化工板块本周先抑后扬，化工行业ETF易方达（516570）持续获资金涌入

Group 1 - The core viewpoint of the article indicates a decline in the chemical and rare earth industries, with the China Securities Petrochemical Industry Index dropping by 3% and the China Securities Rare Earth Industry Index falling by 3.4% this week [1][3] - The chemical industry ETF, E Fund (516570), has seen a continuous net inflow of funds for 15 trading days, totaling over 1.4 billion yuan [1] - China Galaxy Securities reports a negative growth in capital expenditure for the chemical industry since 2024, suggesting a potential contraction in supply due to the "anti-involution" trend and accelerated clearance of outdated overseas capacity [1] Group 2 - The "14th Five-Year Plan" emphasizes the need to expand domestic demand, setting the tone for the next five years, which, combined with the onset of the US interest rate cut cycle, is expected to open up demand space for chemical products [1] - A dual bottom in supply and demand is basically established, with strong policy expectations acting as a catalyst, potentially leading to an upward cycle for the chemical industry by 2026, marking a transition from valuation repair to earnings growth, referred to as the "Davis Double Play" [1]