跟踪中证香港证券投资主题指数 该指数由港股通范围内属于资产 管理与托管银行、投资银行业与 经纪业的股票以及港交所作为指 数样本,反映港股通范围内证券 行业的整体表现 ▽日 该指数涨跌 该指数市净率 今日，A股金融板块逆势走强，截至收盘，沪深300非银行金融指数上涨0.6%，中证银行指数上涨0.5%，中证全指证券公司指数上涨0.4%，香港证券指数下 跌1.5%。 浙商证券研报指出，保险行业负债端景气，投资端有韧性；证券行业受益于市场活跃度提升，利润延续高增。非银板块当前兼具胜率与赔率，估值与业绩有 望形成戴维斯双击。 该指数自 发布以来们 1.1倍 68. 法! "该指数"指名上述基金产品具体规踪的指数,数据来自和ind,折敷溶媒概要至2025年10月10日收盘,市净率、估值分位截至2025年10月9日。市净率PBLE产Σ《成分股,总市值》/Σ《 告期LF）;该估值指标适用于固定资产费量较大月账面价值较为稳定的企业,或是盈利周期性波动的企业,估值分位指该指数历史上市净率低于当前市净率的时间占比,估值分位低表示相对 为报数发布日至2025年10月9日、中证全指证券公司报数2013年7月15日发布，中证银行报数20 ...

Market Performance - The CSI All Share Securities Company Index rose by 3.1%, while the CSI 300 Non-Bank Financial Index increased by 2.5% and the Hong Kong Securities Index went up by 0.9% [1] - The CSI Bank Index saw a modest increase of 0.5% [1] - The Hong Kong Securities ETF (513090) supported T+0 trading with a total trading volume of nearly 20 billion yuan, leading the market in stock-type ETFs [1] Fund Inflows - The Hong Kong Securities ETF experienced a continuous net inflow of funds, totaling over 1.7 billion yuan in the past week [1] Market Liquidity - According to招商证券国际, the stabilization of the Hong Kong dollar and the pause in net absorption by the Monetary Authority are contributing to a marginal improvement in liquidity in the Hong Kong stock market [1] - The significantly lower-than-expected U.S. non-farm payroll data for August has made a rate cut by the Federal Reserve in September almost certain, which is expected to further enhance liquidity in the Hong Kong market [1] - As a sector closely related to market liquidity, brokerage firms are anticipated to benefit from these developments [1]

Market Performance - The CSI All Share Securities Company Index increased by 3.1% this week, while the CSI Bank Index rose by 1.2% and the CSI 300 Non-Bank Financial Index gained 3.0%. In contrast, the Hong Kong Securities Index fell by 1.1% [1][3]. - The Hong Kong Securities ETF (513090) attracted over 2.2 billion yuan in inflows over four consecutive days this week, reaching a total size of over 29 billion yuan, marking a historical high [1]. Analyst Insights - Huatai Securities indicated that the current yield on equity assets is steadily rising, with resident funds gradually entering the market, suggesting a positive outlook for market upward momentum [1]. - The brokerage sector is considered undervalued and underweighted, entering a new phase of performance and valuation recovery in the new market environment, leading to expectations of value reassessment for the sector [1]. Index Metrics - The current price-to-book (P/B) ratio for the CSI All Share Securities Company Index is 1.6 times, while the CSI Bank Index stands at 0.7 times. The CSI 300 Non-Bank Financial Index also has a P/B ratio of 1.6 times [3][4]. - The P/B ratio percentiles indicate that the CSI All Share Securities Company Index is at the 43.9th percentile, while the CSI Bank Index is at the 40.6th percentile, suggesting relative valuation levels [3][4]. Historical Performance - Over the past month, the CSI All Share Securities Company Index has seen a cumulative increase of 11.0%, while the CSI Bank Index has decreased by 2.2% [6]. - Year-to-date, the CSI All Share Securities Company Index has risen by 13.4%, and the CSI Bank Index has increased by 11.2% [6].

Core Viewpoint - The securities sector is experiencing a significant rally, with major indices showing strong upward movement, indicating a robust market atmosphere and potential for continued growth in the sector [1]. Group 1: Market Performance - As of 14:30, the CSI All Share Securities Company Index rose by 3.1%, and the CSI 300 Non-Bank Financial Index increased by 2.7% [1]. - Notable stocks include Xinda Securities and Everbright Securities, which hit the daily limit, while GF Securities surged over 6% [1]. Group 2: User Engagement - In July, the monthly active users of securities service applications reached 167 million, reflecting a month-on-month increase of 3.36% from 161 million in June, which had a growth of 0.65% [1]. Group 3: Analyst Insights - Huatai Securities suggests that the current yield on equity assets is steadily increasing, with resident funds gradually entering the market, indicating optimism about the sustainability of market growth [1]. - The securities sector is viewed as undervalued and underweighted, entering a new phase of performance and valuation recovery in the current market environment [1]. Group 4: Investment Opportunities - The CSI All Share Securities Company Index focuses on leading securities firms, reflecting the overall performance of the A-share securities industry [1]. - The CSI 300 Non-Bank Financial Index consists of 27 stocks from capital markets, other financial sectors, and the insurance industry, with a significant proportion from the securities and insurance sectors [1]. - Securities ETFs, such as E Fund (512570) and Securities Insurance ETF (512070), track these indices, providing investors with opportunities to capitalize on the securities sector [1].

Market Performance - The China Securities Bank Index and Hong Kong Securities Index both increased by 0.6%, while the CSI 300 Non-Bank Financial Index decreased by 0.2%, and the CSI All Share Securities Company Index fell by 0.8% [1] - The Hong Kong Securities ETF (513090) had a trading volume of nearly 20 billion yuan today, with its scale increasing by nearly 13 billion yuan over the past month, reaching a latest scale of 28 billion yuan [1] ETF Overview - The E Fund Securities ETF (512570) tracks the CSI All Share Securities Company Index, which consists of 50 large-cap, liquid A-share stocks, reflecting the overall performance of the A-share securities industry. The index has a price-to-book ratio of 1.7 times and has seen a decline of 0.8% since its inception in 2013 [3] - The E Fund Bank ETF (516310) tracks the China Securities Bank Index, which includes 42 large-cap, liquid bank stocks, reflecting the overall performance of the A-share banking industry. The index has a price-to-book ratio of 0.7 times and has increased by 0.6% since its inception in 2013 [3] - The Securities and Insurance ETF (512070) tracks the CSI 300 Non-Bank Financial Index, which consists of 27 stocks from the CSI 300 Index, with over 35% of its composition from the insurance sector. The index has a price-to-book ratio of 1.6 times and has decreased by 0.2% since its inception in 2012 [3] - The Hong Kong Securities ETF (513090) tracks the CSI Hong Kong Securities Investment Theme Index, which includes stocks from the Hong Kong Stock Connect range, reflecting the overall performance of the securities industry within that scope. The index has a price-to-book ratio of 1.1 times and has increased by 0.6% since its inception in 2015 [3]

Market Performance - The market showed strong performance with the Shanghai Composite Index breaking a nearly 10-year high, and total net inflow into ETFs exceeding 4 billion yuan [1] - The CSI All Share Securities Companies Index-related ETFs attracted a net inflow of 2.32 billion yuan, leading the market [1] - The CSI Financial Technology Theme Index followed closely with nearly 1 billion yuan in net inflow [1] ETF Inflows - The top three indices by net inflow included the Securities Companies Index (2.32 billion yuan), Financial Technology Index (920 million yuan), and the SSE 50 Index (880 million yuan) [2] - Notable individual ETFs with significant net inflows were Hong Kong Securities ETF (513090) with 770 million yuan, ChiNext ETF (159915) with 640 million yuan, and Securities Insurance ETF (512070) with 480 million yuan [1] Market Sentiment - According to Industrial Securities, the market is experiencing a "healthy bull" phase driven by national strategic direction, supportive policies, and the continuous emergence of new growth momentum [1]

Market Performance - The CSI 300 Non-Bank Financial Index increased by 1.7% at midday, while the Hong Kong Securities Index rose by 1.6% [1] - The CSI All Share Securities Company Index saw a gain of 0.9%, and the CSI Bank Index increased by 0.3% [1] ETF Trading Activity - The Hong Kong Securities ETF (513090) recorded a trading volume exceeding 14 billion yuan at midday, making it the top-performing stock ETF [1] - As of yesterday, the latest scale of this ETF surpassed 25 billion yuan, marking a historical high [1] Index and ETF Details - The E Fund Securities ETF (512570) tracks the CSI All Share Securities Company Index, which consists of 50 major securities stocks reflecting the overall performance of the A-share securities industry [3] - The E Fund Bank ETF (516310) tracks the CSI Bank Index, comprising 42 major bank stocks, with a price-to-book ratio of 0.7 times and a valuation percentile of 39.5% [3] - The E Fund Securities Insurance ETF (512070) tracks the CSI 300 Non-Bank Financial Index, which includes 27 stocks from the CSI 300 Index, with over 35% representation from the insurance sector [3] - The Hong Kong Securities ETF (513090) tracks the CSI Hong Kong Securities Investment Theme Index, reflecting the overall performance of the securities industry within the Hong Kong Stock Connect range [3]

Group 1 - The Hong Kong Securities Index rose by 1.7%, while the CSI All Share Securities Companies Index and the CSI 300 Non-Bank Financial Index both increased by 0.5%, and the CSI Bank Index rose by 0.3% [1] - The Hong Kong Securities ETF (513090) has seen an average daily trading volume exceeding 16 billion yuan over the past month, ranking first among equity ETFs, with a net inflow of over 11 billion yuan, bringing its latest scale to 24.3 billion yuan, a record high [1] Group 2 - The E Fund Securities ETF (512570) tracks the CSI All Share Securities Companies Index, which consists of 50 large-cap, liquid stocks in the A-share securities industry, reflecting the overall performance of the A-share securities sector [3] - The E Fund Bank ETF (516310) tracks the CSI Bank Index, comprising 42 large-cap, liquid stocks in the A-share banking industry, reflecting the overall performance of the A-share banking sector [3] - The E Fund Securities Insurance ETF (512070) tracks the CSI 300 Non-Bank Financial Index, which includes 27 stocks from the CSI 300 Index related to capital markets, other financials, and the insurance industry, with over 35% representation from the insurance sector [3] - The Hong Kong Securities ETF (513090) tracks the CSI Hong Kong Securities Investment Theme Index, which includes stocks from the Hong Kong Stock Connect that belong to asset management, custodial banks, investment banks, and brokerage industries, reflecting the overall performance of the securities industry within the Hong Kong Stock Connect [3]

Market Performance - The Hong Kong Securities Index increased by 2.7% this week, while the China Securities Bank Index rose by 2.3%, the China Securities Company Index increased by 0.8%, and the CSI 300 Non-Bank Financial Index grew by 0.6% [1][3] - The average daily trading volume of the Hong Kong Securities ETF (513090) reached 12.5 billion yuan this week, ranking first among stock ETFs, with the latest scale reaching a historical high of 23.83 billion yuan [1] Index Metrics - The index price-to-book (PB) ratios are as follows: China Securities Company Index at 1.5x, China Bank Index at 0.7x, CSI 300 Non-Bank Financial Index at 1.6x, and the Hong Kong Securities Investment Theme Index at 1.1x [3] - The PB ratio percentiles indicate that the China Securities Company Index is at the 36.6th percentile, the China Bank Index at the 41.6th percentile, the CSI 300 Non-Bank Financial Index at the 29.0th percentile, and the Hong Kong Securities Investment Theme Index at the 68.1st percentile [3] Historical Performance - Over the past month, the cumulative performance of the indices is as follows: China Securities Company Index +4.9%, China Bank Index -4.0%, CSI 300 Non-Bank Financial Index +4.3%, and Hong Kong Securities Investment Theme Index +14.3% [8] - Year-to-date performance shows: China Securities Company Index +1.9%, China Bank Index +13.6%, CSI 300 Non-Bank Financial Index +4.5%, and Hong Kong Securities Investment Theme Index +47.9% [8] - The one-year cumulative performance indicates significant growth, with the Hong Kong Securities Investment Theme Index at +143.3%, while the China Securities Company Index is at +46.0% [8]

Group 1 - The core viewpoint of the news indicates that the banking and securities indices in China and Hong Kong have shown positive performance, with the Hong Kong Securities ETF experiencing significant net inflows [1] - The China Securities ETF (513090) has seen a net inflow of 11.7 billion yuan over the past month, bringing its total size to 23.55 billion yuan [1] - Huachuang Securities reports that listed brokerages that have released performance forecasts for the first half of 2025 have shown a net profit increase of over 50% year-on-year, highlighting potential investment opportunities in the sector due to supply-side reforms and industry consolidation [1] Group 2 - The China Banking Index and Hong Kong Securities Index both increased by 0.4%, while the CSI All Share Securities Companies Index rose by 0.04% [1] - The CSI 300 Non-Bank Financial Index decreased by 0.2%, indicating mixed performance across different financial sectors [1] - The Hong Kong Securities ETF (513090) had a trading volume exceeding 15 billion yuan today, reflecting strong market interest [1]