ETF日报｜慢牛已来，“旗手”蛰伏待涨！量能创纪录，国防军工人气飙升，“AI双子星”意外杀跌

Market Overview - A-shares experienced a slight consolidation with major indices fluctuating around the waterline, and the Shanghai Composite Index reached a new high for the period [1] - The total trading volume in the two markets was 1.71 trillion yuan, with over 2400 stocks rising [1] - The non-ferrous metals sector showed strong performance, with COMEX gold futures hitting a historical high and the People's Bank of China increasing gold reserves for nine consecutive months [1] - The technology sector saw a significant pullback, particularly in artificial intelligence, with major ETFs in this area declining [1][2] - The military industry sector remained relatively stable, with the National Defense and Military Industry ETF showing slight declines but high popularity [1][4] Sector Performance Defense and Military Industry - The National Defense and Military Industry ETF (512810) recorded a historic weekly trading volume, with significant gains in stocks like Aerospace Science and Technology [4][6] - Despite recent short-term adjustments, the overall trading activity in the defense sector increased, with historical patterns suggesting heightened activity around military parades [6] - Analysts believe that the 14th Five-Year Plan and military trade developments will support a long-term upward trend in the defense sector [6] Securities Sector - The securities sector has been relatively subdued, with the top securities ETF (512000) underperforming compared to the broader market [2][9] - Analysts suggest that the current market phase has shifted from a "crazy bull" to a "slow bull," indicating a more sustainable growth trajectory for the securities sector [9][11] - Recent data shows that the securities ETF has attracted over 4.2 billion yuan in net inflows over the past five days, indicating ongoing investor interest [2][11] Technology Sector - The technology sector, particularly focused on AI, faced a significant downturn, with the AI-focused ETF (589520) dropping 2.57% amid market corrections [1][13] - Factors contributing to this decline include profit-taking at market highs and significant capital outflows from key technology sectors [14] - Despite the recent pullback, analysts remain optimistic about the long-term potential of AI, citing ongoing developments in domestic AI models and the importance of self-sufficiency in core technologies [15][18]