Market Performance - As of July 28, 2025, the CSI 300 Index decreased by 0.11%, with mixed performance among constituent stocks [1] - Leading stocks included Hengrui Medicine, which rose by 7.34%, and Top Group, which increased by 2.65% [1] ETF Activity - The CSI 300 ETF recorded a trading volume of 126 million yuan on the day, with an average daily trading volume of 1.125 billion yuan over the past year [3] - The ETF's scale increased by 8.432 billion yuan this month, with a significant growth in shares by 7.601 billion [3] - The ETF experienced continuous net inflows over the past three days, totaling 86.022 million yuan, with a peak single-day net inflow of 58.667 million yuan [3] - Leveraged funds are actively participating, with the latest margin buying amounting to 9.6366 million yuan and a margin balance of 1.009 billion yuan [3] Performance Metrics - The CSI 300 ETF's net value increased by 9.50% over the past six months, with a maximum single-month return of 25.64% since inception [3] - The longest consecutive monthly gain was six months, with a maximum increase of 18.39%, and an average monthly return of 4.63% [3] - Over the past three months, the ETF outperformed the benchmark with an annualized return of 9.16% [3] Market Outlook - Guotai Junan Securities indicated that the downward trend in risk-free interest rates in 2025 is a key driver for the rise of the Chinese stock market, positively impacting valuations across blue-chip and growth stocks [4] - Galaxy Securities noted the rapid rotation in the market and increasing attention on undervalued sectors, suggesting that investments with a safety margin are currently more appealing [4] Top Holdings - As of June 30, 2025, the top ten weighted stocks in the CSI 300 Index accounted for 22.76%, including Kweichow Moutai, CATL, and Ping An Insurance [5] - The top ten stocks by weight are as follows: Kweichow Moutai (-0.91%, 4.19%), CATL (1.02%, 3.15%), Ping An Insurance (1.33%, 2.83%), and others [7] Investment Opportunities - Investors without stock accounts can access core A-share assets through the CSI 300 ETF linked fund (160724) for low-position investments [7]

Core Viewpoint - The A-share market has fallen below 3600 points again, with a noticeable weakness in the Yaxia hydropower concept, while the semiconductor sector has risen against the trend, indicating a market divergence that was anticipated [1][2] Market Analysis - The sentiment indicator for market judgment reached 81%, indicating an overly consistent emotional state, with only 2533 stocks rising, accounting for 47%, suggesting a basis for continued divergence [1] - The Yaxia hydropower concept has shown significant adjustment, and caution is advised regarding selling pressure during this divergence phase [1][2] - The Sci-Tech 50 index and semiconductor sector have seen notable gains, which are viewed as a catch-up structure since their previous performance was relatively weak compared to other indices [1] - The Shanghai Composite Index had a technical demand confirmation at 3613 points, but a decrease in trading volume was observed, with today's volume being insufficient compared to the 5-day average, weakening the support from the 5-day moving average [1][2] Sector Performance - The engineering machinery, construction, liquor, and building materials sectors experienced the largest declines, with the latter three being part of the Yaxia hydropower concept [2] - The semiconductor, software services, and media entertainment sectors led the gains, with the semiconductor sector showing acceleration as other indices rose [2] - The Sci-Tech 50 index remains distinct as its volume is still above the 5-day average, but a decline in volume below this average would confirm divergence and potential pullback [2] Investment Strategy - Caution is advised for investors, with a recommendation to wait for indicator recovery before making further investment decisions [2]

富时中国A50指数连续 U.UU(U.UU%) -0.10(-1.21%) +0.07(+0.62%) 光大银行 2410.69亿市值 7.16亿成交额 4.08 -0.05(-1.21%) 得經 中国平安 中国太保 中国人保 0 3745.77亿市值 3606.67亿市值 10576.50亿市值 19.62亿成交额 7.89亿成交额 29.59亿成交额 58.08 37.49 8.47 +0.10(+0.27%) -0.56(-0.95%) +0.04(+0.47%) 酿酒行业 贵州茅台 山西汾酒 五粮液 18277.68亿市值 2264.01亿市值 4795.34亿市值 61.40亿成交额 16.09亿成交额 22.85亿成交额 185.58 123.54 1455.00 -36.50(-2.45%) -4.88(-2.56%) -2.01(-1.60%) 半导体 北方华创 寒武纪-U 海光信息 HYGON 2467.60亿市值 2816.75亿市值 3288.71亿市值 50.00亿成交额 21.05亿成交额 81.33亿成交额 673.30 341.96 141.49 +3.31(+0.98%) +4 ...

金十图示：2025年07月25日（周五）富时中国A50指数成分股午盘收盘行情一览：盘面整体跌多涨少，酿酒、保险、煤炭等板块 多数回调 -0.07(-0.85%) +0.01(+0.18%) +0.12(+1.06%) 光大银行 2428.42亿市值 3.49亿成交额 4.11 -0.02(-0.48%) 保险 中国太保 中国平安 中国人保 明 3732.50亿市值 3585.50亿市值 10572.86亿市值 16.43亿成交额 4.60亿成交额 10.67亿成交额 37.27 58.06 8.44 -0.12(-0.32%) -0.58(-0.99%) +0.01(+0.12%) 酿酒行业 贵州茅台 山西汾酒 五粮液 18369.51亿市值 2278.16亿市值 4812.03亿市值 35.06亿成交额 8.13亿成交额 12.71亿成交额 1462.31 186.74 123.97 -29.19(-1.96%) -3.72(-1.95%) -1.58(-1.26%) 半导体 北方华创 寒武纪-U 海光信息 HYGON 2413.33亿市值 2530.35亿市值 3168.31亿市值 10.53亿成交额 1 ...

华见早安之声 请各位听众升级为见闻最新版APP，以便成功收听以下音频。 市场概述 美国失业金数据令美联储降息预期减弱，2年期收益率盘中涨5个基点。美元涨0.3%。比特币震荡于11.85万美元附近。 黄金跌0.55%。雪佛龙或恢复在委内瑞拉开采石油，原油一度跳水、较日高跌约1.5%，随后反弹，美油收涨超1%。内盘期货夜市多数收涨，焦煤夜盘收涨 5.7%，铁矿石跌超1.3%。 亚洲时段，沪指时隔三年半首次收于3600点上方，恒指五连阳，海南自贸区、稀有金属集体大涨，焦煤涨停，国债下跌。 要闻 中国强力"反内卷"！时隔27年，价格法重新修订。 特朗普的"关税样板"已经明牌了：投资换15%关税！美日协议详细版：日本5500亿美元投资美国，80亿美元采购美国农产品。 美联储"装修门"升级，特朗普首次"上门"施压降息，但解雇鲍威尔警报暂停，贝森特指有其他风险。 欧洲央行八连降后收手，维持利率不变，静待美方关税政策明朗化，9月降息预期骤降；拉加德警告：若欧美贸易摩擦升级，将对通胀施加下行 压力。 美国7月Markit制造业PMI重陷萎缩，但整体商业活动创12月以来最快扩张。美国上周首申人数连续第六周下降，续请失业金人数维持 ...

Group 1 - The strategy for today involves buying technology stocks and small-cap stocks at low prices, particularly those that have not seen significant increases [1] - The market is currently experiencing a sideways trend around 3590 points, with expectations of potential movement towards 3600 points [1] - There is a focus on controlling risk and managing positions during this period of market fluctuation, emphasizing the importance of technical indicators for identifying market tops and bottoms [1] Group 2 - The power sector is showing signs of recovery after a recent decline, with expectations for further investment in this area [2] - There is a noticeable differentiation among major sectors such as insurance, transportation, and technology, with technology stocks expected to lead in terms of profitability [2] - The market is experiencing a "washing" effect, where investors are encouraged to hold onto their positions despite fluctuations, with a forecast for a rebound in small-cap stocks in the coming days [2] Group 3 - The consumer electronics sector is currently facing challenges, with stocks showing mixed performance and a tendency to trade sideways [3] - There is a focus on specific stocks within the PCB sector, which are expected to maintain their positions without breaking down [3] - The market anticipates a balance in the coming days, with small-cap stocks expected to rise as the broader market stabilizes [3]

-0.05(-0.88%) -0.20(-2.37%) -0.17 (-1.48%) XD光大银 2440.23亿市值 8.23亿成交额 4.13 -0.03(-0.72%) 得經 中国太保 中国平安 中国人保 明 3728.08亿市值 10678.48亿市值 3597.05亿市值 17.15亿成交额 41.42亿成交额 8.18亿成交额 37.39 58.64 8.43 +0.24(+0.65%) +0.64(+1.10%) +0.02(+0.24%) 酿酒行业 贵州茅台 五粮液 山西汾酒 18736.19亿市值 2323.54亿市值 4873.36亿市值 12.22亿成交额 19.56亿成交额 57.86亿成交额 125.55 1491.50 190.46 +16.00(+1.08%) +0.75(+0.40%) +0.35(+0.28%) 半导体 北方华创 寒武纪-U 海光信息 HYGON 2443.71亿市值 2511.06亿市值 3177.37亿市值 24.27亿成交额 29.42亿成交额 27.07亿成交额 136.70 338.65 600.23 +7.15(+2.16%) +1.53(+1.1 ...

富时中国A50指数连续 十几码代 长江电力 中国恢电 (发表) 1935.45亿市值 2526,38亿市值 7063.97亿市值 8.73亿成交额 31.31亿成交额 8.87亿成交额 28.87 16.31 9.41 +0.20(+1.24%) -0.31(-1.06%) -0.01(-0.11%) 证券 电池 中信证券 宁德时代 国泰海通 CATL 4453.57亿市值 3571.78亿市值 13074.73亿市值 35.22亿成交额 18.45亿成交额 34.85亿成交额 20.26 30.05 286.77 +0.27(+0.91%) +0.26(+1.30%) -0.25(-0.09%) 消费电子 互联网服务 工业富联 立讯精密 东方财富 Fil 5455.40亿市值 2719.51亿市值 3810.35亿市值 30.07亿成交额 22.61亿成交额 90.97亿成交额 37.50 27.47 24.11 +0.89(+3.35%) -0.46(-1.21%) +0.40(+1.69%) 家电行业 食品饮料 海天味业 格力电器 kk 海尔智家 2672.99亿市值 2310.30亿市值 2577.4 ...

金十图示：2025年07月23日（周三）富时中国A50指数成分股午盘收盘行情一览：盘面大面积飘红，银行、保险板块涨幅居前 光大银行 2522.95亿市值 3.96亿成交额 4.27 +0.03(+0.71%) 保险 中国太保 中国平安 K 中国人保 明 3767.88亿市值 3609.55亿市值 10591.07亿市值 14.73亿成交额 27.14亿成交额 6.97亿成交额 37.52 8.52 58.16 +1.33(+3.68%) +1.46(+2.57%) +0.14(+1.67%) 酿酒行业 贵州茅台 山西汾酒 五粮液 18679.79亿市值 2345.50亿市值 4905.58亿市值 37.61亿成交额 14.02亿成交额 17.14亿成交额 1487.01 192.26 126.38 +22.03(+1.50%) +1.48(+0.78%) +0.85(+0.68%) 米含体 海光信息 北方华创 寒武纪-U HYGON 3153.66亿市值 2411.53亿市值 2500.56亿市值 28.93亿成交额 15.47亿成交额 18.56亿成交额 597.72 135.68 334.19 +12.0 ...

Market Overview - On July 22, A-shares saw collective gains across major indices, with the Shanghai Composite Index rising by 0.62% to close at 3581.86 points, the Shenzhen Component Index increasing by 0.84% to 11099.83 points, and the ChiNext Index up by 0.61% to 2310.86 points [2][3] - The total trading volume in the Shanghai and Shenzhen markets reached 192.86 billion yuan, an increase of 20.15 billion yuan from the previous day, with over 2500 stocks rising and more than 100 stocks hitting the daily limit for the second consecutive day [2] Sector Performance - The sectors that performed well included hydropower, engineering machinery, coal, steel, pork, and liquor, while sectors such as gaming, banking, and PCB concepts saw declines [2] - Specifically, the coal sector experienced a rapid increase in the afternoon, while the banking sector mostly adjusted downwards [2] International Market - In the U.S. stock market on July 22, the Dow Jones Industrial Average rose by 179.37 points (0.4%) to 44502.44 points, while the S&P 500 increased by 4.02 points (0.06%) to 6309.62 points. The Nasdaq Composite Index fell by 81.49 points (0.39%) to 20892.69 points [4][5] - In Europe, the FTSE 100 index rose by 10.82 points (0.12%) to 9023.81 points, while the CAC 40 index in France fell by 53.81 points (0.69%) to 7744.41 points, and the DAX index in Germany decreased by 265.90 points (1.09%) to 24041.90 points [4][5] Commodity Prices - International oil prices fell on July 22, with WTI crude oil dropping by $0.99 to $66.21 per barrel (1.47% decline) and Brent crude oil decreasing by $0.62 to $68.59 per barrel (0.90% decline) [4][5] Regulatory Developments - The "Rural Road Regulations" were published, set to take effect on September 15, 2025, aimed at promoting high-quality development of rural roads and supporting rural revitalization and agricultural modernization [6][7] - The regulations emphasize government-led planning, responsibility for county-level governments, and the need for improved road network quality and safety measures [6][7] Industry Initiatives - Shanghai's "Next-Generation Display Industry High-Quality Development Action Plan (2026-2030)" was issued, aiming to build a comprehensive industry system and enhance competitiveness by 2030 [9] - The plan focuses on developing two major technology routes and addressing four core areas to create a complete and resilient industrial chain [9] Gaming Industry - The National Press and Publication Administration approved seven imported games in July, indicating ongoing regulatory activity in the gaming sector [10] Foreign Exchange Market - The Deputy Director of the State Administration of Foreign Exchange stated that there are no significant expectations for the appreciation or depreciation of the RMB, with the market remaining stable and rational [11] Financial Sector Insights - The People's Bank of China reported a rebound in real estate loan growth, with a total balance of real estate loans reaching 53.33 trillion yuan, a year-on-year increase of 0.4% [13] - The report highlighted an increase in both real estate development loans and personal housing loans, indicating a gradual recovery in the real estate sector [13] Institutional Perspectives - Tianfeng Securities noted a significant pullback in bank stock prices since July 11, but maintains a positive long-term outlook for bank valuations due to expected improvements in net interest margins and non-interest income [14] - CITIC Construction pointed out that China's controllable nuclear fusion industry is advancing rapidly, with ongoing project financing and policy support [15][16] Capital Flow - The coal industry saw a net inflow of 2.588 billion yuan, while the internet services sector experienced a net outflow of 4.759 billion yuan [18] - Major stocks with significant net inflows included Changcheng Military Industry and Guizhou Moutai, while Northern Rare Earth and Wolong Electric Drive faced substantial outflows [19]