CITIC Securities: More high-quality leading companies listing in Hong Kong may become a catalyst for A-share market to re-focus on core assets.

CITIC Securities stated that the current wave of A-share companies listing in Hong Kong is driven by three forces: the strategy of going overseas, institutional convenience, and an improvement in the liquidity of Hong Kong stocks. After high-quality core assets are listed on the Hong Kong stock market, there could be short-term active trading corresponding to A shares, and the pricing power of some core assets may gradually shift south.