Market Performance - On May 26, the market experienced fluctuations with the ChiNext Index leading the decline. Sectors such as controllable nuclear fusion, smart logistics, PEEK materials, and IP economy saw significant gains, while innovative drugs, complete automobiles, traditional Chinese medicine, and vitamins faced notable declines. Over 3,700 stocks rose across the market [1] - The total trading volume in the Shanghai and Shenzhen markets was 1.01 trillion yuan, a decrease of 145.6 billion yuan compared to the previous trading day [1] Fund Performance - The top-performing funds for the day included: - Huaxia High-end Manufacturing A with a daily net value growth rate of 2.96% and a year-to-date return of -2.8% [2] - Xinhua Technology Innovation Theme with a daily growth of 2.78% and a year-to-date return of -5.84% [2] - China Merchants Sports Culture Leisure A with a daily growth of 2.69% and a year-to-date return of 5.06% [2] - The fund with the highest year-to-date return was the China Merchants North Exchange Innovation Small and Medium Enterprises Selected Fund, which rose approximately 1.4% on the day, bringing its year-to-date return to 68.51% [4] QDII Fund Insights - The QDII product, Huatai-PineBridge Hong Kong Advantage Selection, briefly topped the year-to-date return list but is expected to see a decline due to the weak performance of its major holdings in Hong Kong pharmaceutical stocks [3] - As of the latest data, the Huatai-PineBridge Hong Kong Advantage Selection A fund had a year-to-date return of 68.45%, leading the QDII products by a significant margin [6] Sector-Specific Insights - The pharmaceutical sector showed mixed results, with notable declines in stocks such as Hansoh Pharmaceutical (-0.19% for the day, 48.15% year-to-date) and Innovent Biologics (-2.45% for the day, 68.95% year-to-date) [4] - The market's top-performing fund in the North Exchange theme was the China Merchants North Exchange Selected Fund, which achieved a year-to-date return of 68.08% [5]

Group 1 - The financial sector, including banks, insurance, and securities firms, has shown remarkable performance, contributing significantly to the rise of the Shanghai Composite Index above 3400 points [1] - Recent policies such as interest rate cuts, new public fund regulations, and encouragement for insurance companies to increase equity investments have boosted market confidence and created opportunities for financial stocks, which are characterized by high dividends and low valuations [1] - The performance of financial stocks is expected to enhance overall market liquidity and promote valuation recovery in the sector [1] Group 2 - The China Securities Association released the first quarter bond underwriting rankings, highlighting the continued dominance of leading securities firms while smaller firms seek differentiated strategies [2] - Notable performers include CITIC Securities leading in green corporate bond underwriting, and Cinda Securities excelling in low-carbon transition and "Belt and Road" bonds [2] - The concentration of bond underwriting business is increasing, indicating a potential reshaping of the industry landscape [2] Group 3 - Fund managers are actively purchasing their own funds, with a total self-purchase amount reaching 54.4 million yuan since April 8, reflecting growing confidence in the market [3] - The self-purchase actions by fund managers are expected to support related fund companies and securities firms, contributing to a stabilization of market expectations [3] Group 4 - The enthusiasm for investing in the Beijing Stock Exchange has increased among public funds, with several thematic funds showing over 50% growth this year [4] - The strong performance of these funds indicates a rising interest in high-growth small and micro enterprises, which are becoming a key focus for thematic investment [4] - The improved financing environment for small and micro enterprises is likely to enhance their long-term development and positively impact the small and medium-sized board market [4]