（原标题：券商板块逆市飘红，证券ETF、券商ETF上涨） 周五A股主要指数集体大跌，沪指跌破3900点；截至收盘，沪指跌0.94%报3897点，深证成指跌2.7%，创业板指跌4.55%，科创50指数跌5.61%。 全市场成交额2.53万亿元，较前一交易日缩量1377亿元，超2700股上涨，超2500股下跌。 券商板块逆市飘红，证券ETF先锋、上证券商ETF、证券ETF龙头、证券ETF东财、证券公司ETF、证券ETF基金、证券ETF指数基金、证券ETF嘉 实、证券ETF富国、证券ETF龙头、证券ETF、券商ETF基金、券商ETF、证券ETF南方、证券ETF易方达、证券ETF建信逆势上涨。 证券ETF、券商ETF跟踪中证全指证券公司指数，高效配置券商板块，前十大权重股包括东方财富、中信证券、国泰海通、华泰证券、招商证 券、东方证券、广发证券、申万宏源、兴业证券、中金公司等。 9月，A股新开户数293.72万户，同比增长60.73%，为今年以来单月第二高，仅次于今年3月A股新开户数306.55万户。 具体来看，9月A股293.72万户中，个人新开户292.63万户，机构新开户1.09万户，这属于今年以来机构新开户首 ...

专题：A股专业选手实战大赛丨十大热股榜 【全榜单】专业选手"实战大赛"TOP榜：股票组榜首收益率剑指200% 新浪财经主办、银华基金独家合作的"第二届金麒麟最佳投资顾问评选"活动火热进行中！超3000名专业 投顾模拟组合火热PK中！ 金麒麟最佳投资顾问评选活动旨在为投资顾问提供一个展示形象、扩围服务、提升能力的舞台，为优秀 投资顾问与大众投资人搭建沟通对话的桥梁，助推中国财富管理行业健康发展。 10月10日场内ETF组十大买入次数榜如下： | 排名 | 股票代码 | 股票名称 | | --- | --- | --- | | 1 | sh588200 | 科创芯片ETF | | 2 | sh512880 | 证券ETF | | 3 | sh513090 | 香港证券ETF | | 4 | sh513310 | 中韩半导体ETF | | 5 | sz159949 | 创业板50ETF | | 6 | sh515220 | 煤炭ETF | | 7 | sh512000 | 券商ETF | | 8 | sh512400 | 有色金属ETF | | 9 | sz159842 | 券商ETF | | 10 | sz159 ...

A股市场成交活跃，沪指时隔逾10年再站上3900点！ | 证券代码 | 证券简称 | 下半年流入额(亿元) | 管理人 | | --- | --- | --- | --- | | 512880.OF | 证券ETF | 238.19 | 国泰基金 | | 513090.0F | 香港证券ETF | 213.09 | 易方达基金 | | 512000.OF | 券商ETF | 110.27 | 花鸟音等 | | 159842.0F | 券商ETF | 37.49 | 铝花草等 | | 159841.0F | 证券ETF | 35.65 | 天弘基金 | | 159993.0F | 证券ETF龙头 | 16.08 | 腿花耳朵 | | 560090.OF | 证券ETF龙头 | 7.28 | 汇添富基金 | | 512900.OF | 证券ETF南方 | 6.22 | 南方基金 | | 512570.0F | 证券ETF易方达 | 4.99 | 易方达基金 | | 159692.0F | 证券ETF东财 | 4.56 | 西藏东财基金 | | 515010.OF | 券商ETF基金 | 3.37 | 花直音等 | ...

人民财讯10月10日电，市场续创新高，股票ETF也迎来大量资金净申购。昨日股票ETF市场总份额增加 94.87亿份，按照成交均价测算，净流入资金约为121.24亿元。细分品类中，行业主题ETF与港股市场 ETF净流入居前，分别达118.78亿元与16.59亿元。从指数维度看，证券公司指数ETF单日净流入居前， 达30.37亿元。此外，新能源、有色金属、沪深300指数、半导体等指数ETF昨日净流入资金较多。从单 只产品看，证券ETF净流入16.91亿元，位居单日资金净流入榜首位；电池ETF、沪深300ETF、创业板 ETF净流入资金均超10亿元，分别位列第二至第四位。 （文章来源：中国基金报） ...

| | | | 10月9日股票ETF涨幅排行 | | | | --- | --- | --- | --- | --- | --- | | 排行 | 证券简称 | 成交额 | 当日涨跌幅 | 最新规模 | 基金管理人 | | | | (亿元) | (%) | (亿元) | | | 1 | 黄金股票ETF | 0.53 | 10.03 | 1.97 | 华安事等 | | 2 | 黄金股ETF基金 | 0.71 | 10.01 | 1.21 | 工银瑞信基金 | | 3 | 黄金股票ETF | 0.83 | 9.47 | 3.37 | 国泰重金 | | 4 | 黄金股票ETF基金 | 0.28 | 9.32 | 0.93 | 平安基金 | | 5 | A JETF | 0.73 | 9.30 | 0.72 | 指陶量金 | | 6 | 黄金股ETF | 7.96 | 8.99 | 116.69 | 永赢星金 | | 7 | 黄金股ETF | 1.83 | 8.95 | 24.09 | 不意真关 | | 8 | 有色龙头ETF | 1.71 | 8.90 | 3.47 | 学宝真金 | | 9 | 有色ETF基金 | ...

Core Insights - The report presents two industry rotation models: one based on similar expected return differentials and another based on changes in analyst expectations, both aimed at identifying investment opportunities in various sectors [11][22]. Group 1: Similar Expected Return Differential Model - The latest configuration suggests focusing on sectors such as coal, communication, basic chemicals, automotive, real estate, and machinery [21]. - In September 2025, the model achieved a monthly return of +4.56%, outperforming the equal-weighted industry index by +3.66% [21]. - The historical backtest from December 2016 to September 2025 shows that the model has a mean Information Coefficient (IC) of 0.09, indicating strong selection ability [14][15]. Group 2: Analyst Expectation Change Model - The latest configuration highlights sectors including non-bank financials, non-ferrous metals, agriculture, communication, steel, and computers [33]. - In September 2025, the model recorded a monthly return of +1.03%, with an excess return of +0.13% over the equal-weighted industry index [33]. - The historical backtest from December 2016 to September 2025 indicates a mean IC of 0.06, demonstrating significant industry selection capability [23][24]. Group 3: ETF Portfolio Construction - The recommended ETF portfolio for October 2025 includes sectors such as non-bank financials, non-ferrous metals, communication, basic chemicals, and automotive [35]. - Specific ETFs listed include the Huabao CSI All-Share Securities Company ETF and the Southern CSI Non-Ferrous Metals ETF, among others, with significant fund shares [35].

【导读】9月份，超千亿元资金涌入股票ETF 中国基金报记者 若晖 国庆中秋长假后第一个交易日，上证指数时隔十年再次突破3900点关口。而在9月份，股票 ETF市场迎来超千亿元资金进场布局。 从资金流向上看，跟踪港股通互联网指数、证券指数的ETF月度资金净流入超过百亿元，跟踪 中证A500指数、电池指数、黄金股指数的相关ETF也有较大的资金净流入。 股票ETF9月"吸金"超千亿元 9月最后一个交易日，股票ETF市场再现百亿元资金净流入，推动当月股票ETF资金净流入突 破千亿元大关。 据银河证券基金研究中心数据统计，股票ETF市场9月份合计"吸金"1113.64亿元。其中，9 月29日、9月30日，也就是9月最后两个交易日，连续出现百亿元级的资金净流入，分别为 123.51亿元、118.83亿元。 仅从9月30日看，债券与行业主题ETF净流入居前，分别达68.11亿元和67.48亿元。具体到 指数维度，跟踪中证短融指数的ETF资金净流入居前，达50.58亿元；跟踪上证50指数的ETF 净流出居前，达10.55亿元。从最近5个交易日角度观测，资金流入跟踪中证A500指数的ETF 超211亿元，流入跟踪半导体材料设备 ...

Core Viewpoint - The A-share market has shown a fluctuating upward trend since September, but the brokerage sector is still undergoing adjustments, with a decline of 4.73% in the brokerage index for the month despite a significant rise of nearly 5% on September 29 [1][5]. Group 1: Market Performance - The Shanghai Composite Index, Shenzhen Component Index, and ChiNext Index increased by 0.64%, 6.54%, and 12.04% respectively from September 1 to September 30 [4]. - The brokerage sector's index experienced a notable drop of 4.73% during September, but rebounded with a 4.89% increase on September 29, with several major brokerages hitting their daily limit [5][6]. Group 2: Fund Inflows - From September 1 to September 29, the Guotai Junan ETF attracted over 10 billion yuan in net inflows, making it the top-performing stock ETF for the month [1][5]. - The Huabao Brokerage ETF and Tianhong Securities ETF also saw significant inflows of 6.03 billion yuan and 2.52 billion yuan respectively, ranking among the top stock ETFs [1][5]. - Cumulatively, ETFs with "securities" or "brokerage" in their names saw a total net inflow of 26.61 billion yuan since September [5][6]. Group 3: Future Outlook - Analysts predict that the brokerage sector will benefit from a dual boost of improved performance and valuation recovery, especially as market activity increases and policy support remains strong [9][10]. - The average daily trading volume in the A-share market has surged to 2.1 trillion yuan, reflecting a 211% increase compared to the third quarter of 2024 [9]. - Forecasts suggest that the brokerage sector's net profit could increase by approximately 48% year-on-year by the third quarter of 2025, with a return on equity (ROE) expected to rise by 1.8 percentage points to 7.7% [9][10]. Group 4: Investment Opportunities - The brokerage sector is currently viewed as undervalued, with active equity funds holding only 0.64% of their portfolios in brokerage stocks, the lowest level since 2018 [11]. - The current price-to-book (PB) ratio for the A-share brokerage sector stands at 1.60, which is in the 39th percentile since 2014, indicating potential for valuation recovery [11]. - Investment strategies should focus on high-quality brokerages with strong wealth management and international business capabilities, as well as mid-sized brokerages with lower valuations [12].

Core Viewpoint - The A-share market has shown a fluctuating upward trend since September, with the brokerage sector experiencing ongoing adjustments, despite a significant surge on September 29, where the brokerage index rose nearly 5% [1][4]. Group 1: Market Performance - The brokerage index recorded a decline of 4.73% throughout September, despite the notable increase on September 29 [1][4]. - The overall A-share market indices, including the Shanghai Composite Index, Shenzhen Component Index, and ChiNext Index, saw increases of 0.64%, 6.54%, and 12.04% respectively during the same period [4]. - Certain sectors, such as precious metals and semiconductors, outperformed with gains exceeding 25%, while sectors like office supplies and insurance saw declines of over 5% [4]. Group 2: Fund Inflows - From September 1 to September 29, the Guotai Junan Securities ETF attracted over 10 billion yuan in net inflows, making it the top-performing stock ETF for the month [1][5]. - Other ETFs, including Huabao Securities ETF and Tianhong Securities ETF, also saw significant inflows of 6.03 billion yuan and 2.52 billion yuan respectively [1][5]. - Overall, ETFs related to "securities" or "brokerage" accumulated a total net inflow of 26.61 billion yuan since September [5][6]. Group 3: Future Outlook - Analysts suggest that the brokerage sector is likely to continue experiencing dual improvements in performance and valuation, driven by active market trading and favorable policies [5][9]. - The average daily trading volume in the A-share market has increased significantly, reaching 2.1 trillion yuan, which is a 211% increase compared to the second quarter of 2024 [8]. - Predictions indicate that the net profit of the brokerage sector could see a year-on-year increase of approximately 48% by the third quarter of 2025, with a return on equity (ROE) expected to rise to 7.7% [8][9]. Group 4: Investment Strategies - Investment strategies should focus on high-quality brokerage firms with strong wealth management and international business capabilities, as well as undervalued mid-sized brokerages [10]. - The recent policy guidance aims to foster a robust investment banking environment, suggesting a long-term positive outlook for the capital market [10].

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 9月以来，A股延续震荡上行走势。券商板块的调整却还未结束。 9月29日，券商指数大涨了近5%，但整个9月，该指数的跌幅仍然达到4.73%。 不过，券商板块调整过程中，资金借道主题ETF加速流入，显示出部分投资者对券商板块的乐观情绪。 据Wind数据统计，9月1日—9月29日，国泰证券ETF的吸金规模超过100亿元，为当月净流入金额最大的一只股票ETF。 华宝券商ETF、天弘证券ETF分别吸引了60.30亿元、25.23亿元净流入资金，亦排在股票ETF前列。 当前，市场比较关注的是，低估值叠加高景气的券商板块后续将如何演绎，投资机会在哪里？ 证券ETF强势吸金 Wind数据显示，9月1日—9月30日，上证指数、深证成指、创业板指分别上涨了0.64%、6.54%、12.04%。 21世纪经济报道记者 易妍君 同期，A股行业板块继续分化。贵金属、电工电网、电脑硬件、精细化工、半导体指数分别涨逾25%、20%、17%、13%、12%，领涨Wind中 国行业指数；而办公用品、保险、银行、航天军工、多元金融指数的跌幅均超过5%，为表现较差的5个行业 ...