Market Performance - During the National Day holiday (October 1-7, 2025), the Nasdaq, S&P 500, and Dow Jones Industrial Average increased by 0.57%, 0.39%, and 0.44% respectively[3] - The Nasdaq China Technology Index rose by 1.59%, while the Hang Seng Index increased by 0.38% during the same period[3] Bond Market - U.S. Treasury yields primarily decreased, with the 10-year yield falling by 2 basis points to 4.14% as of October 7, 2025[4] - The yield curve steepened, with all maturities except for the 30-year remaining unchanged or decreasing during the holiday[4] Currency Trends - The U.S. Dollar Index increased by 0.78%, with the dollar appreciating against the Euro, Pound, and Yen by 0.65%, 0.17%, and 2.70% respectively[5] - The offshore RMB depreciated against the U.S. dollar, rising to 7.1458, a 0.24% increase[5] Gold Market - Gold prices surged, with London spot gold rising by 4.02% to $3979.00 per ounce, and COMEX gold futures increasing by 3.40% to the same price[6] - A rebound in domestic gold prices is anticipated post-holiday due to the significant rise in international prices[6] Economic Uncertainty - The U.S. government shutdown began on October 1, 2025, due to budget disagreements, which may lead to increased unemployment and reduced consumer spending, negatively impacting GDP growth[7] - The delay in non-farm payroll data release adds to economic uncertainty, affecting market predictions[8] Political Developments - Japan's political landscape may shift with the election of the first female president of the Liberal Democratic Party, which could escalate geopolitical tensions in East Asia due to her conservative stance[9] Monetary Policy - The central bank plans to conduct a 1.1 trillion yuan reverse repo on October 9, 2025, to maintain liquidity, despite a net withdrawal in October due to maturing repos[10] Consumer Spending - The fourth batch of 690 billion yuan in special bonds for consumer goods has been allocated, expected to boost retail sales in the fourth quarter[10] Investment Strategy - The market may present structural investment opportunities in sectors such as AI, energy storage, and gold, while the bond market remains attractive despite short-term risks[11]

此外，截至目前，科创板ETF产品共102只，总规模近3000亿元，较《关于深化科创板改革服务科技创 新和新质生产力发展的八条措施》发布前规模增长超80%。其中，科创板宽基ETF共59只，规模合计 2150亿元，投资标的覆盖科创50、科创100、科创200、科创综指，充分满足投资者对科创板大盘、中 盘、小盘、综合的投资需求。科创板行业主题ETF共37只，规模合计757亿元，投资标的覆盖的细分领 域包括人工智能、新能源、芯片、创新药等新质生产力关键领域。 同时，截至目前，沪市宽基ETF规模超1.8万亿元，今年以来已约有60只宽基ETF在上交所上市，标的涵 盖上证180、中证A500、科创综指、科创50等重要指数。沪市宽基产品的长期投资表现突出，是投资者 一键配置中国核心资产的良好工具。 本报讯(记者毛艺融)境内交易型开放式指数基金(ETF)市场持续吸引资金布局，成为投资者便捷捕捉市 场机遇的重要工具。最新数据显示，境内ETF总规模约5.5万亿元，已超越日本，是亚洲最大的ETF市 场，其中沪市ETF规模占比超七成。目前，沪市ETF规模达3.9万亿元，其中股票ETF规模2.6万亿元，债 券ETF规模超5300亿元。沪 ...

招商证券国际发表报告称，和誉开发的匹米替尼作为全球疗效最优CSF-1R小分子，即将在中美两地上 市，给公司带来持续销售分成。该行认为默克对该分子寄予厚望，有望在全球做到接近15亿美元高峰的 销售收入。花旗此前则表示，公司估值仅反映其两款后期候选药物匹米替尼及依帕戈替尼价值，其具高 授权潜力的差异化创新药则尚未被市场充分认可。 智通财经APP获悉，和誉-B(02256)早盘涨超8%，截至发稿，涨8.2%，报19.4港元，成交额5846.51万港 元。 ...

三季度港股通持股量环比增幅榜第一名，恒瑞医药直接飙出5879%的离谱数字，换算下来就是58倍，把"医药龙头被买爆"写成了铁证。 5月23日恒瑞才登陆港股，发行价42港元左右，募了113亿，一上市就把"A股稀缺资产"标签贴在自己脑门上。 上市当天港股通持仓才70万股出头，到了9月30日变成4287万股，三个月干出60倍量级，平均每个交易日净增20多万股，南下资金像设定好程序一样天天扫 货。 港交所18A规则让未盈利生物科技公司也能上市，但恒瑞不是"故事股"，2024年净利63亿人民币，账上现金流充沛，南下资金买的是真盈利 真出海，不是单 纯蹭创新药概念。 对比一下更直观：三季度港股通增持榜第二名健康之路增幅1000%，不到恒瑞的五分之一；第三名国富氢能1200%，也只有恒瑞的一个零头，医药赛道 里"买爆"的座次毫无悬念。 从盘面看，恒瑞H股每天成交稳定在3-5亿港元，盘中挂单十档里经常九档是买盘，机构盘、零售盘一起抢，把"折价发行"硬生生干成"溢价交易"，发行价折 价25%的历史只在5月停留了两天。 7月28日恒瑞和GSK签下大单，5亿美元首付 最高120亿美元里程碑，港股开盘十分钟就拉涨10%，当天收在79港 ...

Group 1 - The Hang Seng Index opened down 0.5%, while the Hang Seng Tech Index opened down 1.12% [1] - New energy vehicle stocks were weak, with Li Auto down nearly 3% leading the decline, and blue-chip stocks like Xpeng Motors down over 4% [1] - The gold sector saw gains, with Zijin Mining International up nearly 2% and China Gold International up 1% [1] Group 2 - Guosen Securities reported that the influence of Chinese pricing is becoming increasingly significant, aided by a more dovish stance from the Federal Reserve, which improves overseas liquidity [2] - In September, the Hong Kong stock market significantly outperformed the A-share market, with the Hang Seng Index rising 7.1% and the Hang Seng Tech Index rising 13.9% [2] - The weighted risk premium framework based on Chinese bond rates is beginning to systematically take effect, opening up space for further upward movement in the Hong Kong stock market [2] - The target price for the Hong Kong stock market in 2025 has been raised to 29,000 points based on weighted risk premium calculations [2] Group 3 - The AI sector is currently leading the global capital markets, benefiting large internet companies and upstream players in the domestic computing power industry chain [3] - The innovative pharmaceutical sector continues to see upward revisions in performance, with potential for further growth upon the release of new business development projects [3]

Group 1 - China's financial data and foreign reserves for September will be disclosed this week, along with significant events such as the OpenAI annual developer conference and central bank leaders' speeches [1][2] - The week will see the release of various economic indicators, including Thailand's PPI and CPI, and the US trade balance figures [2][3] - Over 400 billion yuan in market value of restricted stocks will be unlocked this week, with a total of 20 companies releasing 1.187 billion shares valued at 446.85 billion yuan, a decrease from the previous week [3][4] Group 2 - The China Securities Regulatory Commission and the Ministry of Finance are seeking public opinion on the draft regulations for whistleblower rewards related to securities and futures violations, increasing the reward conditions significantly [5][6] - The National Development and Reform Commission has allocated 69 billion yuan in special bonds to support the consumption upgrade policy, completing the annual target of 300 billion yuan [7] - The Financial Regulatory Bureau is accelerating the development of guidelines for floating income health insurance to enhance the quality of health insurance products [8] Group 3 - The US Senate has rejected a bipartisan temporary funding bill, leading to a continued government shutdown, marking the first such event in seven years [9] - The A-share market saw record monthly trading volume in September, with a total turnover of approximately 53.2 trillion yuan, indicating strong market activity [10] - The market is expected to shift from a technology-led rally to a more balanced allocation strategy, with a focus on sectors like consumer electronics, automotive, and healthcare [17][18]

9月29日，据港交所官网，四川百利天恒药业股份有限公司（下称"百利天恒"）重新递交上市申请。据悉，这已经是该公司自去年筹划港股上市以来的第 三次递表。 值得一提的是，百利天恒刚刚完成A股定增，总计募资金额达到37.64亿元，发行价格为317元/股，此次募集资金将全部用于创新药研发项目。 实控人是四川新首富 资料显示，四川百利天恒药业股份有限公司于2023年1月6日上市，公司的主营业务是创新生物药业务板块和化药制剂、中成药制剂业务板块。公司的主要 产品是丙泊酚乳状注射液、丙泊酚中/长链脂肪乳注射液等。 作为一家热门创新药公司，百利天恒股价持续上涨，截至9月30日收盘，市值高达1550亿元。 2025年，朱义以571.6亿元财富位列《2025年新财富500创富榜》第53位。截至9月30日，持有百利天恒股票达72.22%的董事长朱义，其所持股份价值约 1128.53亿元，稳坐四川富豪头把交椅。 事实上，上市第二年，百利天恒在大幅扭亏为盈后，今年上半年又再度陷入亏损泥潭。2022年至2024年，公司营收分别为7.03亿元、5.62亿元、58.23亿 元，归母净利润分别为-2.82亿元、-7.80亿元、37.08亿元。 ...

中经记者 孙汝祥 夏欣 北京报道 上交所数据显示，截至目前，科创板ETF产品共102只，总规模近3000亿元，较"科创板八条"发布前规 模增长超80%。 其中，科创板宽基ETF共59只，规模合计2150亿元，投资标的覆盖科创50、科创100、科创200、科创综 指，充分满足投资者对科创板大盘、中盘、小盘、综合的投资需求。 科创板行业主题ETF共37只，规模合计757亿元，投资标的覆盖的细分领域包括人工智能、新能源、芯 片、创新药等新质生产力关键领域。 （编辑：夏欣 审核：何莎莎 校对：颜京宁） ...

来源：市场资讯 （来源：ETF万亿指数） 刚刚过去的9月，A股整体表现强势，主要指数均实现上涨，以新能源和半导体为代表的科技成长板块领跑，ETF市场也呈现出鲜明的结构性行情。 以下为主要指数和ETF行情回顾： 1、指数表现，创业板50九月领跑 9月，创业板50张14.4%，领跑主要宽基指数。创业板指涨12.0%，科创50指数涨11.5%，深证成指涨6.5%，上证指数涨0.6%，几大指数均实现月线五连 涨。 今年以来，科创创业50、科创100、科创200涨幅前三，分别张63%、59.6%、59.2%。 | 序号 指数名称 | | 今年以来 | 9月 | 8月 | 7月 | 6月 | 5月 | 4月 | 3月 | 2月 | 1月 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 涨幅 | | | | | | | | | | | 1 | 科创创办20 | 63.0% | 13.7% | 33.2% | 9.2% | 6.7% | -0.1% | -4.9% -6.0% | | 7.0% | -3.4% ...

1、 全市场53只基金年内收益率翻倍 。2025年前三季度落下帷幕，在这场结构性牛市中，公募基金行业迎来了丰收年， 主动权益类基金凭借出色的表现，打了一场漂亮的"翻身仗"。Wind数据显示，在AI算力和创新药两大景气赛道的支撑 下，截至9月30日，全市场53只基金年内收益率翻倍，科技成长风格成为最大赢家；同时，以黄金为代表的大宗商品也高 歌猛进，黄金ETF年内普遍上涨超40%。 3、 2024年社保基金交出亮眼成绩单 。不仅年度投资收益额达2184.18亿元、投资收益率8.10%，更实现长期业绩稳健， 自成立以来年均投资收益率7.39%，累计投资收益额突破1.9万亿元，达19009.98亿元。 4、 债券ETF持续扩容！ 今年以来，债券ETF市场迎来爆发式增长，成为ETF领域最受瞩目的资产类别。Wind数据显 示，截至9月30日，债券ETF总规模已达6950.54亿元，逼近7000亿元大关，较年初增长超5000亿元，增幅高达近300%， 成为年内规模增长最快的ETF品类。 1、 伯克希尔-哈撒韦和西方石油达成最终协议 。伯克希尔将以97亿美元的全现金交易收购西方石油的化工业务 OxyChem。西方石油预计将利 ...