近60个交易日涨超27%，证券ETF（159841）成交额破6.5亿元，机构：券商估值和基本面有望持续改善

Group 1 - The securities sector is experiencing a narrow fluctuation with the Securities ETF (159841) rising by 0.16% as of the report, with a trading volume exceeding 650 million yuan and a turnover rate over 10% [1] - Over the past 60 trading days, the Securities ETF has accumulated a gain of 27.55% [1] - As of August 22, the latest scale of the Securities ETF is 6.365 billion yuan, making it the largest ETF in the same category in the Shenzhen and Shanghai markets [1] Group 2 - The A-share market has seen a significant increase in trading enthusiasm since August, with transaction amounts maintaining above 2 trillion yuan for several consecutive trading days, leading to a monthly increase of over 8% in the brokerage sector [2] - The mid-term performance of brokerages is showing significant growth, with companies like Southwest Securities and Guosheng Jin控 reporting revenue and net profit increases exceeding 24% year-on-year in their 2025 semi-annual reports [2] - The current PB valuation of the securities sector is at a near 10-year low, contrasting with the improving profitability trend, indicating potential for a complete cycle from performance-driven to valuation reconstruction [2]