中邮证券指出，稀有金属一方面受益于新能源车补贴温和利好信号释放，另一方面因部分磷酸铁锂厂计 划检修，年前供给相对紧缺，叠加行业对六氟磷酸锂需求预期较好，在供给稳步提升、需求整体持稳背 景下，碳酸锂预计将保持去库态势。政策端，今年2月，商务部会同海关总署发布通知，对包括钨在内 的多种稀有金属产品及相关技术实施出口管制；同时，国内对走私和非法开采的打击力度持续加大。在 政策约束下，国内外现货资源均趋紧，进一步推高价格。 2026年1月7日小金属板块涨势延续，截至13:19，中证稀有金属主题指数强势上涨1.64%，成分股中稀有 色10cm涨停，中科磁业上涨8.04%，中国稀土上涨5.99%，金力永磁、北方稀土等个股跟涨。 宏观市场层面，越南将稀土列为国家战略资源并禁止原矿出口，澳洲稀土巨头Lynas因电力问题导致产 能锐减，考虑到海外稀土产业链相关产能释放仍需时间及我国新增产能规模，中国仍主导全球稀土供 给；钴金属在当前出现明显供需缺口，由于出口国出口配额延期，未来国内钴原料供应将长期处于结构 性偏紧状态，价格或存在进一步上涨空间；在新能源汽车和储能需求的底层支撑下，锂相关产业去库存 趋势有望持续，锂价存在支撑，短 ...

Core Insights - The article provides an overview of the latest net value rankings of open-end funds, highlighting the top-performing and bottom-performing funds based on their net value growth [2][4]. Fund Performance Summary Top 10 Funds by Net Value Growth - The top-performing funds as of the 26th include: 1. 东方阿尔法瑞享混合发起A with a net value of 1.2748 and a growth of 6.12% 2. 东方阿尔法瑞享混合发起C with a net value of 1.2744 and a growth of 6.11% 3. 泰信发展主题混合 with a net value of 2.0900 and a growth of 5.72% 4. 东财价值启航A with a net value of 0.9008 and a growth of 5.70% 5. 东财价值启航C with a net value of 0.8852 and a growth of 5.70% 6. 申万菱信新能源汽车主题灵活配置混合C with a net value of 2.4980 and a growth of 5.45% 7. 申万菱信新能源汽车主题灵活配置混合A with a net value of 2.5080 and a growth of 5.42% 8. 华夏核心成长混合A with a net value of 0.8219 and a growth of 5.21% 9. 国投瑞银白银期货(LOF)A with a net value of 2.0483 and a growth of 5.21% 10. 华夏核心成长混合C with a net value of 0.7987 and a growth of 5.20% [2][4]. Bottom 10 Funds by Net Value Growth - The bottom-performing funds as of the 26th include: 1. 国融融盛龙头严选混合C with a net value of 1.9017 and a decline of 2.77% 2. 国融融盛龙头严选混合A with a net value of 1.8572 and a decline of 2.76% 3. 富国新活力灵活配置混合C with a net value of 3.4224 and a decline of 2.48% 4. 富国新活力灵活配置混合A with a net value of 3.5247 and a decline of 2.48% 5. 富国核心优势混合发起式C with a net value of 1.8437 and a decline of 2.44% 6. 富国核心优势混合发起式A with a net value of 1.8673 and a decline of 2.43% 7. 信澳业绩驱动混合A with a net value of 1.7859 and a decline of 2.38% 8. 中海积极增利混合 with a net value of 2.2580 and a decline of 2.38% 9. 信澳业绩驱动混合C with a net value of 1.7503 and a decline of 2.38% 10. 浙商汇金量化精选混合C with a net value of 1.7099 and a decline of 2.38% [3][4]. Market Analysis - The Shanghai Composite Index experienced fluctuations, closing slightly higher after two dips, with a total trading volume of 2.18 trillion. The number of advancing stocks was 1,866, while declining stocks numbered 3,414, with a ratio of 92:3 for stocks hitting the daily limit [6]. - Leading sectors included non-ferrous metals, public transportation, and chemical fibers, each with gains exceeding 2%. Notable concepts that performed well were Hainan, lithium mining, cobalt, nickel, and scarce resources [6].

Core Insights - The article provides an overview of the performance of various funds, highlighting the top and bottom performers in terms of net asset value updates as of October 29, 2025 [3][4]. Fund Performance Summary - The top 10 funds with the highest net value growth include: 1. 永赢新兴产业智选混合发起A with a net value of 1.0001, up from 0.9028 [3] 2. 永赢新兴产业智选混合发起C with a net value of 0.9993, up from 0.9021 [3] 3. 汇添富北交所创新精选两年定开混合A with a net value of 2.1742, up from 2.0057 [3] 4. 汇添富北交所创新精选两年定开混合C with a net value of 2.1390, up from 1.9733 [3] 5. 景顺长城北交所精选两年定开混合C with a net value of 2.0755, up from 1.9175 [3] 6. 景顺长城北交所精选两年定开混合A with a net value of 2.1097, up from 1.9491 [3] 7. 鹏扬北证50成份指数A with a net value of 1.5445, up from 1.4297 [3] 8. 鹏扬北证50成份指数C with a net value of 1.5290, up from 1.4154 [3] 9. 天弘北证50成份指数发起C with a net value of 1.3287, up from 1.2300 [3] 10. 天弘北证50成份指数发起A with a net value of 1.3314, up from 1.2325 [3] - The bottom 10 funds with the lowest net value growth include: 1. 南方中证银行ETF with a net value of 1.6412, down from 1.6760 [4] 2. 富国中证800银行ETF with a net value of 1.3213, down from 1.3493 [4] 3. 天弘中证银行ETF with a net value of 1.4558, down from 1.4866 [4] 4. 华夏中证银行ETF with a net value of 1.7225, down from 1.7588 [4] 5. 中证银行ETF with a net value of 1.4246, down from 1.4546 [4] 6. 易方达中证银行ETF with a net value of 1.3396, down from 1.3678 [4] 7. 华宝中证银行ETF with a net value of 0.8124, down from 0.8294 [4] 8. 东财中证银行指数E with a net value of 1.3164, down from 1.3439 [4] 9. 东财中证银行指数A with a net value of 1.3217, down from 1.3493 [4] 10. 华安中证银行ETF with a net value of 1.3816, down from 1.4104 [4] Market Analysis - The Shanghai Composite Index showed a slight upward trend, with a trading volume of 2.29 trillion, and a market breadth of 2672 gainers to 2621 losers [6]. - Leading sectors included electrical equipment and non-ferrous metals, both rising over 4% [6]. - The fund 永赢新兴产业智选混合发起A demonstrated significant net value growth, indicating strong performance in the market [6].

Core Insights - The article provides a ranking of mutual funds based on their net asset value changes, highlighting the top and bottom performers in the market [2][3]. Fund Performance Summary - The top 10 mutual funds with the highest net value growth as of September 30, 2025, include: 1. Yongying Pioneer Semiconductor Selected Mixed Fund A: Unit Net Value 1.1956, Cumulative Net Value 1.1956, previous unit net value 1.1101 [2] 2. Yongying Pioneer Semiconductor Selected Mixed Fund C: Unit Net Value 1.1952, Cumulative Net Value 1.1952, previous unit net value 1.1098 [2] 3. AVIC Vision Leading Mixed Fund A: Unit Net Value 1.5769, Cumulative Net Value 1.6569, previous unit net value 1.4925 [2] 4. AVIC Vision Leading Mixed Fund C: Unit Net Value 1.5659, Cumulative Net Value 1.6459, previous unit net value 1.4821 [2] 5. Huaxia Military Industry Safety Mixed Fund C: Unit Net Value 1.8520, Cumulative Net Value 1.8520, previous unit net value 1.7540 [2] 6. Huaxia Military Industry Safety Mixed Fund A: Unit Net Value 1.8920, Cumulative Net Value 1.8920, previous unit net value 1.7920 [2] 7. Founder Fubon Core Advantage Mixed Fund C: Unit Net Value 1.1395, Cumulative Net Value 1.1395, previous unit net value 1.0822 [2] 8. Founder Fubon Core Advantage Mixed Fund A: Unit Net Value 1.1527, Cumulative Net Value 1.1527, previous unit net value 1.0948 [2] 9. Great Wall Prosperity Growth Mixed Fund C: Unit Net Value 1.3620, Cumulative Net Value 1.3620, previous unit net value 1.2983 [2] 10. Great Wall Prosperity Growth Mixed Fund A: Unit Net Value 1.3788, Cumulative Net Value 1.3788, previous unit net value 1.3144 [2] - The bottom 10 mutual funds with the lowest net value growth include: 1. AVIC Opportunity Leading Mixed Fund C: Unit Net Value 3.0084, previous unit net value 3.0827 [4] 2. AVIC Opportunity Leading Mixed Fund A: Unit Net Value 3.0479, previous unit net value 3.1231 [4] 3. Shanzheng Asset Management Strategy Selected Mixed Fund: Unit Net Value 1.6137, previous unit net value 1.6531 [4] 4. E Fund Rui Xiang Mixed Fund E: Unit Net Value 4.8647, previous unit net value 4.9776 [4] 5. E Fund Rui Xiang Mixed Fund I: Unit Net Value 6.0069, previous unit net value 6.1462 [4] 6. Debon Xin Xing Value Fund A: Unit Net Value 3.3260, previous unit net value 3.4030 [4] 7. Debon Xin Xing Value Fund C: Unit Net Value 3.1973, previous unit net value 3.2713 [4] 8. Guotai Zhongzheng All Index Communication Equipment ETF: Unit Net Value 2.6750, previous unit net value 2.7344 [4] 9. Huatai Bairui Quality Growth Mixed Fund C: Unit Net Value 1.5167, previous unit net value 1.5501 [4] 10. Huatai Bairui Quality Growth Mixed Fund A: Unit Net Value 1.5426, previous unit net value 1.5765 [4] Market Trends - The Shanghai Composite Index opened high and experienced fluctuations, closing with a small gain, while the ChiNext index saw a peak and then returned to flat, with a total trading volume of 2.19 trillion [7]. - Leading sectors included aviation and non-ferrous metals, both rising over 3%, while communication equipment and advertising packaging sectors faced declines [7].

Core Insights - The article provides a ranking of open-end funds based on their net asset value growth as of September 29, 2025, highlighting the top and bottom performers in the market [2][5][7]. Group 1: Top Performing Funds - The top 10 funds with the highest net value growth include: 1. E Fund CSI Hong Kong Securities Investment Theme ETF with a unit net value of 2.3164, up from 2.1379, showing an increase of 0.17 [2]. 2. Tongtai Financial Select Stock A with a unit net value of 1.2474, up from 1.1705, an increase of 0.07 [2]. 3. Tongtai Financial Select Stock C with a unit net value of 1.2281, up from 1.1524, also an increase of 0.07 [2]. 4. Invesco Great Wall Jing Tai Stable Open Bond A with a unit net value of 1.1135, up from 1.0501, an increase of 0.06 [2]. 5. Harvest Clean Energy Stock Initiation A with a unit net value of 1.0851, up from 1.0247, an increase of 0.06 [2]. 6. Harvest Clean Energy Stock Initiation C with a unit net value of 1.0665, up from 1.0072, an increase of 0.05 [2]. 7. Harvest Intelligent Vehicle Stock with a unit net value of 3.1520, up from 2.9820, an increase of 0.17 [2]. 8. Orient New Energy Vehicle Theme Mixed with a unit net value of 3.0037, up from 2.8504, an increase of 0.15 [2]. 9. Orient Regional Development Mixed with a unit net value of 1.5072, up from 1.4304, an increase of 0.07 [2]. 10. Orient Internet Jia Mixed with a unit net value of 1.4300, up from 1.3577, an increase of 0.07 [2]. Group 2: Bottom Performing Funds - The bottom 10 funds with the lowest net value growth include: 1. ICBC聚福混合C with a unit net value of 1.3532, down from 1.3723, a decrease of 0.01 [5]. 2. ICBC聚福混合A with a unit net value of 1.3931, down from 1.4111, a decrease of 0.01 [5]. 3. Shenwan Sixin Consumer Growth Mixed C with a unit net value of 1.3900, down from 1.4070, a decrease of 0.01 [5]. 4. Shenwan Lingxin Consumer Growth Mixed A with a unit net value of 1.4890, down from 1.5060, a decrease of 0.01 [5]. 5. Penghua Consumer Preferred Mixed with a unit net value of 3.2620, down from 3.2990, a decrease of 0.03 [5]. 6. Dachen Health Industry Mixed C with a unit net value of 1.3900, down from 1.4050, a decrease of 0.01 [5]. 7. Dachen Health Industry Mixed A with a unit net value of 1.4160, down from 1.4310, a decrease of 0.01 [5]. 8. Nord New Prosperity with a unit net value of 1.2933, down from 1.3063, a decrease of 0.01 [5]. 9. Guotai Zhongzheng Coal ETF with a unit net value of 1.0712, down from 1.0816, a decrease of 0.01 [5]. 10. Guolian Coal A with a unit net value of 1.7510, down from 1.7680, a decrease of 0.01 [5]. Group 3: Market Overview - The Shanghai Composite Index showed a slight rebound, while the ChiNext Index opened higher, with a total trading volume of 2.17 trillion. The number of advancing stocks was 3,576 compared to 1,568 declining stocks [7]. - Leading sectors included securities and non-ferrous metals, both rising over 3%, while the coal sector lagged behind [7].

Core Insights - The article provides an overview of the performance of various mutual funds, highlighting the top and bottom performers based on their net asset values as of September 1, 2025 [3][4]. Fund Performance Summary - The top 10 funds with the highest net value growth include: 1. 中航优选领航混合发起A with a net value of 2.1803, up from 2.0199, a change of 0.16 [3]. 2. 中航优选领航混合发起C with a net value of 2.1711, up from 2.0116, a change of 0.15 [3]. 3. 华富永鑫灵活配置混合C with a net value of 1.4795, up from 1.3748, a change of 0.10 [3]. 4. 华富永鑫灵活配置混合A with a net value of 1.5226, up from 1.4149, a change of 0.10 [3]. 5. 前海开源金银珠宝混合A with a net value of 2.1430, up from 1.9920, a change of 0.15 [3]. 6. 前海开源全银珠宝混合C with a net value of 2.0940, up from 1.9480, a change of 0.14 [3]. 7. 银华同力精选混合 with a net value of 1.1191, up from 1.0466, a change of 0.07 [3]. 8. 银华内需精选混合(LOF) with a net value of 3.5120, up from 3.1230, a change of 0.22 [3]. 9. 黄金股ETF with a net value of 1.7609, up from 1.6473, a change of 0.11 [3]. 10. 国泰中证沪深港黄金产业股票ETF with a net value of 1.3927, up from 1.3039, a change of 0.08 [3]. - The bottom 10 funds with the lowest net value growth include: 1. 鹏华沪深300指数增强I with a net value of 1.1466, down from 1.1787, a change of -0.03 [4]. 2. 东吴安盈量化混合C with a net value of 1.1621, down from 1.1903, a change of -0.02 [4]. 3. 方正富邦中证保险C with a net value of 1.1330, down from 1.1550, a change of -0.02 [4]. 4. 方正富邦中证保险A with a net value of 1.1430, down from 1.1650, a change of -0.02 [4]. 5. 中欧消费精选混合发起C with a net value of 1.0928, down from 1.1126, a change of -0.01 [4]. 6. 中欧消费精选混合发起A with a net value of 1.0938, down from 1.1135, a change of -0.01 [4]. 7. 东方阿尔法瑞丰混合发起C with a net value of 1.1295, down from 1.1482, a change of -0.01 [4]. 8. 东方阿尔法瑞丰混合发起A with a net value of 1.1389, down from 1.1577, a change of -0.01 [4]. 9. 宝盈优质成长混合C with a net value of 0.5134, down from 0.5217, a change of -0.00 [4]. 10. 宝盈优质成长混合A with a net value of 0.5235, down from 0.5319, a change of -0.00 [4]. Market Analysis - The overall market showed a mixed performance with the Shanghai Composite Index opening high but closing lower, while the ChiNext Index experienced a similar pattern [7]. - The trading volume reached 2.77 trillion, with a ratio of advancing to declining stocks at 3208:2086 [7]. - Leading sectors included communication equipment, diversified industries, and non-ferrous metals, all showing gains exceeding 3% [7]. - The gold concept and scarce resources also performed well, with gains over 3% [7]. - The insurance sector was the worst performer, declining over 2% [7].

Market Overview - A-shares rose across the board in the afternoon session, with the Shanghai Composite Index up nearly 1% at one point, closing at 3381.58 points, a gain of 0.65% [1] - The Shenzhen Component Index increased by 0.43% to 10048.39 points, while the ChiNext Index rose by 0.39% to 2017.63 points [1] - The Northbound trading saw a strong performance with the Northbound 50 Index up 1.54%, and total trading volume across the three exchanges reached 1.1471 trillion yuan, an increase of approximately 55 billion yuan from the previous day [1] Sector Performance Oil Sector - The oil sector continued its strong performance, with stocks like Maohua Shihua hitting the limit up for three consecutive days, and Zhun Oil shares achieving six limit-ups in seven days [3][4] - Other notable performers included Taishan Petroleum and Beiken Energy, both of which saw gains exceeding 7% [3] - The geopolitical situation, particularly the U.S. attacks on Iranian nuclear facilities, is expected to drive oil prices significantly higher, with Brent crude futures projected to break $80 per barrel [5] Shipping Sector - The shipping sector also experienced a surge, with stocks like Ningbo Shipping and Baoshui Technology hitting the limit up, and several others including Lianyungang and Ningbo Ocean also reaching their daily limits [5] - The strategic importance of the Strait of Hormuz, through which a significant portion of global oil trade passes, has heightened concerns about potential disruptions due to geopolitical tensions [6] Cross-Border Payment Sector - The cross-border payment sector saw strong gains, with stocks like Sifang Precision and Ubo Xun hitting the limit up, and Lakala rising by approximately 13% [8][9] - The launch of the cross-border payment system between mainland China and Hong Kong is expected to enhance payment efficiency and service levels, with significant growth projected in the global cross-border payment market [10] Cobalt Sector - The cobalt sector showed significant activity, with stocks like Tengyuan Cobalt rising over 15%, and others like China Ruilin and Hanrui Cobalt also seeing substantial gains [12] - The extension of the cobalt export ban by the Democratic Republic of the Congo is anticipated to create supply shortages and drive prices higher, with expectations of a second wave of price increases in the cobalt market [14]

Market Overview - The stock indices in both markets rose, driven by the performance of brokerage and banking sectors, with the Shanghai Composite Index up by 0.65% to 3381.58 points, and the Shenzhen Component Index up by 0.43% to 10048.39 points [1] - The total trading volume in the Shanghai and Shenzhen markets reached 11,471 billion yuan, an increase of approximately 550 billion yuan compared to the previous day [1] Oil Sector - The oil sector showed strong performance, with stocks like Maohua Shihua hitting the limit up for three consecutive days, and Zhun Oil shares achieving six limit ups in seven days [3][4] - Other notable performers included Taishan Petroleum and Beiken Energy, both of which saw significant gains [3] - The geopolitical situation, particularly the U.S. attacks on Iranian nuclear facilities, is expected to lead to a substantial increase in oil prices, with Brent crude futures potentially breaking through $80 per barrel [5][7] Shipping Sector - The shipping sector also experienced a surge, with stocks like Ningbo Shipping and Baoshui Technology hitting the limit up, and other companies like Lianyungang and Nanjing Port also achieving limit ups [6] - The potential closure of the Strait of Hormuz by Iran could have a destructive impact on global oil trade, as approximately one-third of the world's oil trade passes through this route [7] Cross-Border Payment Sector - The cross-border payment sector saw strong performance, with stocks like Sifang Precision and Youbo Information hitting the limit up [9][10] - The launch of the cross-border payment system between mainland China and Hong Kong is expected to enhance payment efficiency and service levels, with global cross-border payment transactions projected to grow significantly in the coming years [11] Cobalt Sector - The cobalt sector was active, with companies like Tengyuan Cobalt and China Ruilin seeing significant price increases [13][14] - The extension of the cobalt export ban by the Democratic Republic of the Congo is anticipated to lead to a supply shortage, potentially driving cobalt prices higher [15]