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Core Viewpoint - On June 23, the stock ETF market experienced a significant inflow of over 5 billion yuan, with major indices like the CSI A500, CSI 300, and SSE 50 leading the inflow, while popular thematic ETFs such as consumption, coal, semiconductor, military industry, and information technology saw outflows [1][3]. Summary by Category Market Performance - The market showed a rebound with the Shanghai Composite Index leading the gains, particularly in sectors like cross-border payments, port shipping, military information technology, and oil and gas [3]. - The overall net inflow for stock ETFs (including cross-border ETFs) reached 51.8 billion yuan, bringing the total market size to 3.51 trillion yuan [3]. ETF Inflows and Outflows - Broad-based ETFs saw a net inflow of 29.5 billion yuan, while strategy-style ETFs experienced a net outflow of 2.71 billion yuan [3]. - The top five inflow sectors on June 23 included: - CSI A500 Index: net inflow of 20.5 billion yuan - CSI 300 Index: net inflow of 16.0 billion yuan - SSE 50 Index: net inflow of 11.1 billion yuan - Banking sector: net inflow of 5.6 billion yuan - Pharmaceutical sector: net inflow of 5.0 billion yuan [3][4]. Leading Fund Companies - E Fund's ETF had a latest scale of 626.07 billion yuan, increasing by 2.78 billion yuan, with the CSI 300 ETF seeing a net inflow of 340 million yuan and the pharmaceutical ETF 130 million yuan [3]. - Huaxia Fund's ETFs, including the SSE 50 ETF and credit bond ETF, recorded net inflows of 1.047 billion yuan and 661 million yuan, respectively [4]. Top Performing ETFs - The top five ETFs by net inflow on June 23 were: 1. CSI A500 ETF: 1.478 billion yuan 2. CSI 300 ETF: 1.150 billion yuan 3. SSE 50 ETF: 1.047 billion yuan 4. Banking ETF: 411 million yuan 5. Hong Kong Innovative Drug ETF: 385 million yuan [5]. ETFs with Significant Outflows - The ETFs with the highest net outflows included: 1. CSI 1000 ETF: -570 million yuan 2. Sci-Tech 50 ETF: -355 million yuan 3. ChiNext ETF: -275 million yuan [6]. Market Outlook - The market is expected to return to a fundamental-driven trend, influenced by growth expectations and policy dynamics, with a focus on "dividend + technology" strategies [6][7]. - The low interest rate environment and weak economic recovery are seen as favorable for dividend strategies, particularly in the Hong Kong stock market [7].