每经编辑｜毕陆名 6月9日上午，A股指数再度走强，沪指盘中涨近0.4%，一度重返3400点，创业板指涨超1.5%。医药、稀土永磁、军 工、固态电池等方向涨幅居前，沪深京三市上涨个股3800只。 早盘，大金融板块震荡拉升，券商板块短线快速拉升，信达证券盘中涨停，东兴证券、中国银河、光大证券等涨幅居 前。 | く 財富 | | 券商概念1 1067.93 1.96% | | 0 | Q | | --- | --- | --- | --- | --- | --- | | 成份股 | 资金 | 关联基金 | 必读 | 股幅 | 资讯 | | 全部市场 (55) × | | 自选 | 龙头 (7) | 几天几板(1) | 连续 | | ◎ 隐藏简介 | | 最新 | 涨幅↓ | | 涨跌 | | 信达证券 601059 註 | | 16.04 | 10.01% | | 1.46 | 港股开盘，恒生指数和恒生科技指数均高开。截至发稿，恒生指数涨近1.5%，恒生科技指数涨超3%。 中国稀土盘中涨幅扩大至20%。被市场热捧的"港股三宝"——老铺黄金下跌2.6%，蜜雪集团涨超9%，泡泡玛特涨 1.6%。中芯国际、美团、腾讯音乐 ...

Group 1: Market Performance - The innovative drug and rare earth permanent magnet sectors are leading in gains, with over 3,900 stocks in the market rising [1] - The financial sector, particularly brokerage firms, experienced a rapid increase, with notable gains in stocks like Xinda Securities, Dongxing Securities, and China Galaxy [3][5] Group 2: Brokerage Sector Developments - Xinda Securities reached a trading limit, with a 10.01% increase, while other firms like Dongxing Securities and China Galaxy also saw significant gains [6] - The China Securities Regulatory Commission approved the change of actual controllers for several brokerage firms to Central Huijin, marking a step towards further industry consolidation [7] - Analysts suggest that the restructuring within the "Huijin system" may lead to a new wave of mergers and acquisitions in the brokerage sector, enhancing market confidence and investment attractiveness [7] Group 3: Innovative Drug Sector Highlights - The innovative drug concept continues to break through, with significant gains in related ETFs in the Hong Kong market, such as the Hang Seng Medical ETF and the innovative drug ETF [9][10] - The recent ASCO annual meeting showcased a record number of Chinese research abstracts, indicating strong performance and breakthroughs in domestic innovative drug companies [10] Group 4: Rare Earth Sector Insights - The rare earth sector saw a substantial increase of over 38%, driven by export control measures announced by the Ministry of Commerce [11][14] - The Hong Kong market has been active, with increased investment from mainland public funds, particularly in the new consumption sector, which is expected to perform well [14]

港股中资券商股盘初走强，弘业期货(03678.HK)涨超7%，光大证券(06178.HK)涨超5%，中国银河 (06881.HK)、中信证券(06030.HK)涨近4%，广发证券(01776.HK)涨超3.5%。 ...

暗盘资金一眼洞悉庄家意图>> 券商股异动拉升，信达证券（601059）涨停，东兴证券、中国银河（601881）、光大证券（601788）、 锦龙股份（000712）、中金公司（601995）等跟涨。 ...

Group 1 - The IPO underwriting business of securities firms shows significant recovery in 2025, with a stable issuance pace in the A-share market after a sluggish 2024. As of June 8, 45 A-share companies were sponsored for IPOs, a year-on-year increase of approximately 12.5%. The total amount raised from IPOs reached 33.655 billion yuan, a year-on-year increase of about 19% [1] - The Hong Kong IPO market has performed exceptionally well, with a fundraising scale that increased by over 700% year-on-year in the first five months, providing significant incremental business for securities firms [1][4] Group 2 - The competitive landscape among leading securities firms remains evident, with "two among one Hu" pattern firmly established. CITIC Securities leads with an IPO underwriting amount of 7.918 billion yuan, followed by Huatai United Securities and CITIC Securities with 3.034 billion yuan and 2.674 billion yuan, respectively [3] - In terms of underwriting quantity, Guotai Junan and CITIC Securities each underwrote six projects, with Guotai Junan having one joint underwriting and CITIC Securities three joint underwritings. Shenwan Hongyuan ranked third with five IPOs underwritten [3] - The largest two A-share IPOs this year, sponsored by CITIC Securities, raised 4.066 billion yuan and 3.740 billion yuan, respectively [3] Group 3 - The Hong Kong IPO market has become a new engine for performance growth, with a total fundraising of 77.36 billion HKD in the first five months, reflecting a year-on-year increase of 707.2%. Notable A-share companies like CATL and Hansoh Pharmaceutical achieved record IPOs in Hong Kong [4] - More than half of the sponsoring institutions in the Hong Kong IPO market are Chinese securities firms, showcasing their competitive advantage in cross-border business. CICC Hong Kong sponsored eight companies, followed by Huatai International with six [4] - Multiple factors, including policy optimization, changes in funding structure, and the restructuring of international geopolitical relations, have driven the sustained activity in the Hong Kong IPO market [4]

每经记者｜吴永久 每经编辑｜闫峰峰 本周末的重要消息有：一是，美国5月非农数据好于预期；二是中美经贸磋商机制首次会议将举行。 周五，美股在5月非农数据好于预期的刺激下，大幅高开，随后明显回落，在贸易谈判消息刺激下，又涨了回去。 在每日经济新闻App举办的掘金大赛第62期比赛中，目前已经进行了4天，参赛选手们跑步入场。目前上证指数面临3400点的压力，后市行情如何走？未 来的主线有哪些？一些参赛高手分享了观点。 大赛为模拟炒股，模拟资金50万元。第62期比赛报名时间为5月31日到6月13日，比赛时间为6月3日到6月13日。正收益就获奖，报名就拿福利！周周发奖 金，月月有大奖！ 每期比赛的税前现金奖励为：第1名奖励688元，第2~4名奖励188元/人，第5~10名奖励88元/人，其余正收益选手均分500元正收益奖。月度积分王的税前 现金奖励为：第1名奖励888元，第2~4名奖励288元/人，第5~10名奖励188元/人，第11~30名奖励68元/人，第31~100名奖励18元/人。 上证指数或将迎来主升浪？高手看好这些主线 消息面上，6月6日，美国劳工统计局公布的数据显示，就业人数增加13.9万人，虽然创2月以来 ...

Investment Rating - The report maintains a "Positive" outlook for the non-banking financial sector, indicating an expectation for the industry to outperform the overall market [2]. Core Insights - The listing of Circle, the issuer of the second-largest stablecoin USDC, on the New York Stock Exchange provides a reference market valuation sample for stablecoin issuers. The IPO raised $1.05 billion, with a first-day increase of 168.48% and a closing price of $107.7, reflecting a 247.4% increase from the issue price [2]. - The report highlights the roles of stablecoin issuers, exchanges, and service payment providers in the stablecoin market, suggesting that these entities will play a significant role in market dynamics. It emphasizes the importance of regulatory frameworks in Hong Kong for stablecoin development [2]. - In the brokerage sector, the report notes significant progress with the approval of Central Huijin as the actual controller of eight securities, fund, and futures institutions, which is expected to enhance the financial landscape and resource sharing [2][15]. - The report identifies three investment themes in the brokerage sector: strong head institutions benefiting from improved competition, brokers with high earnings elasticity, and firms with strong international business capabilities [2]. Summary by Sections Market Review - The Shanghai Composite Index closed at 3,873.98 with a weekly change of +0.9%, while the non-banking index closed at 1,766.54 with a change of +2.0%. The brokerage, insurance, and diversified financial sectors reported changes of +2.4%, +1.0%, and +2.7% respectively [5][6]. Non-Banking Sector Insights - The insurance sector saw a weekly increase in the Shenwan Insurance II Index by 1.0%, outperforming the CSI 300 Index by 0.2 percentage points. The report suggests that the stablecoin market could provide new growth opportunities for fintech companies like ZhongAn Online [2][7]. - The brokerage sector experienced a weekly increase in the Shenwan Brokerage II Index by 2.39%, outperforming the CSI 300 Index by 1.51 percentage points. The report notes an increase in market trading activity, with average daily stock turnover reaching 12,090.44 billion yuan, up 10.50% week-on-week [2][14]. Key Individual Stock Announcements - In the insurance sector, notable stock performances included New China Life (+5.9%) and China Life (+4.5%) in A-shares, while in H-shares, New China Life rose by 11.5% [7]. - In the brokerage sector, the top performers included Guotai Junan (+7.7%) and Everbright Securities (+7.1%) [7]. Important Data - As of June 6, 2025, the average daily trading volume in the stock market was 12,090.44 billion yuan, with a year-to-date increase of 31.06% compared to the previous year [14][35]. - The margin trading balance reached 18,116.80 billion yuan, reflecting a slight decrease from the end of the previous year [14][37]. Regulatory Developments - The report notes the approval of Central Huijin as the actual controller of several financial institutions, which is expected to enhance governance and operational efficiency in the sector [15][20]. - The report also highlights the ongoing regulatory focus on supporting technology innovation through capital markets [18].

A-share Market Valuation - The current PE (TTM) for the A-share market is 14.64, with a median of 13.38 and a maximum of 30.60[13]. - The PE (TTM) for the Shanghai Composite Index is 12.68, while the CSI 300 is at 27.88, indicating a significant valuation disparity[9]. - Excluding financial and oil sectors, the A-share PE (TTM) is 21.74, showing a higher valuation compared to the overall market[6]. Hong Kong Market Valuation - The Hang Seng Index has a current PE (TTM) of 10.64, with a median of 10.24 and a maximum of 22.67[61]. - The Hang Seng Technology Index shows a current PE (TTM) of 20.87, indicating a higher valuation compared to the overall Hang Seng Index[66]. U.S. Market Valuation - The S&P 500 has a current PE (TTM) of 26.87, with a median of 20.86 and a maximum of 41.99[84]. - The NASDAQ Index shows a current PE (TTM) of 40.41, reflecting a high growth expectation in technology stocks[92]. Sector Valuation Insights - In the A-share market, sectors like non-ferrous metals and food & beverage are at historically low PE levels, while sectors like computers and steel are at historically high PE levels[19]. - The banking sector's PB (LF) is at 0.57, indicating a low valuation compared to historical averages[26]. Risk Factors - Potential risks include policy effectiveness falling short of expectations and unexpected corporate earnings results[105].

6月A股迎来开门红，本周大盘延续稳健上涨的格局，几乎所有指数周K线均收出小阳线，涨幅不大，大多数涨幅在1.5%左右。板块方面依然是轮流转的 格局，之前调整的半导体板块成为领头羊，是本周表现最好的板块。券商、银行等金融板块继续小幅上涨，助力大盘上攻。 所有指数周K线均收阳 本周进入6月份，主要指数均迎来开门红。上证指数以3340.07点低开，这个指数也是全周的最低点，开盘后就开始小幅上涨，到周五已经接近3400点，摸 高3391.45点，最终报收3385.36点，周K线收出光脚小阳线，本周上涨1.13%。 上证指数周K线 深证成指本周以10006.13点开盘，周五报收10183.7点，本周上涨1.42%；创业板指数本周以1986.54点开盘，周五报收2039.44点，本周涨幅为2.32%。 深证成指周K线图 创业板指数周K线图 本周几乎所有指数均上涨，但涨幅很小，走势一直最强的北证50指数本周涨幅也只有1.3%，虽然涨幅很小，但本周收盘1427点创出周收盘新高。周K线已 经4连阴的科创50指数,本周终于收出阳线,周涨幅1.5%。 5月份表现不错的金融股，6月份继续强势上涨，当然涨幅并不是很大，本周券商股表现强于 ...

Group 1 - The core viewpoint is that Robinhood's stock initially surged by 7% after hopes of being included in the S&P 500 index, but later turned to a decline of 3% [1] - As of 06:14 Beijing time, there has been no announcement from S&P Dow Jones Indices regarding changes to the S&P 500 index components [2]