01 12月17日，多只宽基ETF午后放量，中证A500ETF成交尤为活跃，沪深300ETF、创业板ETF、科创50ETF 等宽基ETF也有较大成交额，大资金抄底迹象明显。 02 广发基金基金经理夏浩洋表示，科技板块，特别是AI，泡沫化论调不会消失，并还将反复。但整体来看， AI产业高度景气且蓬勃发展，对于明年在应用和端侧的突破仍持乐观态度。 | 代码 | 简称 | 活情 | 近一个月涨幅 | | --- | --- | --- | --- | | | | (%) | (%) | | 515880 | 通信ETF | 5.56 | 16.34 | | 159259 | 成长ETF | 5.28 | 7.62 | | 159382 | 创业板人工智能ETF南方 | 5.19 | 15.52 | | 159388 | 创业板人工智能ETF国泰 | 5.10 | 66'ST | | 159242 | 创业板人工智能ETF大成 | 5.09 | 15.77 | | 159363 | 创业板人工智能ETF华宝 | 5.00 | 15.55 | | TE9E83 | 通信设备ETF | 5.00 | 20.16 | | ...

（责任编辑：刘畅 ） 上证指数收涨1.19%，深证成指涨2.4%，创业板指涨3.39%，全市场成交额18140亿元，较上日成交 额放量659亿元。能源金属全天强势，锂矿方向领涨；算力硬件概念股午后崛起，CPO、服务器方向反 复活跃；券商、保险、航空板块涨幅居前。商业航天、海南自贸区题材回调明显。 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com ETF方面，AI硬件板块强势反攻，国泰基金通信ETF、易方达成长ETF、创业板人工智能ETF南方 和创业板人工智能ETF国泰涨超5%。稀有金属板块走高，广发基金稀有金属ETF、嘉实基金稀有金属 ETF分别涨4.38%和4.3%。 两只巴西ETF跌超3%。卫星板块走低，航空航天ETF、通用航空ETF基金均跌逾1%。原油期货走 低，标普油气ETF跌1.27%。 ...

市场午后大幅反弹，沪指涨超1%，创业板指涨超3%。从板块来看，算力硬件概念表现活跃，锂电产业链走强，大金融方向午后发力；下跌方面，福建板块 下挫。 下跌方面，巴西ETF跌超3%，航天相关ETF跌约1%。 ETF涨跌幅方面，通信、人工智能相关ETF涨超5%。 | 代码 | 名称 | 现价 | - 涨跌幅 | | --- | --- | --- | --- | | 515880.SH | 通信ETF | 2.983 | 5.56% | | 159259.SZ | 成长ETF | 1.017 | 5.28% | | 159382.SZ | 创业板人工智能ETF南方 2.069 | | 5.19% | | 159388.SZ | 创业板人工智能ETF国泰 | 1.98 | 5.1% | | 159242.SZ 创业板人工智能ETF大成 | | | 1.63 - 5.09% | | 159363.SZ | 创业板人工智能ETF华宝 0.966 | | 5% | | 159583.SZ | 通信设备ETF | 1.24 | 5% | | 159246.SZ | 创业板人工智能ETF富国 | 1.821 | 4.96% | ...

来源：上海证券报·中国证券网 上证报中国证券网讯 12月9日，ETF午间收盘涨跌不一，5G50ETF（159811）领涨3.48%，5GETF （159994）涨3.41%，创业板人工智能ETF华安（159279）涨3.39%，有色50ETF（159652）领跌 2.86%，黄金股ETF（517520）跌2.78%，黄金股票ETF（517400）跌2.75%。 上证报中国证券网讯 12月9日，ETF午间收盘涨跌不一，5G50ETF（159811）领涨3.48%，5GETF （159994）涨3.41%，创业板人工智能ETF华安（159279）涨3.39%，有色50ETF（159652）领跌 2.86%，黄金股ETF（517520）跌2.78%，黄金股票ETF（517400）跌2.75%。 | 代码 | 名称 | | 涨幅% T | | --- | --- | --- | --- | | 159811 | 5G50ETF | 2.257 | 3.48 | | 159994 | 5GETF | 1.848 | 3.41 | | 159279 | 创业板人工智能ETF华安 | 1.127 | 3.39 | | 51 ...

Market Overview - The market has experienced increased volatility, with fixed income plus funds regaining focus as a key marketing product [1] - On November 26, A-shares showed mixed performance, with the Shanghai Composite Index closing down 0.15% at 3864.18 points, while the Shenzhen Component Index rose 1.02% to 12907.83 points, and the ChiNext Index increased by 2.14% to 3044.69 points [1] Fund News - On November 26, four new funds were launched, primarily bond and mixed funds, with 30 funds distributing dividends, the highest being 9.00 CNY per 10 shares for the Guotai Nasdaq 100 Index Fund [2] - Over the past three months, the Shanghai Composite Index fluctuated between 3800 and 4000 points, leading to investor sentiment swinging with the index [2] - Hong Kong stocks have been oscillating at high levels, with a net outflow of 3.95 billion HKD on the same day, ending an eight-day buying streak, but the cumulative net inflow for the year has reached 1.38 trillion HKD [2] ETF Insights - On November 26, the CPO concept stocks surged, with the Southern AI ETF rising by 5.06%, and Zhongji Xuchuang increasing by over 13.25% [3] - The Hong Kong Internet ETF rose by 0.74%, with Meituan shares increasing by 5.65% following Alibaba's Q2 FY2026 earnings report, which exceeded market expectations with revenues of 247.795 billion CNY, a 15% year-on-year growth after excluding sold businesses [3] Fund Performance - On November 26, the best-performing fund was the Hongtu Innovation Technology Innovation Stock (LOF) with a daily growth rate of 5.8721% [6] - The top-performing stock fund was Hongtu Innovation New Technology Stock C with a daily growth rate of 5.8359%, while the top bond fund was Jingshun Great Wall Jingyifengli Bond F with a growth rate of 0.7194% [6][7]

Core Viewpoint - The launch of Huawei's Flex:ai technology is expected to significantly enhance AI computing efficiency and drive growth in the AI sector, supported by favorable government policies and increasing investor interest in Chinese tech stocks [1][2][3]. Group 1: Market Performance - As of November 25, 2025, the Southern AI ETF (159382) rose by 4.19%, with a trading volume of 30.83 million yuan [1]. - The underlying index, the Southern AI Index, increased by 4.44%, with notable gains from constituent stocks such as Changxin Bochuang (up 14.31%) and Guangku Technology (up 13.39%) [1]. - Over the past five trading days, the Southern AI ETF has seen a net inflow of 496 million yuan [1]. Group 2: Technological Developments - Huawei's Flex:ai technology, introduced at the AI container application forum, aims to improve the average utilization rate of computing resources, which currently stands at only 30% to 40% [1]. - Flex:ai utilizes a Kubernetes-based platform to create a pool of virtual computing units from a single GPU/NPU, allowing for more efficient workload management and a potential 30% increase in resource utilization [1]. Group 3: Policy Support - The Guangdong provincial government has launched a development plan for the digital economy, emphasizing the importance of AI and robotics innovation from 2025 to 2027 [2]. - The plan includes initiatives to support the development of general and specialized AI models and aims to establish a demonstration zone for AI applications, targeting a core industry scale of over 440 billion yuan by 2027 [2]. Group 4: Investment Sentiment - Goldman Sachs has indicated that the rise of AI-driven Chinese stocks is not a bubble, as there remains significant potential for tech companies to enhance valuations and profitability through AI applications [3]. - There is a growing interest among global investors, particularly from emerging markets, in exploring investment opportunities within the Chinese market [3].

Core Viewpoint - The recent downturn in the A-share market has led to a significant inflow of funds into ETFs, indicating a "buy the dip" mentality among investors despite the market's overall decline [2][6][10]. Market Performance - The A-share market experienced a substantial adjustment from November 17 to 21, with the Shanghai Composite Index falling over 3% and the ChiNext Index dropping more than 6%, marking the largest weekly decline in months [1][4][5]. - As of November 24, signs of stabilization were observed, with all three major indices showing slight increases and a total of 4,228 stocks rising [3]. Fund Inflows - A total net inflow of 701.21 billion yuan was recorded for stock ETFs and cross-border ETFs, with broad-based index ETFs attracting 359.31 billion yuan, highlighting a strong preference for these investment vehicles during market corrections [2][6]. - Specific ETFs such as the CSI 500 ETF, STAR 50 ETF, and ChiNext ETF were particularly favored, with net inflows of 64.29 billion yuan, 56.99 billion yuan, and 55.33 billion yuan, respectively [6]. Investment Trends - The current market adjustment is viewed as a normal correction, with many investors seizing the opportunity to buy into ETFs as a long-term strategy rather than short-term speculation [6][7]. - A notable trend of "high cutting low" has emerged, where funds are flowing out of high-valuation sectors like electronics and into more stable sectors such as banking and consumer goods [8][9]. Sector Preferences - Despite the overall market correction, there remains a strong interest in technology stocks, with significant inflows into sector-specific ETFs such as AI and robotics [9]. - The market is expected to see a shift towards undervalued assets with high dividend yields and positive fundamental outlooks as investors adjust their strategies [10].

Core Viewpoint - The recent A-share market has experienced significant adjustments, with major indices seeing substantial weekly declines, yet there is a notable influx of funds into ETFs, indicating a "buy the dip" mentality among investors [2][4]. Fund Flows and Market Trends - During the week of November 17-21, A-shares faced a major downturn, with the Shanghai Composite Index dropping over 3% and the ChiNext Index falling more than 6%, marking the largest single-week decline in months [2][4]. - Despite this downturn, a total of 701.21 billion yuan flowed into stock and cross-border ETFs, with broad index ETFs attracting 359.31 billion yuan, highlighting a strong interest in these investment vehicles [4][5]. - The trend of "buying the dip" is evident, as many investors are taking advantage of the market correction to enter positions in ETFs [5][8]. Sector Preferences - The most favored ETFs during this period include the CSI 500 ETF, STAR 50 ETF, and ChiNext ETF, with net inflows of 64.29 billion yuan, 56.99 billion yuan, and 55.33 billion yuan, respectively [5][8]. - There is a clear shift in fund flows, with significant outflows from high-valuation sectors such as electronics and technology, while sectors like banking and consumer goods are gaining attention due to their relative stability and lower valuations [7][8]. Investment Strategies - Analysts suggest that the current market environment calls for a balanced investment approach, focusing on undervalued assets and sectors with strong fundamentals, such as AI, chips, robotics, and innovative pharmaceuticals [9]. - The recommendation for investors is to diversify their portfolios and consider stocks that have not seen significant price increases, rather than concentrating on high-flying tech stocks [9].

Core Insights - The total net inflow into stock ETFs reached 40.755 billion yuan on November 21, with significant contributions from various ETFs [1] - Despite a market pullback, stock ETFs saw a total net inflow of 70.121 billion yuan this week, indicating strong buying interest [1] Group 1: ETF Performance - The CSI 500 ETF had a net inflow exceeding 5.7 billion yuan this week [1] - The ChiNext ETF and CSI 300 ETF each saw net inflows of over 4 billion yuan [1] - The Sci-Tech 50 ETF and Hang Seng Tech Index ETF had net inflows exceeding 3 billion yuan [1] Group 2: Additional ETF Inflows - The CSI 1000 ETF, Hang Seng Tech ETF, Shanghai Composite Index ETF, and Hang Seng Internet ETF each recorded net inflows exceeding 2 billion yuan [1] - Several other ETFs, including the CSI 1000 ETF, China Concept Internet ETF, and various sector-specific ETFs, had net inflows exceeding 1 billion yuan [1][2]

Group 1 - The core viewpoint of the article highlights that over 70 billion yuan has flowed into ETFs as investors seek to capitalize on market dips, particularly favoring sectors like artificial intelligence and robotics while selling off banking and chemical-related ETFs [1][10][11] Group 2 - In the past week, the total trading volume of the Shanghai and Shenzhen stock markets reached 9.23 trillion yuan, with the Shanghai index closing at 3,834.89 points, down 3.9%, and the Shenzhen index at 12,538.07 points, down 5.13% [2][12] - The net inflow into stock ETFs and cross-border ETFs amounted to 701.21 billion yuan, with broad-based index ETFs seeing a net inflow of 359 billion yuan [2][5] - The major broad-based index ETFs experienced a total net inflow of 223.26 billion yuan, with the CSI 500 ETF alone seeing a net inflow of 57.78 billion yuan [8][9] Group 3 - In terms of sector-specific ETFs, 48 funds saw net inflows exceeding 100 million yuan, with the Southern AI ETF, robotics ETF, and medical ETF attracting significant investments of 13.96 billion yuan, 13.46 billion yuan, and 9.11 billion yuan respectively [10][11] - Conversely, 20 sector-specific ETFs experienced net outflows exceeding 100 million yuan, with banking, chemical, and coal ETFs seeing reductions of 16.08 billion shares, 12.37 billion shares, and 7.75 billion shares respectively [10][11] Group 4 - The Southern AI ETF has seen its shares surpass 2 billion, marking a new high since its listing, driven by the rapid development of the artificial intelligence sector [10][11] - The robotics ETF has also reached a new high with over 25.3 billion shares, as the industry anticipates a significant growth cycle over the next decade [11] Group 5 - A total of 22 ETFs had trading volumes exceeding 10 billion yuan during the week, indicating strong market activity [12] - Upcoming listings include 5 new ETFs tracking sectors such as chemicals, home appliances, and Hong Kong stocks, which may attract investor interest [14][15]