健全中小投资者保护机制，券商ETF基金(515010)回调或迎布局机会

Core Viewpoint - The A-share market experienced a collective adjustment on November 7, with the chemical sector showing strength while the securities sector remained weak, indicating a divergence in sector performance amid regulatory changes aimed at enhancing investor protection and promoting high-quality development in the capital market [1]. Group 1: Market Performance - The three major A-share indices collectively adjusted, with the securities ETF (515010) declining by 0.7% and major holdings like Northeast Securities and Xiangcai Securities dropping over 2% [1]. - The financial technology ETF (516100) fell by 1.75%, with significant declines in holdings such as Shenzhou Information, which dropped over 7% [1]. Group 2: Regulatory Developments - The China Securities Regulatory Commission (CSRC) issued opinions to strengthen the protection of small and medium investors, signaling a commitment to enhance investor protection and encourage listed companies to improve returns [1]. - The Financial Street Forum 2025 outlined the direction for capital market reforms, focusing on improving foundational systems and expanding openness to promote high-quality development [1]. Group 3: Analyst Insights - Shanxi Securities noted that with the improvement of policies and the implementation of various financing reforms, there is potential for some brokerages to explore overseas business growth and achieve steady performance through differentiated competitive advantages [1]. - The recommendation is to pay attention to investment opportunities within the securities sector as these reforms take effect [1]. Group 4: Related Products - The securities ETF (515010) tracks the securities company index (399975) and has a low management and custody fee rate of 0.2%, making it an attractive option for investors looking to capitalize on the recovery of the A-share market [2]. - The financial technology ETF (516100) closely follows the CSI Financial Technology Theme Index, covering software development, internet finance, and digital currency, and is expected to benefit from both market recovery and AI-related catalysts [2].