Group 1 - The China Securities Regulatory Commission (CSRC) has announced the trading schedule for the May Day holiday, with the market reopening on May 6 after a five-day break [1] - The investigation of CSRC Vice Chairman Wang Jianjun has raised concerns among investors, although the number of new stocks is expected to increase this year compared to last year, potentially leading to a rise in the total market capitalization of A-shares [1] - There are existing loopholes in the investment protection system, allowing some companies to manipulate stock prices and evade responsibilities through delisting [1] Group 2 - Despite the A-shares missing out on the recent bullish trends in global markets during the holiday, there is an expectation for a rebound in the A-share market post-holiday [3] - The current market is seen as being in a late stage, with a gradual stabilization expected, supported by sectors such as banking, real estate, and electricity [5] - The performance of the securities sector is critical for the overall market stability and upward movement, as its rebound has been below market expectations [6] Group 3 - The A-share market's performance after the holiday remains uncertain, and market participants are advised to observe the developments closely [7]

Group 1 - The Hong Kong stock market experienced significant gains, with the Hang Seng Index rising by 1.74% and the Hang Seng Tech Index increasing by 3.08% [1] - Chinese assets are witnessing a substantial surge, particularly in the Hang Seng Tech Index and Hang Seng Healthcare Index, indicating a broader market recovery [3] - The A-share market is perceived to lag behind Hong Kong stocks, especially in sectors like technology, which are predominantly represented in the Hong Kong market [3] Group 2 - A-share market is expected to restart a bull market after a seven-month consolidation, with a belief that the market will rise significantly, particularly in the second half of the year [5] - The market is currently at a pivotal point, with a potential for a rally if key sectors such as liquor, securities, and real estate see significant gains [5] - There is an expectation that funds will return to the equity market, prioritizing Hong Kong stocks before A-shares catch up [5] Group 3 - The sentiment in the market is heavily influenced by emotions, with smaller investors often engaging in speculative behavior, which can lead to poor decision-making [7] - Investors are advised to maintain patience and focus on long-term strategies rather than reacting impulsively to market fluctuations [7]

Group 1 - The core viewpoint highlights the increasing preference for defensive assets, particularly the Hong Kong dividend low volatility ETF (520550), which has seen continuous net inflows for nine weeks and a nearly 6% increase in fund size year-to-date, reaching a historical peak [3] - The structural differences in high dividend assets between A-shares and Hong Kong stocks are noted, with A-shares concentrated in traditional industries like coal, banking, and textiles, while Hong Kong's high dividend sectors are more diversified, including real estate, public transport, and construction [3] - The defensive nature of dividend assets is emphasized, showing significant excess returns during market downturns, although absolute returns remain positively correlated with overall market trends [3] Group 2 - The Hong Kong dividend low volatility ETF (520550) is designed to optimize investment experience through a low management fee of 0.2%, monthly dividend distribution, and T+0 trading to enhance liquidity [4] - The ETF focuses on mature industry leaders in finance and energy, with strict weight limits on individual stocks to avoid "dividend traps," creating a balanced investment portfolio [4] - Analysts suggest that in the current complex market environment, Hong Kong dividend assets with valuation advantages and dividend certainty may become a key strategic allocation choice, especially as the interconnectivity between mainland and Hong Kong markets deepens [4]

今日的A股，三大指数没跌多少，上证指数翻红的时候，依旧有4000家股票下跌，有50家股票跌停板，远离股票不是博主的一句空话，而是救命。 一直以来，反复劝说远离股票，怒其不争，哀其不幸。目前的上证指数是3300点，而不是2300点。大家亏损与大盘指数有什么关系，上证指数年线只有 1.7%的跌幅，随时可以翻红。 不用等3点了！ 不出意外，下午的指数会翻红收盘，只是与股民有什么关系？我们指数玩家，只关心指数涨跌，就算以后都是4000家，3000家股票下跌，与我们何干！ 是大盘指数跌了，还是权重行业跌了？目前的情况很明朗，小盘股，绩差股熬不过这次的经济周期了，只有金融、权重、指数可以穿越牛熊…… 汇金有央行为后盾，只要跌了就可以增持宽基ETF，大家持股有谁增持吗？汇金买错了也不买中小盘股票，小凡也是如此，我闭眼都不会参与中小盘股票。 银行护盘，白酒也没有跌，上证指数随时翻红。后面的行情就是地产、证券的补涨了，地产的回调很理性，没有急跌就没的报复性反弹。 大概率会探底回升 大概率会反弹，个人依旧认为会3连涨，只是与股民没有关系，一个指数玩家的观点，请不要用来炒作股票！大家的逻辑不同，指数不会跌多少，也不会 ST，更不会 ...

回溯过去20年，基金重仓股经历了银行、地产等周期为王的时代，以及白酒和制造业强势的时代，逐步 演进到现在科技主导的时代。 如果说股市是经济的晴雨表，基金重仓股则是产业发展的风向标。基金重仓股的变动，折射了产业发 展，折射了时代变迁。 周期为王 至今依然是顶峰 对于2005年至2007年牛市的亲历者来说，那是一段萦绕脑海的美好回忆。 回溯过去20年，基金重仓股经历了银行与地产等周期为王的时代，以及白酒和制造业强势的时代，逐步 演进到科技主导的时代。如果说股市是经济的晴雨表，基金重仓股则是产业发展的风向标。基金重仓股 的变动，折射了产业发展，折射了时代变迁 ◎记者 赵明超 近日披露的公募基金一季报显示，截至今年一季度末，腾讯控股首次成为基金头号重仓股，终结了此前 数年的贵州茅台和宁德时代的"二人转"，成为公募基金的最爱。 从2010年开始，随着智能手机产业链的爆发，电子产业迎来"黄金十年"，迅速成为市场最为关注的投资 方向之一。2019年以来，光伏、新能源成为基金经理布局的重要方向。同上述主线相伴的是消费升级方 向，在经济高速发展背景下，民众对美好生活的追求显现，家电板块持续走强。而持续走强的高端白酒 板块，让张 ...

以下文章来源于36氪财经 ，作者丁卯 郑怀舟 36氪财经 . 36氪旗下官方账号。洞见市场，比99%的投资者更聪明。 政策定调进一步增强中国资产韧性。 文 ｜ 丁卯 编辑 ｜ 郑怀舟 来源｜ 36氪财经（ID：krfinance） 封面来源 ｜ 视觉中国 本周，在海外关税担忧继续缓解叠加央行超额续作MLF向市场注入中期流动性的双重利好下，市场整体处于快速波动后的弱平衡阶段，大盘延续了震荡反 弹走势。各宽基指数多数上涨，整体来看，小盘股和中盘股的修复略好于大盘股，但板块轮动和分化依旧加速。周内，主要宽基指数中，上证指数上涨 0.56%；深证成指上涨1.38%；创业板指上涨1.74%；中证1000上涨1.85%；中证2000上涨2.71%。 行业板块上，本周31个申万一级行业涨多跌少，其中24个实现上涨，7个出现下跌。涨幅排名前三为，汽车、美容护理、基础化工；涨幅排名落后的为食 品饮料、地产和煤炭。概念板块上，周内wind热门概念中表现较好的为PEEK材料、光通信、射频及天线等。 政策积极定调， 后续市场机会与风险并存 本周，中央政治局会议召开，明确提出了要"持续稳定和活跃资本市场"，而且周内央行加码MLF向市场 ...

//一 周头条// // 国内投资要闻 // 1 . 投资者押注市场复苏，杠杆股票ETF受到欢迎 。 4月杠杆股票交易所交易基金（ETF）流入量激增，因为一些投资者寻求在市场从关税引发 的抛售中复苏时获得更大的收益。 根据LSEG Lipper的数据，本月迄今为止，杠杆股票基金已获得109.5亿美元的资金流入，已超过上个月创下 的92亿美元的五年高点。 此前的峰值出现在2020年3月，当时市场受到新冠疫情危机的重创。 2. 英国金融行为监管局寻求简化投资公司的资本规则 。英国金融行为监管局正在寻求简化有关投资公司必须持有的基金规则，以吸收损失并保持在 低迷市场的韧性，拟议的改革可能会将繁琐的程序减少多达70%。该监管机构目前正在修改英国金融业的监管规定，以促进其增长和竞争力。该机 构表示，简化欧盟衍生的金融工具市场指令（MiFID）规则的提议将减少投资公司在解释和应用要求上花费的时间和资源。 // 本周市场 // 01 本周主要股指及行业回顾 4月25日，A股横盘整理，电力股领涨，地产股午后跳水。本周，上证指数涨0.56%，深证成指涨1.38%，创业板指涨1.74%。 1 . 中共中央政治局会议： 适时降准降 ...

Group 1 - The Shanghai Composite Index experienced a slight decline of 0.1%, closing at 3296.36 points, while the Shenzhen Component Index and the ChiNext Index saw increases of 0.67% and 1.07%, respectively [1] - The total trading volume across the Shanghai, Shenzhen, and Beijing markets reached 12,626 billion yuan, indicating active market participation [1] - Various sectors such as food and beverage, logistics, tourism, and real estate faced declines, while the automotive supply chain, chemical fiber, and home appliance sectors showed strong upward movement [1] Group 2 - The market remains stable under the support of state-owned funds, with passive capital continuing to flow in, although at a reduced scale compared to the previous week [2] - The upcoming Central Political Bureau meeting at the end of April is highlighted as a key event for observing potential increases in domestic demand policies [2] - There is an expectation for a shift in A-share market style from defensive value to growth as risk preferences stabilize [2]

Group 1: Market Overview - The domestic stock indices showed mixed performance last week, with the CSI 300, SSE 50, and SSE Composite Index rising by 0.59%, 1.45%, and 1.19% respectively, while the CSI 500, CSI 1000, and ChiNext Index fell by -0.37%, -0.52%, and -0.64% respectively [2][9] - The style indices also exhibited mixed results, with financial, cyclical, consumer, growth, and stability style indices changing by 2.76%, 0.35%, -0.05%, -0.54%, and 1.10% respectively [2][9] - The trading volume of the comprehensive ETF last week was 1014.99 billion yuan, a decrease of 1255.55 billion yuan from the previous week [27] Group 2: ETF Performance - Among the 32 thematic ETFs, the average weekly change was -0.10%, with large-cap style ETFs averaging a weekly change of 1.14% and small-cap style ETFs averaging -1.04% [3][28] - The top three performing comprehensive ETFs were the 50ETF, 300ETF, and another 300ETF, with changes of 1.61%, 0.86%, and 0.80% respectively, while the bottom three were ChiNext, 1000ETF, and 500ETF, with changes of -0.74%, -0.47%, and -0.41% respectively [4][32] - In the thematic ETFs, the top performers were the banking ETF, real estate ETF, and financial ETF, with changes of 4.03%, 3.25%, and 2.92% respectively [32] Group 3: Fund Flows - The comprehensive ETFs continued to see inflows, particularly in the SSE 50, CSI 300, CSI 500, and CSI 1000, indicating ongoing support for these weighted indices [32] - In the thematic sectors, there was notable inflow into banking, real estate, and pharmaceutical sectors, suggesting a bottom-fishing strategy by investors [32] Group 4: Bond and Commodity Markets - In the bond market, the Shanghai Stock Exchange convertible bonds fell by -0.43%, while the pure bond indices showed slight increases of 0.02%, 0.06%, and 0.08% for government, corporate, and local government bonds respectively [16][17] - The commodity market showed mixed results, with the Nanhua precious metals index, CRB commodity index, and CRB poultry spot changing by 3.64%, 2.05%, and 1.88% respectively [19][22]

首先，贸易冲突的进展仍主导市场短期运行。上周贸易冲突虽然没有明显升级，但是当前高额的关 税，使得全球贸易面临重大挑战，投资者的关注重心逐渐转向其对实体经济的影响。当前国际环境下， 国内积极的宏观经济政策如何进一步推进，成为市场关注的焦点和投资线索。与此同时，国内一季度的 经济数据和上市公司的年报、季报正在进入密集披露期，投资者需要密切关注具体数据是否能够达到市 场的预期。此外，上周美国人工智能芯片的出口政策有进一步收紧的趋势，科技领域的竞争和突围势在 必行，国内科技行业的进展也将很大程度上影响市场的风险偏好。 上周，两市震荡分化，成交大幅萎缩。沪指延续了上周的反弹，总体呈现继续修复的特征。但深圳 市场表现偏弱，周一开盘几乎就是最高点，随后一路小幅回落。量能方面，上周未能延续上周的放量格 局，量能出现了明显萎缩。上周市场热点主要集中在银行地产等低估值行业以及大消费行业。投资风格 方面，大盘蓝筹明显强于中小盘和科技风格。 从市场运行节奏看，沪指在周线箱体中轨线找到支撑，正在展开超跌反弹。沪指于三月中下旬，在 去年四季度的密集成交区间遇到较强技术阻力，开始进入调整。最终在周线的箱体中轨线附近找到支撑 并展开反弹。目 ...