今日市场早盘震荡走高，三大指数小幅上涨，券商股盘中强势爆发，助力沪指突破3600点。 受盘面影响，深市同类规模最大的证券ETF（159841）早盘上涨2.14%再创年内新高，自7月16日以来， 基金份额增加了2.22亿份，净流入资金超2.3亿元。 2025年市场交投维持高位，叠加权益市场上行带来的基本面修复，是券商板块上涨的核心驱动因素，并 购重组主线新进展也是板块重要催化。在流动性适度宽松环境延续、资本市场环境持续优化、投资者信 心重塑等多方面因素共同推动下，证券板块景气度上行，中长期资金扩容预期进一步增强基本面改善预 期。 有机构表示，预计2025年二季度上市券商营业收入有望同比增长10%，归母净利润有望同比增长20%。 同时，伴随业绩改善、并购重组和再融资稳步推进，券商净资产规模有望持续增厚，ROE回升趋势或仍 未结束。经济基本面反弹和财富效应逐步释放，也有望加速资管业务修复进程。 另外，近日连续调整的银行板块，今日盘中也迎来反弹，银行ETF天弘（515290）早盘上涨1.22%。 在机构看来，在低利率+资产荒环境下，拥有较高分红水平、稳定ROE能力的红利类资产或仍具备较强 韧性与吸引力，有望在短期波动 ...

Group 1 - The A-share market showed strong performance today, with the Shanghai Composite Index reaching a new high for the year. The banking sector experienced significant gains, and the brokerage sector saw a sharp rise in the afternoon, with the largest securities ETF in the Shenzhen market (159841) increasing by over 1.6% and the Tianhong Bank ETF (515290) rising by over 2% [1] - The recent surge in interest for virtual asset licenses is notable, with Guotai Junan International becoming the first Chinese brokerage to obtain a virtual asset trading license in Hong Kong, followed by Tianfeng International, indicating a proactive approach by Chinese brokerages in emerging business areas [1] - Institutions suggest that Hong Kong's strategic commitment to developing virtual assets is clear, leveraging mature financial infrastructure and an international regulatory framework, leading to rapid growth in the virtual asset industry. Traditional financial institutions are enhancing their licensing and business layouts in response to this trend [1] Group 2 - In the banking sector, brokerages believe that in a low-interest-rate and asset-scarce environment, dividend-paying assets with stable ROE capabilities may remain resilient and attractive, potentially becoming important long-term investment options amid short-term market volatility. The recent reduction in reserve requirements and interest rates has opened up space for lower risk-free rates, highlighting the dividend value of state-owned banks [2] - The Tianhong Bank ETF (515290) reached a historical high in the secondary market today, marking three consecutive months of net inflows [2] - Investors can also access financial sector opportunities through securities ETF linked funds (Class A 008590; Class C 008591) and Tianhong Bank ETF linked funds (Class A 001594; Class C 001595) [2]