Core view
On Thursday (May 19), affected by the sharp fall of US stocks overnight, the three major A-share indexes opened low in the morning and continued to rise. After a brief red turn in the afternoon, they fell into shock, and pulled up again in the late afternoon to get out of the independent market. The floor volume is only slightly higher than that of the previous trading day, the overall resilience of the market is strong, and it is expected that there is little possibility of sharp shock in the short term.
In terms of market, as of yesterday, 60 newly raised funds have adopted the settlement mode of securities companies, with a total issued share of more than 30 billion. The hot development of bond settlement mode is more conducive to the in-depth cooperation between securities companies and funds, and provides some help for securities companies to walk out of the new road of wealth management.
In terms of industry, since this year, Sinolink Securities Co.Ltd(600109) has implemented fixed growth, and China Greatwall Securities Co.Ltd(002939) , Central China Securities Co.Ltd(601375) , Sealand Securities Co.Ltd(000750) fixed growth is also on the “road”. Although limited by the downturn of the market in the first quarter and the new refinancing regulations, fixed growth and contraction occur from time to time, refinancing is still an important channel for securities companies to obtain financial support. The securities companies that have obtained funds will be used for business development in order to innovate the exhibition mode and find their own characteristic development direction.
Risk tip: the peripheral economy is impacted downward and the industry development is less than expected
