Xin Lang Cai Jing·2025-08-13 03:53Core Viewpoint - The A-share market continues its slow bull trend, with the Shanghai Composite Index surpassing the previous high of 3674.4 points, reaching a new peak of 3688.09 points, the highest since December 14, 2021 [1] Group 1: Market Performance - The brokerage sector, often seen as the "flag bearer" of the bull market, has shown significant movement, with Guosheng Financial and Changcheng Securities hitting the daily limit, and Dongwu Securities rising nearly 9% [1] - The top brokerage ETF (512000) surged by 2.57% during the session, with a half-day trading volume of 1.174 billion yuan, significantly exceeding the previous day's total [1] - Over the past two days, the brokerage ETF (512000) has seen a net subscription of over 450 million yuan, accumulating over 680 million yuan in the last ten days [1] Group 2: Fund Inflows and Market Sentiment - The non-bank financial (brokerage) sector has experienced a net inflow of over 7.5 billion yuan, quickly becoming the second-highest inflow sector across the market [1] - Individual stocks like Dongfang Caifu have attracted over 1.1 billion yuan in net inflows, leading the sector [1] Group 3: Analyst Insights - Analysts suggest that the current upward trend in the market is supported by liquidity and favorable policies, with expectations of a gradual formation of a slow bull market [2] - Incremental retail investment is anticipated to be a significant driver of the current slow bull market [2] - The brokerage sector is viewed as a favorable investment opportunity under the backdrop of loose liquidity and proactive policies, encouraging active positioning in brokerage stocks [2]