, and the expansion of innovative products such as active ETFs and REITs is beneficial for securities wealth management and asset management businesses. Under the promotion of openness and product innovation, the industry structure is expected to accelerate optimization. Currently, there is a clear mismatch between the profits and valuations of the securities sector, and it is recommended to seize the opportunity for a left-side layout. Open Source Securities also stated that the market trading activity continued to be active in the second quarter, with a significant expansion of IPOs and the rise of technology stocks benefiting the first and second-tier investment business. The mid-year reports of securities companies are expected to continue to be in a high prosperity, with the relief of funding pressure. Key recommendations include the top securities firms: Huatai, Guotai Haitong, and CITIC SEC, which are comprehensive, overseas, and wealth three-line securities firms with low valuations. GF SEC and CICCH are also recommended.