Core Viewpoint - The A-share market is experiencing a strong upward trend, particularly in the brokerage sector, driven by regulatory approvals and increased liquidity in the market [1][2]. Group 1: Market Performance - The three major A-share indices showed significant gains today, with the brokerage sector continuing to rise in the afternoon [1]. - The largest securities ETF in the Shenzhen market (159841) saw an intraday increase of over 4.4% [1]. Group 2: Regulatory Developments - On June 24, Guotai Junan International Holdings received approval from the Hong Kong Securities and Futures Commission to upgrade its existing securities trading license to include virtual asset trading services [1]. - This upgrade allows clients to trade cryptocurrencies (such as Bitcoin and Ethereum) and stablecoins (like Tether) directly on the Guotai Junan platform [1]. Group 3: Industry Trends - The strategic commitment of Hong Kong to develop virtual assets is clear, leveraging mature financial infrastructure and an international regulatory framework [1]. - Since September 24 of last year, the A-share market has benefited from supportive policies, leading to ample liquidity and a strong willingness for capital to enter the market, which has supported the recovery of brokerage sector performance [1]. - In the first quarter, nearly 80% of brokerages reported a year-on-year increase in total operating revenue, and nearly 90% reported a year-on-year increase in net profit attributable to shareholders [1]. Group 4: Mergers and Acquisitions - The securities industry has seen a surge in merger and acquisition activity in 2024, with notable cases such as "Guolian + Minsheng," "Zhejiang + Guodu," and "Ping An + Fangzheng," reflecting regulatory guidance towards increased industry concentration [2]. - Recent mergers, such as Guosen Securities acquiring Wanhua Securities and Guosheng Financial's absorption of Guosheng Securities, indicate a trend towards "strong alliances" or "regional collaboration" within the industry [2]. Group 5: Investment Opportunities - The securities ETF (159841) has seen both volume and price increase, reaching a three-month high today, indicating strong market interest [2]. - Investors can also access the brokerage sector's upward potential through securities ETF linked funds (Class A 008590; Class C 008591) [2].
“牛市旗手”迎重磅利好！证券ETF（159841）大涨超4.4%，国泰君安国际获批虚拟资产交易服务，券商估值想象空间打开