Chinese brokerage stocks bucked the broader market downtrend. At press time, CMSC (06099) rose 4.81% to HK$14.16, while DFZQ (03958) gained 2.62% to HK$7.06. SWHY (06806) advanced 2.29% to HK$3.13, and CSC (06066) climbed 1.51% to HK$12.76.

The rally comes as Changjiang Securities and Soochow Securities recently announced increases in their margin financing business limits. Industry data shows at least nine brokerages have adjusted margin financing operations this year, including raising business ceilings and modifying credit management approaches.

Soochow Securities stated the adjustments aim to address credit quota shortages caused by margin financing growth this year, ensuring smooth onboarding of new clients. Kaiyuan Securities noted recent positive signals from regulators suggest the sector may enter a "policy easing phase" after strict oversight. Potential deregulation measures like higher leverage limits could boost industry ROE.

The report added that investment banking and mutual fund businesses may supplement traditional operations to maintain profitability, while Fed rate cuts could improve international operations. With brokerage valuations still low, strategic investment opportunities remain attractive.