昨日（8月26日），A股三大指数结束连续上涨，走势出现分化。 当日，股票ETF（含跨境ETF，下同）规模进一步站稳4万亿元，单日净流入资金约135亿元。其中，行 业主题ETF和港股市场ETF净流入居前，宽基ETF净流出较多。 股票ETF单日净流入135亿元 Wind数据显示，截至8月26日，全市场1183只股票ETF总规模达4.21万亿元，站稳4万亿元。 当日，股票ETF成交额合计达2213.99亿元，与上一日相比减少900多亿元，降幅近30%。 就单只产品而言，化工ETF净流入14.35亿元，居单日资金净流入榜首位。此外，港股通创新药ETF、创 业板ETF净流入资金均超10亿元，位列第二和第三；港股通互联网ETF、港股通非银ETF、消费ETF均 净流入6亿元以上。 伴随着市场震荡缩量调整，股票ETF迎来资金大幅净申购。昨日，股票ETF市场总份额增加140.76亿 份，按照成交均价测算，当日净流入资金约为135.04亿元。 从近5日角度观测，近期资金流入证券公司指数超84亿元，细分化工指数超54亿元。 细分品类中，行业主题ETF与港股市场ETF净流入居前，分别达96.82亿元、68.08亿元。从指数维度 看， ...

【导读】昨日股票ETF市场净流入资金135亿元 昨日（8月26日），A股三大指数结束连续上涨，走势出现分化。 当日，股票ETF（含跨境ETF，下同）规模进一步站稳4万亿元，单日净流入资金约135亿元。其中，行业主题ETF和港股市场ETF净流入居前，宽基ETF净 流出较多。 股票ETF单日净流入135亿元 数据显示，截至8月26日，全市场1183只股票ETF总规模达4.21万亿元，站稳4万亿元。 当日，股票ETF成交额合计达2213.99亿元，与上一日相比减少900多亿元，降幅近30%。 伴随着市场震荡缩量调整，股票ETF迎来资金大幅净申购。昨日，股票ETF市场总份额增加140.76亿份，按照成交均价测算，当日净流入资金约为135.04 亿元。 细分品类中，行业主题ETF与港股市场ETF净流入居前，分别达96.82亿元、68.08亿元。从指数维度看，细分化工指数单日净流入居前，达16.39亿元。 就单只产品而言，化工ETF净流入14.35亿元，居单日资金净流入榜首位。此外，港股通创新药ETF、创业板ETF净流入资金均超10亿元，位列第二和第 三；港股通互联网ETF、港股通非银ETF、消费ETF均净流入6亿元以上 ...

一、ETF行业快讯 1.三大指数涨跌互现，多只农业板块ETF上涨 今日，三大指数涨跌互现，上证综指下跌0.39%，深证成指上涨0.26%，创业板指下跌0.76%。多只农业 板块ETF上涨，其中，农业ETF易方达（562900.SH）上涨2.94%，农业ETF（159825.SZ）上涨2.90%， 农业50ETF（516810.SH）上涨2.85%。电子板块多只ETF下跌，人工智能ETF科创（588760.SH）下跌 3.35%，科创芯片设计ETF（588780.SH）下跌3.10%，科创板人工智能ETF（588930.SH）下跌2.69%。 2.国内ETF规模突破5万亿元 据中国证券报，Wind数据显示，截至8月25日，境内ETF总规模首度突破5万亿元大关，创历史新高，达 到5.07万亿元。其中，股票型ETF、跨境ETF、债券型ETF、商品型ETF、货币型ETF最新规模分别为 3.46万亿元、7537.23亿元、5559.03亿元、1532.57亿元、1424.70亿元。 3.权益类ETF规模年内增长超24% 据证券日报，国内权益类ETF市场迎来里程碑时刻。Wind资讯数据显示，截至8月25日，全市场1188 ...

1. Report Industry Investment Rating - The report recommends a long position for macro and financial index futures, including IM, IC, IF, IH [1]. 2. Core View of the Report - The major indices of the two markets on Wednesday first declined and then rose, with the chip sector surging in the afternoon and the Shanghai Composite Index reaching a new high in this round. The trading volume of the two markets was 2.40 trillion yuan. The inflow of continuous funds will drive the stock market to maintain an upward trend [1][2]. 3. Summary by Relevant Catalogs 3.1 Market Review - The major indices of the two markets on Wednesday first declined and then rose, with the chip sector surging in the afternoon and the Shanghai Composite Index reaching a new high in this round. The trading volume of the two markets was 2.40 trillion yuan. The CSI 1000 Index closed at 7305 points, up 62 points or 0.86%; the CSI 500 Index closed at 6728 points, up 72 points or 1.09%; the SSE 300 Index closed at 4271 points, up 48 points or 1.14%; the SSE 50 Index closed at 2846 points, up 34 points or 1.23%. Among industry and theme ETFs, the top gainers were Science and Technology Innovation Chip ETF, Artificial Intelligence ETF Science and Technology Innovation, Chip 50 ETF, Science and Technology Innovation Information ETF, and Semiconductor Equipment ETF, while the top losers were Financial Technology ETF, Film and Television ETF, and Biological Vaccine ETF. Among the sector indices of the two markets, the top gainers were commercial vehicles, chemical fibers, semiconductors, hotel and catering, and optical and optoelectronic indices, while the top losers were navigation equipment, ground military equipment, radio and television, film and television theater chains, and CXO concept indices. The settlement funds of CSI 1000, SSE 300, CSI 500, and SSE 50 index futures had net inflows of 9.9 billion, 3.6 billion, 3.4 billion, and 0.8 billion yuan respectively [1]. 3.2 Important Information - Among the 31 Shenwan primary industries, 28 have risen overall this year. The top five gainers are the communication, non-ferrous metals, pharmaceutical and biological, machinery and equipment, and comprehensive industries, with annual increases of over 20%. The communication and non-ferrous metals industries have both increased by over 30% [1]. - As of the close on August 18, among the 5424 A-share stocks, 4514 have risen overall this year, accounting for 83%. 360 stocks have doubled this year, accounting for 6.6% [1]. - Overseas capacity construction has shifted its focus to equipment procurement. The imports of production equipment such as milling machines and grinding machines in the US, India, Malaysia, etc. have significantly increased since the second half of 2024, and the imports of generators and transformers are also picking up [1]. - Wall Street traders are buying a large number of "disaster puts" on the Invesco QQQ Trust Series 1 ETF that tracks the Nasdaq 100 Index, seemingly worried about a repeat of the sell-off in April [1]. - A MIT report states that "95% of organizations have received zero returns on their generative AI investments," combined with a bubble warning from OpenAI CEO Sam Altman, causing investors to flee high-momentum technology stocks and move to defensive sectors [1]. - Japan's export data for July reflects the continuous impact of tariffs. Japan's exports of automobiles and parts to the US decreased by 28.4% and 17.4% respectively, and exports of semiconductor manufacturing equipment decreased by 31.3%. Economists warn that Japan may fall into a recession [2]. - The US government has quietly expanded the scope of steel and aluminum tariffs, adding over 400 product categories with a 50% tariff rate, which will add more cost-push inflation pressure [2]. - The US Commerce Secretary is exploring how to obtain more equity in major chip manufacturers through the Chip Act funds. If the equity-for-subsidy model is fully implemented, the US government will become an important shareholder in major global chip manufacturers [2]. 3.3 Market Logic - The major indices of the two markets on Wednesday first declined and then rose, with the chip sector surging in the afternoon and the Shanghai Composite Index reaching a new high in this round. Hedge funds' net purchases of Chinese stocks last week reached the highest in seven weeks, making China the market with the largest net capital inflow on the Goldman Sachs platform since August [1][2]. 3.4 Future Market Outlook - The major indices of the two markets on Wednesday first declined and then rose, with the chip sector surging in the afternoon and the Shanghai Composite Index reaching a new high in this round. As of the close on August 18, among the 5424 A-share stocks, 4514 have risen overall this year, accounting for 83%. 360 stocks have doubled this year, accounting for 6.6%. Hedge funds' net purchases of Chinese stocks last week reached the highest in seven weeks, making China the market with the largest net capital inflow on the Goldman Sachs platform since August. Goldman Sachs believes that China's humanoid robot industry is undergoing product iterations at an astonishing speed, and the commercialization path is becoming increasingly clear. The chief strategist of Bank of America believes that the Fed may deal with debt through currency depreciation, making shorting the US dollar the core investment theme. Gold, cryptocurrencies, commodities, and emerging markets will be the biggest winners. The probability of a Fed rate cut in September has risen to 100%. The "de-Americanization" of global financial asset reallocation is expected to accelerate the inflow of international funds into the A-share market. The short-term technical index correction has ended, and the major indices of the two markets have entered an upward phase again. Continuous capital inflows will drive the stock market to maintain an upward trend [1][2]. 3.5 Trading Strategy - For index futures directional trading, the short-term technical index correction has ended, and the major indices of the two markets have entered an upward phase again. Continuous capital inflows will drive the stock market to maintain an upward trend [2]. - For index option trading, with continuous capital inflows, investors can choose to buy out-of-the-money long-term call options on growth index futures [3].

今日，2025世界人工智能大会暨人工智能全球治理高级别会议在浦东世博中心、世博展览馆、徐汇西岸 等地同步启幕。大会展览吸引800余家企业参展，其中市外及国际企业占比超50%。3000余项前沿展品 将集中亮相，涵盖40余款大模型、50余款AI终端产品、60余款智能机器人以及100余款"全球首发"、"中 国首秀"的重磅新品，规模创历届之最。最为重要的是，此次大会有重要高层出席并讲话。 场内ETF方面，截至2025年7月25日收盘，上证科创板人工智能指数(950180)强势上涨4.29%，成分股寒 武纪(688256)上涨12.17%，云从科技(688327)上涨11.13%，恒玄科技(688608)上涨7.88%，芯原股份 (688521)，虹软科技(688088)等个股跟涨。人工智能ETF科创(588760)收涨3.72%， 实现3连涨。拉长时 间看，截至收盘，人工智能ETF科创本周累计上涨5.03%。 流动性方面，截至2025年7月25日收盘，人工智能ETF科创全天换手19.26%，成交2.70亿元，市场交投 活跃。规模方面，人工智能ETF科创近1周规模增长1259.42万元。份额方面，人工智能ETF科创近1 ...

Market Overview - A-shares experienced steady growth in the first half of the week, followed by an overall adjustment in the latter half, with May CPI showing a month-on-month decline [1] - The three major indices had mixed performances, with the Shanghai Composite Index and Shenzhen Component Index down by 0.25% and 0.60% respectively, while the ChiNext Index rose by 0.22% [1] - Global uncertainty has led to increased interest in defensive assets, with high-dividend assets maintaining significant allocation value [1] ETF Performance - The top-performing ETFs this week included several related to innovative pharmaceuticals, with notable gains exceeding 10% for multiple funds [2] - Conversely, consumption and technology-related ETFs saw significant declines, with the top losers experiencing drops of over 4% [4][5] Investment Trends - China's share of global business development (BD) transactions has surged from 5% in 2021 to 42% by May 2025, indicating a growing international recognition of Chinese innovative pharmaceuticals [3] - Major transactions, such as the $60 billion collaboration between Heng Rui Medicine and Hercules, highlight the increasing trend of Chinese companies entering international markets [3] Fund Flows - The ETF market saw a net outflow of 43.36 billion yuan, with a notable preference for conservative investments, particularly in bond ETFs [6][8] - The top inflows were seen in bond ETFs, with the Credit Bond ETF leading with an inflow of over 30 billion yuan [8] Upcoming ETFs - Four new ETFs are set to launch next week, including the Changcheng CSI Dividend Low Volatility 100 ETF, which aims to provide a combination of high dividends and low volatility [10] - The Tianhong CSI A500 Enhanced Strategy ETF is also highlighted for its strong historical performance and potential for superior returns through active management [12]

ETF Industry News - Major indices showed mixed performance with the Shanghai Composite Index down 0.23%, Shenzhen Component Index up 0.51%, and ChiNext Index up 0.83. Multiple AI sector ETFs saw significant gains, including Huabao's AI ETF (589520.SH) up 4.30%, Kexin AI ETF (588760.SH) up 4.26%, and Kexin AI ETF (588730.SH) up 4.21% [1][2] - The World Gold Council reported that China's gold ETF holdings reached a historical high in Q1 2025, with inflows of approximately 16.7 billion yuan (about 2.3 billion USD, equivalent to 23 tons). The total assets under management (AUM) for gold ETFs in China surpassed 101 billion yuan (approximately 13.9 billion USD), with total holdings reaching 138 tons. However, overall gold consumption in China fell by 15% year-on-year to 249 tons, primarily due to weak demand for gold jewelry [1] Market Overview - The A-share market and major overseas indices displayed varied performance on April 30, with the Shanghai Composite Index closing at 3279.03 points, the Shenzhen Component Index at 9899.82 points, and the ChiNext Index at 1948.03 points. The highest intraday points were 3292.2, 9925.87, and 1954.62 respectively [2] - In terms of sector performance, the computer, automotive, and media sectors led the day with gains of 2.33%, 1.59%, and 1.39% respectively. Conversely, the banking, steel, and building materials sectors lagged with declines of 2.09%, 1.35%, and 0.82% respectively [4] ETF Market Performance - The overall ETF market showed varied performance across different categories. The average gain for thematic stock ETFs was 0.83%, while strategy stock ETFs had the lowest average performance at -0.68% [6] - The top-performing ETFs included Huabao's AI ETF (589520.SH) with a daily gain of 4.30%, Kexin AI ETF (588760.SH) with 4.26%, and Kexin AI ETF (588730.SH) with 4.21% [9][10] Trading Volume - The top three ETFs by trading volume were the Southern CSI A500 ETF (159352.SZ) with 2.621 billion yuan, A500 ETF (512050.SH) with 2.428 billion yuan, and the CSI A500 ETF (159338.SZ) with 2.169 billion yuan [12][13]

Group 1 - The core viewpoint of the article highlights the mixed performance of ETFs, with the technology-focused ETFs, particularly those related to artificial intelligence, showing significant gains while bank ETFs experienced declines [1] Group 2 - The Huabao Sci-Tech Artificial Intelligence ETF (589520) led the gains with an increase of 4.30% [1] - The Sci-Tech Artificial Intelligence ETF (588760) rose by 4.26% [1] - The Sci-Tech Artificial Intelligence ETF (588730) saw an increase of 4.21% [1] - Bank ETFs, including the Bank ETF (512800), led the declines with a drop of 2.19% [1] - The Bank ETF Index Fund (516210) fell by 2.12% [1] - The Southern Bank ETF (512700) decreased by 2.11% [1] - A new opportunity is presented for investors as A-share accounts can directly purchase Sci-Tech board stocks without the need for a 500,000 yuan threshold [1]

Group 1 - A-shares in AI applications, medical devices, and software services saw significant gains, particularly Huawei concept stocks and AI-related companies [1] - Notable stock performances included Creative Information hitting a 20% limit up, while Tianyuan Dike rose over 11% [1] - Various ETFs related to AI and software also experienced upward movement, with notable increases in their values [1] Group 2 - The top-performing ETFs included the AI ETF from GF Fund with a 3.33% increase and the AI ETF from Bosera Fund with a 3.32% increase [3] - The largest ETF by scale in the software category is the GF Fund Software ETF, which closed at 2.861 billion yuan [5][7] - The software index and software development indices have similar top-weighted stocks, but their performance varies due to different weight distributions [8] Group 3 - The upcoming Huawei Developer Conference is scheduled for June 20-22, 2025, which may showcase the latest version of HarmonyOS [5] - The Sci-Tech Innovation AI Index selects 30 large-cap companies from the Sci-Tech Innovation Board that provide foundational resources and technology for AI [12] - The management fees for the AI-themed ETFs are consistently set at 0.5% [10]

无需50万，A股账户就能直接买科创板>> ETF午间收盘涨跌不一，人工智能ETF科创(588760)领涨3.33%，科创AIETF(588790)涨3.32%，科创板人 工智能ETF(588930)涨3.29%，银行ETF龙头(512820)领跌2.42%，银行ETF(512800)跌2.38%，银行ETF天 弘(515290)跌2.38%。 ...