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2024-02-05

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2024-02-02

$蘋果(AAPL)$ just sent him

2024-01-02

；/

The financing margin will be lowered soon, and the investment side reform is on the way? Funds continue to diverge from the market, and the brokerage ETF (512000) gained another 150 million yuan in a single day

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Funds continue to diverge from the market, and the brokerage ETF (512000) gained another 150 million yuan in a single day","url":"https://stock-news.laohu8.com/highlight/detail?id=2365004897","media":"新浪基金","summary":"近期券商板块行情与资金面走势背离，一方面是行情持续震荡筑底，另一方面资金积极进场布局。上交所数据显示，券商ETF昨日再获资金净流入1.49亿元，近4日资金连续净流入合计达1.27亿元；拉长时间看，券商ETF近10日资金净流入8日，累计获增仓7.13亿元。此举旨在通过逆周期调节机制，活跃资本市场，促进融资融券业务功能发挥。　　看好券商板块行情持续性的投资者可以重点关注券商ETF。","content":"<p><html><body><div>Recently, the market of the brokerage sector has deviated from the trend of funds. On the one hand, the market continues to fluctuate and bottom out, and on the other hand, funds are actively entering the market. According to data from the Shanghai Stock Exchange, the brokerage ETF (512000) received another net inflow of 149 million yuan yesterday, and the total net inflow of funds in the past four days reached 127 million yuan; Looking at the long-term, the brokerage ETF (512000) has had a net inflow of funds in the past 10 days on the 8th day, with a cumulative increase of 713 million yuan in positions.</p><p><div><img src=\"http://n.sinaimg.cn/finance/transform/271/w550h521/20230907/7899-7ca8c39991ace8e05efa9ecb6e5abf09.png\"/></div>On the news side, according to the \"Detailed Rules for the Implementation of Margin Financing and Securities Lending Transactions\" revised by the China Securities Regulatory Commission and the Shanghai-Shenzhen-Beijing Stock Exchange, since the market closed this Friday (September 8th), the minimum proportion of financing margin when investors buy securities by financing has been reduced from 100% to 80%. This move aims to activate the capital market and promote the function of margin financing and securities lending business through counter-cyclical adjustment mechanism.</p><p>Market participants believe that moderately reducing the margin ratio will expand the tradable scale of market stock investors, reduce investors' transaction costs, increase the total supply and demand of the securities market, and attract incremental funds to enter the market, which will help improve the liquidity of the market.</p><p>According to the calculation of Kaiyuan Securities, regardless of the demand side, it is expected that the upper limit of the financing scale of securities firms will increase by 25% (supply side) based on the 20% reduction of the financing margin ratio, driving the overall net profit of listed securities firms to increase by 13%.</p><p>In addition, yesterday, the China Securities Regulatory Commission held a summary meeting on thematic education, emphasizing resolutely implementing the important deployment of \"activating the capital market and boosting investor confidence\"; Jiao Jinhong, chief lawyer of China Securities Regulatory Commission, attended the second session<span><a href=\"https://laohu8.com/S/000402\">Financial Street</a></span><span></span>The asset management forum stated that a new round of deepening reform and opening up in the capital market has begun, and efforts are being made to formulate and implement the action plan for the reform of the investment side of the capital market and the action plan for the construction of a modern industrial system for capital market services.</p><p>The high-level position is positive, the goal of \"activating the capital market\" is inevitable, and the policy cycle may be far from over. With the further acceleration of the reform of the investment side of the capital market, more policies to attract medium and long-term funds into the market are expected to be gradually introduced, which may continue to benefit the brokerage sector.</p><p>As of now, the brokerage sector (<span>CSI All-Index Securities Company Index</span><span></span>) The latest price-to-book ratio PB is 1.36 times, which is located at the 15.23% quantile in the past 10 years. Compared with the valuation center of 1.77 times, there is more than 30% room for repair. The margin of safety and cost performance are still relatively high.</p><p><div><img src=\"http://n.sinaimg.cn/finance/transform/798/w550h248/20230907/7dae-71c80602f37063ce7973d6ee185afef5.png\"/></div>　　<span><a href=\"https://laohu8.com/S/600958\">Orient Securities</a></span><span></span>It is suggested that the urgency of the policy and the determination of the regulatory authorities are obvious to all. With the support of a strong \"policy bottom\", the brokerage sector is still a cost-effective choice in the current market, or it may be reflected in limited downside space and outstanding upward flexibility.</p><p>Investors who are optimistic about the sustainability of the brokerage sector can focus on the brokerage ETF (512000). According to public information, the brokerage ETF (512000) tracks the CSI All-Index Securities Company Index, including 50 listed brokerage stocks with one click, of which nearly 60% of the positions are concentrated in the top ten leading brokerages, and the leaders of \"big asset management\" + \"big investment bank\" gather together; In addition, 40% of the positions take into account the high performance flexibility of small and medium-sized securities firms, absorbing the characteristics of periodic high explosion of small and medium-sized securities firms, and are high-efficiency investment tools that focus on the layout of leading securities firms while taking into account small and medium-sized securities firms.</p><p><div><img src=\"http://n.sinaimg.cn/finance/transform/59/w550h309/20230907/fdfa-d7f7519b7c291fd1b43bc5571bf57b8a.png\"/></div>Data source: Shanghai and Shenzhen Stock Exchanges.</p><p>Risk warning: Brokerage ETFs passively track the CSI All-Index Securities Company Index. The base date of the index is 2007.6.29 and was released on 2013.7.15. The composition of index constituent stocks shall be adjusted in due course according to the index compilation rules. The constituent stocks of the index in this article are for display only, and the description of individual stocks is not intended as any form of investment advice, nor does it represent the position information and trading trends of any funds under the manager. The risk level of the fund assessed by the fund manager is R3-medium risk, which is suitable for investors with suitability rating C3 or above. Any information appearing 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 investors are responsible for any independently determined investment behavior. In addition, any opinions, analysis and predictions in this article do not constitute any form of investment advice to readers, nor are we responsible for direct or indirect losses caused by the use of the content of this article. Fund investment is risky, the past performance of the fund does not represent its future performance, and the performance of other funds managed by the fund manager does not constitute a guarantee of the performance of the fund. Fund investment needs to be cautious.</p><p><div><span>Now I'll send you a red envelope in 60 yuan, and it's not a routine to withdraw cash directly. Participate in the activity to collect it</span></div><div><div><img src=\"\"/></div><div>Massive information and accurate interpretation, all in Sina Finance APP</div></div>Editor in charge: Yang Ci</p><p></div></body></html></p>","source":"sina","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The financing margin will be lowered soon, and the investment side reform is on the way? Funds continue to diverge from the market, and the brokerage ETF (512000) gained another 150 million yuan in a single day</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe financing margin will be lowered soon, and the investment side reform is on the way? Funds continue to diverge from the market, and the brokerage ETF (512000) gained another 150 million yuan in a single day\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">新浪基金</strong><span class=\"h-time small\">2023-09-07 09:24</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><body><div>Recently, the market of the brokerage sector has deviated from the trend of funds. On the one hand, the market continues to fluctuate and bottom out, and on the other hand, funds are actively entering the market. According to data from the Shanghai Stock Exchange, the brokerage ETF (512000) received another net inflow of 149 million yuan yesterday, and the total net inflow of funds in the past four days reached 127 million yuan; Looking at the long-term, the brokerage ETF (512000) has had a net inflow of funds in the past 10 days on the 8th day, with a cumulative increase of 713 million yuan in positions.</p><p><div><img src=\"http://n.sinaimg.cn/finance/transform/271/w550h521/20230907/7899-7ca8c39991ace8e05efa9ecb6e5abf09.png\"/></div>On the news side, according to the \"Detailed Rules for the Implementation of Margin Financing and Securities Lending Transactions\" revised by the China Securities Regulatory Commission and the Shanghai-Shenzhen-Beijing Stock Exchange, since the market closed this Friday (September 8th), the minimum proportion of financing margin when investors buy securities by financing has been reduced from 100% to 80%. This move aims to activate the capital market and promote the function of margin financing and securities lending business through counter-cyclical adjustment mechanism.</p><p>Market participants believe that moderately reducing the margin ratio will expand the tradable scale of market stock investors, reduce investors' transaction costs, increase the total supply and demand of the securities market, and attract incremental funds to enter the market, which will help improve the liquidity of the market.</p><p>According to the calculation of Kaiyuan Securities, regardless of the demand side, it is expected that the upper limit of the financing scale of securities firms will increase by 25% (supply side) based on the 20% reduction of the financing margin ratio, driving the overall net profit of listed securities firms to increase by 13%.</p><p>In addition, yesterday, the China Securities Regulatory Commission held a summary meeting on thematic education, emphasizing resolutely implementing the important deployment of \"activating the capital market and boosting investor confidence\"; Jiao Jinhong, chief lawyer of China Securities Regulatory Commission, attended the second session<span><a href=\"https://laohu8.com/S/000402\">Financial Street</a></span><span></span>The asset management forum stated that a new round of deepening reform and opening up in the capital market has begun, and efforts are being made to formulate and implement the action plan for the reform of the investment side of the capital market and the action plan for the construction of a modern industrial system for capital market services.</p><p>The high-level position is positive, the goal of \"activating the capital market\" is inevitable, and the policy cycle may be far from over. With the further acceleration of the reform of the investment side of the capital market, more policies to attract medium and long-term funds into the market are expected to be gradually introduced, which may continue to benefit the brokerage sector.</p><p>As of now, the brokerage sector (<span>CSI All-Index Securities Company Index</span><span></span>) The latest price-to-book ratio PB is 1.36 times, which is located at the 15.23% quantile in the past 10 years. Compared with the valuation center of 1.77 times, there is more than 30% room for repair. The margin of safety and cost performance are still relatively high.</p><p><div><img src=\"http://n.sinaimg.cn/finance/transform/798/w550h248/20230907/7dae-71c80602f37063ce7973d6ee185afef5.png\"/></div>　　<span><a href=\"https://laohu8.com/S/600958\">Orient Securities</a></span><span></span>It is suggested that the urgency of the policy and the determination of the regulatory authorities are obvious to all. With the support of a strong \"policy bottom\", the brokerage sector is still a cost-effective choice in the current market, or it may be reflected in limited downside space and outstanding upward flexibility.</p><p>Investors who are optimistic about the sustainability of the brokerage sector can focus on the brokerage ETF (512000). According to public information, the brokerage ETF (512000) tracks the CSI All-Index Securities Company Index, including 50 listed brokerage stocks with one click, of which nearly 60% of the positions are concentrated in the top ten leading brokerages, and the leaders of \"big asset management\" + \"big investment bank\" gather together; In addition, 40% of the positions take into account the high performance flexibility of small and medium-sized securities firms, absorbing the characteristics of periodic high explosion of small and medium-sized securities firms, and are high-efficiency investment tools that focus on the layout of leading securities firms while taking into account small and medium-sized securities firms.</p><p><div><img src=\"http://n.sinaimg.cn/finance/transform/59/w550h309/20230907/fdfa-d7f7519b7c291fd1b43bc5571bf57b8a.png\"/></div>Data source: Shanghai and Shenzhen Stock Exchanges.</p><p>Risk warning: Brokerage ETFs passively track the CSI All-Index Securities Company Index. The base date of the index is 2007.6.29 and was released on 2013.7.15. The composition of index constituent stocks shall be adjusted in due course according to the index compilation rules. The constituent stocks of the index in this article are for display only, and the description of individual stocks is not intended as any form of investment advice, nor does it represent the position information and trading trends of any funds under the manager. The risk level of the fund assessed by the fund manager is R3-medium risk, which is suitable for investors with suitability rating C3 or above. Any information appearing 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 investors are responsible for any independently determined investment behavior. In addition, any opinions, analysis and predictions in this article do not constitute any form of investment advice to readers, nor are we responsible for direct or indirect losses caused by the use of the content of this article. Fund investment is risky, the past performance of the fund does not represent its future performance, and the performance of other funds managed by the fund manager does not constitute a guarantee of the performance of the fund. Fund investment needs to be cautious.</p><p><div><span>Now I'll send you a red envelope in 60 yuan, and it's not a routine to withdraw cash directly. Participate in the activity to collect it</span></div><div><div><img src=\"\"/></div><div>Massive information and accurate interpretation, all in Sina Finance APP</div></div>Editor in charge: Yang Ci</p><p></div></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://finance.sina.com.cn/money/fund/etf/2023-09-07/doc-imzkvxmn3611473.shtml\">新浪基金</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"159001":"保证金","159842":"券商ETF","512000":"券商ETF"},"source_url":"https://finance.sina.com.cn/money/fund/etf/2023-09-07/doc-imzkvxmn3611473.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/b0d1b7e8843deea78cc308b15114de44","article_id":"2365004897","content_text":"近期券商板块行情与资金面走势背离，一方面是行情持续震荡筑底，另一方面资金积极进场布局。上交所数据显示，券商ETF（512000）昨日再获资金净流入1.49亿元，近4日资金连续净流入合计达1.27亿元；拉长时间看，券商ETF（512000）近10日资金净流入8日，累计获增仓7.13亿元。\n\n　　消息面上，根据证监会和沪深北交易所修订的《融资融券交易实施细则》，自本周五（9月8日）收市后，投资者融资买入证券时的融资保证金最低比例由100%降低至80%。此举旨在通过逆周期调节机制，活跃资本市场，促进融资融券业务功能发挥。\n　　市场人士认为，适度降低保证金比例，将扩大市场存量投资者可交易的规模，降低投资者的交易成本，增加证券市场的总供给和总需求，同时吸引增量资金入场有利于提高市场的流动性。\n　　根据开源证券测算，不考虑需求侧，以融资保证金比例下调20%计算，预计券商融出规模上限将增加25%（供给侧），拉动上市券商整体净利润增长13%。\n　　此外，昨日证监会召开主题教育总结会议，强调坚决贯彻“要活跃资本市场，提振投资者信心”的重要部署；证监会首席律师焦津洪在第二届金融街资管论坛上表示，资本市场新一轮深化改革开放已经拉开帷幕，正抓紧制定实施资本市场投资端改革行动方案和资本市场服务建设现代化产业体系行动方案。\n　　高层表态积极，“活跃资本市场”目标势在必得，政策周期或远未结束，随着资本市场投资端改革进一步加速，更多吸引中长期资金入市的政策有望逐步推出，或将持续利好券商板块。\n　　截至目前，券商板块（中证全指证券公司指数）最新市净率PB为1.36倍，位于近10年15.23%分位点，较估值中枢1.77倍有超30%的修复空间，安全边际和性价比仍较高。\n\n　　东方证券提示，政策的急迫性与监管层的决心有目共睹，在强“政策底”的支撑下券商板块仍是当前市场的高性价比选择，或体现为下行空间有限而向上弹性突出。\n　　看好券商板块行情持续性的投资者可以重点关注券商ETF（512000）。公开资料显示，券商ETF（512000）跟踪中证全指证券公司指数，一键囊括50只上市券商股，其中近6成仓位集中于十大龙头券商，“大资管”+“大投行”龙头齐聚；另外4成仓位兼顾中小券商的业绩高弹性，吸收了中小券商阶段性高爆发特点，是集中布局头部券商、同时兼顾中小券商的高效率投资工具。\n\n　　数据来源：沪深交易所。\n　　风险提示：券商ETF被动跟踪中证全指证券公司指数，该指数基日为2007.6.29，发布于2013.7.15。指数成份股构成根据该指数编制规则适时调整。文中指数成份股仅作展示，个股描述不作为任何形式的投资建议，也不代表管理人旗下任何基金的持仓信息和交易动向。基金管理人评估的本基金风险等级为R3-中风险，适合适当性评级C3以上投资者。任何在本文出现的信息（包括但不限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，投资人须对任何自主决定的投资行为负责。另，本文中的任何观点、分析及预测不构成对阅读者任何形式的投资建议，亦不对因使用本文内容所引发的直接或间接损失负任何责任。基金投资有风险，基金的过往业绩并不代表其未来表现，基金管理人管理的其他基金的业绩并不构成基金业绩表现的保证，基金投资需谨慎。\n\n现在送您60元红包，直接提现不套路。快参与活动来领取\n\n\n\n海量资讯、精准解读，尽在新浪财经APP\n\n责任编辑：杨赐","news_type":1,"symbols_score_info":{"159001":1,"159842":1,"512000":1}},"isVote":1,"tweetType":1,"viewCount":1766,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":270563069653152,"gmtCreate":1707093229406,"gmtModify":1707093233728,"author":{"id":"4167172225335822","authorId":"4167172225335822","name":"PrinceYing","avatar":"https://community-static.tradeup.com/news/b3279b8627f51161418b5ba8b2fce99c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4167172225335822","idStr":"4167172225335822"},"themes":[],"htmlText":"23249","listText":"23249","text":"23249","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/270563069653152","repostId":"2409811690","repostType":2,"isVote":1,"tweetType":1,"viewCount":1764,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":269761151246416,"gmtCreate":1706868708877,"gmtModify":1706868912542,"author":{"id":"4167172225335822","authorId":"4167172225335822","name":"PrinceYing","avatar":"https://community-static.tradeup.com/news/b3279b8627f51161418b5ba8b2fce99c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4167172225335822","idStr":"4167172225335822"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/AAPL\">$蘋果(AAPL)$&nbsp;</a>&nbsp; just sent him","listText":"<a href=\"https://ttm.financial/S/AAPL\">$蘋果(AAPL)$&nbsp;</a>&nbsp; just sent him","text":"$蘋果(AAPL)$ just sent him","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/269761151246416","isVote":1,"tweetType":1,"viewCount":2057,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":258624257310976,"gmtCreate":1704174736092,"gmtModify":1704175132852,"author":{"id":"4167172225335822","authorId":"4167172225335822","name":"PrinceYing","avatar":"https://community-static.tradeup.com/news/b3279b8627f51161418b5ba8b2fce99c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4167172225335822","idStr":"4167172225335822"},"themes":[],"htmlText":"；/","listText":"；/","text":"；/","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/258624257310976","repostId":"2365004897","repostType":2,"repost":{"id":"2365004897","kind":"news","pubTimestamp":1694049840,"share":"https://ttm.financial/m/news/2365004897?lang=en_US&edition=fundamental","pubTime":"2023-09-07 09:24","market":"sh","language":"zh","title":"The financing margin will be lowered soon, and the investment side reform is on the way? Funds continue to diverge from the market, and the brokerage ETF (512000) gained another 150 million yuan in a single day","url":"https://stock-news.laohu8.com/highlight/detail?id=2365004897","media":"新浪基金","summary":"近期券商板块行情与资金面走势背离，一方面是行情持续震荡筑底，另一方面资金积极进场布局。上交所数据显示，券商ETF昨日再获资金净流入1.49亿元，近4日资金连续净流入合计达1.27亿元；拉长时间看，券商ETF近10日资金净流入8日，累计获增仓7.13亿元。此举旨在通过逆周期调节机制，活跃资本市场，促进融资融券业务功能发挥。　　看好券商板块行情持续性的投资者可以重点关注券商ETF。","content":"<p><html><body><div>Recently, the market of the brokerage sector has deviated from the trend of funds. On the one hand, the market continues to fluctuate and bottom out, and on the other hand, funds are actively entering the market. According to data from the Shanghai Stock Exchange, the brokerage ETF (512000) received another net inflow of 149 million yuan yesterday, and the total net inflow of funds in the past four days reached 127 million yuan; Looking at the long-term, the brokerage ETF (512000) has had a net inflow of funds in the past 10 days on the 8th day, with a cumulative increase of 713 million yuan in positions.</p><p><div><img src=\"http://n.sinaimg.cn/finance/transform/271/w550h521/20230907/7899-7ca8c39991ace8e05efa9ecb6e5abf09.png\"/></div>On the news side, according to the \"Detailed Rules for the Implementation of Margin Financing and Securities Lending Transactions\" revised by the China Securities Regulatory Commission and the Shanghai-Shenzhen-Beijing Stock Exchange, since the market closed this Friday (September 8th), the minimum proportion of financing margin when investors buy securities by financing has been reduced from 100% to 80%. This move aims to activate the capital market and promote the function of margin financing and securities lending business through counter-cyclical adjustment mechanism.</p><p>Market participants believe that moderately reducing the margin ratio will expand the tradable scale of market stock investors, reduce investors' transaction costs, increase the total supply and demand of the securities market, and attract incremental funds to enter the market, which will help improve the liquidity of the market.</p><p>According to the calculation of Kaiyuan Securities, regardless of the demand side, it is expected that the upper limit of the financing scale of securities firms will increase by 25% (supply side) based on the 20% reduction of the financing margin ratio, driving the overall net profit of listed securities firms to increase by 13%.</p><p>In addition, yesterday, the China Securities Regulatory Commission held a summary meeting on thematic education, emphasizing resolutely implementing the important deployment of \"activating the capital market and boosting investor confidence\"; Jiao Jinhong, chief lawyer of China Securities Regulatory Commission, attended the second session<span><a href=\"https://laohu8.com/S/000402\">Financial Street</a></span><span></span>The asset management forum stated that a new round of deepening reform and opening up in the capital market has begun, and efforts are being made to formulate and implement the action plan for the reform of the investment side of the capital market and the action plan for the construction of a modern industrial system for capital market services.</p><p>The high-level position is positive, the goal of \"activating the capital market\" is inevitable, and the policy cycle may be far from over. With the further acceleration of the reform of the investment side of the capital market, more policies to attract medium and long-term funds into the market are expected to be gradually introduced, which may continue to benefit the brokerage sector.</p><p>As of now, the brokerage sector (<span>CSI All-Index Securities Company Index</span><span></span>) The latest price-to-book ratio PB is 1.36 times, which is located at the 15.23% quantile in the past 10 years. Compared with the valuation center of 1.77 times, there is more than 30% room for repair. The margin of safety and cost performance are still relatively high.</p><p><div><img src=\"http://n.sinaimg.cn/finance/transform/798/w550h248/20230907/7dae-71c80602f37063ce7973d6ee185afef5.png\"/></div>　　<span><a href=\"https://laohu8.com/S/600958\">Orient Securities</a></span><span></span>It is suggested that the urgency of the policy and the determination of the regulatory authorities are obvious to all. With the support of a strong \"policy bottom\", the brokerage sector is still a cost-effective choice in the current market, or it may be reflected in limited downside space and outstanding upward flexibility.</p><p>Investors who are optimistic about the sustainability of the brokerage sector can focus on the brokerage ETF (512000). According to public information, the brokerage ETF (512000) tracks the CSI All-Index Securities Company Index, including 50 listed brokerage stocks with one click, of which nearly 60% of the positions are concentrated in the top ten leading brokerages, and the leaders of \"big asset management\" + \"big investment bank\" gather together; In addition, 40% of the positions take into account the high performance flexibility of small and medium-sized securities firms, absorbing the characteristics of periodic high explosion of small and medium-sized securities firms, and are high-efficiency investment tools that focus on the layout of leading securities firms while taking into account small and medium-sized securities firms.</p><p><div><img src=\"http://n.sinaimg.cn/finance/transform/59/w550h309/20230907/fdfa-d7f7519b7c291fd1b43bc5571bf57b8a.png\"/></div>Data source: Shanghai and Shenzhen Stock Exchanges.</p><p>Risk warning: Brokerage ETFs passively track the CSI All-Index Securities Company Index. The base date of the index is 2007.6.29 and was released on 2013.7.15. The composition of index constituent stocks shall be adjusted in due course according to the index compilation rules. The constituent stocks of the index in this article are for display only, and the description of individual stocks is not intended as any form of investment advice, nor does it represent the position information and trading trends of any funds under the manager. The risk level of the fund assessed by the fund manager is R3-medium risk, which is suitable for investors with suitability rating C3 or above. Any information appearing 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 investors are responsible for any independently determined investment behavior. In addition, any opinions, analysis and predictions in this article do not constitute any form of investment advice to readers, nor are we responsible for direct or indirect losses caused by the use of the content of this article. Fund investment is risky, the past performance of the fund does not represent its future performance, and the performance of other funds managed by the fund manager does not constitute a guarantee of the performance of the fund. Fund investment needs to be cautious.</p><p><div><span>Now I'll send you a red envelope in 60 yuan, and it's not a routine to withdraw cash directly. Participate in the activity to collect it</span></div><div><div><img src=\"\"/></div><div>Massive information and accurate interpretation, all in Sina Finance APP</div></div>Editor in charge: Yang Ci</p><p></div></body></html></p>","source":"sina","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The financing margin will be lowered soon, and the investment side reform is on the way? Funds continue to diverge from the market, and the brokerage ETF (512000) gained another 150 million yuan in a single day</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe financing margin will be lowered soon, and the investment side reform is on the way? Funds continue to diverge from the market, and the brokerage ETF (512000) gained another 150 million yuan in a single day\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">新浪基金</strong><span class=\"h-time small\">2023-09-07 09:24</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><body><div>Recently, the market of the brokerage sector has deviated from the trend of funds. On the one hand, the market continues to fluctuate and bottom out, and on the other hand, funds are actively entering the market. According to data from the Shanghai Stock Exchange, the brokerage ETF (512000) received another net inflow of 149 million yuan yesterday, and the total net inflow of funds in the past four days reached 127 million yuan; Looking at the long-term, the brokerage ETF (512000) has had a net inflow of funds in the past 10 days on the 8th day, with a cumulative increase of 713 million yuan in positions.</p><p><div><img src=\"http://n.sinaimg.cn/finance/transform/271/w550h521/20230907/7899-7ca8c39991ace8e05efa9ecb6e5abf09.png\"/></div>On the news side, according to the \"Detailed Rules for the Implementation of Margin Financing and Securities Lending Transactions\" revised by the China Securities Regulatory Commission and the Shanghai-Shenzhen-Beijing Stock Exchange, since the market closed this Friday (September 8th), the minimum proportion of financing margin when investors buy securities by financing has been reduced from 100% to 80%. This move aims to activate the capital market and promote the function of margin financing and securities lending business through counter-cyclical adjustment mechanism.</p><p>Market participants believe that moderately reducing the margin ratio will expand the tradable scale of market stock investors, reduce investors' transaction costs, increase the total supply and demand of the securities market, and attract incremental funds to enter the market, which will help improve the liquidity of the market.</p><p>According to the calculation of Kaiyuan Securities, regardless of the demand side, it is expected that the upper limit of the financing scale of securities firms will increase by 25% (supply side) based on the 20% reduction of the financing margin ratio, driving the overall net profit of listed securities firms to increase by 13%.</p><p>In addition, yesterday, the China Securities Regulatory Commission held a summary meeting on thematic education, emphasizing resolutely implementing the important deployment of \"activating the capital market and boosting investor confidence\"; Jiao Jinhong, chief lawyer of China Securities Regulatory Commission, attended the second session<span><a href=\"https://laohu8.com/S/000402\">Financial Street</a></span><span></span>The asset management forum stated that a new round of deepening reform and opening up in the capital market has begun, and efforts are being made to formulate and implement the action plan for the reform of the investment side of the capital market and the action plan for the construction of a modern industrial system for capital market services.</p><p>The high-level position is positive, the goal of \"activating the capital market\" is inevitable, and the policy cycle may be far from over. With the further acceleration of the reform of the investment side of the capital market, more policies to attract medium and long-term funds into the market are expected to be gradually introduced, which may continue to benefit the brokerage sector.</p><p>As of now, the brokerage sector (<span>CSI All-Index Securities Company Index</span><span></span>) The latest price-to-book ratio PB is 1.36 times, which is located at the 15.23% quantile in the past 10 years. Compared with the valuation center of 1.77 times, there is more than 30% room for repair. The margin of safety and cost performance are still relatively high.</p><p><div><img src=\"http://n.sinaimg.cn/finance/transform/798/w550h248/20230907/7dae-71c80602f37063ce7973d6ee185afef5.png\"/></div>　　<span><a href=\"https://laohu8.com/S/600958\">Orient Securities</a></span><span></span>It is suggested that the urgency of the policy and the determination of the regulatory authorities are obvious to all. With the support of a strong \"policy bottom\", the brokerage sector is still a cost-effective choice in the current market, or it may be reflected in limited downside space and outstanding upward flexibility.</p><p>Investors who are optimistic about the sustainability of the brokerage sector can focus on the brokerage ETF (512000). According to public information, the brokerage ETF (512000) tracks the CSI All-Index Securities Company Index, including 50 listed brokerage stocks with one click, of which nearly 60% of the positions are concentrated in the top ten leading brokerages, and the leaders of \"big asset management\" + \"big investment bank\" gather together; In addition, 40% of the positions take into account the high performance flexibility of small and medium-sized securities firms, absorbing the characteristics of periodic high explosion of small and medium-sized securities firms, and are high-efficiency investment tools that focus on the layout of leading securities firms while taking into account small and medium-sized securities firms.</p><p><div><img src=\"http://n.sinaimg.cn/finance/transform/59/w550h309/20230907/fdfa-d7f7519b7c291fd1b43bc5571bf57b8a.png\"/></div>Data source: Shanghai and Shenzhen Stock Exchanges.</p><p>Risk warning: Brokerage ETFs passively track the CSI All-Index Securities Company Index. The base date of the index is 2007.6.29 and was released on 2013.7.15. The composition of index constituent stocks shall be adjusted in due course according to the index compilation rules. The constituent stocks of the index in this article are for display only, and the description of individual stocks is not intended as any form of investment advice, nor does it represent the position information and trading trends of any funds under the manager. The risk level of the fund assessed by the fund manager is R3-medium risk, which is suitable for investors with suitability rating C3 or above. Any information appearing 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 investors are responsible for any independently determined investment behavior. In addition, any opinions, analysis and predictions in this article do not constitute any form of investment advice to readers, nor are we responsible for direct or indirect losses caused by the use of the content of this article. Fund investment is risky, the past performance of the fund does not represent its future performance, and the performance of other funds managed by the fund manager does not constitute a guarantee of the performance of the fund. Fund investment needs to be cautious.</p><p><div><span>Now I'll send you a red envelope in 60 yuan, and it's not a routine to withdraw cash directly. Participate in the activity to collect it</span></div><div><div><img src=\"\"/></div><div>Massive information and accurate interpretation, all in Sina Finance APP</div></div>Editor in charge: Yang Ci</p><p></div></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://finance.sina.com.cn/money/fund/etf/2023-09-07/doc-imzkvxmn3611473.shtml\">新浪基金</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"159001":"保证金","159842":"券商ETF","512000":"券商ETF"},"source_url":"https://finance.sina.com.cn/money/fund/etf/2023-09-07/doc-imzkvxmn3611473.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/b0d1b7e8843deea78cc308b15114de44","article_id":"2365004897","content_text":"近期券商板块行情与资金面走势背离，一方面是行情持续震荡筑底，另一方面资金积极进场布局。上交所数据显示，券商ETF（512000）昨日再获资金净流入1.49亿元，近4日资金连续净流入合计达1.27亿元；拉长时间看，券商ETF（512000）近10日资金净流入8日，累计获增仓7.13亿元。\n\n　　消息面上，根据证监会和沪深北交易所修订的《融资融券交易实施细则》，自本周五（9月8日）收市后，投资者融资买入证券时的融资保证金最低比例由100%降低至80%。此举旨在通过逆周期调节机制，活跃资本市场，促进融资融券业务功能发挥。\n　　市场人士认为，适度降低保证金比例，将扩大市场存量投资者可交易的规模，降低投资者的交易成本，增加证券市场的总供给和总需求，同时吸引增量资金入场有利于提高市场的流动性。\n　　根据开源证券测算，不考虑需求侧，以融资保证金比例下调20%计算，预计券商融出规模上限将增加25%（供给侧），拉动上市券商整体净利润增长13%。\n　　此外，昨日证监会召开主题教育总结会议，强调坚决贯彻“要活跃资本市场，提振投资者信心”的重要部署；证监会首席律师焦津洪在第二届金融街资管论坛上表示，资本市场新一轮深化改革开放已经拉开帷幕，正抓紧制定实施资本市场投资端改革行动方案和资本市场服务建设现代化产业体系行动方案。\n　　高层表态积极，“活跃资本市场”目标势在必得，政策周期或远未结束，随着资本市场投资端改革进一步加速，更多吸引中长期资金入市的政策有望逐步推出，或将持续利好券商板块。\n　　截至目前，券商板块（中证全指证券公司指数）最新市净率PB为1.36倍，位于近10年15.23%分位点，较估值中枢1.77倍有超30%的修复空间，安全边际和性价比仍较高。\n\n　　东方证券提示，政策的急迫性与监管层的决心有目共睹，在强“政策底”的支撑下券商板块仍是当前市场的高性价比选择，或体现为下行空间有限而向上弹性突出。\n　　看好券商板块行情持续性的投资者可以重点关注券商ETF（512000）。公开资料显示，券商ETF（512000）跟踪中证全指证券公司指数，一键囊括50只上市券商股，其中近6成仓位集中于十大龙头券商，“大资管”+“大投行”龙头齐聚；另外4成仓位兼顾中小券商的业绩高弹性，吸收了中小券商阶段性高爆发特点，是集中布局头部券商、同时兼顾中小券商的高效率投资工具。\n\n　　数据来源：沪深交易所。\n　　风险提示：券商ETF被动跟踪中证全指证券公司指数，该指数基日为2007.6.29，发布于2013.7.15。指数成份股构成根据该指数编制规则适时调整。文中指数成份股仅作展示，个股描述不作为任何形式的投资建议，也不代表管理人旗下任何基金的持仓信息和交易动向。基金管理人评估的本基金风险等级为R3-中风险，适合适当性评级C3以上投资者。任何在本文出现的信息（包括但不限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，投资人须对任何自主决定的投资行为负责。另，本文中的任何观点、分析及预测不构成对阅读者任何形式的投资建议，亦不对因使用本文内容所引发的直接或间接损失负任何责任。基金投资有风险，基金的过往业绩并不代表其未来表现，基金管理人管理的其他基金的业绩并不构成基金业绩表现的保证，基金投资需谨慎。\n\n现在送您60元红包，直接提现不套路。快参与活动来领取\n\n\n\n海量资讯、精准解读，尽在新浪财经APP\n\n责任编辑：杨赐","news_type":1,"symbols_score_info":{"159001":1,"159842":1,"512000":1}},"isVote":1,"tweetType":1,"viewCount":1766,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}