CITIC Securities Co. Ltd. (CITIC SEC), a leading Chinese brokerage firm, saw its shares soar 39.42% on Wednesday, driven by a broad-based rally in Hong Kong's financial sector stocks following Beijing's stimulus measures and supportive policies.
The Hong Kong stock market witnessed a remarkable resurgence, with the benchmark Hang Seng Index recording its biggest one-day gain since November 2022, rising 6.2%. The surge was primarily fueled by Chinese property and financial companies, which received a significant boost from Beijing's efforts to revive the economy and stabilize the real estate market.
Chinese financial stocks led the charge, with CITIC SEC emerging as one of the top performers. The company's shares surged, reflecting investor optimism amid Beijing's measures to stimulate the economy, ease home purchase rules, and restore confidence in the nation's stock markets.
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