中国经济网北京1月30日讯 A股三大指数早盘涨跌不一，截至午间收盘，上证指数报4108.46点，跌幅 1.19%；深证成指报14162.20点，跌幅0.96%；创业板指报3330.91点，涨幅0.80%。 行业板块方面，种植业与林业、影视院线、通信设备等板块涨幅居前，贵金属、工业金属、小金属等 板块跌幅居前。 A股市场板块涨跌幅排行 | 序号 | 板块 | 涨跌幅(%)▼ | | 总成交量 (万手) = 总成交额 (亿元) ▼ | 净流入 (亿元) ▼ | 上涨家数 | 下跌家数 | | --- | --- | --- | --- | --- | --- | --- | --- | | 1 | 种植业与林业 | 4.12 | 2087.82 | 195.75 | 8.03 | ટર | 5 | | 2 | 影视院线 | 1.82 | 1056.83 | 119.04 | 6.96 | 11 | 8 | | 3 | 通信设备 | 1.22 | 1776.02 | 964.49 | 76.90 | 44 | 45 | | 4 | 旅游及酒店 | 1.13 | 820.22 | 81.53 | 3.31 | 25 ...

来源：上海证券报·中国证券网 | 陸号 | 证券代码 | 证券名称 | > | 所属申万行业名 ... 当目净流入额 [行业类别]2级 [单位]亿元 | | --- | --- | --- | --- | --- | | | | | | [截止日期]最新( ... | | 1 | 600519.SH | 贵州茅台 | > | 33.39 白酒エ | | 2 | 300058.SZ | 蓝色光标 | > | 28.98 广告营销 | | 3 | 000858.SZ | 五 | > | 17.03 白酒工 | | র | 600111.SH | 北方稀土 | > | 15.41 小金属 | | 5 | 002230.SZ | 科大讯飞 | > | 15.40 软件开发 | | 6 | 000901.SZ | 航天科技 | > | 12.26 汽车零部件 | | 7 | 600986.SH | 浙文互联 | > | 10.51 广告营销 | | 8 | 601318.SH | 中国平安 | > | 9.68 保险工 | | 9 | 000568.SZ | 泸州老窖 | イ | 8.53 自酒工 | | 10 | 3 ...

Core Viewpoint - The release of a significant policy in Shanghai has led to a strong rally in the non-ferrous metals sector, particularly the Huabao Non-Ferrous ETF (159876), which saw a price increase of over 2.1% during the day and is approaching its previous listing high [1][11]. Fund Performance - As of the latest update, the Huabao Non-Ferrous ETF (159876) has received a net subscription of 21.6 million units, accumulating a total of 635 million yuan over the past 10 days [1][11]. - The latest scale of the Huabao Non-Ferrous ETF reached 1.665 billion yuan, setting a new historical high, making it the largest ETF tracking the CSI Non-Ferrous Metals Index in the market [6][13]. Stock Performance - Key stocks in the sector, including Baiyin Nonferrous, Hunan Nonferrous, and Shengxin Lithium Energy, have hit the daily limit, with Baiyin Nonferrous rising by 10.01% and Hunan Nonferrous by 10% [3][14]. - Other notable performers include Guocheng Mining, which increased by over 8%, and Zhongkuang Resources, which rose by more than 7% [3][14]. Market Dynamics - The Shanghai government has issued a plan to enhance the competitiveness of non-ferrous metal commodities, aiming to improve resource allocation and global pricing influence [4][12]. - A favorable supply-demand balance, characterized by limited supply growth and improving demand, is expected to support the long-term strength of the non-ferrous sector [5][13]. Investment Outlook - The Huabao Non-Ferrous ETF covers a wide range of metals, including copper, aluminum, gold, rare earths, and lithium, allowing investors to capture various market cycles [8][16]. - Analysts suggest that geopolitical tensions may reshape global metal supply chains, potentially increasing the demand and value of strategic metals such as copper, tungsten, molybdenum, cobalt, and rare earth materials [5][13].

Core Insights - The report emphasizes the construction of a strategy portfolio based on industry and thematic ETFs, leveraging insights from previous strategy reports on industry style continuation and switching perspectives [1] - The strategy update indicates a cumulative net return of approximately 0.53% for the period from December 15 to December 19, 2025, with an excess return of about 0.66% compared to the CSI 300 ETF [2][11] - Since October 14, 2024, the strategy has achieved a cumulative return of approximately 26.72%, outperforming the CSI 300 ETF by about 5.86% [2] ETF Holdings and Performance - The report lists various ETFs with their market values and performance, highlighting the following: - Real Estate ETF (3.51 billion) is newly added with a 100% allocation to real estate development, showing a weekly timing signal of -1 [2] - Battery ETF (145.30 billion) continues to be held with a 62.7% allocation, showing a weekly timing signal of 0 [2] - Innovative Energy ETF (12.02 billion) continues to be held with a 46.04% allocation, showing a weekly timing signal of 0 [2] - Consumer Electronics ETF (11.41 billion) is newly added with a 46.5% allocation to semiconductors, showing a weekly timing signal of 0 [2] - Grid Equipment ETF (31.17 billion) continues to be held with an 80.77% allocation, showing a weekly timing signal of 1 [2] - 5G Communication ETF (79.24 billion) is newly added with a 41.2% allocation, showing a weekly timing signal of 1 [2] Weekly Recommendations - For the week of December 22 to December 26, 2025, the report recommends increasing holdings in sectors such as real estate development, batteries, and photovoltaic equipment, while continuing to hold existing positions in battery, innovative energy, and grid equipment ETFs [11]

Core Viewpoint - The non-ferrous metal sector showed strong performance on December 17, with the leading non-ferrous metal ETF (159876) rising over 3.8% during the day and closing up 3.27%, indicating positive market sentiment towards the sector [1][10]. Fund Flows - The non-ferrous metal ETF attracted significant capital, with a single-day inflow of 10.13 million yuan and a total of 198 million yuan over the past 20 days, reflecting investor confidence in the sector's future performance [1][10]. Stock Performance - Lithium stocks surged, with Shengxin Lithium Energy hitting the daily limit, Zhongmin Resources rising over 8%, Tianqi Lithium increasing by 6%, and Ganfeng Lithium up nearly 5%. In the lead zinc sector, Guocheng Mining also hit the daily limit, while Xingye Silver Tin rose over 6%. In the aluminum sector, Zhongfu Industrial increased by over 5%, Huafeng Aluminum by over 4%, and China Aluminum by over 3% [3][12]. Macro Factors - In the macroeconomic context, the U.S. added 64,000 non-farm jobs in November, with the unemployment rate unexpectedly rising to 4.6%, the highest in four years. This weak job market increases the likelihood of interest rate cuts by the Federal Reserve, which could support non-ferrous metal prices [4][13]. Industry Insights - Lithium carbonate futures saw a significant spike, rising over 8% to reach 109,860 yuan/ton. The cancellation of 27 mining licenses may impact the supply-demand dynamics of lithium, potentially driving prices higher. CITIC Securities expressed optimism about copper, aluminum, and gold as key investment options, citing limited new copper capacity and increasing demand from renewable energy and AI data centers [5][14]. Investment Strategy - Given the current market conditions and geopolitical tensions, non-ferrous metals are viewed as core assets for medium to long-term investment. The non-ferrous metal ETF (159876) and its linked funds provide comprehensive exposure to various metals, allowing for risk diversification compared to investing in single metal sectors [6][14].

Core Viewpoint - The strong performance of the Nonferrous Metal Leader ETF (159876) indicates positive market sentiment towards the nonferrous metal sector, with significant capital inflows and a notable increase in ETF size [1][3]. Group 1: ETF Performance - The Nonferrous Metal Leader ETF (159876) saw a peak intraday increase of 1.92% and is currently up by 1.81%, reflecting strong investor interest [1]. - The ETF attracted 10.13 million yuan in a single day and has accumulated 198 million yuan over the past 20 days, indicating a bullish outlook on the nonferrous metal sector [1]. - As of December 16, the ETF's latest size is 840 million yuan, making it the largest among three ETFs tracking the same index in the market [1]. Group 2: Component Stocks - Key component stocks include Guocheng Mining, which hit the daily limit, and Shengxin Lithium Energy, which rose over 7%, along with Zhongkuang Resources and Yahua Group, both increasing by over 5% [3]. - The top-performing stocks in the ETF's index include Guocheng Mining (9.98%), Shengxin Lithium Energy (7.11%), and Zhongkuang Resources (5.38%) [3]. Group 3: Market Conditions - Recent U.S. employment data showed a weak job market, with November non-farm payrolls increasing by only 64,000 and the unemployment rate rising to 4.6%, the highest in four years [3]. - Analysts suggest that the employment data indicates a "gradual cooling" of the labor market, influencing market expectations for potential interest rate cuts by the Federal Reserve in 2026 [3]. Group 4: Future Outlook - Citic Securities believes that as long as the Federal Reserve remains in a rate-cutting cycle, there will be upward momentum for nonferrous metal prices [4]. - Dongfang Securities notes that during a rate-cutting cycle, even small supply-demand gaps in physical assets can lead to significant price elasticity, suggesting a potential supercycle for industrial metals like copper and aluminum [4]. - The duration of the nonferrous metal supercycle is expected to depend on the recovery of U.S. dollar credit, strategic stockpiling progress, and the effectiveness of "anti-involution" policies, with a high likelihood of continuation until 2026 [4]. Group 5: Investment Strategy - Given the varying degrees of market conditions and drivers among different nonferrous metals, a diversified investment approach through the Nonferrous Metal Leader ETF (159876) is recommended to better capture the sector's beta performance [6].

中国经济网北京11月3日讯 A股三大指数今日集体上涨，截至收盘，上证指数报3976.52点，涨幅 0.55%，成交额9417.04亿元；深证成指报13404.06点，涨幅0.19%，成交额11654.27亿元；创业板指报 3196.87点，涨幅0.29%，成交额5358.02亿元。 行业板块方面，影视院线、游戏、油气开采及服务等板块涨幅居前，电池、小金属、非金属材料等板块 跌幅居前。 A股市场板块涨跌幅排行 | 序号 | 板块 | 涨跌幅(%)▼ | 总成交量(万手)▼ | 总成交额(亿元) ▼ | 净流入(亿元) ▼ | 上涨家数 | 下跌家数 | | --- | --- | --- | --- | --- | --- | --- | --- | | 1 | 影视院线 | 3.31 | 1159.31 | 104.10 | 7.87 | 18 | 2 | | 2 | 游戏 | 3.09 | 1212.51 | 205.25 | 8.96 | 24 | 0 | | 3 | 油气开采及服 ਡੇ | 2.88 | 1457.78 | 87.36 | 8.32 | 18 | വ | | 4 | 文化传媒 | 2.5 ...

Market Overview - The A-share market saw a rebound in the afternoon, with all three major indices closing higher. The Shanghai Composite Index closed at 3861.87 points, up 0.04%, with a trading volume of 989.79 billion yuan. The Shenzhen Component Index closed at 13063.97 points, up 0.45%, with a trading volume of 1351.62 billion yuan. The ChiNext Index closed at 3087.04 points, up 0.68%, with a trading volume of 638.22 billion yuan [1]. Sector Performance - The leading sectors in terms of growth included internet e-commerce, electric machinery, and automotive parts, with respective increases of 4.33%, 3.62%, and 3.03% [2]. - Conversely, the sectors that experienced declines included aquaculture, insurance, and small metals, with decreases of -1.36%, -1.19%, and -1.16% respectively [2]. Trading Data - The total trading volume for the day was significant, with the internet e-commerce sector recording a net inflow of 8.01 billion yuan, while the aquaculture sector faced a net outflow of -13.62 billion yuan [2]. - The automotive parts sector had a notable net inflow of 79.45 billion yuan, indicating strong investor interest [2].

A股市场板块涨跌幅排行 | 序号 | 板块 | 涨跌幅(%)▼ | 总成交量（万手）▼ | 总成交额(亿元) ▼ | 净流入(亿元) ▼ | 上涨家数 | NEF STORES | | --- | --- | --- | --- | --- | --- | --- | --- | | 1 | 中药 | 3.37 | 2509.24 | 282.05 | 10.44 | ୧୧ | 3 | | 2 | 光伏设备 | 2.41 | 1870.70 | 316.83 | 15.47 | રે | 7 | | 3 | 教育 | 2.06 | 566.62 | 47.29 | 7.45 | 14 | 2 | | র্ব | 橡胶制品 | 1.92 | 305.54 | 39.50 | 4.52 | 15 | 5 | | 5 | 医药商业 | 1.77 | 609.31 | 78.45 | 5.47 | 29 | 2 | | 6 | 造纸 | 1.77 | 723.03 | 31.68 | 1.53 | 21 | 2 | | 7 | 物流 | 1.76 | 1235.51 | 130.07 | 3.95 | 43 | ട് ...