Market Overview - The A-share market experienced a volatile upward trend, with over 3,200 stocks in the market showing gains. Sectors such as innovative drugs, beauty care, airport shipping, retail, complete automobiles, and software development led the gains, while sectors like photolithography, port shipping, military equipment, rare earth permanent magnets, controllable nuclear fusion, and non-ferrous metals saw declines [1] - The Hong Kong stock market rebounded collectively, with major internet companies generally rising, and innovative drugs showing signs of recovery [1] Index Performance - As of the midday close, the CSI A500 index decreased by 0.04%, the CSI 300 index fell by 0.03%, the ChiNext index rose by 0.2%, and the SSE STAR 50 index dropped by 0.6%. The Hang Seng China Enterprises Index increased by 1.1% [1] - The CSI 300 index consists of 300 stocks from the Shanghai and Shenzhen markets, covering 11 primary industries, with a rolling P/E ratio of 14.1 times and a valuation percentile of 64.5% since its inception in 2005 [3] - The CSI A500 index includes 500 securities from various industries, covering 91 out of 93 tertiary industries, with a rolling P/E ratio of 16.7 times and a valuation percentile of 71.8% since its inception in 2004 [3] - The ChiNext index, which tracks 100 stocks from the ChiNext board, has a rolling P/E ratio of 41.7 times and a valuation percentile of 37.1% since its inception in 2010 [3] - The SSE STAR 50 index, composed of 50 stocks from the STAR market, has a rolling P/E ratio of 180.4 times and a valuation percentile of 98.6% since its inception in 2020 [3] Hong Kong Market Index - The H-share ETF tracks the Hang Seng China Enterprises Index, which consists of 50 large-cap, actively traded stocks listed in Hong Kong, covering a wide range of industries. The index increased by 1.1% with a rolling P/E ratio of 10.5 times and a valuation percentile of 64.1% since its inception in 2002 [4]