Group 1 - Chinese brokerage stocks experienced significant declines in the afternoon, with Shenwan Hongyuan down 5.44% to HKD 3.3, Dongfang Securities down 5.29% to HKD 7.87, CITIC Securities down 4.3% to HKD 28.9, and CITIC Jiantou down 4.63% to HKD 14.02 [1] - The Shanghai Composite Index recently reached a ten-year high, with trading volume exceeding CNY 3 trillion, indicating strong market sentiment [1] - Huaxi Securities noted that the surge in market volume reflects positive investor sentiment, while a significant rise in implied volatility signals increased speculative activity [1] Group 2 - JPMorgan's report highlighted that the bullish narrative among retail investors is gaining traction, yet the valuation of the securities industry remains significantly lower than the peak levels seen during the 2015 bull market [1] - The market's upward trend is expected to strengthen further, supported by moderate leverage levels and reasonable valuations [1] - JPMorgan recommends that investors increase market risk exposure through brokerage firms [1]
港股异动 | 中资券商股午后跌幅扩大 市场投机热度近期快速上升 小摩称券商估值低于15年高峰