Core Viewpoint - Despite market fluctuations, broad-based ETFs have become a "safe haven" for funds and a tool for positioning [1][3] Fund Flows - This week, the ETF market saw a significant net inflow of 87.09 billion yuan, with broad-based ETFs receiving a net inflow of 47.45 billion yuan, cross-border ETFs gaining 13.55 billion yuan, and bond ETFs attracting 19.98 billion yuan [1][3] Market Performance - The three major A-share indices showed mixed performance, with the Shanghai Composite Index rising by 0.03%, while the Shenzhen Component Index fell by 0.89% and the ChiNext Index dropped by 2.26% [1] ETF Performance - Satellite, general aviation, and aerospace-related ETFs performed strongly this week, with the E Fund Satellite ETF leading with a 7.04% increase. Other notable performers included tourism and chemical ETFs, while chip and semiconductor ETFs experienced the largest declines [1][2] Upcoming ETFs - Four new ETFs are set to be issued next week, including a shipbuilding ETF and a photovoltaic ETF, with subscription periods starting from January 5 and January 12, 2026 [4][5]

Market Overview - The market experienced rapid rotation of hotspots in the first two trading days after the holiday, with a noticeable pullback in growth style and a counter-trend rise in value style. The Wind All A Index fell by 0.36%, while the Shanghai 50, CSI 300, and CSI 1000 indices dropped approximately 0.47%, 0.51%, and 0.54% respectively. The National Value Index increased by about 1.52%, whereas the National Growth Index decreased by around 1.41%. The ChiNext Index and the Sci-Tech 50 fell by approximately 3.85% and 2.85% respectively [1]. Fund Flows - Over the two trading days during the National Day holiday, more than 40 billion yuan of net inflow was recorded in the ETF market, with stock ETFs seeing a net inflow of 40.6 billion yuan and cross-border stock ETFs a net inflow of 2.48 billion yuan. Specific indices such as the Sci-Tech 50, Sci-Tech Chips, CS Battery, Securities Companies, and New Energy Batteries saw net inflows of 5.195 billion yuan, 4.173 billion yuan, 3.597 billion yuan, 3.410 billion yuan, and 3.052 billion yuan respectively. Conversely, the CSI A500, CSI 1000, and other indices experienced net outflows of -6.424 billion yuan, -1.113 billion yuan, and -1.006 billion yuan respectively [2][4]. ETF Performance - From September 29 to the previous Friday, the equity market showed a divergence in performance, with small-cap value styles outperforming. The average return of actively managed equity funds was 1.08%, while short-term bond funds and medium to long-term bond funds had average returns of 0.09% and 0.10% respectively. The market for convertible bonds also showed positive returns [12]. Notable ETF Inflows and Outflows - The top ETFs with significant net inflows included the Sci-Tech Chip ETF (3.061 billion yuan), Sci-Tech 50 ETF (2.766 billion yuan), and CSI 300 ETF (2.763 billion yuan). In contrast, the A500 ETFs from various fund companies experienced notable net outflows, with the A500 ETF from Huatai-PineBridge seeing a net outflow of -2.173 billion yuan [6][10]. International Developments - Luxembourg's sovereign wealth fund has invested 1% of its assets into a Bitcoin ETF, marking it as the first national fund in the Eurozone to do so. The fund's total assets are approximately 730 million USD, primarily invested in high-quality bonds [20]. - JPMorgan estimates that the Solana ETF could attract around 1.5 billion USD in its first year, which is about one-seventh of the expected inflow for Ethereum ETFs. Additionally, BlackRock's Bitcoin ETF has surpassed 800,000 Bitcoins in assets under management, valued at around 100 billion USD [20].

Market Overview - The market opened lower yesterday but rebounded slightly, with the three major indices showing small gains [1] - Sectors that performed well included military industry, precious metals, humanoid robots, and commercial aerospace, while sectors that declined included insurance, film, photovoltaics, and snacks [1] ETF Market Activity - On August 4, significant inflows were observed in the non-monetary ETF market, with the Huatai-PB Hang Seng Technology ETF seeing an increase of 899 million shares and a net inflow of 650 million yuan [1] - Other notable ETFs included the Guotai CSI All-Share Securities Company ETF, which saw an increase of 456 million shares and a net inflow of 542 million yuan, and the Fortune CSI Hong Kong Stock Connect Internet ETF, which had an increase of 566 million shares and a net inflow of 521 million yuan [1][2] Top Performing ETFs - As of August 4, the top 20 ETFs by net inflow for the month included the Huatai-PB Hang Seng Technology ETF with a net inflow of 1.333 billion yuan and a total scale of 30.962 billion yuan [3] - Other top ETFs included the Bosera CSI Convertible Bonds and Exchangeable Bonds ETF with a net inflow of 937 million yuan and the Huaxia Shanghai 50 ETF with a net inflow of 916 million yuan [3] Overall ETF Market Statistics - The total number of ETF shares in the market reached 27,722.39 billion shares, with a total scale of 46,024.92 billion yuan as of August 4 [3] - The financial sector saw the largest increase in shares, with 24 funds tracking this theme, while the securities company index saw a significant increase of 32.86% in shares [3]