大盘震荡微跌，关注A500ETF易方达（159361）、沪深300ETF易方达（510310）等配置价值

Market Overview - A-shares experienced a collective adjustment in the morning session, with the three major indices declining [1] - The ChiNext index fell by 0.4%, the Shanghai and Shenzhen 300 index decreased by 0.2%, and the CSI 500 index dropped by 0.1% [1] - The Hang Seng China Enterprises Index declined by 1.1%, while the Shanghai Stock Exchange Science and Technology Innovation Board 50 Index fell by 0.8% [1] Sector Performance - The organic silicon, chemical, photovoltaic equipment, Hainan Free Trade Zone, battery, PEEK raw materials, and energy metals sectors showed notable gains [1] - Conversely, sectors such as the Soca concept, gaming, securities, and humanoid robot concepts faced significant declines [1] - In the Hong Kong market, photovoltaic and non-ferrous metals sectors performed well despite the overall market pullback, while semiconductor and hardware equipment sectors saw declines [1] Index Details - The Shanghai and Shenzhen 300 Index consists of 300 stocks with good liquidity and large market capitalization, covering 11 first-level industries, with a rolling P/E ratio of 14.3 times [3] - The CSI 500 Index includes 500 securities with large market capitalization and good liquidity, covering 91 out of 93 third-level industries, with a rolling P/E ratio of 16.8 times [3] - The ChiNext Index is composed of 100 stocks with high market capitalization and liquidity, primarily in strategic emerging industries, with nearly 60% of its composition in electric equipment, communication, and electronics, and a rolling P/E ratio of 41.4 times [3] - The STAR Market 50 Index includes 50 stocks with significant market capitalization and liquidity, prominently featuring "hard technology" leaders, with over 65% in semiconductors and a rolling P/E ratio of 163.9 times [5] - The Hang Seng China Enterprises Index consists of 50 large-cap, actively traded stocks from mainland China listed in Hong Kong, covering a wide range of industries, with nearly 85% in consumer discretionary, information technology, finance, and energy, and a rolling P/E ratio of 10.7 times [5]