Venture(US:VEMLY) Xin Lang Ji Jin·2025-09-01 12:05Market Overview - The A-share market opened positively in September, with all three major indices closing higher: Shanghai Composite Index up 0.46%, Shenzhen Component Index up 1.05%, and ChiNext Index up 2.29% [1] - The total trading volume in the Shanghai and Shenzhen markets reached 27.5 billion yuan [1] Sector Performance - The optical module and computing hardware sectors continued to strengthen, with the ChiNext AI ETF (159363) rising 6.29%, reaching a new high since its listing [1][4] - The non-ferrous metals sector maintained a strong upward trend, with the Non-ferrous Metals ETF (159876) surging 3.68%, reaching the highest point since September 2021 [1][9] - The pharmaceutical sector also showed renewed strength, with the Hong Kong Stock Connect Innovative Drug ETF (520880) and Drug ETF (562050) both rising over 3% [1] ETF Highlights - The ChiNext AI ETF (159363) saw a significant increase in trading volume, with a net subscription of 1.9 million units and a total trading volume of 1.598 billion yuan [4] - The Non-ferrous Metals ETF (159876) experienced a net subscription of 49.2 million units, reflecting strong investor confidence in the sector [9] AI Sector Insights - The ChiNext AI index has surged over 90% this year, driven by strong performance from major players in the optical module sector, with companies like Zhongji Xuchuang and Tianfu Communication seeing profit growth rates exceeding 355% and 194%, respectively [6][8] - The ongoing capital expenditure growth from cloud service providers, such as Alibaba Cloud's 220% year-on-year increase, is expected to benefit the computing power sector [6] Non-Ferrous Metals Outlook - The non-ferrous metals sector is expected to benefit from the anticipated interest rate cuts by the Federal Reserve, which could lead to increased demand for physical assets like metals [12] - The Non-ferrous Metals ETF (159876) is positioned to capture the upward trend in metal prices, supported by a favorable supply-demand balance and ongoing monetary easing [12][13] Hong Kong Market Dynamics - The Hong Kong internet ETF (513770) showed signs of a rally, with a 1.7% increase, as Alibaba's strong earnings report boosted investor sentiment [15][16] - The Hong Kong market is seen as a potential area for catch-up gains, particularly in the AI sector, as it has lagged behind the A-share market [19][21]