证券ETF（512880）收涨超0.6%，近5日净流入超3.4亿元，非银金融板块修复预期受关注

Core Viewpoint - The securities ETF (512880) has seen a rise of over 0.6% on December 26, with a net inflow of over 340 million yuan in the past five days, indicating a recovery expectation in the non-bank financial sector [1] Group 1: Non-Bank Financial Sector - The insurance sector within the non-bank financial industry is viewed as a key direction for asset allocation by residents, with expectations of increased premium income due to maturing bank deposits in the short term [1] - In the medium term, a strengthening stock market is anticipated to enhance investment returns for insurance equity investments, while rising interest rates under returning inflation will boost insurance bond yields [1] Group 2: Brokerage Sector - The brokerage sector is expected to experience valuation recovery driven by policy catalysts, with a focus on the expansion opportunities of leading brokerage firms [1] - The overall valuation recovery expectation for the securities industry is increasing due to enhanced policy support, particularly for leading brokerages that may further improve competitiveness through mergers and acquisitions [1] Group 3: Securities ETF Overview - The securities ETF (512880) tracks the securities company index (399975), which selects listed companies closely related to the securities market from the Shanghai and Shenzhen markets, covering core financial services such as brokerage, investment banking, and asset management [1] - This index has a high industry concentration and market representativeness, effectively tracking market dynamics within the securities industry [1]