牛市来了还没上车？上天天基金APP搜索777注册即可领500元券包，优选基金10元起投！限 量发放！先到先得！ 伴随公募三季报密集披露，绩优基金经理持仓动向备受市场关注。 10月27日，鹏华碳中和主题、永赢医药创新智选、中航机遇领航、安信新回报等多只"翻倍 基"披露三季报。其中，"翻倍基"大多布局了人工智能、算力、创新药等近年来比较热门的赛 道。 在前十大重仓股中，还涌现出多只"大牛股"。 记者注意到，伴随业绩表现亮眼，中航机遇领航三季度末规模达132.31亿元，较二季度末猛 增近12倍。永赢医药创新智选三季度末规模为78.29亿元，较二季度末增长157.28%。 韩浩：AI算力的成长空间依然很高 根据中航机遇领航最新发布的三季报，该基金主要布局AI算力产业链。截至三季度末，该基金 股票仓位为88.56%。 | 排名 | 证券代码 | 证券名称 | 持仓数量 | 持仓变动 | 持仓市值 | 持仓占比 | | --- | --- | --- | --- | --- | --- | --- | | 1 | 002837.SZ | 英维克 | 1612.67万股 | 1265.19万股 | 12.9亿元 | 9.7 ...

牛市来了还没上车？上天天基金APP搜索777注册即可领500元券包，优选基金10元起投！限 量发放！先到先得！ 大家好，今天全市场大涨，相信你们都挣钱了吧！不过美中不足的是，上证指数未能突破 4000点，就差临门一脚，稍微有一些遗憾！ 一起回顾下发生了什么事情。 10月27日，A股全天上涨， 沪指逼近4000点关口，继续刷新年内新高， 创业板指涨近2%。 截至收盘， 沪指涨1.18%，深成指涨1.51%，创业板指涨1.98%。 市场 共3361只个股上涨，63只个股涨停，1862只个股下跌。 | 880005 涨跌家数 | | | | --- | --- | --- | | 日中 | 涨停 | 53 | | 涨幅 | > 7% | 147 | | 张唱 | 5-7% | 141 | | 涨幅 | 3-5% | 341 | | 张唱 | 0-3% | 2733 | | 跌幅 | 0-3% | 1673 | | 跌幅 | 3-5% | 133 | | 跌幅 | 5-7% | 32 | | 跌幅 | > 7% | 24 | | 其中 | 跌停 | 15 | | 上涨家数 | | 3361 | | 下跌家数 | | ...

Core Viewpoint - The article highlights the recent bullish trend in the stock market, particularly focusing on the performance of technology stocks and cyclical sectors, with the Shanghai Composite Index nearing the 4000-point mark [3][4][8]. Technology Sector - Technology stocks showed strong performance, with semiconductor and computing power sectors leading the charge. Notable stocks include Xinyisheng, which rose by 8.27% to reach a historical high, and Zhongji Xuchuang, which increased by 3.34% [4][20]. - The consumer electronics sector also performed well, with companies like Wentai Technology and Dongshan Precision seeing significant gains [20][22]. Cyclical Sectors - The cyclical sectors experienced a rally, with steel, non-ferrous metals, coal, and electricity stocks all showing strong upward movement. The classic combination of "coal, steel, and electricity" was evident in the market [7][10]. - Steel stocks, such as Changbao Co. and Xinxing Ductile Iron Pipes, saw substantial increases, with some stocks reaching their daily limit up [11][14]. Market Performance - As of the morning close, the Shanghai Composite Index rose by 1.04%, the Shenzhen Component Index increased by 1.26%, and the ChiNext Index climbed by 1.54% [8]. - The total market capitalization of leading stocks in the computing power sector approached 1 trillion yuan, indicating strong investor interest [4]. Policy Impact - Recent policy changes regarding steel production capacity are expected to improve long-term supply-demand dynamics in the steel industry. The new regulations aim to restrict new steel production capacity in key regions, which may lead to better market conditions for leading steel companies [13][14]. Coal Sector - In the coal sector, companies like Zhengzhou Coal Electricity and Shanghai Energy saw significant price increases, reflecting strong demand as power plants prepare for winter coal storage [15][18]. Conclusion - The article emphasizes a bullish sentiment in the market, driven by strong performances in technology and cyclical sectors, alongside supportive policy changes that may enhance the investment landscape in the steel and coal industries [4][14][18].

Market Overview - On October 27, A-shares opened higher with all three major indices rising, with the ChiNext Index increasing by over 2% before experiencing fluctuations [3][4] - The Shanghai Composite Index reached 3981.17, up 30.86 points or 0.78%, while the Shenzhen Component Index rose 133.77 points or 1.01% to 13422.95 [4] Sector Performance - The sectors showing significant gains included photolithography materials, storage chips, and computing hardware, while education, commercial services, and gaming sectors faced declines [6][10] - The photolithography concept stocks saw substantial increases, with companies like Jingrui Electric Materials hitting a 20% limit up and Tongcheng New Materials achieving a similar one-price limit [11][12] Notable Stocks - Baidu Group's stock rose by 3.57% to a market capitalization of 335.5 billion, while XPeng Motors increased by 3.19% with a market cap of 163.9 billion [9] - Zhongji Xuchuang's stock price surpassed 500 yuan for the first time, with a nearly 3% increase and a trading volume of approximately 120 billion, totaling a market cap of 565.2 billion [20][21] Commodity Insights - The London Metal Exchange reported that three-month copper prices reached a record high of $11,035 per ton, indicating strong market demand [17] - Codelco plans to raise the copper surcharge for the European market to $345 per ton by 2026, reflecting concerns over tight copper supply next year [18] Industry Trends - The demand for computing power is expected to continue growing, with the industry shifting from "order acquisition" to "delivery assurance" by 2026, emphasizing the importance of delivery capabilities as a core competitive advantage [23]

Core Viewpoint - The article discusses the recent adjustments made by top-performing fund managers in their portfolios during the third quarter of 2025, highlighting a focus on high positions and significant changes in holdings, particularly in the semiconductor and hard technology sectors [3][4][12]. Group 1: Fund Manager Adjustments - Many top-performing fund managers maintained high positions in their portfolios, with notable adjustments made to their holdings, primarily reducing positions in previously high-performing stocks [3][4]. - For instance, the Galaxy Innovation Growth Mixed Fund, managed by Zheng Weishan, had an equity investment ratio of 94.65% by the end of Q3, with a focus on the semiconductor industry and a positive outlook on domestic production [5][6]. - The Ping An Research Preferred Mixed Fund, managed by Zhang Xiaoqian, increased its stock position from 80.75% to 92.82% by the end of Q3, with significant changes in its top ten holdings [7][8]. Group 2: Investment Focus Areas - The primary investment direction for funds in Q3 was the hard technology sector, particularly the semiconductor industry, with expectations of continued investment in this area due to emerging demands from AI and the recovery of the semiconductor cycle [5][12]. - Fund managers expressed optimism about structural opportunities in the equity market, focusing on companies with clear competitive advantages and strong fundamentals, particularly in AI, energy storage, and new energy vehicles [12][13]. - The China Europe Digital Economy Mixed Fund, managed by Feng Ludan, saw its scale increase significantly, with a focus on AI infrastructure and a cautious approach to reducing positions in previously high-performing stocks [9][12]. Group 3: Market Outlook - Fund managers believe that the overall market remains healthy, with opportunities in undervalued stocks, especially in the consumer sector, as macroeconomic conditions improve [13]. - The AI sector presents both opportunities and risks, with high valuations leading to increased scrutiny on performance, making it susceptible to market sentiment and macroeconomic changes [13][12]. - There is a consensus among fund managers that the technology growth sector has moved from pessimistic to reasonable valuations, with no significant bubble in high-quality leading companies [12][13].

Core Viewpoints - The market is transitioning from a defensive to an offensive stance, with the "15th Five-Year Plan" emphasizing proactive economic development and technological self-reliance, which is expected to support a long-term bullish trend in the A-share market [4][6][10]. Group 1: Market Sentiment and Trends - Recent adjustments in market positions indicate that the style switch has largely concluded, with a return to performance-driven market dynamics [3]. - The market sentiment has stabilized after a period of cooling, with signs of recovery in risk appetite due to easing U.S.-China trade tensions and potential interest rate cuts by the Federal Reserve [5][8]. - The "15th Five-Year Plan" is expected to enhance market risk appetite in the short term and provide a clear growth path for A-shares in the medium to long term [6][10]. Group 2: Sector Focus and Investment Opportunities - Key sectors to watch include AI, semiconductor, robotics, and innovative pharmaceuticals, which are aligned with the strategic directions outlined in the "15th Five-Year Plan" [4][6][7]. - The focus on industrial chain security suggests that manufacturing companies with competitive advantages may benefit from increased pricing power and profit margin recovery [3]. - The emphasis on new technologies such as quantum technology, hydrogen energy, and brain-computer interfaces presents thematic investment opportunities [4][7]. Group 3: Policy Implications and Economic Outlook - The "15th Five-Year Plan" outlines a modern industrial system and prioritizes technological innovation, which is expected to drive long-term economic resilience and market stability [10][12]. - The potential for improved corporate earnings in the upcoming quarters is anticipated to provide new momentum for the market, particularly in the TMT and advanced manufacturing sectors [8][9]. - The overall economic recovery is expected to be gradual, with domestic demand showing signs of resilience, which may exceed expectations [8].

以下文章来源于ETF风向标 ，作者每经记者 ETF风向标 . 看复盘看视频看直播，最全ETF投资资讯尽在《ETF风向标》！ 互联网新闻信息服务许可证编号：51120190017 本周（ 10 月 2 0 日至 10 月 2 4 日）， A股市场稳步 上涨。截至周五收盘，沪指收于 3 950 . 3 1点，周涨 2.88 %；深成指收于132 8 9. 18 点，周涨 4.73 %；创业板指收于31 7 1.5 7 点，周涨 8.05 %。 成交量方面，本周较上周 继续 缩量。沪深两市本周共成交 5903.98 亿股，成交额 88974.74 亿元，日均成交金额为 17794.95 亿元。成交股数较上周下 降约 13.88%，成交额较上周下降约18.17%。 | 市场 沪深两市 | > 统计周期 周 | 开始日期 自 2025-07-25 > | | 截止日期 | | --- | --- | --- | --- | --- | | 序号 | 截止日期 ◆ | 成交量(亿股) | 成交额(亿元) ◆ | 日均成交额(亿元) ◆ | | | 2025-10-24 | 5,903.98 | 88,974.74 | 1 ...

牛市来了还没上车？上天天基金APP搜索777注册即可领500元券包，优选基金10元起投！限 量发放！先到先得！ 美国10月通胀数据或无法公布！ 当地时间周五，美国白宫发出警告称，由于政府停摆持续，很可能无法发布10月份的通胀数据。白 宫方面表示，这将是"历史上首次"不发布该数据。 有分析指出，通胀数据缺失将使美联储在调整利率与评估物价走势时面临更大不确定性。美联储在 12月制定货币政策时，决策过程将变得极为复杂。 10月通胀数据或缺席 另外有部分经济学家警告，若通胀与就业数据持续中断，可能打击市场信心。企业和消费者预期若 出现偏移，将放大金融市场波动，也让货币政策传导出现滞后。 美国白宫周五表示，由于政府持续停摆，美国政府很可能无法发布10月份的通胀数据。 白宫在社交平台上表示，由于国会未能通过拨款，美国劳工统计局（BLS）的调查人员无法进行实 地价格采集，"我们因此无法获得关键数据"。白宫称，这将是"历史上首次"不发布该数据。 美国白宫的"快速响应"账号（Rapid Response 47）发文称："白宫获悉，下个月可能有史以来首 次无法发布通胀数据。由于民主党导致的政府停摆，调查人员无法前往实地开展工作， ...

Core Insights - The recent market recovery has led to a surge in demand for newly launched mutual funds, with several funds completing their fundraising targets in record time, indicating strong investor confidence [3][5][8] - The introduction of floating fee rate products has shown promising initial performance, with average returns exceeding 12.47% for the first batch, which is expected to positively influence subsequent fund launches [4][7] Fundraising Trends - On October 24, 2023, the Jiashi Growth Sharing Mixed Fund completed its fundraising of approximately 30 billion yuan in just five days, ahead of its scheduled end date [3][5] - Other funds, such as the China Europe Value Navigation Fund and Penghua Manufacturing Upgrade Fund, also completed their fundraising quickly, with the former reaching 20 billion yuan in one day [5][6] - The trend of early fundraising closures is not limited to equity funds but also includes FOFs, ETFs, and QDII funds, reflecting a broader market enthusiasm [5][6] Performance of Floating Fee Rate Products - The first batch of floating fee rate products has delivered strong performance, with some funds achieving over 40% returns within three months of their launch [4][7] - The success of these products is attributed to their innovative fee structure and the overall positive market sentiment, which is expected to encourage further adoption of this model [7] Market Outlook - Multiple asset management firms maintain an optimistic outlook for the market, predicting a "slow bull" trend driven by improving macroeconomic conditions and corporate earnings recovery [8][9] - The ongoing shift in investor sentiment towards more established fund managers and the importance of sales capabilities in fund distribution are also highlighted as key factors influencing fundraising success [6][8]

牛市来了还没上车？上天天基金APP搜索777注册即可领500元券包，优选基金10元起投！限 量发放！先到先得！ 根据上述媒体获取的文件，美国能源部长克里斯·赖特（Chris Wright）近日敦促联邦能源监管委员会对 数据中心并网申请实施快速审批程序。根据赖特提交的拟议规则草案，此类审批将压缩至60天内完成， 这对当前可能长达数年的审批流程堪称重大变革。 报道称，加速审批将助力特朗普政府实现其人工智能发展蓝图。而对于急需建设高耗能数据中心的超大规 模企业而言，新规更是雪中送炭——这些企业正面临日益严峻的用电质疑，担心其巨大能耗会推高周边社 区的居民电费。 赖特在致美国联邦能源监管委员会（FERC）的信中强调："为开创美国繁荣新纪元，我们必须保障全体 国民及本土产业获得可负担、可靠且安全的电力。要实现这一目标，包括人工智能数据中心在内由公用事 业公司供电的大型负荷用户，必须能够及时、有序且不受歧视地接入输电网系统。" AI的快速发展，离不开庞大的电力供应！ 最新消息显示，特朗普政府正在推动监管机构大幅缩短数据中心接入电网的审批流程，以支持人工智能 （AI）数据中心的建设热潮。 受 上 述 消 息 影 响 ， 周 ...