大盘冲高回落，关注A500ETF易方达（159361）、沪深300ETF易方达（510310）等产品后续走势

Market Overview - A-shares experienced a rise followed by a pullback in the morning session, with sectors such as PCB, film and television, and PEEK materials showing gains, while coal and steel sectors adjusted [1] - The Hong Kong stock market fluctuated, with the pharmaceutical sector rising against the trend [1] Index Performance - The CSI 300 Index fell by 0.2% at midday, with a rolling P/E ratio of 13.5 times, placing it in the 56.7% valuation percentile since its inception in 2005 [2] - The CSI A500 Index also decreased by 0.2%, with a rolling P/E ratio of 15.7 times, ranking in the 59.9% valuation percentile since its launch in 2004 [2] - The ChiNext Index saw a slight increase of 0.1%, with a rolling P/E ratio of 34.8 times, which is in the 19.8% valuation percentile since its establishment in 2010 [2] - The STAR Market 50 Index declined by 0.3%, with a notably high rolling P/E ratio of 146.2 times, placing it in the 99.7% valuation percentile since its introduction in 2020 [2] Sector Analysis - The A-share market's strategic emerging industries, including electric equipment, pharmaceuticals, and electronics, account for over 55% of the ChiNext Index [2] - The Hong Kong market's H-share Index covers a wide range of industries, with consumer discretionary, financials, information technology, and energy sectors making up over 85% of its composition [4]