本轮回撤超20%，东方财富阶段新低，金融科技ETF（159851）失守年线，“抄底”资金连续介入

Core Viewpoint - The financial technology sector continues to decline, with the China Securities Financial Technology Theme Index dropping over 2% and breaking below the annual line, indicating a bearish trend in the market [1][6]. Market Performance - The financial technology sector saw a general decline, with most constituent stocks closing in the red, except for Chuangshi Technology and Tax Friend Co., which recorded gains [1][6]. - Dongfang Wealth fell over 1%, reaching a nearly five-month low, down more than 20% from its peak on August 29 [1][6]. - The largest financial technology ETF (159851) also dropped over 2%, hitting a new low in this round of adjustments, with a total trading volume of 474 million yuan [1][6]. Short-term Analysis - The recent poor performance of the financial technology sector is attributed to multiple factors: 1. Daily trading volume in the two markets has remained around 1.6 trillion yuan, which is a contraction from previous highs, leading to tighter market liquidity that suppresses high-volatility sectors [3][8]. 2. Year-end risk aversion has increased, impacting technology stocks that are sensitive to liquidity [3][8]. 3. The technical outlook shows a downward trend in the sector [3][8]. Long-term Investment Opportunities - Long-term investment opportunities in the financial technology sector are expected to arise from two main areas: the financial end and the technology end. - On the financial side, policy support is anticipated to promote high-quality development in the financial industry, with long-term interest rates expected to remain low and the equity market continuing a bullish trend driven by risk appetite [3][9]. - On the technology side, AI is expected to empower the sector, with financial software and computer-related industries likely to see synchronized upward performance in their earnings and technology cycles [3][9]. ETF Focus - It is recommended to pay close attention to the financial technology ETF (159851) and its linked funds (Class A 013477, Class C 013478), which cover a wide range of themes including internet brokerage, financial IT, cross-border payments, AI applications, and Huawei's HarmonyOS [4][10]. - As of December 2, the financial technology ETF (159851) has a scale exceeding 9 billion yuan, with an average daily trading volume of 800 million yuan over the past six months, leading in scale and liquidity among eight ETFs tracking the same index [4][10].