The provided content does not include any specific quantitative models or factors, nor does it detail their construction, evaluation, or backtesting results. The documents primarily focus on market performance, sector analysis, investor sentiment, ETF premiums/discounts, block trading, and institutional activity. These are descriptive analyses and do not involve the development or testing of quantitative models or factors.

Core Viewpoint - The A-share and Hong Kong stock markets experienced significant gains, with the Shanghai Composite Index achieving an eight-day winning streak and market volume surpassing 2 trillion yuan, driven by positive external factors and strong sector performance [1][3][5]. Market Performance - As of August 13, the Shanghai Composite Index rose by 0.48% to 3683.46 points, while the Shenzhen Component increased by 1.76% and the ChiNext Index surged by 3.62%, marking the second-highest gain of the year [3]. - The total trading volume in A-shares reached 2.18 trillion yuan, the second-highest of the year, compared to 1.91 trillion yuan the previous day [3]. - Notable stocks in the computing power sector, such as NewEase and Zhongji Xuchuang, saw significant price increases, contributing to the overall rise in technology stocks [3]. Sector Highlights - Stocks with "Great Wall" in their names, including Great Wall Securities and Great Wall Technology, collectively hit the daily limit [3]. - The Hong Kong market showed even stronger performance, with the Hang Seng Index and the Hang Seng China Enterprises Index both rising over 2.5%, and the Hang Seng Tech Index increasing by 3.52% [1][3]. External Factors - Three major positive external factors contributed to the market rally: 1. Strong expectations for a Federal Reserve interest rate cut following the release of U.S. inflation data [1][5]. 2. A significant inflow of over $13.6 billion into non-U.S. equity funds in July, the largest in over four years, contrasting with a $6.3 billion outflow from U.S. equity funds [6]. 3. A Bank of America survey indicating strong confidence among fund managers in Asian markets and the Chinese economy [6][7]. Fund Manager Sentiment - The survey revealed that 49% of fund managers believe emerging market stocks are undervalued, while 91% think U.S. stocks are overvalued, the highest level recorded [7]. - Confidence in the Chinese economy has improved, with fewer managers expecting a slowdown, as they anticipate further policy easing [7].