越跌越买，停不下来！连续18日吸金超64亿元，300亿顶流券商ETF（512000）回调超2%

Core Viewpoint - The brokerage sector experienced a decline on September 23, with most brokerage stocks in the red, despite a high level of capital inflow into the top brokerage ETF (512000) which has seen a net inflow of 6.481 billion yuan over 18 consecutive trading days [1] Group 1: Market Performance - The top brokerage ETF (512000) saw a drop of over 2% in its market price, with real-time trading volume exceeding 900 million yuan, indicating active trading [1] - The overall performance of brokerages this year ranks 25th among 30 primary industries, and they have not yet surpassed the high point from the September 24 rally last year [1] Group 2: Capital Market Insights - At a press conference on September 22, officials from the central bank, the China Banking and Insurance Regulatory Commission, and the China Securities Regulatory Commission highlighted achievements in the financial industry, emphasizing the deepening of capital market reforms and policies encouraging long-term capital inflow [1] - The trend of residents moving deposits and the Federal Reserve's new round of interest rate cuts are creating a clearer trend for fixed-income investments to enhance performance through equity assets, providing strong support for continued activity in the capital market [1] Group 3: ETF Composition - The brokerage ETF (512000) and its linked fund (006098) passively track the CSI All Share Securities Companies Index, encompassing 49 listed brokerage stocks, with nearly 60% of the portfolio concentrated in the top ten leading brokerages [2] - The remaining 40% of the portfolio includes smaller brokerages, which are characterized by high earnings elasticity, making the ETF an efficient investment tool that balances exposure to leading brokerages while also capturing the growth potential of smaller firms [2]