领涨全市场ETF！地产ETF（159707）盘中拉升3%，资金实时净申购超1800万份

Core Insights - The real estate sector led the A-share market on September 26, with the real estate ETF (159707) showing significant activity, peaking over a 3% increase and achieving a trading volume exceeding 670 million yuan, with net subscriptions surpassing 18 million units [1] - The implementation of new housing market regulations in Shanghai has shown immediate effects, with new home transaction volumes increasing by over 30% in the first week and a total increase of 19% in the first month compared to the previous month, indicating a notable short-term stimulus effect on the real estate market [1] Group 1: Market Performance - The real estate ETF (159707) outperformed the market, with a peak increase of 3% and a trading volume exceeding 670 million yuan [1] - Major constituent stocks such as China Merchants Shekou, Binjiang Group, and New Town Holdings saw increases of 5.53%, 4.58%, and 3.26% respectively [1] Group 2: Policy Impact - The new housing policy in Shanghai has resulted in a significant increase in new home transactions, with a 30% rise in the first week and a 19% increase in total transactions for the month [1] - The policy's short-term impact is evident, as the market has maintained high activity levels following the initial surge [1] Group 3: Investment Opportunities - According to Zhongyin Securities, structural policy relaxations in major cities like Beijing, Shanghai, and Shenzhen may lead to a short-term market rebound [1] - Real estate companies with strong liquidity, high concentration in major cities, and robust product offerings are expected to have better alpha attributes, while those benefiting from debt resolution and policy support may experience greater valuation recovery potential [1] Group 4: ETF Composition - The real estate ETF (159707) tracks the CSI 800 Real Estate Index, comprising 13 leading quality real estate companies, showcasing a significant concentration advantage with over 90% weight in the top ten constituent stocks [1] - The ETF has a high proportion of central and state-owned enterprises, suggesting that leading real estate firms may exhibit greater resilience amid industry challenges [1]