经济数据维持韧性

Group 1 - The overall economic data for April shows stronger-than-expected industrial growth, moderate recovery in consumption, and differentiated investment structure, indicating resilience under external shocks. Emerging industries are expanding rapidly, suggesting a long-term positive trend for the A-share market, with recommendations to consider low-cost entries in broad-based ETFs like the CSI A500 ETF (159338) and defensive ETFs like the cash flow ETF (159399) during market fluctuations [1] - Following the easing of tariff conflicts, domestic economic data is expected to improve further under "more proactive fiscal policies and moderately loose monetary policies." The steel sector, with a low valuation (CSI Steel Index PB value at 0.94), may show some elasticity if favorable economic policies are introduced, making the steel ETF (515210) worth monitoring [1] - Recent high-level corrections in gold prices are attributed to a decline in risk aversion. The backdrop of monetary overexpansion and fiscal deficit monetization challenges the dollar credit system. The global trend of "de-dollarization" positions gold as a potential new pricing anchor, suggesting that precious metals may have upward momentum. Investors are encouraged to consider gradual investments in gold fund ETFs (518800) and their linked funds during price corrections [1] Group 2 - The military industry should respond to national demands and adapt to contemporary requirements by expanding beyond traditional military operations to include new domains and emerging non-traditional military sectors, forming a new industry system. As the centenary of the military approaches and the tasks of the "14th Five-Year Plan" need to be fulfilled, the sector's orders and performance are expected to continue to materialize, with a focus on the military ETF (512660) [2]