ETF及指数产品网格策略周报-20260120

Group 1 - The report outlines a grid trading strategy, which is essentially a high buy-low sell trading approach that capitalizes on price fluctuations without predicting market trends, making it suitable for volatile markets [3][13] - The characteristics of suitable grid trading targets include selecting on-market assets, stable long-term trends, low transaction costs, good liquidity, and high volatility, with equity ETFs being identified as appropriate for this strategy [3][13] - The report highlights key ETFs for grid trading, including the Hong Kong Stock Connect 50 ETF, which focuses on core leading stocks in Hong Kong, benefiting from significant net inflows from southbound funds, which reached 1,404.84 billion HKD in 2025, a 73.89% increase from 2024 [3][14] Group 2 - The report discusses the Hang Seng Pharmaceutical ETF, which benefits from the Federal Reserve's interest rate cuts that improve the financing environment for innovative drugs, with China's new drug pipeline accounting for about 30% of the global total [4][17] - The report mentions the Film and Television ETF, which is expected to see a boost in market expectations due to the upcoming Spring Festival, alongside government policies promoting high-quality development in cultural consumption [5][19] - The Securities and Insurance ETF is highlighted as benefiting from high market activity and relaxed restrictions on insurance capital entering the market, with a record trading volume of 3.12 trillion RMB on January 9, 2026 [7][22]