前瞻布局三季报行情？巨额资金加仓“牛市旗手”，顶流券商ETF（512000）20日吸金逾44亿元

Group 1 - The market is experiencing a downturn, with the brokerage sector adjusting alongside, as evidenced by the 300 billion top-tier brokerage ETF (512000) experiencing fluctuations and a real-time trading volume exceeding 800 million [1] - The brokerage ETF (512000) has seen a cumulative net inflow of over 4.4 billion in the past 20 days, with its latest fund size exceeding 37 billion and an average daily trading volume of over 1 billion this year, making it one of the largest and most liquid brokerage ETFs in the A-share market [1] - The upcoming third-quarter reports for listed brokerages are highly anticipated, with East China Securities suggesting that the brokerage sector may attract market attention due to strong performance during the reporting period, potentially leading to a "double hit" of valuation recovery and earnings growth [1] Group 2 - Huatai Securities indicates that multiple factors such as policy, funding, performance, and valuation are converging, marking a critical period to seize strategic recovery opportunities in the brokerage sector [1] - The capital market is undergoing profound reforms, entering a new phase of joint development in investment and financing, with a low-interest-rate environment accelerating the flow of institutional and retail funds into the equity market, continuously bringing in incremental capital [1] - The brokerage ETF (512000) and its linked fund (006098) passively track the CSI All Share Securities Company Index, encompassing 49 listed brokerage stocks, with nearly 60% of the portfolio concentrated in the top ten leading brokerages, while the remaining 40% includes smaller brokerages with high earnings elasticity [2]