- The report primarily focuses on tracking and analyzing market data of major broad-based indices in the A-share market, including their performance, moving averages, turnover rates, risk premiums, PE-TTM, dividend yields, and net-breaking rates [1][3][4] - **Market Performance**: All broad-based indices showed positive growth on February 9, 2026, with the highest daily increase observed in the ChiNext Index (2.98%) and CSI 1000 (2.26%). Year-to-date, CSI 500 recorded the highest growth (11.33%), followed by CSI 2000 (10.07%) and CSI 1000 (8.41%) [3][12][16] - **Moving Averages**: All indices surpassed their 5-day moving averages. CSI 500 and CSI 1000 remained below their 20-day moving averages, while other indices exceeded their 10-day and 20-day moving averages [14][15] - **Turnover Rates**: CSI 2000 had the highest turnover rate (4.02%), followed by ChiNext Index (3.55%) and CSI 1000 (2.85%). The turnover rate calculation formula is: $ \text{Turnover Rate} = \frac{\Sigma(\text{Circulating Shares of Constituents} \times \text{Turnover Rate of Constituents})}{\Sigma(\text{Circulating Shares of Constituents})} $ [18] - **Risk Premiums**: Risk premiums were calculated relative to the 10-year government bond yield. CSI 500 (96.67%) and CSI All Share (96.35%) had the highest 5-year percentile values, while CSI 2000 (94.21%) and SSE 50 (92.62%) had lower values. CSI 1000 and CSI 2000 exhibited higher volatility in risk premiums [27][28][30] - **PE-TTM Analysis**: CSI 500 and CSI All Share had the highest 5-year percentile values (99.26%), indicating elevated valuations. Conversely, SSE 50 (83.8%) and ChiNext Index (64.71%) had lower percentile values. The PE-TTM formula is: $ \text{PE-TTM} = \frac{\text{Market Price}}{\text{Trailing Twelve Months Earnings}} $ [38][41][42] - **Dividend Yields**: Dividend yields were tracked to assess cash return rates. ChiNext Index (55.29%) and CSI 300 (37.02%) had the highest 5-year historical percentile values, while CSI 500 (4.46%) and CSI 2000 (0.83%) were significantly lower [47][50][52] - **Net-Breaking Rates**: Net-breaking rates reflect the proportion of stocks trading below their book value. Current rates were highest for SSE 50 (24.0%) and lowest for CSI 2000 (2.4%) [54][57][59]

- The report does not contain any specific quantitative models or factors, nor does it provide details on their construction or evaluation [1][2][3] - The report primarily focuses on tracking and analyzing the performance of broad-based indices in the A-share market, including metrics such as daily returns, moving averages, turnover rates, risk premiums, PE-TTM, dividend yields, and price-to-book ratios [5][6][19][28][40][49][55] - The analysis includes comparisons of indices against their historical averages, standard deviations, and percentile rankings over the past 1 and 5 years, providing insights into valuation and market sentiment [32][43][45][54] - Key indices analyzed include the SSE 50, CSI 300, CSI 500, CSI 1000, CSI 2000, CSI All Share, and ChiNext Index, with detailed metrics such as risk premiums, PE-TTM values, dividend yields, and net asset ratios provided for each index [13][19][32][45][54][58] - The report highlights the relative valuation and investment attractiveness of these indices based on their historical positioning and current market conditions, but does not delve into specific quantitative factor or model construction [43][45][54]

- The report tracks and analyzes the market data of major indices, including their daily performance, moving averages, trading volume, and turnover rates[2][3][4] - The report evaluates the distribution of daily returns for various indices, highlighting the kurtosis and skewness of these distributions[25][26] - The report assesses the risk premium of different indices relative to the 10-year government bond yield, providing insights into their relative investment value and deviation[28][29][30] - The report examines the PE-TTM (Price-to-Earnings ratio based on trailing twelve months) of various indices, considering their historical percentiles and current values to gauge investment attractiveness[40][43][44] - The report analyzes the stock-bond yield ratio, comparing the inverse of the PE-TTM with the 10-year government bond yield to determine the relative attractiveness of stocks versus bonds[47] - The report tracks the dividend yield of different indices, noting their historical percentiles and current values to assess the attractiveness of dividend-paying stocks[48][49][54] - The report monitors the percentage of stocks trading below their book value (PB ratio < 1) within each index, indicating market valuation attitudes and potential undervaluation[55][58][60]

- The report tracks and analyzes the market data of major indices, including their performance, moving averages, turnover rates, and risk premiums[1][2][3] - The indices' daily performance is evaluated, with the CSI 500 showing the highest annual increase of 13.95%, followed by the CSI 1000 and CSI 2000[10] - The comparison of indices with their moving averages and the highest and lowest points over the past 250 trading days is provided, showing significant pullbacks after reaching new highs[12][13] - The turnover rates of various indices are analyzed, with the CSI 2000 having the highest turnover rate of 5.34%[16] - The distribution of daily returns is examined, with the ChiNext Index showing the largest negative skewness and the CSI 500 the smallest[22][23] - The risk premiums of the indices relative to the 10-year government bond yield are calculated, with the Shanghai 50 and CSI 300 having the highest 5-year percentile values[25][26][29] - The PE-TTM ratios of the indices are analyzed, with the CSI 500 and CSI 1000 having the highest 5-year percentile values of 99.92%[37][40][41] - The dividend yields of the indices are tracked, with the ChiNext Index and CSI 300 having the highest 5-year historical percentile values[45][51][53] - The percentage of stocks trading below their net asset value is analyzed, with the Shanghai 50 having the highest percentage of 24.0%[52][55]

- The report tracks and analyzes the market data of major indices such as CSI 500, CSI 1000, and others, focusing on their daily performance, moving averages, and trading volumes[1][2][3] - The indices' daily performance shows that CSI 500 and CSI 1000 had the highest gains on January 7, 2026, with 0.78% and 0.53% respectively, while SSE 50 and CSI 300 had the largest declines with -0.43% and -0.29% respectively[2][3] - The moving averages comparison indicates that all tracked indices are above their 5 to 60-day moving averages, with some indices like CSI 500 and CSI 1000 breaking their 250-day highs[3][14][15] - The trading volume analysis shows that CSI 300 had the highest trading volume share at 23.55%, followed by CSI 2000 at 21.98% and CSI 1000 at 21.88%[4][18] - The turnover rates for the indices are also provided, with CSI 2000 having the highest turnover rate at 4.7, and SSE 50 having the lowest at 0.31[4][18] - The report includes a detailed analysis of the daily return distribution of the indices, highlighting that the ChiNext Index has the highest negative skewness and kurtosis, while CSI 1000 has the lowest[4][25][27] - The risk premium analysis shows that CSI 500 and CSI 1000 have high 5-year percentile values of 76.19% and 65.0% respectively, while CSI 300 and SSE 50 have lower values of 38.57% and 31.27% respectively[4][29][33] - The PE-TTM analysis indicates that CSI 500 and CSI 1000 have high 5-year percentile values of 99.92%, while CSI 2000 and ChiNext Index have lower values of 90.0% and 62.98% respectively[4][44][45] - The dividend yield analysis shows that ChiNext Index and CSI 300 have high 5-year historical percentile values of 57.77% and 32.23% respectively, while CSI 500 and CSI 2000 have lower values of 9.67% and 5.04% respectively[5][52][54] - The report also tracks the net asset value break rate, indicating that SSE 50 has the highest break rate at 24.0%, while CSI 2000 has the lowest at 3.1%[5][59]

- The report primarily focuses on tracking and analyzing the performance of broad-based indices in the A-share market, including metrics such as daily returns, moving averages, turnover rates, risk premiums, PE-TTM, dividend yields, and price-to-book ratios[1][2][3] - The turnover rate of indices is calculated using the formula: $ \text{Turnover Rate} = \frac{\Sigma(\text{Component Stocks' Free Float Shares} \times \text{Component Stocks' Turnover Rate})}{\Sigma(\text{Component Stocks' Free Float Shares})} $ This metric reflects the liquidity and trading activity of the indices[15] - The risk premium is measured relative to the 10-year government bond yield, serving as a benchmark for assessing the relative investment value and deviation of indices. The report highlights that indices like CSI 500 and SSE 50 exhibit high 5-year percentile values for risk premiums, indicating relatively attractive valuations[25][26][29] - The PE-TTM (Price-to-Earnings Trailing Twelve Months) is used as a valuation metric, with indices such as CSI 500 and CSI All Share showing high 5-year percentile values (99.92%), suggesting elevated valuations compared to historical levels[37][40][42] - Dividend yield is analyzed as a measure of cash return to investors, with indices like the ChiNext Index and CSI 300 showing relatively high 5-year historical percentile values (57.93% and 31.65%, respectively), indicating their attractiveness during periods of market downturns or declining interest rates[46][51][53] - The price-to-book ratio (P/B) is evaluated through the "break net ratio," which measures the proportion of stocks trading below their book value. The report notes that indices such as SSE 50 and CSI 300 have higher break net ratios, reflecting market sentiment and valuation levels[52][55]

- The report primarily focuses on tracking and analyzing the performance of broad-based indices in the A-share market, including metrics such as daily returns, turnover rates, risk premiums, PE-TTM, dividend yields, and net asset break rates[1][2][3] - **Risk Premium Analysis**: The risk premium is calculated using the yield of 10-year government bonds as the risk-free rate. The report highlights that indices like CSI 500 (52.54%) and CSI 2000 (48.73%) have relatively high 5-year percentile values, while indices like SSE 50 (30.87%) and ChiNext (19.05%) are lower. The risk premium for CSI 500 and CSI 2000 shows higher volatility compared to other indices[29][31][33] - **PE-TTM Analysis**: The PE-TTM values are used as a valuation reference. CSI 500 (97.6%) and CSI All Share (96.28%) have high 5-year percentile values, while SSE 50 (85.7%) and ChiNext (58.43%) are relatively lower. The report notes that the valuation levels of most indices have been on an upward trend since late 2024, with a turning point observed in September 2025[41][44][45] - **Dividend Yield Analysis**: Dividend yield is analyzed as a measure of cash return. ChiNext (61.57%) and CSI 1000 (35.79%) are at relatively high 5-year historical percentiles, while CSI 500 (15.62%) and CSI 2000 (12.81%) are lower. The report emphasizes the importance of high dividend yields during periods of market downturns and declining interest rates[50][55][57] - **Net Asset Break Rate**: The net asset break rate, which reflects the proportion of stocks trading below their net asset value, is used as a market valuation indicator. Current break rates are reported as SSE 50 (22.0%), CSI 500 (11.2%), CSI 1000 (8.1%), and CSI 2000 (3.55%), among others. A lower break rate may indicate market optimism about future growth[56][59][61]

- The report primarily focuses on tracking and analyzing the performance of broad-based indices in the A-share market, including their daily returns, moving averages, turnover rates, and valuation metrics such as PE-TTM and dividend yield[1][2][4] - The turnover rate of the indices is calculated using the formula: $ \text{Turnover Rate} = \frac{\Sigma(\text{Component Stock Free Float Shares} \times \text{Component Stock Turnover Rate})}{\Sigma(\text{Component Stock Free Float Shares})} $ This metric reflects the liquidity and trading activity of the indices[19] - The risk premium of the indices is measured relative to the 10-year government bond yield, serving as a benchmark for risk-free rates. The report highlights the mean-reversion behavior of risk premiums and their volatility trends over time[29][30] - The PE-TTM (Price-to-Earnings Trailing Twelve Months) is used as a valuation metric to assess the investment value of indices. The report observes that the PE-TTM values of indices like CSI 500 and CSI All Share are at relatively high historical percentiles, while indices like SSE 50 and ChiNext are at lower percentiles[41][44][45] - Dividend yield is analyzed as a measure of cash return to investors. The report notes that indices such as ChiNext and CSI 300 have relatively high historical percentiles for dividend yield, while CSI 500 and CSI 2000 are at lower percentiles[50][52][56] - The report also tracks the net asset value (NAV) break rate, which indicates the proportion of stocks trading below their book value. A higher break rate suggests undervaluation, while a lower rate may indicate market optimism. Current break rates for indices like SSE 50 and CSI 300 are higher compared to others like CSI 2000 and CSI All Share[57][59]

- The report tracks the performance of various broad-based indices in the A-share market, noting that on December 24, 2025, all indices except the SSE 50 increased, with the CSI 2000 and CSI 1000 showing the largest gains of 1.55% and 1.54%, respectively[2] - The report compares the moving averages of the indices, highlighting that the CSI 1000 broke through the 60-day moving average, and all tracked indices are above the 5, 10, 20, and 60-day moving averages[13] - The report analyzes the trading volume and turnover rates, noting that on December 24, 2025, the CSI 2000 had the highest trading volume share at 24.78%, followed by the CSI 300 and CSI 1000, both at 21.96%[17] - The report examines the daily return distribution, indicating that the ChiNext Index has the largest negative skewness and kurtosis, while the CSI 2000 has the smallest negative skewness and kurtosis[23][25] - The report evaluates the risk premium of the indices relative to the 10-year government bond yield, noting that the CSI 1000 and CSI 500 have high 5-year percentile values of 89.44% and 88.1%, respectively, while the CSI 300 and SSE 50 have lower values of 64.21% and 47.46%[28][31] - The report assesses the PE-TTM ratios of the indices, highlighting that the CSI 500 and CSI 1000 have high 5-year percentile values of 96.94% and 94.63%, respectively, while the SSE 50 and ChiNext Index have lower values of 84.05% and 59.17%[42][43] - The report analyzes the dividend yield, noting that the ChiNext Index and CSI 1000 have high 5-year historical percentile values of 61.32% and 39.09%, respectively, while the CSI 500 and CSI 2000 have lower values of 17.77% and 16.36%[51][53] - The report examines the net asset value break rate, indicating that the current break rates for the indices are 22.0% for the SSE 50, 16.0% for the CSI 300, 10.8% for the CSI 500, 8.0% for the CSI 1000, 3.25% for the CSI 2000, and 6.14% for the CSI All Share Index[57]

- The report primarily focuses on tracking and analyzing the performance of broad-based indices in the A-share market, including their daily investment dynamics, moving averages, turnover rates, risk premiums, PE-TTM, dividend yields, and net asset break rates[1][2][4] - The turnover rate of the indices is calculated as the sum of the free-float market capitalization of constituent stocks multiplied by their turnover rates, divided by the total free-float market capitalization of the constituent stocks[17] - The risk premium is measured relative to the yield of 10-year government bonds, serving as a reference for risk-free rates, to evaluate the relative investment value and deviation of the indices[27][29] - The PE-TTM (Price-to-Earnings Trailing Twelve Months) is used as a valuation reference to assess the investment value of the indices at the current point in time[37][41] - Dividend yield is tracked to reflect the cash dividend return rate, which is particularly significant during market downturns as high dividend yields often act as a safe haven[46][51] - The net asset break rate is defined as the proportion of stocks with a price-to-book ratio below 1, indicating undervaluation in the market[52][55]