Sou Hu Cai Jing·2025-09-19 06:07Core Viewpoint - The brokerage sector is experiencing a positive trend with increased liquidity and market activity, leading to a favorable environment for growth and performance improvement [2][3]. Group 1: Market Performance - As of September 19, 2025, the CSI All Share Securities Company Index (399975) decreased by 0.32%, with Huaxi Securities (002926) leading the gains at 2.47% [1]. - The brokerage ETF (512000) has been adjusted to a latest price of 0.59 yuan [1]. - The brokerage ETF has seen a significant increase in trading volume, with a turnover of 2.49% and a transaction value of 8.67 billion yuan [2]. Group 2: Fund Performance - The brokerage ETF's scale reached 34.886 billion yuan, marking a one-year high and ranking second among comparable funds [2]. - The ETF's shares reached 59.290 billion, also a one-year high, making it the top in terms of shares among comparable funds [2]. - Over the past 16 days, the brokerage ETF has experienced continuous net inflows, totaling 6.453 billion yuan, with a peak single-day inflow of 1.262 billion yuan [2]. Group 3: Industry Outlook - HuLong Securities suggests that the overall industry valuation and performance improvement trends are diverging, indicating strong recovery potential [3]. - The brokerage sector is benefiting from increased market activity, optimized investment ecology, and clear regulatory support for liquidity [3]. - Haitong Securities highlights that brokerage investment and brokerage services are benefiting from high market growth, with a strong recovery in investment banking and international business [3].