SCS(SH:601555) 2 1 Shi Ji Jing Ji Bao Dao·2025-10-15 01:40Core Viewpoint - The A-share market is experiencing fluctuations, with the securities sector continuing to attract significant capital inflows [1] Group 1: Market Performance - The securities ETF (159841) has seen a net inflow of over 660 million yuan over the past four days [2] - The securities ETF closely tracks the CSI All Share Securities Company Index, which includes both traditional securities leaders and financial technology leaders [2] Group 2: Economic Indicators - Federal Reserve Chairman Jerome Powell indicated a potential for interest rate cuts this month due to a deteriorating labor market, despite the government shutdown affecting economic assessments [2] - The Fed may also halt its balance sheet reduction in the coming months [2] Group 3: Industry Outlook - The pre-disclosure of third-quarter earnings for securities firms is beginning, with Dongwu Securities projecting a net profit of 2.748 billion to 3.023 billion yuan for the first three quarters of 2025, representing a year-on-year increase of 50% to 65% [2] - Several brokerages expect significant growth in the securities industry for the third quarter, which could drive up the sector's valuations [2][3] Group 4: Analyst Insights - Open Source Securities anticipates an expansion in net profit growth for the securities sector in the third quarter, driven by increased trading activity and margin financing [3] - The sector's fundamentals are improving, and valuations remain low, indicating a strategic allocation opportunity for institutions [3]