On the 11th, the brokerage sector made strong intraday gains. As of press time, Orient Securities rose by more than 7%, Industrial Securities and Capital Securities rose by more than 4%, Zhongtai Securities, GF Securities, China Securities, and CITIC Securities all rose.
On April 10, China Securities Finance lowered the margin share of securities companies, and adjusted the margin share of refinancing from two levels to three levels. Among them, the margin share of companies with high credit standing was reduced from 20% to 5%; companies with outstanding credit standing, Reduced from 20% to 10%; other companies reduced from 25% to 15%. At the same time, in order to further reduce the cost of market-making and securities lending business and promote the development of market-making business, China Securities Finance has simultaneously lowered the margin share of market-making securities lending on the Science and Technology Innovation Board. Companies with high credit ratings have been reduced from 10% to 5%. Reduced from 15% to 10%. China Securities Finance estimates that after the margin share is reduced, about 30 billion yuan of brokerage funds will be released.
A few days ago, China Settlement also announced that it will officially launch a differentiated reduction of the minimum settlement reserve payment share for stock transactions, which will reduce the minimum reserve payment share for stock transactions from 16% to about 15% on average. Brokers predict that this move will release more than 10 billion funds.
With the capital market's expectations better than 2022, it is estimated that the fundamentals of securities firms will improve. Especially since entering April, the trading volume of the two cities has gradually increased, which will help support the improvement of the fundamentals of securities companies and the restoration of valuations. At the same time, with the orderly advancement of the registration system, it is estimated that it will gradually begin to be reflected in the performance of investment banks. Under the registration system, higher requirements will be put forward for the underwriting, underwriting and pricing capabilities of securities firms' investment banking affairs. Based on this, it is advocated that "investment banking "Investment research" and "capital investment" are well-cooperated with leading securities firms, such as CITIC Securities, CICC, China Securities, etc., as well as small and medium-sized securities firms with high growth potential and a high regional economic foundation, such as Guolian Securities.