最猛赛道，狂买！

Core Insights - The Hong Kong Stock Connect ETFs have attracted over 25 billion yuan in inflows since July, indicating strong investor interest in this segment [1][8] - The overall A-share market is experiencing a gradual increase in valuation, with the Shanghai Composite Index nearing the 3600-point mark [2][8] ETF Market Performance - On July 23, the total net inflow for stock ETFs reached 1.389 billion yuan, marking the third consecutive day of inflows, with a total of nearly 6 billion yuan over the three days [2][4] - The total scale of all stock ETFs (including cross-border ETFs) reached 3.58 trillion yuan as of July 23 [2] - The Hong Kong Stock Connect ETFs have been the primary contributors to inflows, with over 6.4 billion yuan in the last three trading days and more than 25.4 billion yuan since July [1][4] Specific ETF Inflows - The top inflows for specific ETFs include the China 500 ETF with 872 million yuan, the A500 ETF with 790 million yuan, and the 30-year Treasury Bond ETF with 1.016 billion yuan [6][7] - The Hong Kong Stock Connect Non-Bank ETF and Internet ETF also saw significant inflows of 615 million yuan and 596 million yuan, respectively [7][8] Sector Insights - The inflows into the Hong Kong Internet sector are driven by positive sentiment around AI investments and a recovery in the market for core Chinese assets [8] - The insurance sector is expected to benefit from improved profitability due to a low-interest-rate environment and increased equity asset allocation [8]