35亿资金，跑了

Market Overview - On January 5, 2026, the A-share market experienced a strong start with a total trading volume exceeding 2.5 trillion yuan, and the Shanghai Composite Index regained the 4000-point mark, with both the Shenzhen Component Index and ChiNext Index rising over 2% [2] - Despite the positive market performance, there was a net outflow of over 3.5 billion yuan from stock ETFs, indicating some investors chose to cash out after a series of gains [6] ETF Performance - The total scale of stock ETFs reached 4.87 trillion yuan, with a trading volume of 276.91 billion yuan on the same day, an increase of over 85 billion yuan compared to the previous trading day [3] - The top-performing ETFs included the A500 ETF from Huatai-PB and the A500 ETF from China Asset Management, both with trading volumes exceeding 150 billion yuan [3] - The healthcare and pharmaceutical sectors led the gains among ETFs, with eight out of the top ten performing ETFs belonging to this category, showing significant increases [3] Fund Inflows and Outflows - The net inflow of funds was concentrated in broad-based ETFs such as the Southern CSI 500 ETF and Huatai-PB CSI 300 ETF, which saw inflows of 28.42 billion yuan and 11.02 billion yuan respectively [7] - Conversely, several ETFs experienced significant outflows, including the A500 ETF and the ChiNext 50 ETF, with outflows of 14.20 million yuan and 9.97 million yuan respectively [8] Sector Analysis - The commodity and strategy-style ETFs saw net inflows of 63.73 billion yuan and 4.55 billion yuan respectively, while bond ETFs faced a net outflow of 480.62 billion yuan [6] - The CSI 500 index recorded a net inflow of 30.08 billion yuan, while the AAA tech bonds saw a net outflow of 165.22 billion yuan [6] Fund Management Insights - Leading fund companies like E Fund and Huaxia Fund reported substantial net inflows across various ETFs, indicating strong investor interest [9][10] - E Fund's gold ETF saw a net inflow of 10.20 billion yuan, while the CSI 300 ETF had a net inflow of 5.39 billion yuan, reflecting a trend towards defensive assets [9] - The overall sentiment in the market suggests a focus on structural opportunities and a balanced approach to investment, with an emphasis on sectors like AI, solid-state batteries, and innovative pharmaceuticals [11]