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<Research>JPM Names CICC as Top Pick; Brokers with High Beta to Benefit from Hot Mkt Sentiment
Recommend 16 Positive 18 Negative 3 |
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The A- and H-shares of Chinese brokers rose by an average of 4% and 8% respectively yesterday (6th), outperforming the CSI 300 Index and the HSI by 3 and 7 ppts, according to a report from JPMorgan. If this sentiment can stay strong, JPMorgan expects brokers with high beta, such as EAST MONEY (300059.SZ) and CMSC (06099.HK), may continue to outperform their peers. JPMorgan's industry top pick is CICC (03908.HK), citing that the stock has a relatively high beta value and benefits from strong IPO flow in Hong Kong stocks, potential easing of capital and leverage restrictions, and tailwinds from acquiring two small brokers. AAStocks Financial News |
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