China’s securities brokerages continue to rally on reduction of reserve payment ratio for stock businesses
POLICY & REGULATION STOCKS
China’s securities brokerages continue to rally on reduction of reserve payment ratio for stock businesses
POLICY & REGULATION STOCKS

China’s securities brokerages continue to rally on reduction of reserve payment ratio for stock businesses

 

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Chinese securities brokerages continue to rally, with an index tracking the sector compiled by Wind Information surging nearly 4.2%, making the best-performing sector in the A-share market. 

Several brokerages including Guolian Securities, Cinda Securities, Capital Securities are surging by the daily limit of 10%, Huatai Securities and Guojin Securities up more htan 7%, Haitong Securities up nearly 6%.

China Securities Depository and Clearing Corporation Co., Ltd. (CSDC) said that it will further reduce the minimum settlement reserve fund payment ratio for stock businesses to an average of 13% from current 16%, starting from October, and will implement differentiated arrangement for the ratio. Read more …