慢牛行情未变，机构看好人民币资产，A500ETF南方（159352）持续受青睐

Group 1 - The A500ETF Southern (159352) experienced a slight decline of 0.32% with a trading volume of 6.157 billion yuan as of the midday on December 31 [1] - The fund saw a net subscription of 134 million yuan yesterday, with a net inflow of 4.4 billion yuan over the past five days, and a total net subscription of 15.2 billion yuan over the past ten days [1] - The fund's scale increased from 22.642 billion yuan to 46.773 billion yuan over the year, marking a growth of 24.1 billion yuan or 106.58% [1] Group 2 - According to Zheshang Securities, the market focus may shift towards policy expectations and industry trends for the coming year, with a potential active performance in small and mid-cap growth style thematic investments [1] - Western Securities anticipates that the appreciation of the yuan will accelerate the repatriation of cross-border capital, reinforcing the trend of yuan appreciation, driven by China's strong industrial strength and export competitiveness [1] - Debon Securities maintains a positive outlook on the slow bull market, emphasizing the importance of industry catalysts and noting that the market liquidity environment remains loose [1] Group 3 - The A500ETF Southern closely tracks the CSI A500 Index, which covers a broader range of industries compared to traditional indices like the CSI 300, including more leaders in emerging sectors such as power equipment, pharmaceuticals, and electronics [1] - Investors can utilize the A500ETF Southern and its linked funds (Class A 022434; Class C 022435) for a streamlined investment approach [1]