Wind数据显示，截至12月26日，全市场1284只股票ETF（含跨境ETF）总规模为4.79万亿元。若按照区间成交均价测算，12月26日股票ETF整体净流入资 金为103.71亿元。 从大类型来看，12月26日，宽基ETF净流入金额居前，达123.06亿元。 【导读】12月26日股票ETF净流入超100亿元 12月26日，A股三大股指集体收涨，沪指实现日线八连阳，两市成交额显著放量。在市场震荡上扬之时，股票ETF单日净流入103.71亿元。多数宽基ETF 获资金青睐，中证1000、中证500、沪深300、上证50、中证A500等指数ETF均获大举加仓，而国防军工ETF和黄金ETF净流出金额居前。 宽基ETF获大举加仓 华夏基金ETF方面，12月26日，旗下科创50ETF和A500ETF基金分别净流入7.1亿元和4.65亿元；沪深300ETF华夏净流入2.23亿元，同样位居前列。 行业主题ETF资金净流出居前 12月26日，行业主题板块成为"失血"大户，单日净流出合计20.98亿元。 净流出前5板块分别为国防军工、黄金、人工智能、证券、稀土，净流出分别达11.5亿元、6.6亿元、5.9亿元、4.2亿元、3亿元 ...

【导读】 12 月 26 日股票 ETF 净流入超 100 亿元 中国基金报记者 王思文 12 月 26 日， A 股三大股指集体收涨，沪指实现日线八连阳，两市成交额显著放量。在市场震荡上扬之时，股票 ETF 单日净流入 103.71 亿元。多数宽基 ETF 获资金青睐，中证 1000 、中证 500 、沪深 300 、上证 50 、中证 A500等指数 ETF 均获大举加仓，而国 防军工ETF和黄金 ETF 净流出金额居前。 宽基 ETF 获大举加仓 Wind 数据显示，截至 12 月 26 日，全市场 1284 只股票 ETF （含跨境 ETF ）总规模为 4.79 万亿元。若按照区间成交均价测算， 12 月 26 日股票 ETF 整体净流入资金为 103.71 亿元。 从大类型来看， 12 月 26 日，宽基 ETF 净流入金额居前，达 123.06 亿元。 具体来看，中证 1000 指数ETF单日净流入居前，达 30.5 亿元。单只 ETF 方面， 南方基金旗下中证 1000ETF 单日净流入达 16.92 亿 元；华夏基金旗下 中证 1000ETF 单日净流入 8.42 亿元，最新规模达 500.1 ...

- The report does not contain any specific quantitative models or factors for analysis[1][2][3] - The report primarily focuses on market trends, fund flows, and sector performance, highlighting the increased preference for dividend-paying industries amidst market volatility[5][14][19] - It provides detailed data on fund flows, including net inflows and outflows across various ETF categories such as TMT, financials, consumption, and cyclical manufacturing sectors[33][34][61] - The report also discusses the weekly performance of major indices, sector indices, and individual funds, providing percentage changes and rankings[14][15][20][56][57] - Active equity funds maintained high positions, with average positions slightly adjusted across different fund types[21][24][28] - The report includes information on newly established and issued funds, detailing their types, managers, and issuance scales[63][64][66]

- The market maintained a volatile trend, with active equity funds shifting towards a barbell configuration[1][2][3] - As of September 26, 2025, the average position of active equity funds was approximately 90.31%[2][20] - Over the past three months, public funds have increased their allocation to large-cap growth stocks, with the allocation rising to 32.35%[3][27] - This week, active equity funds increased their allocation to the electronics industry by approximately 0.47 percentage points, reaching 18.72%[4][30] - The top five active equity funds with the highest net value growth this week were Southern Information Innovation Hybrid A, Nuohang Research Preferred Hybrid A, Oriental Artificial Intelligence Theme Hybrid A, Huian Runyang Three-Year Holding Hybrid A, and Yinhuaji Integrated Circuit Hybrid A, with weekly net value growth rates of 14.80%, 14.31%, 13.80%, 12.92%, and 12.58%, respectively[5][18][19]

Market Overview - A-shares experienced an upward trend last week, with major indices rising and trading volume remaining high [1] - Among the 31 Shenwan first-level industries, communication, electronics, and non-bank financials performed relatively well [1] Macro Data Analysis - In July 2025, the central bank reported a decrease in new RMB loans by 50 billion, against a market expectation of a decrease of 15 billion, with a previous value of 22,400 billion [4] - The total social financing scale was 11,600 billion, below the market expectation of 14,100 billion and significantly lower than the previous value of 41,993 billion [4] - M2 year-on-year growth was 8.8%, exceeding the market expectation of 8.3% [4] - A notable increase in government bond financing by 12,440 billion year-on-year, indicating a strong driving force [4] - A significant decline in household deposits by 11,100 billion year-on-year, suggesting a trend of "deposit migration" [4] Economic Indicators - The industrial added value for July increased by 5.7% year-on-year, but decreased by 1.1 percentage points month-on-month [5] - Retail sales for July reached 3.9 trillion, with a year-on-year increase of 3.7%, but also a month-on-month decline of 1.1 percentage points [5] - Fixed asset investment from January to July grew by 1.6% year-on-year, a decrease of 1.2 percentage points compared to the first half of the year [5] - Manufacturing investment saw a cumulative year-on-year decline of 6.2%, marking four consecutive months of slowdown [6] Market Strategy Outlook - The market showed strong fluctuations last week, with liquidity remaining ample and a bullish sentiment prevailing [7] - The current two-margin balance as a percentage of total A-share market capitalization is 2.08%, significantly lower than the 5% seen in 2015 [7] - Despite concerns over potential economic downturns in Q3, the supportive monetary policy and low-interest environment continue to foster liquidity [7] Long-term Perspectives - The long-term dynamics of the US-China relationship have been established, with international capital markets questioning the US government's governance capabilities [8] - Opportunities may arise in domestic demand, technology, and overseas expansion, particularly for undervalued stocks [8] Industry Insights - Defensive dividend sectors are recommended for allocation, while a "barbell strategy" remains effective in the current market environment [9] - The banking sector is showing signs of stabilization, with expectations of increased insurance capital inflow supporting dividend sectors [9] - In the offensive sector, technology remains a focus, especially with potential trading opportunities arising from domestic policy stability [9]

Group 1 - The market experienced a slight adjustment last week, with the brand index closing at 1657.60 points, while several component stocks rose against the trend, including Xinlitai, Tigermed, and Stone Technology [1][2] - Xinlitai led the gains with an increase of 14.96%, followed by Tigermed at 12.48%, and Stone Technology at 11.47%. Other notable gainers included Three Squirrels and Supor, which rose by 7.69% and 6.07% respectively [2] - Since the beginning of 2025, Maimai Biological has seen a significant increase of 51.27%, with Shanghai Jahwa and Xinlitai also showing strong performance with gains of 47.96% and 47.71% respectively [3] Group 2 - Looking ahead, the market is expected to gradually shift towards a more positive trend as investors remain sensitive to favorable factors, with ongoing accumulation of positive elements supporting economic expectations and fundamentals [4] - The current market structure indicates a potential for mid-term positive performance, driven by policy support, domestic technological breakthroughs, and a favorable external environment, which may enhance liquidity in the domestic capital market [4] - In the medium to long term, opportunities may arise in sectors such as domestic demand, technology, and overseas expansion, with a focus on defensive dividend sectors and aggressive technology sectors, including internet and robotics [5]