A股午评 | 股指宽幅巨震，宽基ETF成交额再次放大！AI应用板块持续走低

Market Overview - A-shares opened higher but retreated, with all three major indices closing in the red. The Shanghai Composite Index fell by 0.22%, the Shenzhen Component Index by 0.1%, and the ChiNext Index by 0.01%. The half-day trading volume in the Shanghai and Shenzhen markets reached 1.99 trillion yuan, an increase of 117.1 billion yuan compared to the previous trading day [1] ETF Trading Activity - Several broad-based ETFs saw increased trading volumes, with the Huatai-PB CSI 300 ETF, Southern CSI 500 ETF, Huatai-PB A500 ETF, and Huaxia A500 ETF each exceeding 10 billion yuan in trading volume. Additionally, multiple ETFs surpassed 5 billion yuan in trading volume, indicating significant investor interest [1] Sector Performance Strong Sectors - Electric Grid Equipment and Power Stocks: Continued to show strength, with stocks like Siyuan Electric, Guangdian Electric, and Huayin Power hitting the daily limit [3] - Semiconductor Industry: The entire semiconductor supply chain saw gains, particularly in materials, equipment, and packaging, with stocks like Kangqiang Electronics and Shenghui Integration reaching the daily limit [4] - Optical Module Concept: Stocks such as Sijia Technology and Kecuan Technology surged, driven by positive forecasts for Google's TPU chip shipments [5] - Humanoid Robot Concept: Stocks like Rifei Co., Henggong Precision, and Slin Intelligent Drive performed well, with significant gains observed [6] Weak Sectors - AI Applications: Experienced a significant pullback, with major stocks like Xinhua Net and People's Daily hitting the daily limit down [2] - Oil and Gas Stocks: Showed volatility, with companies like Tongyuan Petroleum and Keli Co. dropping over 10% [2] - Lithium Battery Sector: Continued to decline, with stocks like Tianji Co. and Lingpai Technology falling more than 8% [2] - Tourism and Retail: Both sectors faced corrections, with stocks like Zhongxin Tourism and Sanjiang Shopping hitting the daily limit down [2] Institutional Insights - Dongfang Securities: Anticipates that the spring market is not over, predicting a slow bull market continuation. The Shanghai Composite Index is expected to fluctuate between 4,000 and 4,200 before the Spring Festival, focusing on growth styles, especially in future industries [7] - Shenwan Hongyuan: Indicates that the market is currently in a "structural bull" phase, with expected corrections but limited amplitude. A significant bull market is likely concluding, leading to a potential phase of quarterly adjustments [8] - CICC: Projects that financial growth rates may continue to slow in the first half of 2026, influenced by government debt expansion and a focus on quality over quantity in fiscal policy [9]