央行：实施好适度宽松的货币政策，券商ETF（159842）连续3日“吸金”，长城证券飘红

Group 1 - The A-share market opened lower on November 12, with the securities sector also experiencing a slight decline [1] - The broker ETF (159842) saw a decrease of 0.51% with a trading volume exceeding 11 million yuan, while some constituent stocks like Changcheng Securities and Guotai Haitong performed positively [1] - The broker ETF has recorded net inflows for three consecutive days, accumulating over 210 million yuan in net inflows over the past five trading days [1] Group 2 - According to Shenwan Hongyuan Securities, the balance of margin trading is expected to rise due to the maintained moderately loose monetary policy and increased equity allocation by long-term funds [2] - Guotai Haitong Securities noted that the focus on brokers is returning to sustainable fundamentals, with future relative returns depending more on profit quality and ROE recovery [2] - Investment opportunities are suggested in stocks with improving ROE and still at low valuation levels, particularly those benefiting from better proprietary performance and recovery in wealth management and investment banking [2]