港股概念ETF申赎资金净流入，黄金ETF资金净流出

Report Industry Investment Rating No relevant content provided. Core Viewpoints The report analyzes the ETF market liquidity dynamics from August 4th to August 10th, 2025, including market trends, ETF market overview, and the inflow and outflow of funds in different types of ETFs [1][2]. Summary by Directory Market Overall Situation - China's 10 - year treasury bond yield remained basically flat at 1.69% last week, while the US 10 - year treasury bond yield rose slightly to 4.27% [1][9]. - The average daily trading volume of the Shanghai and Shenzhen stock markets was 1672.6 billion yuan, a slight decrease from the previous week. The margin trading balance reached a new high of about 1995.3 billion yuan [1][10]. - Last week, the A - share market issued 5 new stock - type ETFs, with a total issuance scale of about 1.559 billion shares [10]. - Stock - type ETFs had a net redemption inflow of about - 4.814 billion yuan. The Shanghai Composite Index (+2.11%), and other major indices showed different degrees of increase. The defense and military industry (+5.93%), non - ferrous metals (+5.78%), and machinery and equipment (+5.37%) led the rise, while the pharmaceutical and biological (-0.84%) and computer (-0.41%) industries had negative returns [11]. - The defense and military industry had a congestion warning [11]. Hong Kong - related Concept ETFs - The overall ETF market had a net subscription inflow of about 14.6 billion yuan. Bond - type ETFs had an inflow of about 9 billion yuan, and cross - border ETFs had an inflow of about 11.8 billion yuan. Stock - type ETFs had a net inflow of about - 4.8 billion yuan, mainly due to the net outflow of broad - based ETFs of about - 9.7 billion yuan. The turnover rate of stock - type ETFs generally decreased [25]. - Brokerage ETFs had a net subscription inflow, while gold ETFs had a net outflow [25]. Gold ETFs and Game ETFs - Last week, ETF subscription and redemption funds flowed into bond - type ETFs and some Hong Kong - related industry ETFs, while game ETFs, gold ETFs, and stock broad - based ETFs had net outflows [35]. Newly - listed and Proposed - to - be - listed ETFs - Last week, 7 ETF funds were listed for trading, with a total share of about 3.6 billion. There were 10 ETFs that had completed fundraising and were waiting to be listed, with a total share of about 3.4 billion [40].