券商板块迎政策松绑，赛道最低费率的券商ETF基金(515010)涨超3%

Group 1 - The three major indices collectively strengthened on December 8, with optical modules leading the gains, while state-owned coal and industrial metal concepts lagged behind [1] - The financial sector showed early strength due to policy catalysts, with the broker ETF fund (515010) rising by 3% and its constituent stocks like Industrial Securities hitting the daily limit [1] - The China Securities Regulatory Commission (CSRC) announced at the 8th Member Congress of the China Securities Association on December 6 that it would moderately expand the capital space and leverage limits for brokerages, shifting from price competition to value competition, benefiting the brokerage industry significantly [1] Group 2 - CITIC Securities anticipates a deep restructuring of the securities industry during the 14th Five-Year Plan, with 10 comprehensive institutions expected to lead the industry [1] - Securities companies are expected to achieve long-term development through organic growth and mergers and acquisitions, with asset allocation, comprehensive services, and international capabilities becoming key differentiators [1] - Two investment themes are suggested: 1) Leading securities companies aiming to compete with top international investment banks; 2) Mid-sized securities companies with potential to enter the top tier [1] Group 3 - The broker ETF fund (515010) tracks the securities company index (code 399975), with the top ten constituent stocks accounting for 59.88% of the index weight [2] - This product has the lowest combined management and custody fee rate of 0.2% among current market offerings, facilitating low-cost investment in the brokerage sector [2]