基金研究周报： A股结构性回暖，科创改革预期提速（8.4-8.8）

Market Overview - A-share market showed structural recovery from August 4 to August 8, with most broad indices experiencing gains. The Shanghai Composite Index rose by 2.11%, while the Shenzhen Index and ChiNext Index increased by 1.25% and 0.49%, respectively [2] - The Wind first-level average increase was 1.88%, with 90% of sectors achieving positive returns. Notably, defense, machinery, and non-ferrous metals sectors performed well, increasing by 6.53%, 4.89%, and 4.67% respectively [2] - Fund issuance totaled 34 funds, including 13 equity funds, 7 mixed funds, 11 bond funds, and 3 FOF funds, with a total issuance of 39.74 billion units [2][4] Fund Performance - The Wind All Fund Index rose by 0.91%, with the ordinary equity fund index increasing by 1.49% and the mixed equity fund index rising by 1.73% [3] - The Wind stock fund index showed a year-to-date return of 12.85%, while the mixed fund index returned 12.67% [8] Global Asset Review - Global asset classes continued to show divergence, with US tech giants leading the market, particularly driven by Apple's domestic investment plan and AI breakthroughs [5] - The CRB commodity index remained weak, with energy and metal sectors showing contrasting performances. Gold prices reached over $3530 per ounce due to safe-haven demand [5] Domestic Fund Market Review - The Wind China Fund Total Index reported a weekly return of 0.91%, with the stock fund index at 1.45% and the mixed fund index at 1.44% [8] - The market sentiment remained high, with small-cap stocks seeing increased trading volume, and the daily trading volume average slightly rising to 1.8 trillion [9] Domestic Bond Market Review - The national bond futures index saw a slight increase of 0.15%, while short-term funding spreads showed minimal change [13]