牛市确认？融资余额创逾10年新高！券商震荡蓄力，A股顶流券商ETF（512000）近3日吸金2.39亿元

Group 1 - The Shanghai Composite Index has risen above 3600 points, reaching a new closing high, with margin trading balances climbing to 2 trillion yuan, the highest in over 10 years [1] - The bullish market sentiment is expected to significantly benefit brokerage firms, as indicated by the recent inflow of capital into the A-share top brokerage ETF (512000), which has seen a net inflow of 239 million yuan over three consecutive days [1][3] - The brokerage sector is experiencing performance and valuation recovery, with active equity funds showing low allocation to brokerages compared to performance benchmarks, suggesting potential for increased capital allocation [3] Group 2 - The new "National Nine Articles" policy provides clear guidance for cultivating top-tier investment banks, maintaining a long-term logic for an active capital market, and highlighting key themes such as brokerage mergers and acquisitions, wealth management transformation, and ROE improvement [3] - The brokerage ETF (512000) passively tracks the CSI All Share Securities Companies Index, encompassing 49 listed brokerage stocks, with nearly 60% of its holdings concentrated in the top ten leading brokerages, while also including mid and small brokerages for high performance potential [3]