基金研究周报：市场结构性分化持续，成长强势（2.9-2.13）

Market Overview - The A-share market exhibited a structural upward trend last week, with the Shanghai Composite Index closing at 4082.07 points, remaining stable throughout the week [1] - The growth sector performed strongly, highlighted by a 3.37% increase in the STAR 50 Index, indicating robust momentum in technology and innovation themes [1] - In contrast, the value sector showed relative weakness, with the Shanghai 50 and CSI Dividend Index experiencing slight declines [1] - Internationally, the U.S. stock indices collectively fell, with the S&P 500 down 1.39%, while European markets saw moderate gains [2] - Asian markets performed strongly, with the Korean Composite Index soaring 8.21% and the Nikkei 225 rising 4.96% [2] Sector Performance - The Information Technology sector rose by 3.62%, and the Communication Services sector increased by 2.43%, showcasing strong performance [1][9] - Conversely, the Consumer Staples sector declined by 2.45%, and the Financial sector fell by 1.41%, marking the weakest performances [1][9] - The rise of AI technologies has propelled the TMT (Technology, Media, and Telecommunications) sector, leading to accelerated sector rotation during the earnings forecast period [1][9] Fund Issuance and Performance - A total of 64 funds were launched last week, including 24 equity funds, 19 mixed funds, 8 bond funds, 2 QDII funds, and 11 FOF funds, with a total fundraising amount of 58.33 billion [1][17] - The overall performance of funds was positive, with the Wind All Fund Index rising by 0.79%, and the ordinary equity fund index increasing by 1.40% [5] - The equity funds significantly outperformed bond funds, with the equity mixed fund index rising by 1.52% [5] Bond Market Overview - The bond market sentiment was warm, with the convertible bond index leading gains, and both 10-year and 30-year government bond futures slightly rising [13] - Domestic long-term interest rates remain at historically low levels, indicating a stable bond market environment [13]