B[Interim dividends for listed securities companies are gradually implemented] September 19th, after the disclosure of the 2026 interim report of listed securities companies, the progress of their mid-term dividends has become one of the topics that investors pay close attention to. Wind data shows that three listed securities companies, China Merchants Securities, Hongta Securities, and First Venture Capital, have completed the mid-term equity distribution this week, distributing a total of more than 1.7 billion yuan (tax included, the same below). Another 24 securities companies have announced mid-term dividend plans and plan to distribute more than 26 billion yuan in cash. From an investment perspective, as the capital market reform continues to advance, all main businesses of securities firms are expected to fully benefit. The current sector valuation is at a relatively low level, and the relatively solid fundamental performance has provided important support for the restoration of the valuation of securities firms. The investment value of leading securities firms in the industry with strong comprehensive strength and balanced business layout, as well as leading securities firms with differentiated competitive advantages in wealth management, institutional business and other fields, has attracted much attention. (China Securities News) B[Hedge funds are doing long oil and fuels, with the most bullish sentiment on gasoline] September 9th, JKempEnergy Research Company pointed out that according to the latest position data released by regulators and exchanges, due to low inventories and limited refining options, the refined oil market, especially gasoline, has become the primary target of hedge funds and other money managers. As of September 1, hedge fund managers had accumulated a net long position equivalent to 177 million barrels in futures and options contracts on the three major gasoline and middle distillate varieties. Compared with crude oil, funds are more optimistic about the fuel market. They have a neutral or even slightly bearish attitude towards crude oil, holding 380 million barrels. In the fuel sector, investor sentiment is most bullish on gasoline, with net long positions reaching 89 million barrels, which is about 90% higher than the weekly record level since 2011 and one of the highest levels since the outbreak of the epidemic in early 2020.
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