国防ETF(512670)红盘上扬，机构称牛市常见急跌有三个原因

Group 1 - The core viewpoint is that the defense sector is experiencing a rise in stock prices as the Army Day approaches, with the China Defense Index (399973) increasing by 0.65% and several component stocks showing significant gains [1] - The recent market fluctuations are attributed to three main reasons: 1) Observational funds entering the market during pullbacks, leading to weaker buying strength after sustained increases; 2) Profit-taking by investors as floating profits accumulate, which can trigger sell-offs even with expected news; 3) Reduction of leveraged funds, which amplifies market volatility [1] - The China Defense ETF (512670) closely tracks the China Defense Index and has the lowest management and custody fees among similar ETFs at 0.40% [2] Group 2 - As of June 30, 2025, the top ten weighted stocks in the China Defense Index account for 43.29% of the index, including companies like AVIC Shenyang Aircraft (600760) and AVIC Aviation Power (600893) [2] - The index includes stocks from companies under the ten major military groups and those providing equipment to the armed forces, reflecting the overall performance of defense industry listed companies [2]