8月27日，AI引领市场向上节奏。上午刚过10点，两市成交额已突破万亿，预计全天成交额超2．6万 亿。 做多情绪蔓延，"旗手"盘中发力，A股顶流券商ETF（512000）早盘低开震荡，后突发直线猛拉，场内 价格一度涨逾1%，现涨0．78%。 当前A股券商板块处于低估低配，公募新规下补涨逻辑持续；截至目前，43家上市券商中仅4只个股突 破去年9月后至今高位，且A股券商相对于H股券商已明显滞涨。 数据显示，近期市场资金借道ETF持续增仓券商板块。上交所数据显示，券商ETF（512000）近10日有 7日获资金增仓，合计获净流入超27亿元，最新基金规模超310亿元！ 有行情，买券商！公开资料显示，券商ETF（512000）及其联接基金（A类 006098；C类007531）被动 跟踪中证全指证券公司指数，一键囊括49只上市券商股，其中近6成仓位集中于十大龙头券商，"大资 管"+"大投行"龙头齐聚；另外4成仓位兼顾中小券商的业绩高弹性，吸收了中小券商阶段性高爆发特 点，是集中布局头部券商、同时兼顾中小券商的高效率投资工具。 板块个股多数走强，第一创业涨超7%，首创证券、天风证券涨超3%，太平洋、光大证券、东方财富等 ...

近日，全市场ETF规模站上新台阶，引发市场热议。Wind数据显示，截至8月25日，全市场ETF规模首 度突破5万亿元，达到5.07万亿元。规模超百亿元的ETF数量已超过100只，规模最大的超过4000亿元。 回顾ETF市场规模发展，从2004年12月第1只ETF产品问世，到如今ETF总规模突破5万亿元。每个万亿 元规模突破的时间不断缩短：第一个万亿元的突破花费近16年，第二个万亿元耗时近3年，第三个万亿 元用时约13个月，第四个万亿元用时约7个月，此番第五个万亿元的突破仅耗时4个多月。 ● 本报记者 张韵 股票型ETF规模占大头 全市场ETF规模一路走高的背后，产品数量也从1万亿元时的366只增加至1270余只。其中，股、债ETF 数量均大幅增加。 分类别看，股票型ETF占主流。Wind数据显示，截至8月25日，全市场1270余只ETF中接近八成是股票 型ETF。规模体量达3.46万亿元，在5.07万亿元ETF总规模中占比超过68%。 股基产品中，挂钩沪深300指数的ETF规模占据绝对优势。截至8月25日，挂钩沪深300指数的ETF规模 合计已超过1.1万亿元，相较于位居第二位的挂钩上证50指数的ETF规模1 ...

有行情，买券商！公开资料显示，券商ETF（512000）及其联接基金（A类 006098；C类007531）被动 跟踪中证全指证券公司指数，一键囊括49只上市券商股，其中近6成仓位集中于十大龙头券商，"大资 管"+"大投行"龙头齐聚；另外4成仓位兼顾中小券商的业绩高弹性，吸收了中小券商阶段性高爆发特 点，是集中布局头部券商、同时兼顾中小券商的高效率投资工具。 数据来源：沪深交易所等。 消息面上，沪指强势，持续刷新年内新高。市场成交活跃，两融余额升至2.1万亿以上，8月25日市场成 交额再突破3万亿，已经连续多日破2万亿。 中航证券表示，A股市场交投活跃度与两融余额同步上扬的背景下，券商作为资本市场的重要参与者， 正迎来多重业务机遇。 开源证券表示，市场交易活跃度持续抬升，两融规模扩张、权益自营加仓和海外业务高景气，有望带来 券商业绩超预期，投行、衍生品和公募业务等业务有望接续改善，板块估值仍在低位，机构欠配明显， 继续看好券商板块机会。 | 股票代码 | 股票简称 | 涨跌幅 | 权重 | | --- | --- | --- | --- | | 300059 | 东方财富 | 0.04% | 15.14% | ...

MACD金叉信号形成，这些股涨势不错！ 责任编辑：张恒星 (词)华宝基金 利等 19 好疯狂 资金连续 年内规模增长 6日流入 超74亿元 近32亿元 规模突破 IN 210 BET b 5 ...

8月25日早盘，市场交投情绪高涨，开盘不足半小时，两市成交额即超万亿元，有分析预计全天成交额 有望超3．3万亿。 作为与市场热度休戚与共的板块，券商显著受益于市场热度上行，近来人气迅速飙升，资金密集涌入布 局。上交所数据显示，A股顶流券商ETF（512000）上周5个交易日连续吸金，合计获净流入20．83亿 元，最新基金规模升至296.79亿元，创历史新高！ 华西证券指出，券商板块自4月以来缓步攀升，走势夯实，继续看好券商板块表现，短期行情可能加 速。 1. 估值来看，板块具备上行潜力 从历史分位数来看，当前A股券商自2015年以来的估值分位数均值为50.7%，整体仍处于合理区间，尚 未完全反映未来增长预期，板块仍具备一定的上行潜力。 1. 美联储降息预期强化，有望进一步提振券商板块 8月22日，美联储主席鲍威尔在杰克逊霍尔全球央行年会上表示，尽管仍存在通胀上行风险，但美联储 可能在未来几个月内实施降息。这一偏鸽派表态有望进一步强化全球流动性宽松预期，推动A股与港股 市场风险偏好提升，券商板块作为市场风向标有望持续受益。 截至最新，已有39家上市券商发布业绩预告、快报或中期报告，整体净利润同比增长86%，业绩 ...

8月22日，A股强势上攻，沪指午后一举突破3800点，霸气收涨1.45%，刷新2015年8月20日以来新高！ 两市成交额连续第8个交易日突破2万亿，刷新最长纪录。本周以来，沪指稳步向上，接连刷新阶段新 高，区间累计涨幅3.49%，创年内最佳单周表现，市场多头情绪持续升温。 "牛市旗手"立功不小，早盘券商异动助攻，午后二次点火，力挺大盘向上。A股顶流券商ETF （512000）场内价格反包收涨3.4%，全天成交额超23亿元，环比放量33%。 | | 代码 | 名称 | 内日图 | 现价 | 涨跌 | 涨跌幅 | | --- | --- | --- | --- | --- | --- | --- | | | 601788 | 光大证券 | | 20.78 c | 1.89 | 10.01% | | 2 | 601059 | 信达证券 | | 19.72 c | 1.79 | 9.98% | | 3 | 000776 | 广发证券 | | 22.42 c | 1.52 | 7.27% | | 4 | 601198 0 | 东兴证券 | | 12.54 c | 0.57 | 4.76% | | 5 | 601881 ...

周五（8月22日），A股全天震荡走高，沪指站上3800点续创十年新高，"旗手"鼎力助攻。交投连续火 爆，A股单日放量成交2.58万亿元，连续8日成交额破2万亿创历史纪录。盘面上，算力芯片大爆发，彻 底点燃"科技牛"，人工智能成为市场重要驱动，"AI双子星"携手再创新高！ 国产AI产业链全线井喷，寒武纪20CM涨停股价再创新高，总市值站上5200亿元！重点布局国产AI产业 链的科创人工智能ETF（589520）场内暴涨超8%继续刷新上市高点，全天放量成交。 光模块（CPO）等算力硬件午后明显反弹，新易盛、中际旭创再创历史新高，光模块含量超41%的创业 板人工智能同步刷新高，周线七连阳，同标的指数规模最大的创业板人工智能ETF（159363）场内收涨 5%再登上市新高！ 展望后市，摩根大通最近报告中表示，鉴于杠杆率和估值仍处于适度水平，料中国股市上涨动能将持 续，并估计潜在的资产轮动可能会为股市注入额外的14万亿元人民币流动性，约相当于流通市值的 16%。摩根大通分析师Katherine Lei在报告中写道，资产轮动和过剩流动性的上升是中国股市反弹的主 要驱动力。 招商证券认为，从当前居民资金入市的主要渠道来看， ...

Market Overview - A-shares experienced a significant breakthrough, with the Shanghai Composite Index reaching a nearly 10-year high and total market capitalization surpassing 100 trillion yuan for the first time [1][5] - Trading volume in the Shanghai and Shenzhen markets hit a new high for the year at 2.76 trillion yuan [1] AI and Technology Sector - The AI sector, particularly focused on optical modules, has become a new market leader, with the AI-themed ETF (159363) rising by 5.47% and reaching a new high [1][8] - The domestic AI industry chain is seeing increased investment, with the Science and Technology Innovation AI ETF (589520) also hitting a new high with a 3.58% increase [1][10] Financial Technology Sector - The Financial Technology ETF (159851) surged by 4.85%, with significant inflows of nearly 7 billion units, reflecting strong market confidence [3][7] - The index for financial technology has shown a year-to-date increase of 35.48%, outperforming other major indices [5][6] Brokerage Sector - The top brokerage ETF (512000) also reached new highs, with a trading volume of 32.29 billion yuan, indicating strong buying interest [1][13] - Recent earnings reports from major brokerages have shown double-digit growth, with some firms reporting increases exceeding 40% [15][18] Investment Outlook - Analysts suggest that the current market conditions, driven by policy support and increased liquidity, indicate a "healthy bull market" [2][7] - The financial technology sector is expected to benefit from ongoing improvements in liquidity and trading volumes, while the AI sector is poised for growth due to strong domestic demand and technological advancements [10][11]

Core Viewpoint - The A-share market is experiencing a significant bullish trend, with the Shanghai Composite Index surpassing its previous high from February 2021, reaching 3738.59 points, marking the highest level since August 2015 [1] Group 1: Market Performance - On August 18, the Shanghai Composite Index rose over 1%, crossing the 3731.69 point mark from February 2021 [1] - The top-performing broker ETF (512000) saw a peak increase of 2%, setting a new annual high, with real-time trading exceeding 1.8 billion yuan [1] - The trading volume for the broker ETF indicates strong buying interest, with a total transaction exceeding 1.8 billion yuan [1] Group 2: Key Stocks and Developments - Changcheng Securities led the current market rally, achieving a four-day consecutive limit-up [1] - Western Securities experienced a significant increase of over 6% following the approval of its acquisition of Guorong Securities on August 15 [1] Group 3: Broker Sector Insights - The current market is characterized as a "healthy bull" driven by national strategic directions, policy support, and the emergence of new growth drivers, which are enhancing market confidence and attracting new capital [2][3] - The broker sector is expected to benefit from increased market activity, with trading volumes consistently exceeding 1 trillion yuan since September of the previous year, and recently surpassing 2 trillion yuan [3] - The allocation to the broker sector remains low, indicating potential for significant returns as the market continues to evolve [4] Group 4: Valuation and Investment Strategy - The current price-to-earnings (PE) ratio for the broker sector is near its average since 2010, and the broker/bank PE ratio remains at a relatively low level compared to recent years [5] - Given the favorable valuation and low market participation, brokers are positioned as a key focus for future investments [6] - The top broker ETF (512000) tracks the CSI All Share Securities Companies Index, encompassing 49 listed broker stocks, with nearly 60% of its holdings concentrated in the top ten leading brokers [6]

Core Viewpoint - The surge in the A-share brokerage sector, led by the top-performing brokerage ETF (512000), indicates a strong market sentiment and optimism for future growth in the brokerage industry [1][2]. Group 1: Market Performance - The A-share brokerage ETF (512000) rose by 4.89%, reaching a new annual high, with a single-day trading volume of 2.747 billion yuan, marking a record for the year [1]. - Major stocks in the brokerage sector saw significant gains, with 31 stocks rising over 3%, including Changcheng Securities and Tianfeng Securities, which hit the daily limit [1]. - Dongfang Wealth, a leading brokerage, experienced a price increase of 9.85% with a trading volume of 44.212 billion yuan, attracting a net inflow of 7.079 billion yuan [3][4]. Group 2: Fund Inflows and Market Sentiment - The brokerage sector received a net inflow of 17.196 billion yuan, the highest among all industries, reflecting a positive outlook for the market [2]. - The ETF (512000) has a fund size exceeding 26.2 billion yuan, with an average daily trading volume of 837 million yuan, indicating strong liquidity and interest in the sector [7]. Group 3: Growth Drivers - The brokerage industry is expected to enter a new growth phase due to a "slow bull" market trend, with increased capital inflows likely to boost brokerage services such as brokerage, margin trading, asset management, and investment banking [2][4]. - The attractiveness of the equity market is increasing, which may enhance the performance elasticity of brokerages as self-managed equity allocation opportunities expand [2]. - Continuous improvement in asset quality and alleviation of valuation concerns are contributing to a favorable environment for the brokerage sector [2]. Group 4: Earnings Forecast - As of now, 31 listed brokerages have reported mid-year earnings forecasts, with all showing positive year-on-year growth in net profit, and 13 of them expected to double their profits [4][5]. - The projected net profit growth rates for several brokerages are notably high, with some firms like Huatu Securities and Guolian Minsheng forecasting increases of over 1000% [5]. Group 5: Historical Context and Valuation - Despite the recent gains, the brokerage sector's performance remains relatively low compared to historical standards, suggesting potential for further upside [4][6]. - The current price-to-book ratio (PB) for the brokerage index is 1.59, indicating that the sector is still at a relatively low valuation compared to the past decade [6].