Financial World Website reported on December 30 that in the afternoon, CITIC Securities hit the daily limit, with the stock price reaching 25.66 yuan to a new high of more than 8 months, and the current turnover is 10.7 billion yuan. The last time the stock hit the daily limit was February 25, 2019.
In terms of securities sector, Founder Securities and Guotou hit the daily limit, Dongxing Securities and CICC rose by more than 5%.
For the market, the Shanghai Composite Index once reached a high above 3040 points during the session, hitting a new high of more than three months.
Tianfeng Securities pointed out that in terms of securities companies, the newly revised Securities Law clearly stipulates that the comprehensive implementation of the registration system + improving the multi-level capital market + significantly increasing the cost of violations, and the supporting policies for deep reform of New Third Board are implemented, equity financing ushers in a big era. We judge that the securities industry will usher in a double improvement in policy benefits and performance in 2020, and leading securities companies will benefit directly. Recently, securities companies have ushered in intensive policy benefits, coupled with the significant recovery in market activity, so we strongly recommend the securities sector.
Dongwu Securities believes that the new securities law will cause stock price fluctuations in high-priced stocks and shell resource stocks in the short term, and will guide funds to concentrate on high-quality targets with stable fundamentals in the long term. At the same time, a large number of new stocks will enter the market and will increase the performance of securities companies. In addition, the comprehensive implementation of the registration system will promote the transformation of securities companies into "comprehensive financial services", put forward higher requirements for the pricing and research capabilities of securities companies, and have relatively outstanding leading advantages. The securities industry is in an era of very obvious changes, and the leading advantages of leading securities companies will be more obvious. Policy dividends are constantly released, which will constitute a significant catalysis of the valuation of securities companies. It is recommended to pay attention to: the most beneficial industry concentration increases in the securities companies' leading CITIC Securities ; the leading tech finance industry leaders Huatai Securities ; CICC, which has rapid wealth management transformation.
Zhongtai Securities believes that reforms are accelerating and market activity is expected to continue to improve: Since November 2018, the non-bank sector has promoted policies in many fields such as mergers and acquisitions, repurchase, registration system pilot, expansion of opening up to the outside world, refinancing, derivatives, and new asset management regulations. Looking forward to the 2020 GEM registration system reform is worth looking forward to. The draft refinancing comments optimizes the conditions of the GEM and relaxes the requirements for share reduction. The deepening of market-oriented reform of the multi-level capital market will help improve direct financing efficiency. As an intermediary institution securities firm, brokerage, investment banking, and proprietary business have all ushered in opportunities, performance has room for upward, and sectors have ushered in allocation window.
