Market Overview - The A-share market experienced a significant pullback last week, with major indices declining, particularly the North Securities 50 and Wind Micro Stock Index, which fell by 9.04% and 7.8% respectively, indicating substantial selling pressure on small-cap and micro-cap stocks [1] - The ChiNext Index dropped over 6%, reflecting a notable retreat in growth sectors, while the Shanghai 50 and Dividend Index saw relatively smaller declines of 2.72% and 2.93% respectively, highlighting a structural divergence in the market [1] - All Wind primary industry indices fell last week, with an average decline of approximately 4.5%, driven by negative macro sentiment, particularly in materials, healthcare, and industrial sectors, which all saw declines exceeding 6.6% [1][11] Fund Issuance and Performance - A total of 35 funds were issued last week, including 16 equity funds, 10 mixed funds, 4 bond funds, 1 QDII fund, 1 REITs fund, and 3 FOF funds, with a total issuance of 36.035 billion units [15] - The Wind All Fund Index fell by 2.62% last week, with ordinary equity fund indices down by 5.13% and mixed equity fund indices down by 4.99% [6][15] Global Market Context - Global equity markets showed weakness, with the S&P 500 down 1.95%, the Dow Jones down 1.91%, and the Nasdaq down 2.74%. Asian markets also faced pressure, with the Nikkei 225 down 3.48% and the Hang Seng Index leading global declines at 5.09% [3] - Commodity markets mostly declined, with coking coal experiencing a significant drop of 8.16%, while crude oil fell by 3.41% and gold saw a slight decrease of 0.77% [3] Domestic Bond Market - The bond market exhibited cautious sentiment, with the China Securities Convertible Bond Index declining by 1.78%. The 10-year government bond futures saw a slight increase of 0.04%, while the 30-year main contract fell by 0.43% [12]