Shares of CITIC Securities (06030) surged 17.31% on Thursday, outperforming the broader Hong Kong stock market, which closed 2.02% higher. The rally in the brokerage firm's stock was driven by two key factors:
Firstly, CITIC Securities announced the appointment of Zou Yingguang as its new general manager, filling a vacancy that had lasted for nearly half a year. The appointment of a new leader is expected to provide stability and direction for the company.
Secondly, there is growing speculation about a potential merger between CITIC Securities and its sister company, CITIC Construction Securities. The appointment of a new general manager at CITIC Construction Securities has fueled expectations of a consolidation between the two leading brokerages.
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