Xin Lang Ji Jin·2025-10-09 02:52Core Viewpoint - The A-share market experienced a strong opening on the first trading day after the holiday, with all three major indices rising, and the Shanghai Composite Index breaking through the 3900-point mark, reaching a 10-year high [1] Group 1: Market Performance - The brokerage sector opened lower but quickly rebounded, with the top brokerage ETF (512000) seeing a 0.5% increase in price and a trading volume exceeding 1.1 billion yuan within half a day [1] - The brokerage sector is expected to show significant year-on-year growth in Q3 earnings, driven by increased market trading activity and margin financing scale [2][3] - The top brokerage ETF (512000) has attracted a net inflow of 5.383 billion yuan over the last 20 trading days, with its total scale exceeding 35 billion yuan and an average daily trading volume of over 1 billion yuan this year [3] Group 2: Individual Stock Performance - Red Tower Securities led the gains with a 7.13% increase, followed by First Entrepreneurship with over a 3% rise, and several other brokerages like Zhongtai Securities and Huachuang Yuxin also showing positive performance [4] - The brokerage ETF (512000) includes 49 listed brokerage stocks, with nearly 60% of its holdings concentrated in the top ten leading brokerages, while the remaining 40% focuses on smaller brokerages with high earnings elasticity [5]