Market Performance - The Shanghai Composite Index rose by 1.19%, the Shenzhen Component Index increased by 2.4%, and the ChiNext Index surged by 3.39% [1] - The total market turnover reached 1.814 trillion yuan, an increase of 65.9 billion yuan compared to the previous day [1] Sector Highlights - Energy metals showed strong performance, with lithium mining leading the gains [1] - Computing hardware stocks saw a resurgence in the afternoon, particularly in the CPO and server sectors [1] - Brokerage, insurance, and aviation sectors had notable gains [1] - Commercial aerospace and Hainan Free Trade Zone themes experienced significant pullbacks [1] ETF Performance - The AI hardware sector rebounded strongly, with the Cathay Communications ETF, E Fund Growth ETF, and Southern ChiNext AI ETF all rising over 5% [1] - The rare metals sector also saw gains, with GF Fund Rare Metals ETF and Harvest Fund Rare Metals ETF increasing by 4.38% and 4.3%, respectively [1] - Two Brazilian ETFs fell by over 3% [1] - The satellite sector declined, with both the Aerospace ETF and General Aviation ETF dropping by more than 1% [1] - Crude oil futures decreased, leading to a 1.27% drop in the S&P Oil & Gas ETF [1]

（文章来源：每日经济新闻） 根据wind数据，创业板人工智能ETF国泰（159388）盘中流入2900万份，盘中净流入800万份，资金抢 筹布局。 粤开证券表示，2026年A股市场将在科技突破、产业驱动、制度改革等因素推动下继续呈现牛市态势， 预计一季度有望重回上行通道，开启一轮长期"慢牛"行情。支撑牛市的主要因素包括宏观政策改善、产 业转型加快、资本市场改革深化、资金持续流入以及海外干扰因素减弱。 ...

创业板人工智能ETF国泰（159388）跟踪的是创业板人工智能指数（970070），单日涨跌幅达 20%，该指数从创业板市场中选取涉及人工智能技术开发与应用的企业证券作为指数样本，覆盖软硬件 研发、智能系统集成及相关服务等领域，以反映创业板市场内AI相关上市公司证券的整体表现。行业 配置上，该指数侧重信息技术和智能制造方向。 【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 每日经济新闻 兴业证券指出，AI互连推动通信行业高景气，Credo公司FY26 Q2收入同比+272%、环比+20%，主 要由AI数据中心互连快速放量驱动，毛利率维持67.7%的行业领先水平。DCI需求爆发叠加成本上涨， 驱动相干光模块陶瓷管壳开启涨价，成为又一紧缺环节；伴随800G、1.6T光模块放量，数据中心光模 块陶瓷基板业务有望爆发式增长。AI集群规模扩大带动核心客户BOM份额持续提升，客户粘性显著增 强。 （责任编辑：张晓波 ...

Group 1 - The ETF market showed mixed performance at midday on December 9, with 5G50ETF (159811) leading gains at 3.48% [1][3] - 5GETF (159994) increased by 3.41%, while the Huashan AI ETF (159279) rose by 3.39% [1][3] - The worst performers included the Nonferrous 50 ETF (159652), which fell by 2.86%, and the Gold Stock ETF (517520) and Gold Stocks ETF (517400), which dropped by 2.78% and 2.75% respectively [1][3] Group 2 - The top gainers in the ETF market included Communication ETF (515880) with a rise of 3.37%, and several other AI ETFs, such as Guotai (159388) and Southern (159382), which increased by 3.33% and 3.32% respectively [2][4] - The decline in the Nonferrous 50 ETF (159652) was notable, alongside other gold-related ETFs, indicating a potential shift in investor sentiment towards these sectors [2][4]

（文章来源：每日经济新闻） 广发证券表示，海外科技厂商太空算力布局加速，太空有望成为AI计算规模化最佳场所。根据央视新 闻频道，今年11月2日，英伟达携手其投资的初创公司Starcloud，通过SpaceX的猎鹰9号火箭，成功将首 个搭载H100的太空AI服务器送入轨道，展开为期三年的测试任务，标志着"太空算力"正式进入AI时 代。Starcloud认为，太空数据中心将使能源成本降低10倍，并减少地球对能源消耗需求。11月4日，马 斯克表示将扩大星链V3卫星规模，建设太空数据中心，目标在4-5年通过星舰完成每年100GW的数据中 心部署。谷歌在11月5日宣布启动"捕日者计划"，计划在2027年初发射两颗搭载Trillium代TPU的原型卫 星，将AI算力直接部署到太空。谷歌高管称："未来太空或许将是实现人工智能计算规模化的最佳场 所。" 消息面，北京拟在700-800公里晨昏轨道建设运营超过千兆瓦功率的集中式大型数据中心系统，以实现 将大规模AI算力搬上太空。 创业板人工智能ETF国泰（159388）跟踪的是创业板人工智能指数（970070），单日涨跌幅达20%，该 指数从创业板市场中选取涉及人工智能技术及相 ...

Market Overview - The A-share market experienced a decline across the board, with the Shanghai Composite Index falling by 0.46% to close at 3972.03, the Shenzhen Component Index down by 0.11% at 13202.00, and the ChiNext Index decreasing by 0.20% to 3105.20 [1][2] - The total trading volume in the Shanghai and Shenzhen markets was 19,303 billion, a decrease of 501 billion from the previous day [1] Sector Performance - The military, energy metals, and Fujian sectors showed gains, while precious metals and photovoltaic sectors underwent adjustments [1] - The rare metals sector led the gains, with ETFs such as the Jiashi Fund Rare Metals ETF and the Guangfa Fund Rare Metals ETF both rising by 3.6% [3] - The software sector also performed well, with the Huazhang Fund Software ETF and the Southern Computer ETF increasing by 2.56% and 2.42%, respectively [3] - AI hardware stocks rebounded, with various AI ETFs rising by 2.2% [3] - Conversely, the innovative drug sector declined, with the Guotai and Huitianfu ETFs dropping by 2.7% and 2.58% [3] - Gold stocks experienced a broad pullback, with gold stock ETFs falling by 2.57% and 2.4% [3]

Market Performance - The Shanghai Composite Index fell by 0.97%, closing below the 4000-point mark after briefly turning positive during the day, marking a new 10-year high [1] - The ChiNext Index dropped by 2.82%, indicating a significant decline in the growth sector [1] Sector Performance - The computing and semiconductor industry chain led the decline, with storage chips, HBM, CPO, and advanced packaging showing the largest drops [1] - The chemical and non-ferrous metal sectors also experienced a pullback [1] - Conversely, the oil and gas sector showed resilience, with oil and gas ETFs from Bosera, Huatai-PineBridge, and Yinhua rising by 2%, 1.68%, and 1.48% respectively [1] - The new energy sector on the Sci-Tech Innovation Board rose against the trend, with ETFs from Fortune and E Fund both increasing by 1% [1] ETF Performance - The technology sector faced widespread declines, with the Hang Seng Internet ETF and the Guotai AI ETF falling by 3.66% and 3.64% respectively [1] - The semiconductor sector was particularly weak, with the China-Korea Semiconductor ETF and the Chip ETF dropping by 4.45% and 3.55% respectively [1]

Market Overview - A-shares experienced a collective pullback with the Shanghai Composite Index down by 0.97%, Shenzhen Component down by 1.93%, and ChiNext down by 2.82% on November 14, 2025, with a total trading volume of 1,958.1 billion yuan [1] ETF Performance - Oil and gas-related ETFs led the gains, with the top performers including: - Oil and Gas ETF Bosera (561760) up by 2.02% - Oil and Gas Resource ETF (159309) up by 1.68% - Oil and Gas Resource ETF (263150) up by 1.48% [2] - Conversely, the top decliners included: - Sino-Korea Semiconductor ETF (513310) down by 4.45% - Hang Seng Internet ETF (159688) down by 3.66% - ChiNext AI ETF Guotai (159388) down by 3.64% [4] Sector Insights - Guolian Minsheng Securities noted that OPEC+ unexpected production increases and U.S. tariffs are pressuring oil prices, but a slowdown in U.S. oil and gas production growth may provide fundamental support. The focus remains on leading oil and gas central enterprises with quality upstream assets and high dividends [3] - The current investment strategy is diversified, emphasizing "anti-involution," domestic demand, and emerging industries. The traditional cyclical chemical sector is expected to see improvements as excess capacity is gradually eliminated [3] A-share Strategy Outlook - Guoxin Securities projected that the bull market initiated in 2024 is not over, entering its second phase with a shift from sentiment to fundamentals. The focus for 2026 will be on technology, particularly in AI applications, robotics, and smart driving [5] - The market is expected to revolve around themes of technological self-reliance, industrial upgrades, and resource security, with opportunities in AI, semiconductors, and high-end manufacturing [5] ETF Trading Activity - The Short-term Bond ETF (511360) had the highest trading volume at 19.797 billion yuan, followed by Silver Hua Daily ETF (211880) at 12.553 billion yuan and Huabao Tianyi ETF (211990) at 11.818 billion yuan [6][7] - The National Debt Policy Bond ETF (511580) led in turnover rate at 275%, indicating high trading activity [7] New ETF Launch - A new QDII product, the Hang Seng Technology ETF Southern (520570), will be launched next Monday, tracking the Hang Seng Technology Index. It is suitable for investors optimistic about China's long-term tech development [8]

Group 1 - The core viewpoint indicates a decline in the AI concept stocks on the ChiNext board, with Tianfu Communication dropping over 8%, Zhongji Xuchuang falling over 4%, and Xinyi Sheng decreasing over 3% [1] - The ChiNext AI-related ETFs experienced a decline of approximately 3% [1] - Specific ETF performance includes: Guotai ETF down 3.21% to 1.716, Nanfang ETF down 3.17% to 1.800, and Dacheng ETF down 3.01% to 1.417 [2] Group 2 - Analysts suggest that the AI application ecosystem is becoming increasingly complete, with rapid penetration of large model technology in vertical fields such as finance, healthcare, and education, exceeding market expectations [2] - With increased policy support and accelerated domestic computing power construction, leading companies in the AI industry chain are expected to continue benefiting [2]

Core Viewpoint - The performance of various ETFs on October 29 shows mixed results, with some experiencing gains while others faced declines [1] ETF Performance Summary - The HuShen 300 ETF Ping An (510390) increased by 4.74% [1] - The ChiNext AI ETF Guotai (159388) rose by 2.55% [1] - The Communication ETF (515880) saw a gain of 2.19% [1] - The S&P Oil & Gas ETF (513350) decreased by 1.27% [1] - The S&P Oil & Gas ETF (159518) fell by 1.12% [1] - The Xinchuang ETF Yifangda (159540) declined by 0.93% [1]