Group 1 - The overall tariff issue is expected to gradually ease, although some disturbances may occur during the process. The uncertainty in the global political and economic landscape is likely to remain high, leading to continued short-term market volatility. Current strategies such as dollar-cost averaging and grid trading can be considered for investing in broad-based ETFs like the CSI A500 ETF (159338) and the SSE Composite Index ETF (510760) to cope with market fluctuations [1] - The global semiconductor industry shows significant signs of recovery, driven by a new round of upgrades in smart terminal products. The growth of companies in semiconductor equipment and design relies on technological breakthroughs and market expansion, particularly in the context of ongoing AI computing power development and domestic substitution. This sector may exhibit stronger resilience, with potential investment opportunities in semiconductor equipment ETFs (159516), chip ETFs (512760), integrated circuit ETFs (159546), and the Kexin chip ETF (589100) [1] Group 2 - The Hong Kong Special Administrative Region's government reported a 3.1% year-on-year GDP growth and a 2% quarter-on-quarter growth in the first quarter, both exceeding expectations. With the diminishing marginal impact of U.S. tariff policies and supportive domestic policies, the economy is expected to maintain resilience, and the profit growth of Hong Kong stocks is likely to remain high. Investors may consider Hong Kong technology ETFs (513020), Hong Kong state-owned enterprise ETFs (159519), and dividend Hong Kong stock ETFs (159331) [2] - In the context of market fluctuations and declining risk-free interest rates, dividend-paying central state-owned enterprise assets continue to hold significant allocation value. Interested investors can look into dividend state-owned enterprise ETFs (510720) and cash flow ETFs (159399) as defensive assets [2]

Group 1 - The core viewpoint highlights the recent performance of the STAR Market Composite Index and its constituent stocks, with significant gains observed in companies like Jingjin Electric and China Electric Research [3] - The STAR Market ETF managed by Huaxia has seen a 0.19% increase, with a trading volume of 1.23 billion yuan and a turnover rate of 3.34% [3] - The ETF has achieved a new high in scale, reaching 3.693 billion yuan, ranking first among comparable funds [4] Group 2 - Recent advancements in AI products by major domestic companies include the launch of travel AI by Fliggy, an AI collaboration platform by ByteDance, and a general-purpose super-intelligent system by Baidu [3] - According to Industrial Securities, the continuous iteration of large models is expected to accelerate their application across various scenarios, leading to the emergence of high-value AI products [3] - The STAR Market ETF has experienced continuous net inflows over the past 13 days, totaling 2.908 billion yuan [4]

Group 1 - The domestic stock indices showed mixed performance last week, with the CSI 300, SSE 50, and SSE Composite Index changing by 0.38%, -0.33%, and 0.56% respectively, while the CSI 500, CSI 1000, and ChiNext Index increased by 1.20%, 1.85%, and 1.74% respectively [2][9] - The style indices also exhibited mixed results, with financial, cyclical, consumer, growth, and stability style indices changing by 0.21%, 2.44%, 0.24%, 1.41%, and 0.73% respectively [2][9] - The trading volume of comprehensive ETFs was 52.82 billion yuan, a decrease of 48.68 billion yuan from the previous week, with large-cap style ETFs accounting for 24.49 billion yuan and small-cap style ETFs for 28.62 billion yuan [2][28] Group 2 - Among the 32 thematic ETFs, the average weekly change was 0.56%, with large-cap style ETFs averaging 0.21% and small-cap style ETFs averaging 0.83% [3][29] - The top three performing comprehensive ETFs were the ChiNext 50, ChiNext, and CSI 1000 ETFs, with changes of 2.77%, 2.24%, and 1.89% respectively, while the bottom three were the SSE 50 ETF, CSI 300 ETF, and another CSI 300 ETF, with changes of -0.37%, 0.23%, and 0.28% respectively [4][34] - In terms of fund flows, small-cap ETFs like the CSI 1000 saw continued inflows, while large-cap ETFs such as the SSE 50 and CSI 300 experienced outflows [4][34] Group 3 - The bond market saw the Shanghai Stock Exchange convertible bonds increase by 0.85%, while the pure bond index rose across the board with changes of 0.01%, 0.06%, and 0.03% for government bonds, corporate bonds, and local government bonds respectively [17][19] - The commodity market experienced an overall increase, with CRB metal, poultry, and industrial spot prices rising by 2.69%, 1.97%, and 1.92% respectively [20][21] - The overseas ETF market showed positive performance with the NASDAQ ETF, H-shares ETF, and Hang Seng ETF increasing by 4.31%, 3.09%, and 3.23% respectively [43]

Core Insights - The Shanghai Stock Exchange Science and Technology Innovation Board Composite Index (000680) has shown a slight increase of 0.08% as of April 28, 2025, with notable gains in constituent stocks such as Deep Science and Technology (688328) up by 16.51% and Link Measurement Technology (688113) up by 8.90% [3] Market Performance - The Huaxia Science and Technology Innovation Index ETF (589000) experienced a trading volume of 61.31 million yuan with a turnover rate of 1.83% [3] - The ETF's average daily trading volume over the past week reached 214 million yuan, ranking it first among comparable funds [3] - The latest scale of the Huaxia ETF reached 3.372 billion yuan, marking a new high since its inception and placing it in the top 1/12 of comparable funds [3] - The ETF's share count has also reached 3.640 billion shares, another record high since inception, maintaining its position in the top 1/12 of comparable funds [3] Fund Inflows - The Huaxia ETF has seen continuous net inflows over the past 12 days, with a peak single-day net inflow of 1.361 billion yuan, totaling 2.579 billion yuan in net inflows [3] Policy Insights - The Central Political Bureau meeting on April 25, 2025, discussed the current economic situation and proposed new structural monetary policy tools to support technological innovation, expand consumption, and stabilize foreign trade [3] - According to Zhongyin International, the market may experience a temporary slowdown in upward momentum following the meeting, but the downside risks remain manageable [3] - The current low valuation levels and favorable Q1 fundamental data are expected to support the market against significant downward risks, although future trends will depend on clearer policy releases or fundamental recovery expectations [3] Investment Strategy - The current investment focus is on domestic demand and self-sufficiency, which are identified as the two main lines of allocation [3] - Once the uncertainty surrounding tariffs stabilizes, profitability factors are expected to regain dominance in the market, potentially leading to a return to growth styles, with the AI industry chain likely becoming a focal point again [3]

恒生医疗ETF(159506)跌超3%，成交额635.99万元，较昨日此时放量149.51%，近1月份额增加21.59%， 增加3.47亿份，该基金支持T+0交易。 无需港股通，A股账户就能T+0买港股>> ...

Core Viewpoint - The article discusses the emerging opportunities in the New Emerging Asia Select 50 Index, which has low correlation with major global indices, making it a viable option for global asset allocation amidst ongoing trade tensions and tariff uncertainties [1][4]. Group 1: Index Performance and Correlation - The New Emerging Asia Select 50 Index has low correlation coefficients with major indices: Hang Seng Index (0.19), Hang Seng Tech Index (0.13), Nasdaq 100 (0.23), Dow Jones Industrial Average (0.18), CSI 300 (-0.02), and CSI 1000 (0.00) [2]. - The index focuses on emerging markets such as India (53%), Indonesia (19%), Malaysia (15%), and Thailand (13%), indicating a diversified approach to investment [2]. Group 2: Investment Opportunities - Recent policy changes in India, including a $230 billion reduction in import tariffs, have attracted foreign investment, resulting in a net inflow of $32.3 billion in one week [3]. - Indonesia's central bank intervention has led to an 8% recovery in the rupiah, benefiting from domestic demand expansion and avoiding direct impacts from the US-China trade tensions [3]. - The New Emerging Asia ETF (SH520580) tracks the index and has shown independent performance relative to A-shares and US stocks, with a 0.41% increase and over 22 million yuan in trading volume observed [2][3]. Group 3: Strategic Asset Allocation - The New Emerging Asia ETF focuses on a "defensive-offensive triangle" of financial, technology, and energy sectors, featuring stable dividend-paying banks and a 25.8% allocation to technology and energy [3]. - Historical data indicates that global asset allocation strategies from 2015 to 2025 have significantly lower annualized volatility compared to single-market investments in A-shares or US stocks [3]. - The ETF's T+0 mechanism and high turnover rate provide liquidity for short-term traders, making it an attractive tool for those looking to capitalize on market fluctuations before tariff policies are implemented [4].

截至2025年4月24日 14:09，上证科创板综合指数(000680)下跌0.93%。成分股方面涨跌互现，电气风电(688660)领涨13.22%，鼎阳科技(688112)上涨8.74%， 中研股份(688716)上涨7.57%；华大智造(688114)领跌8.03%，燕麦科技(688312)下跌7.68%，景业智能(688290)下跌6.87%。科创综指ETF华夏(589000)下跌 1.07%，最新报价0.93元。流动性方面，科创综指ETF华夏盘中换手8.34%，成交2.33亿元。 科创综指ETF华夏最新规模达28.16亿元，最新份额达30.08亿份，创成立以来新高。从资金净流入方面来看，科创综指ETF华夏近10天获得连续资金净流 入，合计"吸金"19.92亿元。 继北京亦庄人形机器人半程马拉松之后，全国首届具身智能机器人运动会于4月24日至26日在无锡市举行。 万联证券指出，马拉松比赛展示了人形机器人在运动控制等领域取得阶段性成果，但在续航、环境适应、硬件可靠性和自主性等方面仍需改进。人形机器人 产业正处于技术突破与商业化落地的关键节点，政策支持、入局者不断增加及AI大模型赋能共同推动行业加速发展。2 ...

2025年的全球资本市场可能比以往任何一年都要精彩，仅仅不到四个月就堪称波澜壮阔——先是降息预 期反复摇摆，然后是外部关税规则反复变动接近失效，导致资金避险情绪升温。 一、细究：哑铃策略如何跑赢市场？ 不过在这场动荡中，港股市场却异军突起。截至4月15日，南向资金月内累计净流入超1600亿港元，此 前单日净流入更是屡屡创下新高。不到四个月，2025年港股吸金程度已经在近十年中排名第三。 细看资金流向，一个鲜明的策略浮出水面："哑铃策略"——同时重仓高弹性科技股与高股息红利股似乎 已经成为资金押注港股的标配。 2025年一季度，港股经历"过山车行情"。 1月：AI热潮推动科技股单月暴涨20%，红利股横盘； 2月：地缘冲突引发恐慌，科技股回调12%，红利股逆势涨3%； 数据显示，热门红利产品$港股红利低波ETF(SH520550)$已经实现连续20个交易日资金净流入，年内不 到四个月规模增长超200%，成为南向资金加仓的核心标的之一。当前该ETF成分股平均股息率7.5%， 中石油、中海油、四大行等权重股盈利稳定。且2025年恒指回调15%期间，标的指数仅下跌5%，最大 回撤不足科技股的一半。 3月：政策利好释放， ...

据悉，"科创板八条"发布后，科创板行业主题ETF投资标的持续丰富， 已覆盖人工 智能、芯片、新材料、生物医药、新一代信息技术、新能源等主题。 上证报中国证券网讯（记者 何昕怡）最新数据显示，截至目前，科创板芯片ETF规 模合计近300亿元；今年以来陆续上市的6只科创板人工智能ETF规模较发行规模增长近三 倍。 投资有风险,入市需谨慎!本栏目内容仅为投资者 教育之目的,介绍业务知识,揭示投资风险,不构 成对投资者的任何投资建议。投资者不应以该等信 息取代其独立判断或仅依据该等信息做出投资决 策。申万宏源力求本栏目的信息准确可靠,但对这 些信息的准确性或完整性不作保证,亦不对因使用 该等信息而引发或可能引发的损失承担任何责任。 本栏目内容如有变动,恕不另行通知。最终解释权 归申万宏源证券有限公司所有。 免责声明 ...

在美上市iShares安硕MSCI新加坡ETF涨幅收窄至1%，目前暂报20.995美元，美股开盘时曾达到21.10美 元。 美国政府称，与新加坡讨论双方的经济增长问题。 ...