HK Stock Market Move | BRIGHT SMART (01428) is now down more than 8%, still 1.5 times higher than before the acquisition. The differentiation in the Hong Kong securities industry may intensify.

BRIGHT SMART (01428) quickly retreated after reaching a new high today, falling more than 13% at one point during the trading session. The stock price has risen 1.5 times since before the acquisition. As of the time of writing, it has fallen by 8.26% to HK$7.66, with a trading volume of HK$14.08 billion. On the news front, on April 25th, Ant Wealth initiated a tender offer through its affiliated company Shanghai Yun to acquire Yiu Tung Securities. The offer price is HK$3.28 per share, representing a premium of 17.6% over the closing price before the suspension. The offer involves approximately 8.58 billion shares with a total value of HK$28.14 billion, of which 10% has already been paid as a deposit. Donghai Securities pointed out that Yiu Tung Securities has a significant advantage in Hong Kong's financial license compared to Futu Holdings. The bank also noted that Ant's strategic layout this time marks a new stage of technology empowerment in Hong Kong's securities market, and the industry differentiation trend will intensify further. In the long run, Hong Kong's securities market may enter a new stage of technology empowerment, with digital transformation, continuous innovation, and a sound product system becoming core competitive strengths, also providing important reference for the development of the mainland capital market.