市场整体向好，关注指数回调时布局机会，A500ETF易方达（159361）上周净流入超75亿元

Core Viewpoint - The A-shares market is experiencing a downward trend, with the CSI A500 index down by 0.5%, and both the CSI A100 and A50 indices down by 0.7%. However, the A500 ETF from E Fund has seen significant inflows, indicating investor confidence and a potential for recovery in the market [1]. Group 1: Market Performance - The CSI A500 index decreased by 0.5%, while the CSI A100 and A50 indices both fell by 0.7% [1]. - The A500 ETF from E Fund recorded a net inflow of over 7.5 billion yuan last week, bringing its total size to 34.6 billion yuan, a historical high [1]. - The annualized tracking error of the A500 ETF is only 0.34%, with an excess return of 2.87% relative to the index, ranking first among similar products with over 10 billion yuan in size [1]. Group 2: Economic Outlook - According to Everbright Securities, internal policies remain proactive while external risks are gradually easing [1]. - The Federal Reserve is still in a rate-cutting cycle, which may lead to continued marginal improvement in overseas liquidity [1]. - The fundamentals of the A-share market are on an improving trend, with a low probability of continued decline, especially with the accelerated development of the AI industry, which is expected to enhance profitability in the TMT sector [1]. Group 3: Market Signals - Current valuation percentiles of the A-share market are relatively high, but the turnover rate is at a historical average level [1]. - The proportion of stocks reaching new highs in the A-share market is at a relatively low historical level [1].