“618”大促持续火热，国补带动消费回升！消费ETF(159928)跌超1%资金逆市布局！机构：白酒底部布局更佳，关注传统消费新饮品！

Group 1 - The A-share market shows mixed performance, with the leading consumption ETF (159928) declining over 1% and nearing a transaction volume of 200 million CNY, while also receiving a net subscription of 10 million units, bringing its total scale to over 12.8 billion CNY as of June 11, 2025 [1] - The top ten constituent stocks of the consumption ETF mostly experienced declines, with Wens Foodstuffs down over 2%, and other major stocks like Yili, Wuliangye, and Moutai also seeing slight decreases [1][5] Group 2 - The "618" shopping festival is driving a new wave of consumer enthusiasm, with JD.com reporting over 200% growth in transaction volume and order numbers during the first hour of the event, and Tmall seeing 217 brands surpassing 100 million CNY in sales [2] - National consumption data shows a 4.7% year-on-year increase in retail sales from January to April 2025, with a notable 5.1% increase in April, supported by the "old for new" consumption policy [2] Group 3 - The white liquor sector is experiencing a bottoming trend, with market sentiment affected by new regulations limiting alcohol at business meals, but overall demand is expected to stabilize, and the sector remains attractive for investment due to low valuations and increasing dividends [3][5] - Traditional consumer brands are exploring new beverage products targeting health and wellness, with a focus on younger demographics, and are expected to benefit from high-potential channels and category growth [4][5] Group 4 - The domestic consumption sector is showing strong performance driven by multiple factors, with specific segments like beauty care, gold jewelry, and IP toys attracting significant investment interest due to their growth potential [5] - The consumption ETF (159928) is characterized by its resilience across economic cycles, with over 67% of its top ten constituent stocks being essential consumer goods, including leading liquor companies and major agricultural firms [5][6]