Xin Lang Ji Jin·2025-09-03 05:41Market Overview - The market experienced a wide fluctuation after a strong opening, with the ChiNext index showing resilience but later retracting gains, raising questions about whether the A-share market has peaked in the short term [1] - Zhejiang Securities maintains that the current "systematic slow bull" trend remains healthy in the medium term, despite short-term uncertainties and increased volatility [1] - CITIC Securities indicates that A-share earnings have reached a confirmation turning point, entering a mild recovery phase, but structural differentiation is more pronounced than overall trends [1] Sector Insights - The focus remains on a balanced allocation between "large finance and broad technology," with increased attention on previously lagging sectors such as real estate and state-owned enterprises [1] - The financial technology sector is highlighted as a key area of interest, benefiting from a vibrant capital market and regulatory support for both consumer-facing and business-facing financial technology companies [3] - The computer sector's investment opportunities are primarily concentrated in financial technology, with expectations of improved performance in the second half of the year due to macroeconomic conditions easing demand-side pressures [3] Fund Performance - The financial technology ETF (159851) has seen significant interest, with a recent scale exceeding 10 billion yuan and an average daily trading volume of over 1.3 billion yuan in the past month, indicating strong liquidity [3] - The ETF is positioned to benefit from the prosperity of the capital market, with growth potential in areas such as stablecoins and domestic innovation driven by policy support [3]