According to the Zhixin Finance app, China-affiliated brokerage stocks rebounded today, as of the time of publication, China Merchants Securities (06099) rose by 3.94% to HKD 14.78; Swhy (06806) rose by 2.43% to HKD 2.53; CSC (06066) rose by 1.96% to HKD 10.4; China International Capital Corporation (03908) rose by 1.15% to HKD 14.04.

On the news front, Wu Qing, the Chairman of the China Securities Regulatory Commission, stated at the 10th anniversary summit of the Hong Kong Stock Exchange's mutual market access that the CSRC is accelerating the promotion of a new round of comprehensive capital market reform and opening up. In terms of market opening and facilitation of cross-border investment and financing, more pragmatic measures will be introduced.

GTJA stated that the continuous improvement in market liquidity is bullish for the brokerage sector, and recommends increasing shareholdings in leading brokerages with merger and acquisition expectations. Citic Securities released research reports stating that in the current environment of improving liquidity and policy shifts, the securities sector is expected to achieve significant improvements in fundamentals on both a sequential and year-on-year basis, leveraging advantages of high trading volume, large margin scale, and low performance base. Combined with the current valuation levels, there is still room for industry valuation to rise.