今天市场不太需要解释了吧，涨的人头晕目眩，标题里暴涨两个字，应该没用错吧？ 上证指数重新回到3400点以上，还没突破3月中旬的高点，但事实上，由于A股年内创纪录的高分红， 包含了分红的上证收益指数，下图，已经 创下年内新高了 ，这才是更公允的指标。 所以，这的确是一个扬眉吐气的日子，那些平日里天天说A股没有投资价值，港股即将A股化的小黑子，我都不知道今天还能找到什么吐槽的 点。 当然，上证只涨了1%，属于是涨的最差的宽基了，今天最火热的，还是成长板块，而成长板块的大涨，还有两个"副作用"。 而今天大涨的原因，有几个，可以依次盘一盘。 第一，当然是中东局势缓和，伊以停火的消息 ，今天不仅是A股H股大涨，韩国股市也涨近3%，日本、欧洲都涨超1%，美股期货也继续上涨， 虽然下午开始，停火的消息反反复复，但从原油、黄金、风险资产的价格来看，市场还是定价，整体朝缓和的方向发展，只不过涉及的三方，有 些需要面子，有些需要梯子。 第二，外围这边，美国降息的预期在抬升 ，而今天日中，还有国内7月降息的小作文，这两天，美联储的鲍师傅要去国会接受质询，主要课题就 是回答一个问题，为什么不降息？ 而川宝这边，也煽风点火，下图 ，希 ...

| | | 沪深两市近五日主力资金流向情况(亿元) | | | | --- | --- | --- | --- | --- | | 日期 | | 人烧快雄 开盘争流入 | | 尾盘净流入 超大单净买入 | | 2025-6-24 | 63. 31 | -9.16 | 25. 32 | 89. 23 | | 2025-6-23 | 21. 17 | -20. 20 | 24. 08 | 51.96 | | 2025-6-20 | -223.42 | -81.44 | -30. 63 | -98. 58 | | 2025-6-19 | -393.92 | -77.50 | -56. 10 | -195.53 | | 2025-6-18 | -146. 58 | -73.99 | 0. 33 | -57. 46 | 2.沪深300今日主力资金净流入18.85亿元 1.A股市场全天资金净流入63.31亿元 今日A股市场主力资金开盘净流出9.16亿元，尾盘净流入25.32亿元，A股市场全天资金净流入63.31亿元。 沪深300今日主力资金净流入18.85亿元，创业板净流入29.77亿元，科创板净流出12.35亿元。 | ...

| 房地产 | 22.70 | 18.09 | 1.04 | 1.24 | 1.37 | | --- | --- | --- | --- | --- | --- | | 环保 | 15.16 | 13.79 | 1.70 | 1.70 | 0.32 | | 建筑材 | 10.24 | 17.12 | 1.38 | 1.60 | 0.16 | | 料 | | | | | | | 美容护 理 | 3.08 | 5.84 | 2.74 | 1.13 | -0.43 | | 基础化 | 69.81 | 16.26 | 2.61 | 1.54 | -0.93 | | 工 | | | | | | | 煤炭 | 9.90 | -17.04 | 0.76 | -0.22 | -1.02 | | 医药生 | 48.87 | 7.78 | 1.79 | 1.10 | -1.09 | | 物 | | | | | | | 纺织服 | 15.73 | 11.16 | 2.25 | 0.91 | -4.69 | | 饰 | | | | | | | 交通运 | 52.76 | 13.26 | 1.26 | 0.26 | -6.75 | | ...

Group 1 - A-shares experienced a collective rise, with the Shanghai Composite Index closing at 3420.57 points, up 1.15%, and the Shenzhen Component Index rising 1.68% to 10217.63 points [1][5] - The trading volume in the Shanghai and Shenzhen markets reached 14146 billion, a significant increase of 2920 billion compared to the previous day [1] - Key sectors such as electric power equipment, non-bank financials, and retail saw gains exceeding 2%, with solid performance from heavyweight stocks and a notable shift towards growth styles [1][6] Group 2 - *ST Jiuyou's stock plummeted over 80% after being placed in a delisting risk warning, with a market value reduced to 1.2 billion [2][4] - The company reported a negative net asset value at the end of 2023 and received an audit report with no opinion for its 2024 annual report, triggering delisting conditions [4] - Other companies in the delisting process also experienced severe declines, with some dropping over 70% on their first day of delisting [4] Group 3 - The electric power equipment index surged by 2.85%, and non-bank financials rose by 2.68%, indicating a bullish trend in these sectors [6] - The lithium battery sector saw significant gains, with multiple companies announcing advancements in solid-state battery technology and production timelines [6] - The humanoid robot sector also rebounded, with indices related to humanoid robots and associated technologies rising over 4% [6] Group 4 - A focus on high-growth small-cap stocks with significant R&D investment is highlighted, with 36 stocks identified that have over 20% of revenue allocated to R&D and projected net profit growth rates exceeding 40% from 2025 to 2027 [8] - Notable companies include Tai En Kang, which has seen a year-to-date increase of nearly 135%, driven by a strong pipeline of self-developed drugs [8][9] - The average increase for these identified companies is close to 19% year-to-date, outperforming the broader market [8]

Core Viewpoint - The traditional divide between ETFs and actively managed funds is being disrupted by the emergence of enhanced index ETFs, which combine the advantages of both product types [2][23]. Group 1: Enhanced Index ETFs Overview - Enhanced index ETFs track indices but allow fund managers to adjust the composition and weight of the underlying stocks to achieve outperformance [2]. - Since the launch of the first enhanced index ETF in December 2021, the product has rapidly expanded, with 35 such ETFs in the A-share market by May 2025, totaling a scale of 6.72 billion [2]. - In the U.S., actively managed ETFs reached a size of 857.9 billion, accounting for 8.1% of the total ETF market, indicating significant growth potential for enhanced index ETFs [2]. Group 2: Performance of Enhanced Index ETFs - Among 19 enhanced index ETFs analyzed, 16 have generated excess returns, with the 500 Enhanced ETF leading at 6.1% [4]. - The 500 Enhanced ETF (561550.SH) and the China Securities 500 Enhanced ETF (563030.SH) have both achieved over 5% excess returns this year [4][6]. - The top ten holdings of the China Securities 500 Enhanced ETF have an average increase of 8.3%, with notable performers like Chifeng Jilong Gold Mining rising 73% this year [6][7]. Group 3: Market Trends and Future Prospects - The small-cap enhanced index ETFs, such as the China Securities 2000 Enhanced ETF, have shown explosive growth, with a year-to-date increase of over 20% and a 328.7% rise in scale [9]. - The development of enhanced index ETFs is driven by both policy and technological advancements, with new regulations promoting the growth of index-based investments [10]. - Fund companies are increasingly adopting AI-driven models to enhance investment strategies, moving from traditional multi-factor approaches to machine learning [11]. Group 4: Investment Strategies and Considerations - Investors are advised to adopt a core-satellite strategy, using broad-based enhanced index ETFs as the core of their portfolio while allocating to sector-specific or style-specific ETFs for additional exposure [14]. - The enhanced index ETFs focused on technology, such as the Sci-Tech 50 Enhanced ETF, offer significant policy benefits but require careful consideration of industry cycles [15][19]. - The Sci-Tech index has shown high elasticity, with a beta of 1.18 and a cumulative increase of 17.2% since its base date, indicating its potential for capturing innovation opportunities [16][19].

热点事件 6月24日，受伊以"停火"消息提振，A港股强势反弹，上证指数上涨1.15%创近三月新高，创业板指涨 2.30%，大金融领涨，金融科技、无人驾驶、算力、AI应用、消费电子涨幅居前，全A成交额1.45万 亿，近4700股飘红。截止15:05，恒生指数和恒生科技涨幅均超2%。那么今日市场为何情绪高涨？当下 应该如何布局？我们简评如下，供投资者参考。股民福利！点此免费领取新浪财经vip会员>> 市场动态 • 伊以宣布"停火"，全球风险偏好回升。今日伊朗与以色列宣布正式"停火"，结束持续12天的军事冲 突，此举极大缓解了市场对地缘风险升级的担忧，避险情绪退潮，亚太股市普涨，黄金、原油下跌。 • 美联储释放鸽派信号，降息预期或提前。近期特朗普再次喊话鲍威尔降息，同时多位美联储官员表态 偏"鸽"；美联储副主席鲍曼表示"若通胀压力可控，支持7月降息"，理事沃勒也表示赞成7月份考虑降息 的说法，市场降息预期小幅升温（7月概率升至23%，9月达62%）。 • 数据要素政策利好，提振市场情绪。今日"数据要素×"系列发布会上，证监会表示将稳步开展"数据要 素×资本市场"专项试点，覆盖证券、期货及区域股权市场，央行同步表态将 ...

Group 1 - The core viewpoint of the articles highlights the strong performance of Hong Kong dividend stocks, driven by a shift in risk appetite towards defensive asset allocation, with a significant increase in fund inflows and market capitalization of dividend ETFs [1][22][19] - As of June 23, the Hong Kong Dividend Low Volatility ETF (520550) has reached 34 new highs this year, with a year-to-date scale growth of 169%, marking a historical peak [1][11] - The total dividend payout of Hong Kong stocks reached HKD 1.38 trillion in 2024, reflecting a year-on-year growth of over 10%, with 927 companies announcing dividends [2][17] Group 2 - The average dividend yield of Hong Kong stocks is significantly higher than that of A-shares across various sectors, including real estate, telecommunications, public utilities, and finance, making them attractive for investors seeking high-yield opportunities [2][4] - The Hang Seng Hong Kong Stock Connect High Dividend Low Volatility Index has an average dividend yield of 6.47%, with 38% of its constituent stocks yielding over 7% [4][6] - The index's current PE (TTM) is 7 times, and PB is 0.6 times, indicating a high margin of safety compared to similar indices [6][4] Group 3 - There is a strong demand from insurance funds for high-dividend assets in Hong Kong, driven by the positioning of insurance OCI accounts and the domestic asset scarcity [22][23] - The monthly dividend mechanism and T+0 trading characteristics of the Hong Kong Dividend Low Volatility ETF (520550) enhance capital efficiency, while its holding structure provides risk diversification [9][19] - The total scale of Hong Kong dividend ETFs has exceeded HKD 40 billion, with a year-to-date inflow of HKD 10.7 billion, representing a growth of 40% [19][20]

Market Overview - On June 24, the Shanghai Composite Index rose by 1.15%, the Shenzhen Component Index increased by 1.68%, the ChiNext Index climbed by 2.30%, and the CSI 300 Index gained 1.20% [1] - Among the tradable A-shares, 4,771 stocks rose, accounting for 88.25%, while 578 stocks declined [1] Capital Flow - The net inflow of main funds reached 17.211 billion yuan for the day [1] - The ChiNext saw a net inflow of 2.864 billion yuan, while the STAR Market had a net inflow of 513 million yuan [1] - The CSI 300 constituent stocks experienced a net inflow of 5.820 billion yuan [1] Industry Performance - Out of the 29 first-level industries classified by Shenwan, the top-performing sectors were Electric Equipment and Non-Bank Financials, with increases of 2.85% and 2.68%, respectively [1] - The sectors with the largest declines were Oil & Gas and Coal, with decreases of 2.10% and 0.22% [1] Industry Capital Inflows - Non-Bank Financials led the net inflow of main funds, with a total of 4.748 billion yuan and a daily increase of 2.68% [1] - Electric Equipment followed closely with a net inflow of 4.159 billion yuan and a daily increase of 2.85% [1] Industry Capital Outflows - The Defense and Military Industry had the largest net outflow, totaling 2.370 billion yuan, despite a slight increase of 0.13% [1] - The Oil & Gas sector experienced a net outflow of 1.278 billion yuan, with a decline of 2.10% [1] - Other sectors with significant net outflows included Banking, Transportation, and Textile & Apparel [1] Individual Stock Performance - A total of 2,670 stocks saw net inflows, with 940 stocks having inflows exceeding 10 million yuan [2] - The stock with the highest net inflow was Dongfang Caifu, which rose by 4.20% with a net inflow of 1.306 billion yuan [2] - Other notable stocks with significant inflows included Dongxin Peace and Guoxuan High-Tech, with net inflows of 684 million yuan and 599 million yuan, respectively [2] - Conversely, 58 stocks experienced net outflows exceeding 100 million yuan, with Sifang Jingchuang, Zhongji Xuchuang, and China Merchants Nan Oil leading the outflows [2]

沪指6月24日上涨1.15%，申万所属行业中，今日上涨的有29个，涨幅居前的行业为电力设备、非银金 融，涨幅分别为2.85%、2.68%。非银金融行业位居今日涨幅榜第二。跌幅居前的行业为石油石化、煤 炭，跌幅分别为2.10%、0.22%。 | 代码 | 简称 | 今日涨跌幅（%） | 今日换手率（%） | 主力资金流量（万元） | | --- | --- | --- | --- | --- | | 300059 | 东方财富 | 4.20 | 4.55 | 130625.94 | | 600095 | 湘财股份 | 10.05 | 7.77 | 50241.67 | | 002670 | 国盛金控 | 10.03 | 5.48 | 38939.96 | | 600030 | 中信证券 | 2.59 | 1.12 | 32043.50 | | 601318 | 中国平安 | 3.07 | 0.97 | 31554.65 | | 603300 | 海南华铁 | 4.54 | 12.37 | 22782.36 | | 601211 | 国泰海通 | 0.87 | 0.61 | 20810.31 | | 601162 ...

Market Overview - The three major indices in the A-share market rose over 1%, with the Shanghai Composite Index surpassing 3400 points and the ChiNext Index increasing by over 2% [1][3] - The trading volume in the A-share market exceeded 1.4 trillion yuan, indicating a significant increase in market activity [1][3] Geopolitical Impact - The announcement of a ceasefire between Iran and Israel has reduced expectations for further escalation of conflict, leading to an increase in global risk appetite [1][3] - The upcoming 80th anniversary military parade in China on September 3 is expected to showcase domestically produced military equipment, highlighting advancements in national defense and technology autonomy [2][3] Economic Indicators - China's economic growth remains stable, with strong consumer growth despite a slowdown in investment and industrial production [1][2] - The market is expected to experience fluctuations, with a preference for technology and dividend stocks in investment strategies [1][3] Market Performance - On June 24, the A-share market saw significant gains, with the Shanghai Composite Index closing at 3420.57 points, up 1.15%, and the ChiNext Index closing at 2064.13 points, up 2.30% [4] - Among the sectors, power equipment, non-bank financials, and retail saw the highest gains, while oil and coal sectors experienced declines [4] Fund Flow - The market turnover reached 14,483.99 billion yuan, showing an increase from the previous trading day [5] - The margin trading balance reported at 18,169.01 billion yuan, also reflecting an upward trend [5]