Sou Hu Cai Jing·2025-08-25 13:56Market Performance - A-shares continued strong performance with the Shanghai Composite Index reaching a ten-year high, and the total trading volume in the Shanghai and Shenzhen markets exceeding 3.14 trillion yuan, marking the second highest in history, an increase of 594.4 billion yuan from the previous trading day [1][3] - The Hong Kong Internet ETF (513770) surged by 3.39%, reaching a historical high, driven by strong performances from major internet companies like Alibaba and Meituan [1][8] Federal Reserve Impact - Federal Reserve Chairman Jerome Powell's remarks have paved the way for a potential interest rate cut in September, with expectations for a rate cut rising to 90%. This could benefit liquidity-sensitive sectors, particularly technology and internet stocks [1][11] - The anticipated rate cut is expected to have a multi-dimensional positive impact on the non-ferrous metals sector, leading to a 4.25% increase in the Non-Ferrous Metals ETF (159876) [1][18] AI and Computing Power - The AI sector is experiencing significant growth, with the China Computing Power Conference indicating that the construction of computing power platforms is accelerating, and the AI-related stocks are leading the market [5][6] - The ChiNext AI ETF (159363) saw a net subscription of 116 million shares, with over 600 million yuan invested in the past ten days, reflecting strong investor interest [1][4] Real Estate Market - Shanghai's new housing policy, "Six Measures," has relaxed purchase restrictions, leading to a 3.82% increase in the Real Estate ETF (159707), reaching a yearly high [1][3] Sector Performance - The Non-Ferrous Metals sector has shown robust performance, with significant gains in stocks like Zijin Mining and Northern Rare Earth, driven by expectations of increased demand and favorable government policies [1][17][19] - The AI sector, particularly focused on optical modules, has seen substantial growth, with the ChiNext AI index rebounding over 100% from its year-to-date low, outperforming other AI indices [6][7] Investment Recommendations - Analysts recommend maintaining positions in sectors with strong performance such as AI, innovative pharmaceuticals, military industry, and non-ferrous metals, while also considering the potential for increased trading volume and market activity [3][19] - The Non-Ferrous Metals ETF (159876) is highlighted for its potential due to low valuations and positive earnings forecasts from a majority of its constituent companies [19][21]