Market Overview - The Shanghai Composite Index fell by 0.64% to close at 4138.76 points, with a high of 4179.7 points during the day [1] - The Shenzhen Component Index decreased by 1.37% to 14169.4 points, reaching a peak of 14458.88 points [1] - The ChiNext Index dropped by 1.96% to 3321.89 points, with a maximum of 3416.84 points [1] ETF Market Performance - The median return of stock ETFs was -0.95% [2] - The highest performing scale index ETF was the Bosera CSI A100 ETF with a return of 1.72% [2] - The highest performing industry index ETF was the Yinhua CSI All-Share Power Utility ETF with a return of 2.1% [2] - The highest performing strategy index ETF was the E Fund National Free Cash Flow ETF with a return of 0.83% [2] - The highest performing style index ETF was the Harvest CSI Pharmaceutical Health 100 Strategy ETF with a return of 1.82% [2] - The highest performing thematic index ETF was the Guotai Hangseng A-Share Power Equipment ETF with a return of 7.37% [2] ETF Performance Rankings - The top three ETFs by return were: - Guotai Hangseng A-Share Power Equipment ETF (7.37%) - Yinhua CSI Oil and Gas Resources ETF (2.84%) - Huaxia CSI Power Equipment Thematic ETF (2.83%) [5] - The top three ETFs by decline were: - Morgan CSI Innovation and Entrepreneurship Artificial Intelligence ETF (-11.42%) - Huaxia National Aerospace Industry ETF (-9.36%) - Huatai Baichuan CSI All-Share Aerospace ETF (-9.17%) [6] ETF Fund Flows - The top three ETFs by fund inflow were: - GF CSI Media ETF (inflow of 4.122 billion) - Yongying National Commercial Satellite Communication Industry ETF (inflow of 1.886 billion) - Harvest CSI Software Service ETF (inflow of 1.507 billion) [8] - The top three ETFs by fund outflow were: - Huaxia SSE 50 ETF (outflow of 1.448 billion) - E Fund ChiNext ETF (outflow of 1.386 billion) - Huaxia CSI Robot ETF (outflow of 572 million) [10] ETF Margin Trading Overview - The top three ETFs by margin buying were: - Huaxia SSE Sci-Tech Innovation Board 50 ETF (0.95 billion) - GF CSI Media ETF (0.747 billion) - Guotai CSI All-Share Securities Company ETF (0.568 billion) [11] - The top three ETFs by margin selling were: - Huatai Baichuan CSI 300 ETF (33.78 million) - Huaxia SSE 50 ETF (24.27 million) - Southern CSI 500 ETF (15.93 million) [13] Institutional Insights - Huaxin Securities highlighted the ongoing modernization of the power grid and the expanding equipment gap, noting that North America's long-term investment in key areas like high-voltage transformers and distribution equipment has been insufficient [13] - The demand for high-voltage and ultra-high-voltage transformers, switching equipment, and digital grid infrastructure is expected to increase as the grid enters an accelerated investment cycle [13] - Guotai Securities anticipates that domestic power grid investment will maintain a high level of activity, benefiting from proactive fiscal policies aimed at expanding domestic demand [14]