Market Performance - The Sci-Tech 50 Index decreased by 2.88% over the last five trading days, while the ChiNext Index increased by 2.51%. The large-cap value index rose by 0.48%, and the large-cap growth index increased by 1.38%. The Shanghai 50 Index fell by 1.20%, and the small-cap index represented by the CSI 2000 declined by 1.13%. Coal and electric equipment sectors performed well, while defense, military, oil, and petrochemical sectors lagged behind [1]. Risk Premium and Valuation Levels - As of March 13, 2026, the risk premium, measured as the inverse of the static PE of the CSI All Share Index minus the yield of 10-year government bonds, stood at 2.48%. The two-standard deviation boundary is 4.63% [1]. - The valuation level of the CSI All Share Index's TTM PE is at the 83rd percentile. The Shanghai 50 and CSI 300 indices are at 71% and 75%, respectively, while the ChiNext Index is close to 62%. The CSI 500 and CSI 1000 indices are at 68% and 67%, respectively, indicating that the ChiNext Index's valuation is relatively at the historical median level [1]. ETF Fund Flow - In the last five trading days, ETF funds experienced an outflow of 12.3 billion yuan, while margin trading increased by approximately 12 billion yuan. The average daily trading volume across both markets was 24,792 billion yuan [2]. Industry Themes and Indexes - The latest thematic allocation focuses on sectors such as electricity, power grid, and public utilities, including specific indices like the National Green Power Index, CSI Green Power Index, CSI All Share Power Public Utilities Index, CSI All Share Public Utilities Index, and CSI Power Grid Equipment Theme Index [2][3][12]. Market Sentiment and Risk Preference - The report includes observations on market sentiment based on the proportion of stocks above the 200-day long-term moving average, as well as tracking risk preferences between equity and bond assets [13][14]. Financing Balance - The report provides insights into the financing balance, indicating trends in margin trading and overall market leverage [16]. Individual Stock Performance - There is a statistical distribution of individual stock performance year-to-date based on return intervals, highlighting the performance of various stocks within the market [18]. Oversold Indices - The report notes instances of indices being oversold, which may present potential investment opportunities [20].

Market Performance - The Sci-Tech 50 Index decreased by 4.95% over the last five trading days, while the ChiNext Index fell by 2.45%. In contrast, the large-cap value stocks rose by 1.17%, and large-cap growth stocks declined by 1.10%. The Shanghai Stock Exchange 50 Index dropped by 1.54%, whereas the small-cap index represented by the CSI 2000 increased by 3.53%. The oil and coal sectors performed well, while media and non-ferrous metals lagged behind [1]. Valuation Levels - As of March 6, 2026, the static PE of the CSI All Share Index indicates an earnings yield (EP) of 2.47% when compared to the 10-year government bond yield. The two-standard deviation boundary is at 4.64%. The CSI All Share Index's PE TTM is at the 84th percentile, with the SSE 50 and CSI 300 at 72% and 75%, respectively. The ChiNext Index is close to 58%, while the CSI 500 and CSI 1000 are at 69% and 68%, respectively. The ChiNext Index's valuation is relatively at the historical median level [1]. ETF Fund Flows - In the last five trading days, ETF inflows amounted to 5 billion yuan, while the financing balance decreased by approximately 16 billion yuan. The average daily trading volume across the two markets was 26,212 billion yuan [2]. Industry Themes - The latest thematic allocation focuses on sectors such as electricity, power grids, and public utilities. This includes specific indices like the National Green Power Index, CSI Green Power Index, CSI All Share Power Utility Index, CSI All Share Utility Index, and CSI Power Grid Equipment Theme Index [2][3]. Long-term Market Sentiment - The proportion of stocks above the 200-day moving average is being tracked to gauge market sentiment [13]. Risk Preference Tracking - The risk preference between equity and bond assets is being monitored, reflecting investor sentiment towards riskier assets [14]. Financing Balance - The financing balance data indicates trends in investor leverage and market participation [16]. Individual Stock Performance - Statistics on individual stock performance year-to-date based on return ranges are being compiled to assess market dynamics [19]. Oversold Indices - Analysis of indices that are currently oversold is being conducted to identify potential buying opportunities [20].