基建ETF（159619）盘中涨超3%，基建投资在政策支持下展现韧性

Group 1 - The construction industry is expected to experience a simultaneous contraction in total volume and structural differentiation by early 2026, with infrastructure investment showing localized resilience supported by policy measures [1] - The fiscal policy for 2026 is set to be proactive, with the early issuance of special bonds already initiated in multiple regions, alongside the release of new policy financial tools to ensure sufficient funding for major projects [1] - Real estate and infrastructure demand are still in a bottoming phase, with many regions intensively starting major projects to expand domestic demand, while water conservancy, new infrastructure, overseas business, and the western region are highlighted as structural bright spots [1] Group 2 - The real estate market continues to decline, negatively impacting the construction business, with ongoing pressure on real estate transactions and a lack of market recovery [1] - High-frequency data indicates a mixed performance in the upstream building materials market, with weak supply and demand for cement, declining prices, increased rebar production but low steel prices, and a year-on-year decrease in the operating rate of asphalt facilities, all at historically low levels [1] - The infrastructure ETF (159619) tracks the CSI Infrastructure Index (930608), which selects listed company securities from the construction and engineering sectors, covering various sub-sectors such as infrastructure construction, specialized engineering, and housing construction to reflect the overall performance of related listed companies in the infrastructure engineering field [1]