【关税已趋于缓和，全球风险偏好回暖】 消息面上，中美经贸高层会谈联合声明发布，双方同意大幅降低双边关税水平。双方将建立机制，继续 就经贸关系进行协商。根据需要，双方可就相关经贸议题开展工作层面磋商。 国泰海通研报表示，关税缓和下全球风险偏好回暖。海外流动性边际转紧，全球央行降息预期延后。从 经济景气预期看，美国、欧洲边际改善，中国继续抬升。 相关ETF方面，截至2025年5月12日收盘，人工智能ETF科创(588760)上涨1.63%。拉长时间看，截至 2025年5月12日，人工智能ETF科创近2周累计上涨5.05%。流动性方面，拉长时间看，截至5月12日，人 工智能ETF科创近1年日均成交1.63亿元，居可比基金前2。 规模方面，人工智能ETF科创最新规模达14.89亿元，创成立以来新高。份额方面，人工智能ETF科创近 1周份额增长1.62亿份，实现显著增长，新增份额位居可比基金第一。资金流入方面，拉长时间看，近5 个交易日内有3日资金净流入，合计"吸金"1.21亿元，日均净流入达2413.99万元。 | 0.562 +0.009 +1.63% | | | 人工智能ETF科创 ① | | | | --- | ...

Group 1 - The core viewpoint highlights significant growth in the Sci-Tech Chip ETF, with a trading volume of 1.647 billion yuan and a turnover rate of 7.41% [3] - The Sci-Tech Chip ETF has seen a substantial increase in scale, growing by 17.349 billion yuan over the past year [3] - The latest share count for the Sci-Tech Chip ETF reached 15.571 billion, marking a three-month high [3] Group 2 - Recent net inflow of funds into the Sci-Tech Chip ETF amounted to 75.432 million yuan, with three out of the last four trading days showing net inflows totaling 213 million yuan [3] - Leverage funds are actively investing, with the latest margin buying amounting to 169 million yuan and a margin balance of 1.533 billion yuan [3] - According to CITIC Securities, the rapid development of AI applications is expected to drive sustained growth in upstream material demand, with a focus on semiconductor new materials related to AI investment themes [3] Group 3 - As of March 31, 2025, the top ten weighted stocks in the Shanghai Stock Exchange Sci-Tech Chip Index include SMIC, Haiguang Information, and Cambricon, collectively accounting for 57.96% of the index [3] - Investors without stock accounts can access investment opportunities in domestic chips through the Sci-Tech Chip ETF linked fund (017470) [3]