沪指突破十年新高！“旗手”迅速启动，两股涨停，顶流券商ETF（512000）放量涨逾3%！

Group 1 - The Shanghai Composite Index has broken through the peak from November 14, 2025, reaching a new high not seen since late July 2015, marking a historic 13 consecutive days of gains [1][8] - The brokerage sector, often seen as a "bull market flag bearer," has finally started to rally, with individual stocks like Huayin Securities and Huashan Securities hitting the daily limit, and Northeast Securities rising over 6% [1][8] - The top brokerage ETF (512000) surged over 3% in price, with nearly 1.5 billion yuan in trading volume within half a day, indicating high trading sentiment in the sector [1][8] Group 2 - According to Galaxy Securities, the government's policy goals of "stabilizing growth and the stock market" and "boosting the capital market" will continue to guide the future direction of the brokerage sector [3][10] - Factors such as a moderately loose liquidity environment, continuous optimization of the capital market, and the rebuilding of investor confidence are driving the improvement in the brokerage sector's performance [3][10] - As of January 5, the price-to-book ratio (PB) of the CSI All Share Securities Index tracked by the brokerage ETF (512000) was 1.52, which is at a low level historically, indicating a significant divergence from high growth performance [3][10] Group 3 - The brokerage ETF (512000) and its linked funds are efficient investment tools that passively track the CSI All Share Securities Index, encompassing 49 listed brokerage stocks [5][12] - The brokerage ETF (512000) has an average daily trading volume exceeding 1 billion yuan this year, making it one of the most liquid ETFs in the A-share market [5][12]