Venture(US:VEMLY) Mei Ri Jing Ji Xin Wen·2025-10-21 05:24Core Viewpoint - The A-share market opened high and continued to rise, with the dual innovation sectors performing well, particularly in the new energy sector, indicating a positive market sentiment driven by policy expectations and international negotiations [1] Market Performance - The dual innovation sectors, especially new energy-related stocks, led the gains, with Zhongji Xuchuang rising over 10%, and companies like Feilihua and Xinyisheng increasing by over 8% [1] - The ChiNext ETF (159915) and the Sci-Tech Innovation 50 ETF (588080) saw respective increases of 2.9% and 2.1% by midday [1] Economic Outlook - Analysts suggest that the market is factoring in expectations of policy stimulus due to important economic meetings, which is beneficial for high-elasticity assets and new productivity assets [1] - The overall logic of economic recovery, ample liquidity, and structural inflows into the equity market remains unchanged [1] Investment Value - From a medium to short-term perspective, the growth stocks have stabilized after previous emotional releases, while from a long-term allocation perspective, the Sci-Tech Innovation Board and the ChiNext Board still hold significant allocation value [1] - As of October 20, the Sci-Tech Innovation 50 ETF had a scale exceeding 70 billion yuan, and the ChiNext ETF was close to 100 billion yuan, both ranking among the top in their category, with a management fee rate of only 0.15% per year [1]