Brokerage buyback wave and strong interim results drive CSI Securities and Insurance ETF's underlying index up over 2%

Industry
โดย 每日经济新闻·Read original
Summary · why it matters

On the morning of July 20, the broader financial sector rallied, with the CSI 300 Non-Bank Financial Index rising 2.5% and the CSI All Share Securities Index gaining 1.9%. Huaan Securities and Guolian Minsheng successively announced share buyback plans, joining Guojin Securities which had launched a buyback earlier, bringing the combined buyback cap for the three brokerages to 700 million yuan. On the same day, the median interim profit forecast for 20 listed brokerages showed a year-on-year increase of 91%, with a quarter-on-quarter rise of 63% in the second quarter. As of July 17, the CSI All Share Securities Index traded at a price-to-book ratio of just 1.10 times, near the 11th percentile of the past decade, and a price-to-earnings ratio of only 14.39 times, near the 2nd percentile of the past decade. The E Fund CSI Securities ETF and the E Fund CSI Securities and Insurance ETF track the CSI All Share Securities Index and the CSI 300 Non-Bank Financial Index respectively, offering investors a one-click tool to invest in leading securities firms.

Impact on stocks 4

Others▲ · 4 stocks
Sinolink Securities Co Ltd
600109
▲ PositiveCapitalrelevance

The article reports strong interim profit forecasts for brokerages and low valuations, which is positive for the sector including Sinolink Securities.

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