证券ETF（512880）涨超1.3%，政策与交投活跃度提振板块预期

Group 1 - The non-bank financial and securities industry is currently influenced by both policy environment and market activity, with the State Council deploying personal consumption loans and service industry operating loan interest subsidy policies to lower financing costs and stimulate consumption potential [1] - The central bank has indicated a continuation of moderately loose monetary policy in the second half of the year, emphasizing the maintenance of ample liquidity and guiding reasonable credit growth, alongside strengthened regulatory measures for financial infrastructure, which provides institutional support for the industry's standardized development [1] - The securities sector is expected to benefit from active market trading in the short term, with an average daily trading volume of 22.8 trillion yuan in stock funds, while in the long term, it will benefit from the incremental space brought by deepening capital market reforms [1] Group 2 - The insurance sector shows potential for valuation recovery against a backdrop of stable liabilities and alleviated risks on the asset side, which is worth noting [1] - The Securities ETF (512880) tracks the Securities Company Index (399975), which selects listed companies involved in securities services from the A-share market, covering representative enterprises in brokerage, investment banking, and proprietary trading to reflect the overall performance and market trends of the securities industry [1] - Investors without stock accounts may consider the Guotai CSI All Share Securities Company ETF Connect C (012363) and Guotai CSI All Share Securities Company ETF Connect A (012362) [1]