Cathay Pacific Haitong: More Hong Kong securities firms may expand their virtual asset business

Cathay Haitong released a research report saying that more Hong Kong brokerages will lay out virtual asset business in the future. In addition, the recent market has gradually entered a performance window period, and the profitability of the brokerage sector is expected to exceed expectations. Under the background of stabilizing the stock market, the opportunity to continue to recommend low-valued and underallocated heavyweights, non-bank heavyweights have shifted from "fundamental marginal thinking" to "total risk-return ratio thinking". Especially under the recent policy of encouraging red chips and H shares to return to A, non-bank heavyweights in Hong Kong stocks have benefited more.