Cambricon(SH:688256) Di Yi Cai Jing·2025-09-07 05:13Core Viewpoint - The adjustment of the STAR Market 50 Index sample stocks is a routine action aimed at maintaining the index's representativeness and enhancing the investability of index products, with specific rules established in advance [2][3]. Group 1: Index Adjustment and Rules - The STAR Market 50 Index undergoes quarterly adjustments, with the latest one scheduled for September 12, which is a standard procedure to ensure the index reflects current market conditions [2]. - The individual stock weight in the index is capped at 10% to reduce concentration risk, a practice common in both domestic and international indices [2][3]. - The adjustment aims to prevent the index from being overly influenced by a few stocks, which could lead to significant volatility in index performance [2][3]. Group 2: Impact on ETFs and Market Dynamics - Concerns about large-scale ETF sell-offs due to weight reductions are addressed, indicating that fund managers typically adjust their holdings gradually and consider market liquidity [3]. - The funds that are redistributed from the stock experiencing a weight reduction will remain within the index, ensuring that the overall capital remains unchanged, described as "肥水不流外人田" [4]. - Investors are encouraged to focus on the long-term benefits of index tracking rather than short-term fluctuations caused by periodic adjustments [5].