A股牛市确认？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

Market Overview - The Shanghai Composite Index has surpassed 3600 points, reaching a new closing high, with margin trading balances climbing to 2 trillion yuan, the highest level in over 10 years since July 2, 2015 [1] - The financing balance has also risen to 1.99 trillion yuan, marking a new 10-year high, indicating a growing bullish sentiment in the market [1] ETF Performance - The A-share leading brokerage ETF (512000) has seen significant inflows, with a net inflow of 239 million yuan over three consecutive days [3] - The ETF 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 [4] Sector Analysis - Xiangcai Securities suggests that the active trading environment and the recovery of brokerage sector performance and valuations indicate potential for increased capital allocation to brokerages [4] - Donghai Securities highlights the effectiveness and direction of the new "National Nine Articles" policy, which aims to invigorate the capital market, recommending a focus on brokerage mergers and acquisitions, wealth management transformation, and improvements in return on equity (ROE) [4]