券商经纪业务延续较高景气度，证券ETF嘉实(562870)布局券商板块机会

Group 1 - The core viewpoint of the news highlights the positive performance and outlook for the brokerage industry, driven by increased market activity and supportive policies [1] - As of January 2026, the number of new margin trading accounts reached 190,500, a month-on-month increase of 29.5% and a year-on-year surge of 157% [1] - The A-share market saw 4.9158 million new accounts opened in January, reflecting a month-on-month growth of 89% and a year-on-year increase of 213%, indicating sustained high demand in brokerage services [1] - Major brokerages are expected to report strong earnings growth in 2025, with a notable recovery in performance compared to previous years, supported by a recovering equity market and increased capital market activity [1] - The brokerage industry is anticipated to benefit from a "slow bull" market environment and ongoing policy support for mergers and acquisitions, reinforcing the competitive advantage of leading brokerages [1] Group 2 - As of January 30, 2026, the top ten weighted stocks in the CSI All Share Securities Company Index accounted for 60.66% of the index, including major firms like Dongfang Caifu and CITIC Securities [2] - The securities ETF by Jiashi (562870) closely tracks the CSI All Share Securities Company Index, providing comprehensive coverage of the securities industry [3] - Investors without stock accounts can access brokerage sector opportunities through the Jiashi Securities ETF linked fund (016842) [4]