合併落地！A股券商集體高潮，港股國聯證券一度大漲75%
週末一則消息引發市場亢奮：9月20日下午，國聯證券、國金證券均公告稱，國聯證券擬受讓長沙湧金持有的國金證券約7.82%股份，同時國聯證券向國金證券全體股東發行A股股票的方式換股吸收合併國金證券。
此外，經公司向上海證券交易所申請，公司股票自2020年9月21日起停牌，預計停牌時間不超過10個交易日。
這兩個券商以週五收盤價來算，那麼新的券商總市值或將達到930億元，這將在A股券商股中排位第13，逼近光大證券的當前市值（1063億元），向第一梯隊券商穩步邁進。
這則消息可以説是券商合併的實錘，在以前，無論是中信建投和中信證券、第一創業和首創證券均是市場傳聞。今日券商板塊大幅度高開，浙商證券、哈高科、第一創業漲幅超4%，其餘個股紛紛跟漲。
圖片來源：富途
港股國聯證券直接高開75%，開盤後迅速回撤近35%，截至發高時間，國聯證券大漲51.26%。
圖片來源：富途
不過，券商的大幅度高開，其他非銀金融並沒有同步上攻，盤面上反而被券商抽血，今日A股一開盤直接下探，截至發稿時間，滬指已翻綠，報3337.59點，微跌0.01%。
圖片來源：wind
東吳證券認為：隨着證券業對外開放的提速，外資控股的合資證券公司不斷增多，行業競爭日趨激烈，大型券商競爭優勢突出，頭部效應顯著，行業整合需求持續攀升，監管意圖打造航母級證券公司也是順勢而為。從2018年中信證券收購廣州證券，到2019年天風證券與恆泰證券的橫向聯合，再到華創證券接手轉讓股權入主太平洋證券，金元證券轉讓76%的股權，證券業併購整合的大戲已開始上演。
國泰君安認為，國聯證券吸收合併國金證券將進一步提升自身的綜合競爭能力及盈利能力，合併順應證券行業打造航母級券商的發展大潮；行業綜合競爭力突出、資本實力強勁的頭部券商仍繼續在各方面領跑行業發展，也將更為受益行業變革。機構普遍認為，券商合併事件有望使得市場再度提升對“航母級”券商的關注度，推動市場情緒，進一步提升大金融方向的熱度。
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