机构：在轮动中保持对核心配置资产的信心，A500ETF基金（512050）盘中成交额超37亿元位居同类第一

Group 1 - The A-share market experienced slight fluctuations, with the CSI A500 index down by 0.38% as of 14:21 on July 25 [1] - Among the constituent stocks, Zhangjiang Hi-Tech reached the daily limit, while Cambrian Biologics and Yunda Holdings rose by 8.71% and 8.29% respectively; on the downside, China Energy Engineering fell by 9.30%, Tunnel Engineering dropped by 5.53%, and Zexin Pharmaceutical decreased by 4.77% [1] - The A500 ETF fund (512050) saw a decline of 0.29%, with a trading volume exceeding 3.7 billion yuan, ranking first among similar funds [1] Group 2 - Market sentiment is warming up, with significant increases in capital activity, leading to rapid rotation among sectors in the short term [1] - Policy-driven capital inflows are solidifying the market bottom, with the Central Huijin Investment's multiple rounds of ETF purchases sending stabilizing signals [1] - The "policy bottom" effect is strengthening market expectations for liquidity and systemic support, suggesting that structural market activity is likely to continue in the current macroeconomic environment [1] Group 3 - The core A500 ETF fund (512050) has highlighted its market trend characteristics and allocation value recently [2] - This ETF tracks the CSI A500 index, employing a dual strategy of industry-balanced allocation and leading stock selection, covering all 35 sub-industries [2] - Compared to the CSI 300, the A500 ETF is overweight in sectors such as AI industry chain, pharmaceutical biology, electric equipment, new energy, and national defense, showcasing a natural "dumbbell" investment attribute [2]