Huatai Securities: Emphasizing the strategic allocation opportunity of brokerage stocks.

Huatai Securities pointed out that the overall market has been improving since the beginning of this year, with sector performance continuing to grow. However, the stock prices of securities firms have fallen, forming a contrast and deviation from past logical deductions, which may be due to factors such as funding behavior, risk preferences, and policy guidance. Looking ahead, the stability and sustainability of sector performance are good, and factors suppressing funds are expected to ease. Under geopolitical fluctuations, market styles are becoming more balanced, and policies are increasing support for the capital market. In addition, with strong performance and low valuations, there may be a window of opportunity for valuation repair, so it is important to pay attention to strategic allocation opportunities for securities firm stocks.