Venture(US:VEMLY) Xin Lang Ji Jin·2025-11-21 11:41Market Overview - Global market risk aversion continues to escalate, influenced by significant fluctuations in US stocks, leading to declines in major Asia-Pacific indices [1] - A-shares experienced a substantial adjustment, with over 5,000 stocks in the red, and the Shanghai Composite Index falling 2.45% to 3,834.89 points [1] - The total market turnover reached 1.98 trillion yuan, showing a significant increase compared to the previous period [1] Sector Performance - Technology growth sectors were hit hard, with the hard technology broad-based dual innovation leader ETF (588330) dropping 4.1% [1] - The entrepreneurial board AI ETF (159363) opened lower and fell 4.83%, breaching all short-term moving averages [1] - Cyclical sectors such as non-ferrous metals and chemicals also faced declines, but there was active bottom-fishing capital evident in the market [1] Defensive Stocks - In a broadly declining market, defensive stocks like China Bank rose 0.8%, reaching a new historical high [1] - Consumer stocks outperformed the market, with leading consumer ETFs such as the consumer leader ETF (516130) and food ETF (515710) showing better performance [1] - Analysts from Dongfang Securities predict that the food and beverage sector may experience "easy rises and difficult falls" by 2026 [1] ETF Insights - The consumer leader ETF (516130) reported a slight decline of 0.76% with a trading volume of 602.31 million yuan [2] - The banking ETF (512800) fell 1.06% with a turnover of 14.57 billion yuan, indicating a slight premium [2] - The food ETF (515710) also saw a decline of 1.29% with a trading volume of 619.93 million yuan [2] Future Outlook - Analysts suggest that the market may continue a "weight protection + structural theme" oscillation pattern in the short term, with low-valuation financial stocks offering defensive value [3] - In the medium to long term, a "systematic slow bull" market is expected to continue, with focus areas including large consumption, prosperity, traditional industries, and dividends [3] - The Hong Kong internet ETF (513770) showed resilience, with a net inflow of 54.14 million yuan over the past five days, indicating strong buying interest despite recent declines [4][6] Consumer Sector Dynamics - The food and beverage sector demonstrated resilience, with the food ETF (515710) outperforming the Shanghai Composite Index [10] - Recent data indicated that Moutai 1935's sales have increased significantly in several markets, with some regions seeing over 30% growth [12] - Analysts believe that the food and beverage sector is currently at a historical low valuation, presenting a good opportunity for left-side layout [12][13] AI and Technology Sector - The AI sector showed relative resilience, with the Hong Kong AI ETF (159363) experiencing a significant drop of 4.83% but still attracting bottom-fishing capital [14] - The overall market sentiment is influenced by concerns over high valuations in AI, despite the sector's potential for growth [6] - Institutions expect that the AI application sector may see a rebound, driven by recent advancements and market dynamics [18]