Brokerage plate opened low in the morning after the horizontal market shock, only Xiangcai shares, Bank of China Securities, Guolian Securities three shares rose. Great Wall Securities, Jinlong shares and Oriental Securities led the decline.
As of press time, market popularity and wind direction brokerage ETF (512000) fell 0.56%, with a turnover of more than 420 million yuan. Intraday continued premium, funds to purchase enthusiastically, Level-2 market shows that the brokerage ETF (512000) intraday has been a net purchase of more than 189 million yuan.
Institutions: Securities firms benefit from the improvement in liquidity and pay attention to the double main line of "wealth management + registration system reform"
Zheng Jisha, chief analyst of China Merchants non-Bank, mentioned that with the rapid opening of the Beijing Stock Exchange, the hot trading sentiment in the capital market continued. The central bank recently released a report on the implementation of monetary policy for the third quarter, emphasizing that future monetary policy should be flexible, accurate and self-oriented, and constitute a better investment environment in terms of both micro-capital market trading sentiment and macro-monetary liquidity.As a typical liquidity-sensitive sector, securities firms will take the lead to benefit.
At the same time, it is generally believed that the sellerAt present, the investment main line of securities firms focusing on wealth management remains unchanged, and it is recommended to pay attention to companies with high "financial content".
For example, Zhao Yao, a non-banking analyst at Guosheng Securities, said that in November this year, the total size of public offering funds exceeded 24 trillion yuan, and the growth of public funds held by some listed securities firms was significantly higher than that of the industry, and the income from brokerage consignment continued to increase significantly. Fund investment pilot is hot. Wealth management is expected to remain the main line of brokerage development, and brokerages that give priority to pilot fund investment business and head public offering cooperation will still enjoy a premium on performance and valuation.
Zhao ran, chief analyst of non-bank finance and foresight research at CITIC Construction Investment Co., Ltd., believes thatInvestors should grasp the double main line of "wealth management + registration reform" and pay attention to securities firms with excellent public offering consignment / management ability, as well as securities firms with excellent underwriting ability of investment banks.At the demand level, the continuous entry of residents' wealth into the market is still the most important industry increment. Under the background of the obvious increase in the demand for equity allocation, the contribution of brokerage / asset management business to the performance of securities firms will gradually increase, thus boosting the overall valuation level of the brokerage plate. On the supply side, the comprehensive registration system and the establishment of the Northern Stock Exchange will further enrich the supply of the equity market, superimpose the CSRC's increasing requirements for the quality of listed companies, accelerate bad clearance, and iterate over high-quality objectives. the competitive advantage of securities firms with active pricing power will be further highlighted.
ETF (512000), a securities firm, has greatly increased its market share against the market.
After entering the fourth quarter, the brokerage plate continued to adjust, as of November 26, 41 A-share listed brokerage shares, only 6 share prices rose. From the trend of ETF (512000) net worth, it began to rise after hitting bottom in May, and reached a high point in mid-September, with net value reaching 1.234 at one time, but then started another downward cycle, which is currently hovering around 1.06.
However, behind the lukewarm secondary market, the securities firm ETF (512000) is quietly increasing its position by funds.
According to the latest data released by the Shanghai Stock Exchange on November 26th, the latest fund share of the brokerage ETF (512000) reached 22.712 billion, with the latest estimated size of 24.302 billion yuan, ranking second among all industries in the Shanghai and Shenzhen stock markets in terms of ETF scale! the latest daily net inflow of funds reached 273 million yuan on November 26th, and the net inflow of funds in the last three trading days totaled 391 million yuan.
Since November 26th, the share of brokerage ETF (512000) has increased by 2.271 billion since the fourth quarter, with a total net inflow of 2.446 billion yuan.
On November 26th, the latest daily financing purchase of brokerage ETF (512000) reached 137 million yuan, and the latest financing balance of ETF reached 1.949 billion yuan on that day, which reached a record high of nearly 4 days.
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.