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On Thursday night, there was a piece of news that came out too late, so I didn't include it in my evening report. Guotai Junan Securities was planning to absorb and merge Haitong Securities. This was the first merger of large securities firms after the release of the Nine Measures. Guotai Junan Securities and Haitong Securities were both suspended on Friday. Other securities sectors that were trading once surged to 2.5% in the morning, but fell to 0.5% at the close, which was equivalent to leaving some people out in the cold.

Traditionally, there are two types of positive factors for securities stocks. One is the reduction of stamp duty, which is unquestionably a once-in-a-decade event. The other is the merger of securities firms, which is a tradition and occurs almost every one or two years.