【导读】落袋为安！股票ETF再现超200亿元单日净流出 伴随着近期市场企稳回升，上证指数从3800点附近上涨至接近3900点，有着"逆市风向标"之称的股票ETF资金落袋为安情绪明显。 银河证券基金研究中心数据显示，11月26日，全市场股票ETF（含跨境ETF）资金净流出超200亿元，为今年2月12日以来最大单日净流出。 市场资金继续流向债券ETF、自由现金流ETF、红利ETF等偏防御的产品，跟踪创业板指数、沪深300指数、中证500指数、科创50指数的宽基ETF遭遇资 金净流出。 股票ETF单日净流出超200亿元 11月26日，市场企稳反弹，部分资金选择"落袋为安"。银河证券基金研究中心数据显示，截至11月26日，全市场1266只股票ETF（含跨境ETF）总规模达 4.33万亿元。在昨日股市上涨行情中，股票ETF市场总份额减少115.58亿份，按照区间成交均价测算，净流出资金达到211.82亿元，过去两日净流出金额超 380亿元。 从大类型来看，策略风格ETF与商品ETF资金净流入居前，分别净流入10.14亿元与4.09亿元；宽基ETF资金净流出达151.11亿元。规模变化方面，债券ETF 规模下降31.68 ...

【导读】 落袋为安！股票ETF再现超200亿元单日净流出 中国基金报记者 若晖 伴随着近期市场企稳回升，上证指数从3800点附近上涨至接近3900点，有着"逆市风向标"之称的股票 ETF资金落袋为安情绪明显。 银河证券基金研究中心数据显示，11月26日，全市场股票ETF（含跨境ETF）资金净流出超 200亿元，为今年2月12日以来最大单日净流出。 市场资金继续流向债券ETF、自由现金流ETF、红利ETF等偏防御的产品，跟踪创业板指数、 沪深300指数、中证500指数、科创50指数的宽基ETF遭遇资金净流出。 股票ETF单日净流出超200亿元 11月26日，市场企稳反弹，部分资金选择"落袋为安"。银河证券基金研究中心数据显示，截 至11月26日，全市场1266只股票ETF（含跨境ETF）总规模达4.33万亿元。在昨日股市上涨 行情中，股票ETF市场总份额减少115.58亿份，按照区间成交均价测算，净流出资金达到 211.82亿元，过去两日净流出金额超380亿元。 从大类型来看，策略风格ETF与商品ETF资金净流入居前，分别净流入10.14亿元与4.09亿 元；宽基ETF资金净流出达151.11亿元。规模变化方面 ...

科创板50ETF（588080）、创业板ETF（159915）规模分别在以上指数相关产品中居前，且管理费 率仅为0.15%/年，可助力投资者低成本布局科技创新龙头企业。 （责任编辑：张晓波 ） 科创板50指数由科创板中市值大、流动性好的50只股票组成，半导体行业占比超65%，"硬科技"龙 头特征突出；创业板指数则由创业板中市值大、流动性好的100只股票组成，AI硬件与新能源产业链合 计占比约60%，战略性新兴产业含量高。 【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 今日早盘，A股科技方向再度领涨。盘面上，固态电池、先进封装、半导体、CPO、存储芯片等热 门科技概念集体拉升，带动两创板块相关指数走强。截至10:05，科创板50指数上涨2.4%，创业板指数 上涨2.1%。 每日经济新闻 国信证券表示，中期来看，在全球科技投资热情不减、"反内卷"政策持续推进、居民储蓄入市等因 素支撑下，本轮慢牛行情的根基并 ...

Core Insights - The STAR Market and ChiNext have been the standout performers in the A-share market this year, with the STAR 50 Index and ChiNext Index rising by 37.3% and 43.3% respectively as of November 18 [1] Group 1: Market Positioning and Focus - The STAR Market focuses on "hard technology" companies, emphasizing R&D-driven innovation and allowing unprofitable firms with high technical barriers to go public, while ChiNext serves "growth-oriented innovative enterprises" supporting high-tech and traditional industry upgrades [2] - The industry distribution on the STAR Market is more concentrated, with electronics and biomedicine making up 25% and 19% of companies respectively, while the ChiNext has a more diversified industry coverage [2] Group 2: Performance and Investment Timing - The STAR Market tends to show significant performance elasticity during hard technology breakthrough cycles, while ChiNext benefits from a dual-driven model of "new energy + technology" during periods of strong demand in sectors like energy storage and technology upgrades [4] - The STAR Market is more likely to benefit from policies promoting "hard technology" and domestic self-sufficiency, while ChiNext performs better during supply-side reforms and breakthroughs in technologies like solid-state batteries [4] Group 3: Market Sentiment and Trading Activity - The STAR Market typically outperforms during periods of rising risk appetite, such as when the Federal Reserve signals interest rate cuts, while ChiNext has higher trading activity, with an average turnover rate of 5.7% compared to the STAR Market's 3.2% [5] - In periods of high market liquidity, ChiNext's sectors like new energy and electronics are more likely to generate a "wealth effect," driving index growth [5] Group 4: Investment Strategies - Investors with a strong risk tolerance and a long-term view on technology may prefer the STAR Market during clear "hard technology" trends, while those looking to balance new energy and technology may find ChiNext more suitable [5] - For ordinary investors, both markets have high entry thresholds, but they can consider investing through ETFs like the STAR 50 ETF and ChiNext ETF for easier access to core companies in these markets [5][6]

今日早盘市场低开高走，全市场超2800只个股上涨。板块题材上，CPO、半导体板块走强，军工、商业航天板块有所调整。港股震荡上涨，创新药板 块"一枝独秀",半导体城块局部活跃。截至午间收盘,中证A500指数上涨0.9%,沪深300指数上涨0.8%，创业板指数上涨2.8%，上证科仓板50成份指数上涨 1.3%，恒生中国企业指数上涨0.5%。 核心大盘宽基指数基本情况跟踪 (2025年11月26日) A股大盘宽基:沪深300ETF易方达/A500ETF易方达 (9) 510310 跟踪沪深300指数/中证A500指数 | 沪深300指数由沪深市场中规 | 截至午间收盘 | 该指数 | 该指数 | | --- | --- | --- | --- | | 模大、流动性好的300只股票 | 沪深300指数涨跌 | 滚动市盈率 | 发布以求 | | 组成,完整覆盖11个中证一级 行业 | 0. 8% | 13.9倍 | 61 | | 中证A500指数由各行业市值较 | 截至午间收盘 | 该指数 | 该指数 | | 大、流动性较好的500只证券 | 中证A500指数涨跌 | 滚动市盈率 | 以来仁 | | 组成,覆盖93个三 ...

【导读】昨日股票ETF市场净流出超175亿元 11月25日，A股三大指数集体上涨。其中，算力硬件股集体爆发，游戏等AI应用端活跃，水产股集体调整。 股市上涨背景下，资金再现"越涨越卖"的操作模式，昨日资金借道股票ETF市场净流出超175亿元。其中，投向中证500指数的宽基ETF出现资金明显净流 出，而港股市场ETF与商品ETF出现净流入。 | 序号 | 证券简称 | 资金流向 | 上市基金规模 | 份额变化 | 11月25日 涨跌幅 | 基金管理人 | | --- | --- | --- | --- | --- | --- | --- | | | | (亿元) | (亿元) | ((243) | | | | | | | | | (%) | | | 1 | 港股通科技ETF | 2.38 | 62.41 | 2.15 | 0.83 | 广发基金 | | 2 | 恒生红利低波ETF | 1.99 | 56.95 | 1.34 | 0.54 | 易方达基金 | | 3 | 恒生科技ETF天弘 | 1.76 | 70.26 | 2.00 | 0.81 | 天弘基金 | | ব | 恒生科技ETF易方达 | 1.29 ...

Group 1 - The three major indices opened higher on November 25, continuing their recovery, with sectors such as computing hardware and AI applications showing strength [1] - The A500 ETF managed by E Fund (159361) tracking the CSI A500 Index rose approximately 1.5% by midday, led by stocks like Huadian Technology, Shenzhen South Circuit, and Feilihua [1] - The ChiNext ETF (159915) saw its underlying index increase by 2.6%, with leading stocks including Kechuang Data, Feilihua, Shenghong Technology, Zhongji Xuchuang, and Xinyisheng [1] Group 2 - Alibaba's AI assistant Qianwen App reached over 10 million downloads within a week of its public testing, surpassing ChatGPT, Sora, and DeepSeek to become the fastest-growing AI application [1] - Meta Platforms is reportedly considering spending several billion dollars to purchase Google's TPU, which will be used for Meta's data center construction [1] - Google recently launched its seventh-generation TPU "Ironwood," which is the most powerful and energy-efficient custom chip to date [1] Group 3 - The CSI A500 Index consists of 500 stocks with large market capitalization and good liquidity across various industries, optimizing industry balance and covering most of the CSI's three-level industries [2] - The ChiNext Index is composed of 100 stocks with large market capitalization and good liquidity from the ChiNext board, with over 90% of its composition in strategic emerging industries, including AI hardware and the new energy industry [2] - The A500 ETF (159361) and ChiNext ETF (159915) are among the largest products related to these indices, offering low-cost investment tools with a management and custody fee rate of only 0.2% per year [2]

今日早盘，大盘高开高走，沪指半日涨超1%，全市场半目成交额11831亿元，较上目放量1506亿元，超4800只个股上涨。板块题材上，CPO、PCB、商业航 天板块活跃，中船系、水产、航空运输板块调整。港股震荡上行，硬件、传媒、有色金属等板块涨幅居前。截至午间收盘，中证A.600指数上涨1.5%，沪深 300指数上涨1.3%，创业板指数上涨2.6%，上证科创板50成份指数上涨1.4%，恒生中国企业指数上涨0.8%。 核心大盘宽基指数基本情况跟踪 (2025年11月25日) A股大盘宽基:沪深300ETF易方达/A500ETF易方达 (8) 510310 跟踪沪深300指数/中证A500指数 | 沪深300指数由沪深市场中规 | 截至午间收盘 | 该指数 | 该指数 | | --- | --- | --- | --- | | 模大、流动性好的300只股票 | 沪深300指数涨跌 | 滚动市盈率 | 发布以来 | | 组成,完整覆盖11个中证一级 行业 | 1.3% | 13.8倍 | 60 | | 中证A500指数由各行业市值较 | 截至午间收盘 | 该指数 | 该指数 | | 大、流动性较好的500只证券 | ...

二、资金流向 上周ETF市场净流入980亿，其中股票ETF净流入545.77亿元，QDII股票ETF净流入155.44亿元，商品ETF净流入64.95亿元，债券ETF净流入138亿元，货币基 金ETF净流入76.48亿元，其中仅11月21日便有500亿元资金借道ETF"抄底"。 指数方面，恒生科技、货币基金、中证500、创业板指、科创50、SGE黄金9999、中证1000、沪深300、上证指数分别净流入105.12亿元、76.48亿元、64.29 亿元、56.99亿元、55.33亿元、54.89亿元、48.04亿元、38.07亿元、32.35亿元、 一、市场概况 上周A股市场主要宽基指数全线下跌，沪深300、上证综指、中小板指指数收益靠前，收益分别为-3.77%、-3.90%、-5.10%，创业板指、中证1000、中证500 指数收益靠后，收益分别为-6.15%、-5.80%、-5.78%。 行业方面，上周银行、食品饮料、传媒收益靠前，收益分别为-0.87%、-1.36%、-1.39%，综合、电力设备及新能源、基础化工收益靠后，收益分别 为-9.47%、-9.41%、-8.24%。 中证银行、中证煤炭、细分化 ...

1. Report Industry Investment Rating - No information provided in the given content. 2. Report's Core View - No clear core view is presented in the provided text. The report mainly offers data on various financial products' prices, price changes, implied volatilities (IV), and related quantile information over specific time - periods. 3. Summary by Related Catalogs 3.1 General Information - The report covers multiple financial products including 50ETF, various 300ETFs (Shanghai, Shenzhen), Shanghai and Shenzhen CSI 500ETFs, ChiNext ETF, Shenzhen 100ETF,科创50ETF,科创板50ETF, 300 Index, 1000 Index, and Shanghai 50 Index [1][6][9][17][26][33][43][52][57][69][74][82]. - The current month's contracts for most products are 2 days from expiration, while for 300 Index, 1000 Index, and Shanghai 50 Index, they are 19 days from expiration [1][6][9][17][26][33][43][52][57][69][74][82]. 3.2 Price and Price Change - For 50ETF, on 2025/11/24, the price was 3.094 with a - 0.23% change from the previous day [1]. - Shanghai 300ETF had a price of 4.557 on 2025/11/24 with a - 0.15% change [6]. - Shenzhen 300ETF's price was 4.710 on 2025/11/24 with a - 0.06% change [9]. - Shanghai CSI 500ETF's price was 6.970 on 2025/11/24 with a - 2.79% change [17]. - Shenzhen CSI 500ETF's price was 2.787 on 2025/11/24 with a 0.72% change [26]. - ChiNext ETF's price was 2.908 on 2025/11/24 with a 0.14% change [33]. - Shenzhen 100ETF's price was 3.269 on 2025/11/24 with a - 0.09% change [43]. - 科创50ETF's price was 1.360 on 2025/11/24 with a 0.67% change [52]. - 科创板50ETF's price was 1.317 on 2025/11/24 with a 0.69% change [57]. - 300 Index's price was 4448.048 on 2025/11/24 with a - 0.12% change [69]. - 1000 Index's price was 7156.409 on 2025/11/24 with a 1.26% change [74]. - Shanghai 50 Index's price was 2950.562 on 2025/11/24 with a - 0.18% change [82]. 3.3 Implied Volatility (IV) - 50ETF's 2025/11/24 IV: 12.79% (current month), 14.13% (next month) [1]. - Shanghai 300ETF's 2025/11/24 IV: 15.05% (current month), 15.91% (next month) [6]. - Shenzhen 300ETF's 2025/11/24 IV: 16.58% (current month), 16.34% (next month) [9]. - Shanghai CSI 500ETF's 2025/11/24 IV: 16.76% (current month), 20.41% (next month) [17]. - Shenzhen CSI 500ETF's 2025/11/24 IV: 18.28% (current month), 20.69% (next month) [26]. - ChiNext ETF's 2025/11/24 IV: 25.93% (current month), 27.54% (next month) [33]. - Shenzhen 100ETF's 2025/11/24 IV: 21.61% (current month), 19.15% (next month) [43]. - 科创50ETF's 2025/11/24 IV: 30.31% (current month), 29.20% (next month) [52]. - 科创板50ETF's 2025/11/24 IV: 27.58% (current month), 29.29% (next month) [57]. - 300 Index's 2025/11/24 IV: 16.77% (current month), 17.42% (next month) [69]. - 1000 Index's 2025/11/24 IV: 20.26% (current month), 21.12% (next month) [74]. - Shanghai 50 Index's 2025/11/24 IV: 14.76% (current month), 48.90% (next month) [82]. 3.4 IV Quantiles - For 50ETF, the current - month IV quantiles in the past 1 - year and 2 - year are provided, such as 28.90% and 22.40% in the past 1 - year [1]. - Similar IV quantile data for other products like Shanghai 300ETF, Shenzhen 300ETF, etc., are also presented [6][9]. 3.5 Skew Index - The skew index for each product's main contract month is given, for example, 105.84 for 50ETF on the current day [5]. - Other products like Shanghai 300ETF, Shenzhen 300ETF also have their respective skew index data [8][14]. 3.6 Other Information - There are also data on the term structure of IV, intraday trends of at - the - money (ATM) IV for different months, option smile curves, price and position - volume PCR trends, and implied volatility and trading volume trends for each product [3][4][5].