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Core Viewpoint - The A-share market experienced a correction, with significant net inflows into stock ETFs exceeding 3.6 billion yuan, indicating a shift in investor sentiment towards certain sectors despite overall market declines [2][3][4]. Market Overview - On July 2, the A-share market saw all three major indices decline, while marine economy stocks surged, and sectors like military and semiconductors faced the most significant losses [2][3]. - The total scale of stock ETFs in the market reached 3.58 trillion yuan, with a net inflow of 3.61 billion yuan on the same day [5]. Fund Flows - The previous trading day saw industry-themed ETFs and bond ETFs leading in net inflows, amounting to 3.045 billion yuan and 782 million yuan, respectively [6]. - The Sci-Tech 50 Index ETF recorded the highest net inflow of 1.209 billion yuan [7]. Specific ETF Performance - Among broad-based ETFs, the Sci-Tech 50 ETF had a net inflow of nearly 650 million yuan, while the CSI 1000 ETF and CSI 500 ETF from Huaxia also saw inflows exceeding 400 million yuan [8]. - Notable inflows were observed in the Hong Kong Stock Connect Innovative Drug ETF and Semiconductor ETF, indicating positive sentiment towards these sectors [11]. Institutional Insights - Fund companies like Bosera and Guotai expressed optimism about the A-share market, citing a recovery in global risk appetite and improvements in economic policies that could enhance risk preferences [8][9]. - Bosera suggested maintaining a "dividend + technology" allocation strategy in the context of narrow market fluctuations [8]. Outflows from Broad-based ETFs - Broad-based ETFs experienced significant outflows, with the CSI 300 Index ETF seeing a net outflow of 1.114 billion yuan [14]. - The A500 ETF from Harvest also faced a net outflow of 890 million yuan, indicating a trend of capital moving away from larger index funds [15]. Long-term Outlook - Despite short-term outflows from dividend strategy ETFs, institutions remain optimistic about their long-term value, particularly in the context of a low-interest-rate environment and weak economic recovery [17].