The Securities ETF (159841) had a net subscription of over 180 million units last Friday, ranking first among the same category in the Shenzhen market. Institutions: The brokerage sector has both defensive and rebound capabilities

Last Friday (March 20), the Securities ETF (159841) performed outstandingly in the Shenzhen market, with a net subscription exceeding 180 million shares and a transaction volume of 357 million yuan, both ranking first among the same underlying assets. Despite the Shanghai Composite Index falling by 1.77%, the ETF's net flow rate over the past 20 days was 8.44%. Galaxy Securities pointed out that the current valuation of the brokerage sector is at a historical low, market activity is high, and it is expected that the transformation of wealth management and financial technology will drive the industry to improve ROE, possessing both defensive and rebound advantages