Core Viewpoint - The Chinese securities sector is experiencing a significant rally, driven by favorable trade negotiations and regulatory support, particularly benefiting brokerage firms and related ETFs [3][4]. Group 1: Market Performance - As of May 14, 2025, the CSI All Share Securities Company Index (399975) surged by 5.12%, with notable gains from stocks such as Hongta Securities (601236) and GF Securities (000776), both up by 10.01% [3]. - The Securities ETF (159841) increased by 5.09%, with a latest price of 1.01 yuan and a trading volume of 395 million yuan, indicating strong market activity [3]. - Over the past three months, the Securities ETF's scale grew by 2.70 million yuan, ranking it 1/12 among comparable funds [4]. Group 2: Trade Relations and Policy Impact - A joint statement from the U.S. and China announced a 90-day pause on new tariffs, with China reducing tariffs on U.S. goods to 10% and the U.S. lowering tariffs on Chinese goods to 30% [3]. - The implementation of counter-cyclical adjustment policies is expected to enhance market stability and boost the performance of the brokerage sector [4]. Group 3: Fund Performance and Metrics - As of May 13, 2025, the Securities ETF has achieved a net value increase of 22.01% over the past three years, ranking 320 out of 1753 in the index stock fund category [5]. - The ETF's management fee is set at 0.50%, with a custody fee of 0.10%, indicating a competitive cost structure [5]. - The ETF's tracking error over the past two months is just 0.007%, the highest tracking precision among comparable funds [5]. Group 4: Key Holdings - As of April 30, 2025, the top ten weighted stocks in the CSI All Share Securities Company Index accounted for 59.02% of the index, with major players including CITIC Securities (600030) and East Money (300059) [6].