Market Performance - The Shanghai Composite Index closed at 3883.56 points, up 57.8 points, with a gain of 1.51% [1] - The Shenzhen Component Index closed at 12441.07 points, up 275.01 points, with a gain of 2.26% [1] - The ChiNext Index closed at 2762.99 points, up 80.44 points, with a gain of 3.0% [1] - The CSI 300 Index closed at 4469.22 points, up 91.22 points, with a gain of 2.08% [1] Trading Volume - The total trading volume of the Shanghai and Shenzhen markets exceeded 30 trillion yuan, marking the second occurrence in A-share history to surpass this threshold [1] Sector Performance - The top five performing sectors included: - Small Metals: up 4.94% - Precious Metals: up 3.73% - Communication Equipment: up 3.15% - Beverage Industry: up 2.93% - Wind Power Equipment: up 2.25% [1] - The bottom five performing sectors included: - Electronic Chemicals: down 0.33% - Automotive Manufacturing: down 0.19% - Beauty and Personal Care: down 0.13% [1]

Market Performance - The Shanghai Composite Index opened up by 22.4 points, representing a 0.59% increase, reaching 3848.16 points [1] - The Shenzhen Component Index opened up by 125.06 points, with a 1.03% rise, reaching 12291.12 points [1] - The ChiNext Index opened up by 37.73 points, showing a 1.41% increase, reaching 2720.28 points [1] - The CSI 300 Index opened up by 38.29 points, reflecting a 0.87% increase, reaching 4416.29 points [1]

北京时间8月22日，上证指数开盘上涨1.18点，涨幅为0.03%，报3772.28点；深证成指开盘下跌17.72点，跌幅为0.15%，报 11902.04点；创业板指开盘下跌7.94点，跌幅为0.31%，报2587.53点；沪深300开盘下跌0.71点，跌幅为0.02%，报4287.36点。 ...

北京时间8月21日，上证指数开盘上涨4.47点，涨幅为0.12%，报3770.68点；深证成指开盘上涨39.06点，涨幅为0.33%，报 11965.8点；创业板指开盘上涨7.26点，涨幅为0.28%，报2614.91点；沪深300开盘上涨12.97点，涨幅为0.3%，报4284.37点。 ...

Market Performance - The Sci-Tech Innovation 50 Index experienced a narrowing increase of over 1%, having previously risen by 2% [1] - The Shanghai Composite Index closed at 3774.82, up by 8.61 points or 0.23% [1] - The ChiNext Index fell by 4.05 points, resulting in a decrease of 0.16%, closing at 2603.61 [1] - The Shenzhen Component Index increased by 18.72 points, or 0.16%, to close at 11945.46 [1] - The Sci-Tech 50 Index ended at 1161.32, up by 13.17 points or 1.15% [1] - The North Exchange 50 Index decreased by 7.37 points, down 0.46%, closing at 1607.79 [1] - The CSI 300 Index rose by 19.23 points, or 0.45%, to close at 4290.62 [1]

1. Report Information - Report Title: Weekly Report on the Fund Flow of Exchange-Traded Index Funds [1] - Data Date: August 11 - August 15, 2025 [1] - Report Release Date: August 20, 2025 [1] - Analyst: Jin Ling [1] - Analyst's License Number: S1070521040001 [1] 2. Domestic Passive Stock Funds 2.1 Composite - **Fund Scale, Weekly Return, and Net Weekly Inflow**: For example, the Shanghai Stock Exchange 50 has a fund scale of 159.456 billion yuan, a weekly return of 1.86%, and a net weekly inflow of 4.352 billion yuan; the CSI 300 has a scale of 983.449 billion yuan, a return of 2.52%, and an inflow of 2.643 billion yuan; the CSI 500 has a scale of 140.12 billion yuan, a return of 4.08%, and an inflow of 1.117 billion yuan; the CSI 1000 has a scale of 116.917 billion yuan, a return of 4.20%, and an inflow of 3.272 billion yuan; the ChiNext Index has a scale of 126.448 billion yuan, a return of 8.69%, and an outflow of 3.136 billion yuan; the STAR Market and ChiNext 50 has a scale of 32.965 billion yuan, a return of 8.77%, and an outflow of 1.461 billion yuan; the STAR 50 has a scale of 181.221 billion yuan, a return of 5.58%, and an outflow of 10.456 billion yuan; the STAR 100 has a scale of 25.701 billion yuan, a return of 7.46%, and an inflow of 0.478 billion yuan; the STAR 200 has a scale of 0.547 billion yuan, a return of 5.06%, and an inflow of 0.138 billion yuan; the A50 has a scale of 36.101 billion yuan, a return of 2.05%, and an outflow of 1.399 billion yuan; the A500 has a scale of 198.099 billion yuan, a return of 2.90%, and an outflow of 1.155 billion yuan; the Hang Seng Index has a scale of 6.723 billion yuan, a return of 2.26%, and an inflow of 0.459 billion yuan; the Hang Seng China Enterprises Index has a scale of 0.915 billion yuan, a return of 2.09%, and no inflow; other funds have a scale of 129.449 billion yuan, a return of 3.36%, and an outflow of 0.765 billion yuan [4]. 2.2 Industry and Theme - **Fund Scale, Weekly Return, and Net Weekly Inflow**: Big technology funds have a scale of 216.688 billion yuan, a return of 5.87%, and an outflow of 9.937 billion yuan; big finance funds have a scale of 128.483 billion yuan, a return of 4.44%, and an inflow of 1.291 billion yuan; big health funds have a scale of 100.161 billion yuan, a return of 3.63%, and an inflow of 3.754 billion yuan; big manufacturing funds have a scale of 72.818 billion yuan, a return of 4.44%, and an outflow of 0.736 billion yuan; big consumption funds have a scale of 56.089 billion yuan, a return of 1.28%, and an inflow of 1.695 billion yuan; big cycle funds have a scale of 21.416 billion yuan, a return of 2.30%, and an inflow of 1.834 billion yuan; public utilities funds have a scale of 6.614 billion yuan, a return of -0.51%, and an outflow of 0.189 billion yuan; carbon neutrality funds have a scale of 13.051 billion yuan, a return of 2.26%, and an outflow of 0.125 billion yuan; state - owned enterprise reform funds have a scale of 0.0061 billion yuan, a return of 1.17%, and an outflow of 0.0002 billion yuan; other funds have a scale of 0.0742 billion yuan, a return of 2.75%, and an outflow of 0.0005 billion yuan [4]. 2.3 Style Strategy - **Fund Scale, Weekly Return, and Net Weekly Inflow**: Dividend funds have a scale of 59.877 billion yuan, a return of 0.19%, and an outflow of 0.203 billion yuan; growth funds have a scale of 7.306 billion yuan, a return of 7.20%, and an outflow of 0.189 billion yuan; value funds have a scale of 3.308 billion yuan, a return of 1.28%, and an outflow of 0.031 billion yuan; dividend low - volatility funds have a scale of 43.535 billion yuan, a return of -0.59%, and an outflow of 0.836 billion yuan; quality funds have a scale of 1.332 billion yuan, a return of 3.67%, and an outflow of 0.0004 billion yuan; low - volatility funds have a scale of 0.255 billion yuan, a return of 1.00%, and an outflow of 0.0001 billion yuan; other funds have a scale of 0.0111 billion yuan, a return of -0.59%, and no inflow [4]. 2.4 Enterprise Nature - **Fund Scale, Weekly Return, and Net Weekly Inflow**: China Special - Valuation Concept funds have a scale of 51.633 billion yuan, a return of 0.57%, and an inflow of 0.643 billion yuan [4]. 2.5 Region - **Fund Scale, Weekly Return, and Net Weekly Inflow**: Regional funds have a scale of 4.342 billion yuan, a return of 3.25%, and an outflow of 0.071 billion yuan [4]. 3. Overseas - Related Funds 3.1 Composite - **Fund Scale, Weekly Return, and Net Weekly Inflow**: The Nasdaq 100 has a fund scale of 78.421 billion yuan, a weekly return of 2.18%, and a net weekly inflow of 0.362 billion yuan; the S&P 500 has a scale of 20.837 billion yuan, a return of 1.99%, and an inflow of 0.023 billion yuan; the Dow Jones has a scale of 1.708 billion yuan, a return of 2.62%, and an inflow of 0.006 billion yuan; the German DAX has a scale of 0.975 billion yuan, a return of 1.33%, and an outflow of 0.053 billion yuan; the French CAC40 has a scale of 0.601 billion yuan, a return of 2.46%, and an outflow of 0.007 billion yuan; the Nikkei 225 has a scale of 3.611 billion yuan, a return of 4.00%, and an outflow of 0.200 billion yuan; the Tokyo Stock Price Index has a scale of 0.771 billion yuan, a return of 3.12%, and no inflow; Saudi Arabian funds have a scale of 0.540 billion yuan, a return of -0.53%, and an inflow of 0.152 billion yuan; the Hang Seng Index has a scale of 19.174 billion yuan, a return of 2.15%, and no inflow; the Hang Seng China Enterprises Index has a scale of 12.002 billion yuan, a return of 1.98%, and no inflow; other funds have a scale of 3.713 billion yuan, a return of 2.29%, and an outflow of 0.055 billion yuan [5]. 3.2 Industry and Theme - **Fund Scale, Weekly Return, and Net Weekly Inflow**: Hong Kong technology funds have a scale of 92.609 billion yuan, a return of 1.91%, and an inflow of 4.025 billion yuan; Chinese Internet funds have a scale of 45.350 billion yuan, a return of 2.98%, and an outflow of 0.450 billion yuan; Hong Kong medical funds have a scale of 27.231 billion yuan, a return of 6.47%, and an inflow of 1.194 billion yuan; Hong Kong consumption funds have a scale of 0.968 billion yuan, a return of 1.65%, and an inflow of 0.003 billion yuan; other funds have a scale of 16.931 billion yuan, a return of 2.98%, and an outflow of 0.034 billion yuan [5]. 3.3 Style Strategy - **Fund Scale, Weekly Return, and Net Weekly Inflow**: Dividend funds have a scale of 1.269 billion yuan, a return of 0.81%, and an outflow of 0.246 billion yuan; dividend low - volatility funds have a scale of 0.777 billion yuan, a return of 0.13%, and an inflow of 0.012 billion yuan [5]. 4. Bond and Commodity Funds 4.1 Bond Funds - **Interest - Rate Bonds**: 30 - year bonds have a scale of 8.969 billion yuan, a return of -1.53%, and an inflow of 4.046 billion yuan; 10 - year bonds have a scale of 4.090 billion yuan, a return of -0.31%, and an inflow of 0.024 billion yuan; 5 - 10 - year bonds have a scale of 38.952 billion yuan, a return of -0.33%, and an outflow of 0.986 billion yuan; 5 - year bonds have a scale of 6.948 billion yuan, a return of -0.12%, and an outflow of 0.192 billion yuan; bonds with a term of less than 5 years have a scale of 22.725 billion yuan, a return of -0.01%, and an outflow of 0.304 billion yuan; other bonds have a scale of 0.0371 billion yuan, a return of -0.53%, and an inflow of 0.0598 billion yuan [6]. - **Credit Bonds**: Medium - and high - grade bonds have a scale of 10.916 billion yuan, a return of -0.13%, and no inflow; urban investment bonds have a scale of 13.817 billion yuan, a return of -0.14%, and an inflow of 0.260 billion yuan; short - term financing bonds have a scale of 29.341 billion yuan, a return of 0.02%, and an inflow of 1.747 billion yuan [6]. - **Convertible Bonds**: Convertible bond funds have a scale of 43.859 billion yuan, a return of 1.44%, and an inflow of 3.181 billion yuan [6]. 4.2 Commodity Funds - **Fund Scale, Weekly Return, and Net Weekly Inflow**: Gold funds have a scale of 70.887 billion yuan, a return of -1.42%, and an outflow of 1.912 billion yuan; soybean meal funds have a scale of 4.193 billion yuan, a return of 1.36%, and an outflow of 0.053 billion yuan; non - ferrous metal funds have a scale of 0.745 billion yuan, a return of 0.35%, and an outflow of 0.032 billion yuan; energy and chemical funds have a scale of 0.293 billion yuan, a return of -0.83%, and an inflow of 0.0232 billion yuan [6]. 5. Index - Enhanced Funds - **Fund Scale, Weekly Return, and Net Weekly Inflow**: For example, the Shanghai Stock Exchange 50 has a scale of 0.076 billion yuan, a return of 2.82%, and an outflow of 0.0001 billion yuan; the CSI 300 has a scale of 3.209 billion yuan, a return of 2.34%, and an inflow of 0.0034 billion yuan; the CSI 500 has a scale of 1.978 billion yuan, a return of 3.68%, and an outflow of 0.0004 billion yuan; the CSI 1000 has a scale of 0.656 billion yuan, a return of 3.77%, and an inflow of 0.0086 billion yuan; the ChiNext Index has a scale of 0.469 billion yuan, a return of 8.38%, and an outflow of 0.0025 billion yuan; the STAR Market and ChiNext 50 has a scale of 0.062 billion yuan, a return of 8.63%, and no inflow; the STAR 50 has a scale of 0.935 billion yuan, a return of 5.52%, and an outflow of 0.0077 billion yuan; the STAR 100 has a scale of 0.317 billion yuan, a return of 6.74%, and an outflow of 0.0003 billion yuan; other funds have a scale of 0.194 billion yuan, a return of 2.68%, and an inflow of 0.031 billion yuan [6].

北京时间8月19日，上证指数开盘上涨0.46点，涨幅为0.01%，报3728.49点；深证成指开盘下跌7.67点，跌幅为0.06%，报 11827.9点；创业板指开盘下跌9.62点，跌幅为0.37%，报2596.58点；沪深300开盘上涨2.36点，涨幅为0.06%，报4241.77点。 ...

Core Viewpoint - The expectation of the central government's "anti-involution" policy is rising, which is expected to support valuation expansion in the futures market through measures such as production limits and capacity utilization adjustments [1] Group 1: Policy Impact - The central government's "anti-involution" policy aims to narrow the supply-demand gap in industries, enhancing the bargaining power of leading companies [1] - The improvement in July data, along with high margin trading balances and increased trading volume, indicates a sustained recovery in market risk appetite, supporting valuation expansion in futures [1] Group 2: Market Conditions - The suspension of 24% tariffs for 90 days during the China-US Stockholm economic and trade talks alleviates uncertainties related to trade friction [1] - Expectations for a Federal Reserve interest rate cut are rising, leading to a weaker dollar and a rebound in risk appetite [1] Group 3: Volatility and Investment Strategy - The recent volatility of the CSI 300 index is low, with a 20-day volatility of 0.11 and a 250-day volatility of 0.24, indicating a stable market environment [1] - The IH2509 futures are trading at a premium of 5.82 points, while the IM2509 futures are at a discount of 56.30 points, reflecting optimistic expectations for large-cap blue-chip stocks [1] - It is suggested to maintain a bullish outlook, but caution is advised regarding profit-taking and potential selling pressure after consecutive price increases, with options selling recommended to smooth out volatility risks [1]

Market Performance - The Shanghai Composite Index closed at 3666.44, down 17.02 points or 0.46% [1][2] - The Shenzhen Component Index closed at 11451.43, down 99.93 points or 0.87% [1][2] - The ChiNext Index closed at 2469.66, down 26.84 points or 1.08% [1][2] - The CSI 300 Index closed at 4173.31, down 3.27 points or 0.08% [1][2] - The total trading volume for the Shanghai and Shenzhen markets was 9494.64 billion and 13297.45 billion respectively [1] Sector Performance - The top five performing sectors included Insurance with a gain of 2.64%, Glass Fiber with 1.0%, Electric Machinery with 0.29%, and Gaming with 0.23% [1] - The bottom five performing sectors included Energy Metals down 3.12%, Aerospace down 3.11%, Electronic Components down 2.74%, Instrumentation down 2.74%, and Transportation Equipment down 2.64% [1]

Report Information - Data Date: 2025/8/4 - 2025/8/8 [1] - Report Date: August 12, 2025 [1] - Analyst: Jin Ling [1] - Report Title: Weekly Report on Fund Flows of Exchange-Traded Index Funds [1] Investment Ratings - Not provided in the given content Core Views - Not provided in the given content Summary by Categories Domestic Passive Stock Funds - Different concepts have varying fund scales, weekly price changes, and net weekly fund purchases. For example, the Shanghai Composite 50 has a fund scale of 159.456 billion yuan, a weekly increase of 1.15%, and a net weekly fund outflow of 2.506 billion yuan; while the CSI 1000 has a scale of 116.917 billion yuan, a weekly increase of 2.62%, and a net weekly fund inflow of 469 million yuan [4]. Overseas Index Funds - Overseas index funds also show diverse performance. The Nasdaq 100 has a fund scale of 78.421 billion yuan, a weekly increase of 0.83%, and a net weekly fund inflow of 391 million yuan; the S&P 500 has a scale of 20.837 billion yuan, a weekly decrease of 0.04%, and a net weekly fund outflow of 18 million yuan [5]. Bond Funds - Bond funds are divided into different types such as interest rate bonds, credit bonds, and convertible bonds. For instance, 30 - year interest rate bonds have a fund scale of 8.969 billion yuan, a weekly increase of 0.13%, and a net weekly fund outflow of 749 million yuan; short - term financing bonds in credit bonds have a scale of 29.341 billion yuan, a weekly increase of 0.04%, and a net weekly fund inflow of 4.023 billion yuan [6]. Commodity Funds - Commodity funds include gold, soybean meal, non - ferrous metals, and energy and chemical products. Gold funds have a scale of 70.887 billion yuan, a weekly increase of 2.11%, and a net weekly fund outflow of 3.123 billion yuan [6]. Index - Enhanced Funds - Index - enhanced funds cover various indices. For example, the Shanghai Composite 50 index - enhanced fund has a scale of 76 million yuan, a weekly increase of 0.35%, and a net weekly fund outflow of 1 million yuan [6].