Early trading, the brokerage plate continued to be weak shock, intraday low close to the 20-day moving average (Bollinger belt middle rail), continued to shrink. Constituent stocks rose or declined slightly, while Great Wall Securities, Zhongtai Securities and Huatai fell at the front.
As of press time, market popularity and wind direction brokerage ETF (512000) fell 0.56%, with a turnover of 350 million yuan. The premium is obvious in the process of weak shock, Level-2 market shows that the brokerage ETF (512000) in early trading net purchase funds of more than 125 million yuan.
[mainstream institutions are bullish on the brokerage sector]
Recently, Xun Yugen, chief economist of Haitong, suggestedAttach importance to the relatively undervalued large finance, from the four angles of rise and fall, valuation quantile, fund position and trading ratio, the large financial sector is relatively safe.As the steady growth policy gradually increases, from broad currency to broad credit, the sector is expected to usher in valuation repair.
Societe Generale Securities believes that in the coming stage, the market will enter a wave of index-level rise. Since late October, market turnover has returned to more than one trillion yuan. In the future, as the New year market continues to deduce, the market transaction is expected to remain active, and will further promote the securities market. In the past decade, during the period of "New year market" or "spring restlessness", the brokerage plate is basically not absent.
The current PE valuation of the brokerage sector is in the 11% quantile since 2011, at the bottom of the region. At present, the allocation position of the brokerage plate in the market is still not high, and it still belongs to the "place with few people".With the interpretation of the New year's market, securities firms are expected to become an important direction of excess returns in the market game. In this new year's market, securities firms, as the carrier of market logic, are still at the bottom of the region, which is worth paying attention to and configuring.
[various funds plus securities stocks]
In fact, many institutions have also begun to layout brokerage stocks.
On November 4, the 10 billion private equity Ningquan assets at the helm of Yang Dong increased their holdings in 370000 H shares of Oriental Securities. Since then, Ningquan assets have accumulated 123 million shares of Oriental Securities H shares, with a market capitalization of about HK $736 million. Ningquan assets increased its holdings in a total of 10.2552 million shares of Oriental Securities H shares in the second half of the year.
Over a long period of time, Ningquan assets also increased its holdings of Central Plains Securities, Guotai Junan Securities, CSC FINANCIAL CO.,LTD and other brokerage shares in the Hong Kong stock market this year.
And public active equity funds also bought a large number of brokerage stocks in the third quarter.
According to Oriental Securities statistics, by calculating the details of heavy positions of flexible configuration, partial stock and ordinary stock public offering funds, as of 21Q3, the proportion of public heavy positions in the brokerage sector (except Oriental Wealth) accounted for 0.61%, and the month-on-month 21Q2 of 0.11% significantly bottomed out.
In addition, northward funds have recently bought a large number of Oriental Wealth. Since November, by the close of November 25, the cumulative net purchase volume has reached 3.642 billion yuan, ranking second only to the Ningde era.
[brokerage ETF (512000) has a continuous net inflow of 117 million yuan in the past two days]
The brokerage sector has performed poorly this year, with the index of securities companies down 9.41% for the year as of November 25.
Market sentiment wind direction standard securities firm ETF (512000) is favored by funds. According to the latest data released by the Shanghai Stock Exchange on November 25th, the latest fund share of the brokerage ETF (512000) reached 22.458 billion on that day.The latest estimated size is 24.199 billion yuan, ranking second in the ETF scale of all industries in the Shanghai and Shenzhen stock markets.
As of November 25, the ETF share of securities firms has increased in the last two trading days in a row.The ETF share of securities firms has increased by a total of 108 million in the last two trading days, and the continuous net inflow of funds has totaled 117 million yuan.
On November 25th, the latest daily financing purchases of brokerage ETF (512000) reached 143 million yuan, while the latest financing balance of ETF reached 1.927 billion yuan on that day, which is at an all-time high.
Brokerage ETF (512000) tracks the CSI securities company index, covering all the brokerage stocks listed on the market for more than half a year, a total of 50. According to the latest data on the official website of the China Securities Index Company, the top five weights account for 46%, and the top 10 account for 62%. 60% of positions are concentrated in the top 10 leading securities firms, sharing the long-term value of the strong ones. Another 40% of positions take into account the high flexibility of the performance of small and medium-sized securities firms, which is an efficient investment tool for centralized layout of head securities firms and small and medium-sized securities firms at the same time.
[risk Tip] the underlying index tracked by the brokerage ETF is the CSI all Index Securities Company Index (399975). The base date of the CSI Securities Company Index is June 29, 2007, released on July 15, 2013. the historical performance of the index is based on the simulation of the current component stock structure of the index. Its index stocks may change, and its historical performance does not predict the future performance of the index. Any information that appears in this article (including but not limited to individual stocks, comments, forecasts, charts, indicators, theories, any form of expression, etc.) is for reference only and the investor is responsible for any discretionary investment behavior. In addition, any views, analyses and forecasts in this article do not constitute any form of investment advice to the reader, and the Company is not responsible for any direct or indirect losses arising from the use of the contents of this article. The investment of the fund is risky, and the past performance of the fund does not represent its future performance. Money fund investment is not the same as bank deposits, does not guarantee a certain profit, nor does it guarantee the minimum return.