券商ETF本周涨超4%，A500ETF基金(512050)自6月23日以来涨超5%

Market Performance - The three major A-share indices continued to rise, with the Shanghai Composite Index closing up 0.01% at 3510 points, the Shenzhen Component Index up 0.61%, and the ChiNext Index up 0.8% [1] - The total trading volume reached 1.74 trillion yuan, the highest since March 15, with an increase of 221.5 billion yuan compared to the previous trading day [1] - The micro-cap stock index outperformed, with the ChiNext Index showing a notable increase of 2.99% this week [1][2] ETF Performance - The "Global Vision, Betting on China" top ten core ETFs rose by 1.72% this week, outperforming the CSI 300 Index by 0.9 percentage points [4] - The best performer was the brokerage ETF, which increased by 4.44%, while the ChiNext 50 ETF rose by 2.58% [4][10] - The A500 ETF (512050) increased by 1.24% this week and has risen 5.36% since June 23, outperforming the A500 Index by 0.18% [6][9] Brokerage Sector Insights - The brokerage sector's half-year performance forecasts are strong, with net profit growth expected to exceed 40% for many firms [12] - Factors contributing to this growth include significant self-operated business income and a recovery in brokerage activities, with average daily trading volume reaching 1.49 trillion yuan, a 61% year-on-year increase [13] - The number of new A-share accounts reached 12.6 million in the first half of 2025, a 32.8% increase year-on-year, indicating heightened investor enthusiasm [13] Growth Drivers - The A500 Index has outperformed the Shanghai Composite Index and the CSI Bank Index due to its focus on high-quality stocks across 91 sub-industries, with nearly 50% weight in new productivity-related sectors [8][9] - The emphasis on new productivity as a key economic driver aligns with government policies aimed at enhancing product quality and addressing overcapacity issues [16] - The ChiNext 50 Index, which focuses on high liquidity and large market capitalization stocks, has led the A-share indices this week, highlighting the strength of growth-oriented companies [17]