TechFlow, June 30 — According to Jinshi Data, Guotai Haotong released a research report stating that more Hong Kong brokers will expand into virtual asset businesses in the future. In addition, as the market gradually enters the earnings season, broker sector profits are expected to exceed expectations. Against the backdrop of stabilizing the stock market, we continue to recommend opportunities in low-valued and underweight large-cap stocks, with non-bank large-cap stocks shifting from a "marginal thinking on fundamentals" to a "total thinking on risk-return ratio." Especially under recent policies encouraging Red Chip and H-share listings back in mainland China (A-shares), non-bank large-cap stocks in Hong Kong stand to benefit more.
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