Market Overview - The A-share market is currently experiencing a volatile consolidation phase, with structural trends continuing to emerge. The ChiNext Index and the Shanghai Composite Index have seen slight adjustments, while growth indices like the North Star 50 and the Science and Technology Innovation 50 have faced larger declines [1] Industry Performance - Cyclical sectors such as non-ferrous metals and petroleum and petrochemicals are leading the market, while consumer and real estate sectors are showing weak performance [1] ETF Expansion - The expansion of the Science and Technology Innovation Board (STAR Market) ETFs is accelerating, with the total number of STAR Market ETFs reaching 80 and total scale exceeding 250 billion yuan, marking a nearly 60% increase since the policy announcement [2] - New products are covering key areas such as artificial intelligence, chip design, and new energy, providing important tools for directing funds towards "hard technology" sectors [2] - The expansion of STAR Market ETFs enhances liquidity in the sector and reduces individual stock volatility through diversified investment [2] Broker-Themed Funds - Broker-themed funds have recently become market highlights, with an average return rate exceeding 3% since June, and over half of the products achieving a net value growth rate above 4% [3] - The deepening of capital market reforms and expectations for mergers and acquisitions are providing catalysts for the sector, while the valuation of brokerage stocks has become attractive after previous adjustments [3] - Leading brokerages are expected to release performance elasticity during market recovery, particularly those with significant wealth management and investment banking business exposure [3]