环氧丙烷领涨化工品市场！化工ETF天弘（159133）盘中获净申购近8000万份，近15日连续获资金净流入累超3.4亿元

Group 1 - The chemical sector remains active, with the CSI sub-industry chemical theme index rising by 0.5% as of the morning close on January 21, 2024 [1] - Notable stock performances include Zhejiang Longsheng up over 5%, Yara International nearly 5% higher, and Hongda Co., Sankeshu, and Salt Lake Co. each rising over 3% [1] - The Tianhong Chemical ETF (159133) recorded a trading volume exceeding 52 million yuan with a turnover rate over 5%, indicating active trading [1] Group 2 - The Tianhong Chemical ETF has seen a net subscription of 78 million units as of the morning close, with a cumulative net inflow of 340 million yuan over the past 15 trading days [1] - The ETF tracks the CSI sub-industry chemical theme index, covering various segments such as phosphorus chemicals, fluorine chemicals, phosphorus fertilizers, and potassium fertilizers [1] - According to recent reports, the chemical industry is at the bottom of a four-year down cycle, with indicators suggesting a potential turnaround in 2026 [2] Group 3 - Capital expenditure in the chemical industry is expected to decline in 2024, with supply-side contraction anticipated due to the "anti-involution" trend and accelerated elimination of outdated overseas capacity [2] - The "14th Five-Year Plan" emphasizes expanding domestic demand, which, combined with the onset of a U.S. interest rate cut cycle, is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 space for chemical products [2] - A dual bottom in supply and demand is being established, with strong policy expectations potentially catalyzing an upward cycle for the chemical industry starting in 2026, leading to valuation recovery and earnings growth [2]