证券ETF（512880）盘中涨超2.7%，连续4日净流入超18亿元，市场交易活跃提振证券板块配置价值

Group 1 - The non-bank financial sector is expected to outperform due to rising market trading volumes, with a focus on undervalued leading brokerage firms [1] - The insurance sector may see valuation recovery opportunities as a beneficiary of cyclical expansion under the anti-involution and PPI diffusion strategy [1] - During the 14th Five-Year Plan period, China's financial system reform has deepened, significantly improving the quality and efficiency of financial services to the real economy [1] Group 2 - The market system has become more complete with multi-level and wide coverage, advancing reforms in the Sci-Tech Innovation Board and the establishment of the Beijing Stock Exchange [1] - The total financing through stock and bond markets reached 57.5 trillion yuan over the past five years, with the proportion of direct financing increasing by 2.8 percentage points to 31.6% [1] - The resilience and risk resistance of the A-share market have significantly improved, with a fair and just market environment being further established [1] Group 3 - The brokerage sector has strong beta attributes, with its performance closely linked to capital market performance, suggesting a recovery in the securities industry's prosperity [2] - It is recommended to focus on the securities ETF (512880) that has consistently led in liquidity and scale, aiming to seize investment opportunities [2]