ETF复盘0722-资金加速流入，化工ETF（159870）规模达25亿，位居同类第一

Market Overview - On July 22, A-shares saw all three major indices rise, with the Shanghai Composite Index up by 0.62%, the Shenzhen Component Index up by 0.84%, and the ChiNext Index up by 0.61% [1] - The China A50 Index led the gains among major indices, increasing by 1.02% [2] - Over 2,500 stocks in the market experienced an increase [1] Hong Kong Market - On the same day, major indices in the Hong Kong market also rose, with the Hang Seng China Enterprises Index increasing by 1.13% [4] - The Hang Seng Index and Hang Seng Technology Index rose by 0.54% and 0.38%, respectively [5] Sector Performance - In terms of sector performance, coal (6.18%), building materials (4.49%), and construction decoration (3.38%) sectors showed the highest gains, while banking (-0.98%), computer (-0.73%), and communication (-0.43%) sectors faced the largest declines [7] Chemical Industry Insights - The chemical sector is experiencing a positive influx of capital, with a net subscription of 460 million units on the day, driven by favorable news such as anti-involution [7] - China Galaxy Securities noted that the basic chemical industry is currently undervalued compared to levels since 2014, presenting medium to long-term investment opportunities [7] - Key investment themes include opportunities in the western development initiative, supply-side disruptions, and the acceleration of domestic substitution in new materials [7] Science and Technology Bond Market - As of July 22, 2025, the Penghua Science and Technology Bond ETF (551030) saw a trading volume exceeding 15.8 billion, ranking second among similar products [8] - The ETF has achieved an average daily trading volume of 11.85 billion since its inception, indicating active trading [7] - The latest scale of the Penghua Science and Technology Bond ETF has surpassed 14 billion, showing significant growth [7] Research Insights - Dongwu Securities believes that the introduction of the Science and Technology Bond ETF can meet the allocation needs of institutional investors such as social security funds and pension funds, potentially attracting long-term capital into the science and technology bond market [8]