（原标题：A股放量上涨！中韩半导体ETF涨超7%，芯片50ETF、半导体ETF、科创半导体ETF、科创 芯片ETF基金涨超3%） 十月首个交易日，A股三大指数今日高开高走，沪指时隔十年站上3900点；截至收盘，沪指涨1.32%报 3933.97点，深证成指涨1.47%，创业板指涨0.73%，科创50指数涨2.93%。全市场成交额2.67万亿元，较 前一交易日增量4746亿元，超3100股上涨，近百股涨停。 ETF方面，中韩半导体ETF涨超7%；芯片50ETF、芯片ETF基金、芯片ETF龙头、科创半导体ETF鹏华、 科创芯片ETF、半导体ETF、科创芯片ETF南方、科创芯片ETF博时、科创芯片ETF富国、科创芯片ETF 基金、芯片龙头ETF涨超3%。 中韩半导体ETF跟踪的是中证韩交所中韩半导体指数，全市场首只采用跨境合编指数模式的半导体主题 基金，该指数由中证半导体15指数和KRX半导体15指数按等权重合并组成，最大特点是同时覆盖两国 各15只半导体龙头股。 中国和韩国的半导体产业具有很强的互补性。韩国在存储芯片、逻辑芯片等领域全球领先，拥有全球 HBM巨头三星电子、SK海力士；中国则在芯片设计、封装测试等环 ...

来源：上海证券报·中国证券网 上证报中国证券网讯 10月9日，ETF午间收盘涨跌不一，中韩半导体ETF(513310)涨8.57%，黄金股ETF 基金(159315)涨8.53%，黄金股ETF(517520)涨8.19%，货币ETF(511600)跌3.87%，房地产ETF(159768)跌 3.37%，影视ETF(159855)跌3.37%。 ...

Group 1: Hong Kong Stock Market Performance - The Hong Kong stock market has seen a significant rise since September 5, with the Hang Seng Technology Index surging by 4% recently, and the Hang Seng Index briefly surpassing 27,000 points [1] - Baidu's stock has increased by 54% in September, reaching a new high for 2023, while Alibaba's market capitalization has returned to 3 trillion HKD, marking a near four-year high [1] - The semiconductor sector has also experienced a rebound, particularly after news that Alibaba and Baidu have begun using self-developed chips for AI model training, leading to accelerated growth in the sector [1] Group 2: Semiconductor Index and ETF Performance - The semiconductor index has shown a trend of "buying more as prices rise," with the China-Korea Semiconductor Index leading with a 16% increase and attracting 290 million CNY in net inflows [2][4] - The China-Korea Semiconductor ETF (513310) has seen a net inflow of 374 million CNY over six consecutive days, making it the top performer in its category [6][8] - The China-Korea Semiconductor Index combines 15 leading semiconductor stocks from both China and South Korea, highlighting the complementary strengths of both countries in the semiconductor industry [11] Group 3: Foreign Investment in Hong Kong Stocks - Foreign investors have been significant buyers in the Hong Kong stock market, particularly noted during a recent surge in the Hang Seng Technology Index, with Baidu and Alibaba attracting substantial capital inflows [12] - Despite a net inflow of 1.2 billion USD from mainland "southbound funds," the majority of buying activity was attributed to foreign investors, indicating a shift in market dynamics [12] - The performance of major tech stocks like Alibaba and Baidu remains strong, with their price-to-earnings ratios still at historically low levels, suggesting potential for further growth [13][15]

Group 1: ETF Market Overview - As of September 12, 2025, there are 1,292 ETFs in the Shanghai and Shenzhen markets, with a total asset management scale of 52,387.73 billion [2] - The breakdown of ETFs includes 1,029 stock ETFs (35,315.17 billion), 39 bond ETFs (5,718.88 billion), 27 money market ETFs (1,564.76 billion), 17 commodity ETFs (1,611.53 billion), 173 cross-border ETFs (8,120.58 billion), and 6 unlisted ETFs (52.32 billion) [2] - In the week from September 8 to September 12, 2025, four new stock ETFs were launched, including two fintech-themed ETFs, with a total issuance scale of 5.682 billion [3][4] Group 2: ETF Performance Analysis - The median weekly return for stock ETFs was 1.97%, with the best-performing ETF being the China United Asset Management's Sci-Tech Chip Design ETF, which rose by 10.14% [3][4] - Conversely, the worst performer was the Guotai Junan Sci-Tech Innovation Drug ETF, which fell by 3.12% [4] - The average share change for stock ETFs was an increase of 6.6576 million shares, with the chemical ETF seeing the largest increase of 2.968 billion shares [4] Group 3: PB-ROE Framework and ETF Rotation Strategy - The PB-ROE framework categorizes industries into six quadrants, focusing on high PB and high ROE industries in the third quadrant and low PB and medium ROE industries in the fifth quadrant [5] - Backtesting from 2017 to February 2024 shows that only the third and fifth quadrants achieved excess returns, with annualized excess returns of 4.27% and 1.55%, respectively [5] - The combined PB-ROE rotation strategy yielded an annualized return of 11.93% and an annualized excess return of 13.22% [6] Group 4: Investment Recommendations - The report recommends focusing on the automotive, transportation, and public utilities sectors, corresponding to their respective industry ETFs [8]

Group 1 - The "Second Golden Unicorn Best Investment Advisor Selection" event is currently ongoing, with over 3,000 professional investment advisors participating in simulated trading competitions [1] - The event aims to provide a platform for investment advisors to showcase their capabilities, expand services, and enhance skills, thereby promoting the healthy development of China's wealth management industry [1] Group 2 - The top ten most frequently bought ETFs on September 16 include the Robot ETF, Tourism ETF, and Hong Kong Securities ETF, indicating strong interest in sectors like robotics and tourism [2] - The top ten ETFs by purchase amount on the same day also feature the Robot ETF and the Korean Semiconductor ETF, highlighting significant investment in technology and robotics [3] Group 3 - The data for the top bought stocks/ETFs is based on the frequency of purchases by all participating advisors, while the purchase amount data reflects the total investment amounts [4] - The competition includes categories for stock simulation, on-site ETF simulation, and public fund simulation, with specific trading rules regarding holding proportions, maximum drawdown, and rebalancing frequency [4]

Market Overview - The A-share market exhibited a fluctuating upward trend from September 8 to September 12, with chip and semiconductor-related ETFs leading the gains, two of which rose over 10% [1][2] - A total of 1,095 ETFs in the market achieved positive returns during the same period, with over 80% of products showing positive performance [2] ETF Performance - The lithium battery ETF (561160) recorded the highest increase of 17.74% since the beginning of September, along with four other battery-related ETFs that saw approximately 17% growth [1][2] - The semiconductor ETFs, particularly the China-Korea Semiconductor ETF, had the highest weekly increase of 10.41%, while several other related ETFs exceeded 8% [2] Fund Flows - The overall ETF market experienced a net inflow of 6.946 billion yuan from September 8 to September 12, with stock-type ETFs being the main contributors to this inflow [3] - The top ten ETFs by net inflow were all stock-type ETFs, with significant contributions from two Hong Kong-related ETFs, each exceeding 3.5 billion yuan in net inflow [3] New Fund Issuance - There has been a noticeable acceleration in the issuance of new funds, with over ten new funds ending their fundraising early in September, some achieving over 1 billion yuan in initial fundraising [4][5] - Several funds, including the Huashang Hong Kong Stock Value Return Mixed Fund, sold out on the first day of issuance, indicating strong market demand [4][5] Market Sentiment - The early closure of multiple new funds is attributed to a market rebound and the fulfillment of fundraising expectations, with fund managers aiming to establish funds quickly to provide investment tools for investors [5] - The current trend shows a batch of funds with short fundraising periods, with many funds setting their fundraising periods to less than ten days [5]

Market Overview - The A-share market saw a broad increase last week, with major indices such as the Sci-Tech 50, Small and Medium-sized Board Index, and CSI 500 Index yielding returns of 5.48%, 3.66%, and 3.38% respectively, while the CSI 300, Shanghai Composite, and ChiNext Index lagged behind with returns of 1.38%, 1.52%, and 2.10% respectively [1] - In terms of trading volume, all major indices except for the Sci-Tech 50 experienced a decline in trading volume last week. The electronic, real estate, and agriculture sectors led in returns with 5.98%, 5.82%, and 4.52% respectively, while banking, comprehensive finance, and pharmaceuticals saw negative returns of -0.64%, -0.58%, and -0.28% respectively [1] Fund Flows - The ETF market experienced a slight net outflow of 1.716 billion yuan last week, with stock ETFs seeing a small net inflow of 2.296 billion yuan and cross-border stock ETFs netting 5.234 billion yuan. Conversely, bond ETFs had a net outflow of 2.86 billion yuan, and money market ETFs saw a net outflow of 8.614 billion yuan [2] - From an index perspective, the securities companies, Hong Kong Stock Connect Internet, and Hong Kong innovative drugs (CNY) saw net inflows of 6.143 billion yuan, 4.848 billion yuan, and 3.555 billion yuan respectively, while the Sci-Tech 50, money market funds, and CSI 300 experienced net outflows of 8.710 billion yuan, 8.614 billion yuan, and 4.224 billion yuan respectively [2][4] ETF Performance - The median weekly return for stock ETFs was 1.88%, with the median return for broad-based ETFs in the Sci-Tech sector reaching 4.03%, the highest among sectors. The median return for technology ETFs was 4.38%, also the highest [11] - Specific ETFs such as the China-Korea Semiconductor ETF, Sci-Tech Chip Design ETF, and Sci-Tech Chip ETF saw significant weekly gains of 10.41%, 10.14%, and 9.04% respectively [12][14] Fund Applications - A total of 46 funds were reported last week, indicating a decrease in the number of applications compared to the previous week. The products included 3 FOFs and 3 QDIIs, along with several thematic ETFs [19] Notable News - The Huashang Hong Kong Stock Connect Value Return Fund completed its fundraising on the first day of issuance, raising over 1 billion yuan with a subscription confirmation ratio of 32.95% [20] - E Fund launched the "Index Direct Train" mini-program, which aggregates all issued ETFs and off-market index funds, providing investors with a one-stop index investment service [21]

Market Performance - The A-share market experienced a strong rebound this week, with the Shanghai Composite Index reaching a new high of 3892.74 points before closing at 3870.6 points, marking a weekly increase of 1.52% [1] - The STAR 50 Index surged by 5.48% this week, while the ChiNext Index rose by 2.1%, breaking through the 3000-point mark [1] ETF Highlights - Semiconductor and chip-related ETFs emerged as the biggest highlights of the week, with over 1200 non-money market ETFs showing a median weekly increase of nearly 2% [2] - The top-performing ETF was the China-Korea Semiconductor ETF, which saw a weekly increase of 10.41%, reaching a historical high [6] - The China-Korea Semiconductor ETF has recorded a cumulative increase of 45% year-to-date, with major holdings including SK Hynix, Samsung Electronics, and several Chinese tech firms [6] Weekly Performance Rankings - The following ETFs topped the weekly performance rankings: - China-Korea Semiconductor ETF: +10.41% [6] - STAR Chip Design ETF: +10.14% [3] - STAR Chip ETF: +9.04% [3] - STAR Chip 50 ETF: +8.81% [3] - Xinchuang ETF: +8.69% [3] - Other notable performers included various STAR Chip ETFs, all showing increases in the range of 8% to 10% [6] Decline in Innovation Drug ETFs - The Hong Kong innovation drug-related ETFs faced significant declines this week, primarily due to adverse news affecting the Chinese innovation drug sector [7] - The top decliners included: - Hong Kong Innovation Drug ETF: -3.33% [7] - Hong Kong Innovation Drug ETF (another variant): -3.33% [7] - Hang Seng Innovation Drug ETF: -3.17% [7] - Despite the recent downturn, the innovation drug sector remains one of the strongest segments among cross-border ETFs this year, with several products showing over 100% gains year-to-date [8] Future Outlook - Analysts at Founder Securities maintain a positive outlook on the innovation drug sector, suggesting that the long-term growth trend remains intact due to the potential for commercialization of Chinese innovations on the global stage [8]

Group 1 - The "Second Golden Kylin Best Investment Advisor Selection" event is currently ongoing, with over 3,000 professional investment advisors participating in simulated portfolio competitions [1] - The event aims to provide a platform for investment advisors to showcase their capabilities, expand services, and enhance skills, thereby promoting the healthy development of China's wealth management industry [1] Group 2 - The top ten most frequently bought ETFs on September 11 include the Robot ETF, State-Owned Enterprises ETF, and Broker ETF, indicating strong interest in these sectors [2] - The top ten ETFs by purchase amount on the same day also feature the Robot ETF and Hong Kong Innovative Medicine ETF, highlighting significant investment flows into these funds [3] Group 3 - The data for the top bought stocks/ETFs is based on the frequency of purchases by all participating advisors, while the purchase amount data reflects the total investment amounts in these stocks/ETFs [4] - The competition includes a performance evaluation segment divided into stock simulation, on-site ETF simulation, and public fund simulation groups, with specific trading rules regarding holding proportions, maximum drawdown, and rebalancing frequency [4]

Market Performance - The A-share market saw a significant increase, with the Shanghai Composite Index rising by 1.24%, the Shenzhen Component Index by 3.89%, and the ChiNext Index by 6.55% on September 5, 2025, with a total trading volume of 230.47 billion yuan [1] ETF Performance - The top-performing ETFs included the ChiNext New Energy ETF from Guotai, which increased by 10.98%, followed closely by other new energy ETFs, all showing gains exceeding 10% [1] - The banking sector experienced a decline, with several bank ETFs showing negative performance, such as the 30-Year Treasury ETF from Bosera, which fell by 1.04% [3] Renewable Energy Sector - From January to July 2025, China's renewable energy installed capacity increased by 283 million kilowatts, reaching a total of 2.171 billion kilowatts, accounting for nearly 60% of the national total [2] - The domestic energy storage industry is nearing the end of price competition, with prices for storage batteries beginning to rise, indicating a shift towards market-driven demand [2] ETF Trading Activity - The Short-term Bond ETF had the highest trading volume at 30.739 billion yuan, followed by the Silver Huayi Daily ETF and Convertible Bond ETF [4] - The turnover rate for the South Korea Semiconductor ETF was the highest at 297.5%, indicating strong trading activity [5] Upcoming ETF Products - Two new ETFs, the Agricultural and Fishery ETF and the Sci-Tech 200 ETF, are set to begin fundraising on September 8, 2025, tracking the CSI Agricultural and Fishery Index and the SSE Sci-Tech 200 Index, respectively [6][7] - The ChiNext 50 ETF is scheduled to be listed on September 8, 2025, closely tracking the ChiNext 50 Index, appealing to investors interested in long-term capital appreciation in the technology sector [7]