Mei Ri Jing Ji Xin Wen·2025-10-10 05:35Core Viewpoint - The A-share market opened lower on October 10, but the National Free Cash Flow Index rebounded, indicating a potential positive trend in the market driven by external factors and sector-specific catalysts [1] Market Performance - The three major A-share indices opened lower, with the National Free Cash Flow Index rising approximately 0.5% after initial declines [1] - Key stocks such as Guodian Nanzi, Lianfa Shares, and Baiyin Nonferrous Metals hit the daily limit, while Qin'an Shares, Hailu Heavy Industry, Tubao, and Xinghuo Technology led the gains [1] ETF Activity - The largest free cash flow ETF (159201) followed the index upward, with trading volume exceeding 200 million yuan, indicating active market participation [1] - The ETF focuses on industry leaders with abundant free cash flow, covering sectors such as home appliances, automotive, non-ferrous metals, power equipment, and oil and petrochemicals, effectively mitigating single-industry volatility risks [1] Market Outlook - Dongwu Securities suggests that the market typically shows a "more gains than losses" pattern after long holidays, with early trading days before the holiday indicating a preemptive rebound [1] - Positive external news, particularly the rising expectations for Federal Reserve interest rate cuts and significant trends in the AI industry, are expected to influence market style towards sectors with strong growth potential and lower valuations [1] Fund Management - The free cash flow ETF (159201) has a management fee rate of 0.15% and a custody fee rate of 0.05%, both of which are among the lowest in the market [1]