On November 10, the brokerage sector continued its sideways consolidation, with the A-share leading brokerage ETF (512000) edging up 0.17% intraday. Individual stocks showed mixed performance: Northeast Securities surged over 4%, Xiangcai Co., Ltd. gained over 3%, and Dongxing Securities rose over 2%. CITIC Securities, Guohai Securities, and Huatai Securities also traded in positive territory.
Since early November, A-share market volatility has intensified. However, multiple capital market indicators remain robust. As of November 8, the average daily trading volume for Q4 reached 2.13 trillion yuan, up 15.5% year-over-year. Year-to-date 2025 average daily turnover stands at 1.7 trillion yuan, a 95.8% annual increase.
In investment banking, four IPOs raised 4.05 billion yuan last week, while five newly listed companies raised 3.59 billion yuan. Since 2025, 92 A-share IPOs have raised 93.76 billion yuan.
Margin trading data shows outstanding balances exceeding 2.47 trillion yuan as of November 6, up 59.46% from 2024's daily average. Short-selling balances totaled 18.305 billion yuan, accounting for 0.73% of total margin positions.
Huatai Securities notes that multi-dimensional business improvements underpin brokers' solid fundamentals, with current sector valuations remaining attractive. China Merchants Securities highlights that brokerages continue benefiting from structural bull market conditions despite lagging the broader rally, warranting increased allocation attention.
Founders Securities observes better-than-expected Q3 earnings and anticipates valuation recovery in Q4, driven by capital rotation, long-term institutional inflows, and sustained fundamental growth.
For brokerage sector exposure, the Brokerage ETF (512000) and its feeder funds (Class A 006098; Class C 007531) track the CSI All Share Securities Companies Index, providing diversified exposure to 49 listed brokers with focus on industry leaders while including mid/small-cap firms.
Caution: Recent market volatility may persist. Short-term performance doesn't guarantee future results. Investors should assess personal risk tolerance and manage positions prudently.
Data source: SSE/SZSE.
Risk disclosure: The ETF tracks the CSI All Share Securities Companies Index (base date: 2007.6.29; launch date: 2013.7.15). The index gained 16.55%, -4.95%, -27.37%, 3.04%, and 27.26% annually from 2020-2024. Constituent changes follow index methodology, and historical performance doesn't indicate future returns. Stock mentions aren't investment recommendations or reflections of fund holdings. Fund risk rating: R3 (moderate), suitable for balanced (C3) or higher risk-profile investors. All information serves as reference only—investors bear full responsibility for independent decisions. No content constitutes investment advice, nor shall liability attach for direct/indirect losses from its use. Past fund performance doesn't predict future results, and other funds' returns don't guarantee this product's performance. Invest with caution.
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