Core Viewpoint - The market experienced a downward adjustment in early trading, with all three major indices declining, and the CSI A500 index falling by 1.56% [1]. Market Performance - In the market, sectors such as batteries and semiconductors saw collective adjustments, while the focus shifted to electric grid equipment, nuclear power, and military industries [2]. - As of the morning close, ETFs tracking the CSI A500 index dropped over 1%, with 13 related ETFs having transaction volumes exceeding 100 million yuan, and 4 surpassing 2.9 billion yuan. The transaction volumes for A500 ETF fund, CSI A500 ETF, and A500 ETF Huatai-PB were 3.748 billion yuan, 3.214 billion yuan, and 2.986 billion yuan respectively [2]. Economic Outlook - A brokerage firm indicated that with the Federal Reserve initiating a rate-cutting cycle in October, the global liquidity environment is expected to become more accommodative, which may broaden the operational space for domestic monetary policy. This has led to increased market expectations for subsequent easing measures from the central bank, potentially boosting market risk appetite [2]. - However, the increasing congestion in previously popular sectors may heighten short-term market volatility risks. Based on this assessment, a balanced investment strategy incorporating both growth and value styles is recommended [2].

具体来说，"266策略"(中证A500-沪深300)相当于对中证A500这个资产配置的大模型进行蒸馏提纯，更 加聚焦战略新兴领域，包括电力设备、医药生物、国防军工等行业，更聚焦弹性较大的中小龙头公司。 当中证A500相对沪深300展现超额收益时，"266策略"凭借"倍增效应"，将这种优势进一步放大。 杨衡认为："在经济高质量发展的主线之下，聚焦新质生产力的投资逻辑不会改变。我们不仅看好中证 A500指数的长期价值，更坚信中证A500之'266策略'能在结构转型中持续创造超额收益。对于投资者而 言，把握这一顺应趋势的工具，或许能更高效地分享中国经济转型的红利。" 据介绍，沪深300指数主要由"金融+消费"双轮驱动。而中证A500指数通过行业再平衡，降低了金融和 消费股的权重，纳入更多高端制造、战略新兴产业标的，形成"大盘稳健+中盘成长+细分隐形冠军"三 层结构，因此弹性更大、行业轮动捕捉能力更强。同时，中证A500指数的全部成分股均在互联互通名 单，且已嵌入ESG负面筛选，国际资金可无障碍配置，减少被动调仓成本。 "鉴于此，我们通过综合中证A500指数、沪深300指数编制的两类审美标尺相互校验，将两个指数叠 加 ...

截至收盘，中证A500指数上涨1.6%，中证A100指数上涨1.9%，中证A50指数上涨1.7%，A500ETF易方达（159361）全天成交额超35亿元。 兴业证券指出，经历9月以来的震荡整固后，新一轮上行动能已在蓄势，假期期间全球宽松的宏观环境、结构性亮点提供的线索指引，均有望为节后A股奠 定上行基础。 每日经济新闻 ...

有券商表示，展望后市，在经济基本面保持平稳、A股增量资金持续流入、全球流动性宽松和中美关系 改善的大背景下，A股有望继续维持震荡向上的大趋势。 （文章来源：每日经济新闻） 盘面上，芯片产业链爆发，有色金属板块反复活跃。下跌方面，影视院线概念股重挫。 截至上午收盘，场内跟踪中证A500指数的ETF涨超1%。其中，有12只中证A500相关ETF成交额超1亿 元，4只超30亿元。A500ETF基金、中证A500ETF、A500ETF华泰柏瑞、A500ETF南方早盘成交额分别 为40.13亿元、35.13亿元、30.48亿元、30.34亿元。 市场早盘震荡反弹，上证指数涨逾1%，中证A500指数上涨1.72%。 ...

10月9日，A股迎来节后开门红，上证指数、深证成指、创业板指、科创50、中证A500等核心宽基指数 纷纷走强，截至13:08，同类成交额最大的A500ETF基金（512050）涨超1.5%。持仓股迈为股份20cm涨 停，西部超导涨超19%，沪硅产业、中微公司、北方军政、铜陵有色、通富微电等批量冲高。 节前资金积极布局A股核心资产，近5个交易日，A500ETF基金（512050）获得资金净申购19.62亿元。 资料显示，中证A500指数，采取行业均衡配置与龙头优选双策略，中证全部35个细分行业全覆盖，融 合价值与成长属性，相比沪深300，超配AI产业链、医药生物、电力设备新能源等新质生产力行业，具 备天然的哑铃投资属性。场外联接（A类：022430；C类：022431；Y类：022979）。 东吴证券策略团队指出，传统日历效应下，国庆后市场多呈"涨多跌少"的格局，而本轮节前2个交易日 已出现资金提前博弈反弹的动作，因此节后指数层面需重视量价的配合情况。节假日期间，内外部利好 叠加，尤其海外美联储降息预期升温、中美谈判或释放乐观信号、AI产业趋势催化显著，预计短期内 市场风格或偏向具备催化的、远期成长属性更强、估 ...

国家统计局公布9月数据，中国制造业采购经理人指数（PMI）较上月回升0.4个百分点至49.8%，创下 近六个月新高，表明制造业景气水平正持续改善。分类指数方面，制造业生产指数为51.9%，比上月上 升1.1个百分点，升至近6个月高点；新订单指数为49.7%，比上月上升0.2个百分点；新出口订单上升0.6 个百分点至47.8%。 （文章来源：每日经济新闻） "A系列"指数今日集体收涨，截至收盘，中证A500指数上涨0.7%，中证A100指数上涨0.8%，中证A50指 数上涨0.6%，A500ETF易方达（159361）全天成交额约40亿元。Wind数据显示，该产品最新规模超230 亿元，创历史新高。 ...

Core Viewpoint - The A-share market showed a strong upward trend in the morning session, with the CSI A500 index rising by 0.47%, driven by active trading in the new energy sector and a rebound in the securities sector, while education stocks experienced a collective adjustment [1] Market Performance - The CSI A500 index-related ETFs saw a slight increase in trading volume, with 12 ETFs exceeding a transaction volume of 1 billion yuan, and 3 ETFs surpassing 3.8 billion yuan. The transaction volumes for A500ETF Fund, A500ETF Southern, and CSI A500ETF were 4.436 billion yuan, 3.939 billion yuan, and 3.893 billion yuan respectively [1][2] - The overall market maintained a high trading activity level, with daily transaction volumes exceeding 2 trillion yuan, indicating robust market engagement [1] Sector Analysis - The new energy sector experienced a collective surge, contributing significantly to the market's upward momentum [1] - The securities sector showed strength during the session, reflecting positive sentiment among investors [1] Future Outlook - Analysts suggest that with the return of capital post the National Day holiday, there is potential for upward movement in the market, supported by positive catalysts from the technology industry, which may create more structural investment opportunities [1]

Group 1 - The A-share market experienced a collective decline on September 26, with the Shanghai Composite Index down 0.65%, the Shenzhen Component down 1.76%, and the ChiNext Index down 2.6% [1] - The A500 ETF (512050), which tracks the CSI A500 Index, saw a slight pullback of 1.03% with a trading volume exceeding 5.4 billion yuan, ranking first among similar products [1] - The A500 ETF has seen a net inflow of funds for three consecutive trading days, accumulating 1.332 billion yuan in the past five days [1] Group 2 - The National Bureau of Statistics reported that from January to August, the total profit of industrial enterprises above designated size reached 46,929.7 billion yuan, a year-on-year increase of 0.9%, reversing the profit decline trend since May [1] - The profit growth in the equipment manufacturing industry was 7.2%, contributing to the recovery of industrial profits [1] - As the National Day holiday approaches, investors are considering whether to hold stocks, with CITIC Securities suggesting that pre-holiday liquidity often contracts due to emotional factors, but typically, the market experiences a "post-holiday rally" [1] Group 3 - The new generation core broad-based A500 ETF (512050) helps investors easily allocate to core A-share assets, covering all 35 sub-industries with a strategy that combines industry balance and leading company selection [2] - The A500 ETF is overweight in new productivity sectors such as AI, pharmaceuticals, and renewable energy compared to the CSI 300 Index, providing a natural "dumbbell" investment characteristic [2]

展望后市，近期多家券商陆续发布2025年四季度A股策略报告，整体上持相对积极态度，认为上涨行情 尚未结束，四季度市场有望继续挑战新平台；流动性上，人民币汇率回升吸引外资流入，内外政策共振 有望使市场呈现出较多的主题性机会；风格上，四季度A股有望更加均衡。 资料显示，A500ETF嘉实（159351）跟踪中证A500指数，由各行业市值较大、流动性较好的500只股票 组成，行业分布均衡，偏向大中盘风格，且新质生产力成分占比较高，为投资者配置A股代表性公司提 供了工具。场外投资者可以通过嘉实中证A500ETF联接基金（A类022453；C类022454）布局优质核心 资产上行机遇。 每日经济新闻 9月26日，A股三大指数收跌，创业板指跌超2.5%。主要宽基指数中，中证A500指数收跌1.14%，但本 周累计上涨1.19%，表现较好。 相关ETF产品中，A500ETF嘉实（159351）连续三周收涨，日K、周K均维持多头趋势。截至周五，该 产品年内累计上涨21.43%，跑赢上证指数同期表现（14.21%）。 消息面上，本周二（9月23日），中证A500指数发布满一周年。有观点认为，该指数见证了市场情绪从 冰点转向慢牛 ...

市场早间震荡调整，创业板指跌超1%，中证A500指数下跌0.47%。 有券商表示，美联储降息利好A股走势，人民币有望走强，市场风险偏好或进一步改善。预计短期市场以稳步震荡上行为主，仍需密切关注政策面、资金面 以及外盘的变化情况。 | 代码 | 名称 | 现价 | 涨跌幅 IOPV 溢折率 换手率 成交金额 | | | --- | --- | --- | --- | --- | | 512050 A500ETF基金 | | 1.160 | -0.51% 1.1602 -0.02% 24.69% 41.91亿 | | | 159338 | 中证A500ETF | 1.168 | -0.51% 1.1674 0.05% 16.04% 34.62亿 | | | 563360 A500ETF华泰柏瑞 | | 1.232 | -0.56% 1.2335 -0.12% 12.07% 29.14亿 | | | 159352 A500ETF南方 | | 1.215 | -0.41% 1.2142 0.07% 13.86% 27.87亿 | | | 159361 | A500ETF易方达 | 1.187 | -0.50% 1.1 ...