A股强于港股的格局或将延续，同类规模最大的自由现金流ETF（159201）配置价值凸显

Core Viewpoint - The A-share market is expected to outperform the Hong Kong stock market due to factors such as the appreciation of the RMB, which will drive A-share value reassessment, and the anticipated interest rate cut by the Federal Reserve [1] Group 1: Market Performance - On September 10, the three major indices rebounded after a dip, with the National Index of Free Cash Flow experiencing fluctuations and currently down about 0.5% [1] - Leading stocks include Weichai Heavy Machinery, Zhaoxun Media, Xinhua Department Store, and Hongqi Chain [1] - The largest free cash flow ETF (159201) attracted over 610 million yuan in the last 20 trading days [1] Group 2: A-share vs. Hong Kong Market - Since July, the A-share market has shown a stronger upward slope compared to the Hong Kong market [1] - The expectation of improved liquidity in the Hong Kong market is noted, but the potential for A-shares to continue outperforming is highlighted due to various factors [1] - Factors affecting the Hong Kong market include pressure on profitability for major internet companies and the potential release of household deposits [1] Group 3: Free Cash Flow ETF - The free cash flow ETF (159201) closely tracks the National Index of Free Cash Flow and selects stocks with positive and high free cash flow after liquidity, industry, and ROE stability screening [1] - The ETF is characterized by high quality and strong risk resistance, making it suitable for long-term investment [1] - The fund management fee is set at an annual rate of 0.15%, and the custody fee at 0.05%, both of which are the lowest in the market [1]