Shares of CITIC Securities Co. Ltd. (HKG:6030) surged 5.18% on Friday, closing at HK$25.80, as the Hong Kong Securities and Futures Commission (SFC) announced the expansion of its cross-border wealth connect scheme to include brokerages.
The SFC named 14 securities companies, including CITIC Securities' Hong Kong unit, that will participate in the scheme and offer cross-boundary investment services for investors in the Greater Bay Area comprising Guangdong, Hong Kong, and Macau.
The move is expected to boost CITIC Securities' cross-border business and attract more mainland Chinese investors to its services. As one of the largest brokerages in China, CITIC Securities is well-positioned to capitalize on the growing demand for cross-border investment opportunities in the region.
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