化工ETF嘉实(159129)涨2.56%，化工行业或迎周期拐点向上

Group 1 - The Shenzhen Component Index rose by 0.67%, and the ChiNext Index increased by 0.54%, with the chemical sub-index up by 2.37% [1] - Individual stocks such as Hengli Petrochemical surged over 6%, and Juhua Co. rose more than 3%, with Wanhu Chemical and Salt Lake Potash also seeing gains [1] - The chemical ETF by Jiashi (159129) increased by 2.56%, with a trading volume of 20.62 million yuan and a turnover rate of 2.86% [1] Group 2 - China Galaxy Securities forecasts a negative growth in capital expenditure for the chemical industry starting in 2024, with supply expected to contract due to the "anti-involution" trend and accelerated exit of outdated overseas capacity [1] - The "14th Five-Year Plan" emphasizes expanding domestic demand, which, combined with the onset of a U.S. interest rate cut cycle, is expected to open up demand for chemical products [1] - The chemical industry has been in a down cycle for approximately 3.5 years, but with continued decline in capital expenditure and faster exit of outdated capacity, the industry is expected to enter a low growth phase [1] - The industry is anticipated to reach a cyclical turning point by 2026, transitioning from valuation recovery to earnings growth, referred to as the "Davis Double-Click" [1] Group 3 - The Jiashi Chemical ETF tracks the CSI Sub-Segmented Chemical Industry Theme Index, which selects 50 large-scale, liquid chemical listed companies from the Shanghai and Shenzhen markets [2] - The top ten weighted stocks in the index include Wanhu Chemical, Salt Lake Potash, Tianci Materials, Cangge Mining, Juhua Co., Hualu Hengsheng, Duofu Du, Hengli Petrochemical, Baofeng Energy, and Yuntianhua, collectively accounting for over 45.41% of the index [2]