指数赚钱效应与增量资金形成正螺旋，A50ETF（159601）一键打包核心资产

Core Viewpoint - The A-share market shows positive momentum with major indices opening higher, indicating a continued bullish sentiment driven by strong liquidity and key leading stocks performing well [1] Market Performance - On September 15, the three major A-share indices opened higher: the Shanghai Composite Index rose by 0.14%, the Shenzhen Component Index increased by 0.37%, and the ChiNext Index gained 1.05% [1] - The MSCI China A50 Connect Index, which represents core leading assets, experienced a slight increase of approximately 0.3%, with leading stocks such as CATL, Haiguang Information, BYD, and Wanhua Chemical leading the gains [1] Financing and Liquidity - According to central bank data, the cumulative increase in social financing scale for the first eight months of 2025 reached 26.56 trillion yuan, which is 4.66 trillion yuan more than the same period last year [1] - As of the end of August, the M2 money supply stood at 331.98 trillion yuan, reflecting a year-on-year growth of 8.8% [1] - In the first eight months, RMB loans increased by 13.46 trillion yuan, while RMB deposits rose by 20.5 trillion yuan [1] Investment Strategy - According to GF Securities, the positive spiral of incremental funds and the index's profitability effect remain intact, suggesting that the narrative of a liquidity-driven bull market has not been disrupted [1] - The report advises against using experiences from volatile or bear markets as signals, recommending a focus on maintaining positions in core industry themes [1] A50 ETF Overview - The A50 ETF (159601) closely tracks the MSCI China A50 Connect Index, providing a packaged investment in 50 leading interconnected assets, offering balanced exposure to the performance of core leading assets in the A-share market [1] - Compared to other "beautiful 50" indices, the MSCI China A50 Connect Index emphasizes liquidity and industry balance during its compilation, showcasing significant large-cap characteristics [1]