Quantitative Factors and Construction Methods - **Factor Name**: Large Order Transaction Amount Ratio **Construction Idea**: This factor captures the buying behavior of large funds by analyzing the proportion of large order transaction amounts relative to the total daily transaction amount[7] **Construction Process**: 1. Use tick-by-tick transaction data to identify buy and sell orders based on the sequence numbers of bids and asks 2. Filter transactions by order size to identify large orders 3. Calculate the proportion of large buy order transaction amounts to the total daily transaction amount **Formula**: $ \text{Large Order Transaction Amount Ratio} = \frac{\text{Large Buy Order Transaction Amount}}{\text{Total Daily Transaction Amount}} $ **Evaluation**: This factor effectively reflects the buying behavior of large funds and provides insights into market dynamics[7] - **Factor Name**: Net Active Buy Amount Ratio **Construction Idea**: This factor measures the active buying behavior of investors by analyzing the net active buy amount as a proportion of the total daily transaction amount[7] **Construction Process**: 1. Use tick-by-tick transaction data to classify each transaction as either active buy or active sell based on the buy/sell indicator 2. Calculate the net active buy amount by subtracting the active sell amount from the active buy amount 3. Compute the proportion of the net active buy amount to the total daily transaction amount **Formula**: $ \text{Net Active Buy Amount Ratio} = \frac{\text{Active Buy Amount} - \text{Active Sell Amount}}{\text{Total Daily Transaction Amount}} $ **Evaluation**: This factor provides a clear representation of investors' active buying behavior and is useful for tracking market sentiment[7] --- Factor Backtesting Results - **Large Order Transaction Amount Ratio**: - Top 5 stocks with the highest 5-day average values: 1. *Zaisen Technology (603601.SH)*: 91.4%, time-series percentile: 99.6%[9] 2. *Annie Shares (002235.SZ)*: 91.2%, time-series percentile: 98.4%[9] 3. *Kangxin New Materials (600076.SH)*: 87.9%, time-series percentile: 99.6%[9] 4. *Guangtian Group (002482.SZ)*: 87.6%, time-series percentile: 100.0%[9] 5. *Zhongtai Chemical (002092.SZ)*: 87.5%, time-series percentile: 100.0%[9] - **Net Active Buy Amount Ratio**: - Top 5 stocks with the highest 5-day average values: 1. *Hot Scene Biology (688068.SH)*: 15.9%, time-series percentile: 100.0%[10] 2. *Lanxiao Technology (300487.SZ)*: 14.5%, time-series percentile: 100.0%[10] 3. *Yilian Technology (301631.SZ)*: 14.0%, time-series percentile: 100.0%[10] 4. *Xiamen Bank (601187.SH)*: 14.0%, time-series percentile: 99.2%[10] 5. *Huamao Technology (603306.SH)*: 13.1%, time-series percentile: 99.6%[10] --- Additional Factor Testing Results - **Large Order Transaction Amount Ratio for Broad-Based Indices**: - *Shanghai Composite Index*: 5-day average: 73.0%, percentile: 59.0%[12] - *CSI 300*: 5-day average: 72.0%, percentile: 33.6%[12] - *ChiNext Index*: 5-day average: 71.4%, percentile: 14.8%[12] - **Net Active Buy Amount Ratio for Broad-Based Indices**: - *Shanghai Composite Index*: 5-day average: 0.8%, percentile: 7.8%[12] - *CSI 300*: 5-day average: 2.6%, percentile: 4.9%[12] - *ChiNext Index*: 5-day average: 3.5%, percentile: 2.5%[12] - **Large Order Transaction Amount Ratio for Industries**: - *Non-Bank Financials*: 5-day average: 78.5%, percentile: 95.9%[13] - *Steel*: 5-day average: 78.2%, percentile: 43.9%[13] - *Electric Power and Utilities*: 5-day average: 77.6%, percentile: 13.9%[13] - **Net Active Buy Amount Ratio for Industries**: - *Non-Bank Financials*: 5-day average: 6.3%, percentile: 0.8%[13] - *Electric Power and Utilities*: 5-day average: 1.8%, percentile: 1.6%[13] - *Steel*: 5-day average: 1.4%, percentile: 9.4%[13] - **Large Order Transaction Amount Ratio for ETFs**: - Top ETF: *Guotai Zhongzheng A500 ETF (159338.SZ)*: 91.5%, percentile: 20.1%[15] - **Net Active Buy Amount Ratio for ETFs**: - Top ETF: *Guotai SSE 10-Year Treasury Bond ETF (511260.SH)*: 25.9%, percentile: 87.7%[16]

◼ 今日成交金额靠前的股票 ETF 为：华泰柏瑞中证 A500ETF 上涨 0.65%，贴水率为 0.71%；华夏中证 A500ETF 上涨 0.61%，贴水率为 0.75%；国泰中证 A500ETF 上涨 0.78%，贴水率为 0.72%。 债券 ETF： ◼ 今日成交金额靠前的债券 ETF 为：海富通中证短融 ETF 涨跌幅为 0.00%，贴水率为-0.01%；南方上证基准做市公司债ETF上涨0.02%， 贴水率为-0.14%；易方达中证 AAA 科技创新公司债 ETF 上涨 0.01%， 贴水率为-0.24%。 ETF 日报 2025.12.12 市场概况： ◼ 今日 A 股上证综指上涨 0.41%，收于 3889.35 点，深证成指上涨 0.84%，收于 13258.33 点，创业板指上涨 0.97%，收于 3194.36 点， 两市 A 股成交金额为 21192 亿元。涨幅靠前的行业有：有色金属 （1.50%）、电子（1.46%）、电力设备（1.42%），跌幅靠前的行业有： 商贸零售（-1.28%）、综合（-1.18%）、建筑材料（-0.47%）。 股票 ETF： 2025 年 12 月 12 日 ...

ETF 日报 2025.12.04 2025 年 12 月 04 日 ETF 日报 证券研究报告-ETF 日报 分析师：马遥识途 资格证书：S1330524050001 联系邮箱：mayst@hxzb.cn 联系电话：15201282186 相关研究 ETF 日报 2025.12.03 2025.12.03 ETF 日报 2025.12.02 2025.12.02 ETF 日报 2025.12.01 2025.12.01 市场概况： ◼ 今日 A 股上证综指下跌 0.06%，收于 3875.79 点，深证成指上涨 0.40%，收于 13006.72 点，创业板指上涨 1.01%，收于 3067.48 点， 两市 A 股成交金额为 15618 亿元。涨幅靠前的行业有：机械设备 （0.90%）、电子（0.78%）、国防军工（0.55%），跌幅靠前的行业有： 综合（-2.11%）、美容护理（-1.89%）、社会服务（-1.62%）。 股票 ETF： ◼ 今日成交金额靠前的股票 ETF 为：华夏中证 A500ETF 上涨 0.35%， 贴水率为 0.49%；华泰柏瑞中证 A500ETF 上涨 0.25%，贴水率为 0 ...

ETF 日报 2025.12.03 市场概况： ◼ 今日 A 股上证综指下跌 0.51%，收于 3878.00 点，深证成指下跌 0.78%，收于 12955.25 点，创业板指下跌 1.12%，收于 3036.79 点， 两市 A 股成交金额为 16837 亿元。涨幅靠前的行业有：交通运输 （0.69%）、有色金属（0.63%）、煤炭（0.57%），跌幅靠前的行业有： 传媒（-2.86%）、计算机（-2.26%）、房地产（-1.53%）。 股票 ETF： ◼ 今日成交金额靠前的股票 ETF 为：华夏中证 A500ETF 下跌 0.35%， 贴水率为-0.42%；华泰柏瑞中证 A500ETF 下跌 0.33%，贴水率为- 0.39%；国泰中证 A500ETF 下跌 0.52%，贴水率为-0.53%。 债券 ETF： ◼ 今日成交金额靠前的债券 ETF 为：海富通中证短融 ETF 上涨 0.01%， 贴水率为 0.00%；华夏上证基准做市国债 ETF 下跌 0.05%，贴水率 为 0.03%；招商中证 AAA 科技创新公司债 ETF 下跌 0.04%，贴水率 为-0.29%。 2025 年 12 月 03 日 ...

- The report introduces two key tracking indicators: "Large Order Transaction Amount Proportion" and "Net Active Buy Amount Proportion" [7] - The "Large Order Transaction Amount Proportion" is designed to capture the buying behavior of large funds. It is calculated by identifying large orders from transaction data and computing the proportion of large buy orders' transaction amounts relative to the total daily transaction amount [7] - The "Net Active Buy Amount Proportion" reflects investors' active buying behavior. It is derived by distinguishing active buy and sell transactions from transaction data, calculating the net active buy amount (active buy amount minus active sell amount), and expressing it as a proportion of the total daily transaction amount [7] Factor Backtesting Results - For individual stocks, the top 10 stocks with the highest 5-day average "Large Order Transaction Amount Proportion" include Xinhua Du (90.6%, 99.2% percentile), Beichen Industrial (89.1%, 98.8% percentile), and Zhongyou Engineering (88.8%, 100.0% percentile) [9] - For individual stocks, the top 10 stocks with the highest 5-day average "Net Active Buy Amount Proportion" include Senying Windows (22.3%, 100.0% percentile), Huitong Group (20.0%, 100.0% percentile), and Yuandong Biotech (19.6%, 100.0% percentile) [10] - For broad-based indices, the 5-day average "Large Order Transaction Amount Proportion" ranges from 71.7% (Shanghai 50 Index) to 74.3% (China Securities 500 Index), while the "Net Active Buy Amount Proportion" ranges from -5.2% (Shanghai 50 Index) to 1.9% (China Securities 500 Index) [12] - For industries, the 5-day average "Large Order Transaction Amount Proportion" is highest in the banking sector (80.6%, 86.5% percentile) and lowest in the electronics sector (70.8%, 16.4% percentile). The "Net Active Buy Amount Proportion" is highest in the steel sector (7.9%, 75.8% percentile) and lowest in the banking sector (-14.6%, 3.3% percentile) [13] - For ETFs, the top 10 ETFs with the highest 5-day average "Large Order Transaction Amount Proportion" include Guotai CSI A500 ETF (92.3%, 36.1% percentile) and Guotai SSE 10-Year Treasury Bond ETF (90.7%, 89.3% percentile) [15] - For ETFs, the top 10 ETFs with the highest 5-day average "Net Active Buy Amount Proportion" include Southern SSE STAR Chip ETF (27.5%, 100.0% percentile) and E Fund Hang Seng Dividend Low Volatility ETF (23.6%, 99.6% percentile) [16]

- **Tracking indicators and their calculation** The report uses two indicators: the proportion of large buy order transaction amount and the proportion of net active buy transaction amount. The large buy order transaction amount proportion reflects the buying behavior of large funds. It is calculated by restoring transaction data into buy and sell orders based on transaction sequence numbers, filtering large orders by transaction volume, and computing the proportion of large buy order transaction amounts to the total daily transaction amount. The net active buy transaction amount proportion reflects investors' active buying behavior. It is calculated by identifying whether each transaction is an active buy or sell based on transaction markers, subtracting active sell amounts from active buy amounts, and computing the proportion of net active buy amounts to the total daily transaction amount[7] - **Individual stock tracking** The report provides rankings of stocks based on the 5-day average proportion of large buy order transaction amounts and net active buy transaction amounts. For example, the top-ranked stock for large buy order transaction amount proportion is "海陆重工" with a value of 93.0% and a time-series percentile of 100.0%. Similarly, the top-ranked stock for net active buy transaction amount proportion is "力聚热能" with a value of 21.2% and a time-series percentile of 100.0%[9][10] - **Broad-based index tracking** The report calculates the 5-day average proportions of large buy order transaction amounts and net active buy transaction amounts for major broad-based indices. For instance, the "上证指数" has a large buy order transaction amount proportion of 73.6% (percentile: 66.0%) and a net active buy transaction amount proportion of -4.1% (percentile: 99.6%)[11][12] - **Sector tracking** The report calculates the 5-day average proportions of large buy order transaction amounts and net active buy transaction amounts for various sectors. For example, the "石油石化" sector has a large buy order transaction amount proportion of 78.3% (percentile: 100.0%) and a net active buy transaction amount proportion of 5.0% (percentile: 27.0%)[13] - **ETF tracking** The report ranks ETFs based on the 5-day average proportions of large buy order transaction amounts and net active buy transaction amounts. For example, the top-ranked ETF for large buy order transaction amount proportion is "国泰上证 10 年期国债 ETF" with a value of 93.7% and a time-series percentile of 100.0%. Similarly, the top-ranked ETF for net active buy transaction amount proportion is "国泰上证 10 年期国债 ETF" with a value of 24.7% and a time-series percentile of 84.4%[15][16]

Report Summary 1. Report Industry Investment Rating No relevant content provided. 2. Core View of the Report On November 7, 2025, the A - share market generally declined, with the Shanghai Composite Index down 0.25%, the Shenzhen Component Index down 0.36%, and the ChiNext Index down 0.51%. Different sectors and ETFs showed varying performance [2][6]. 3. Summary by Related Catalogs Market Overview - The Shanghai Composite Index closed at 3997.56 points, down 0.25%; the Shenzhen Component Index closed at 13404.06 points, down 0.36%; the ChiNext Index closed at 3208.21 points, down 0.51%. The trading volume of A - shares in the two markets was 20205 billion yuan [2][6]. - The top - performing industries were basic chemicals (up 2.39%), comprehensive (up 1.45%), and petroleum and petrochemicals (up 1.38%); the worst - performing industries were computer (down 1.83%), electronics (down 1.34%), and household appliances (down 1.17%) [2][6]. Stock ETF - The top - trading - volume stock ETFs included Huaxia CSI A500 ETF (down 0.08%, discount rate - 0.14%), Guotai CSI A500 ETF (down 0.17%, discount rate - 0.18%), and Huatai - Ber瑞 CSI A500 ETF (unchanged, discount rate - 0.05%) [3][7]. - The report also listed the details of the top ten stock ETFs in terms of trading volume, including price, change rate, tracking index change rate, discount rate, trading volume, and latest share reference [8]. Bond ETF - The top - trading - volume bond ETFs were Haifutong CSI Short - Term Financing ETF (unchanged, discount rate 0.00%), Boshi CSI Convertible and Exchangeable Bond ETF (up 0.15%, discount rate - 0.12%), and Huaxia Shanghai Stock Exchange Benchmark Market - Making Treasury Bond ETF (down 0.06%, discount rate 0.01%) [4][9]. - The details of the top five bond ETFs in terms of trading volume were provided, including price, change rate, discount rate, and trading volume [10]. Gold ETF - Gold AU9999 was unchanged, and Shanghai Gold was up 0.31%. The top - trading - volume gold ETFs were Huaan Gold ETF (up 0.43%, discount rate 0.15%), Boshi Gold ETF (up 0.42%, discount rate 0.10%), and E Fund Gold ETF (up 0.42%, discount rate 0.12%) [12]. - The details of several gold ETFs were presented, including price, change rate, trading volume, IOPV, and discount rate [13]. Commodity Futures ETF - Huaxia Feed Soybean Meal Futures ETF was down 0.10%, discount rate 0.07%; Dacheng Non - Ferrous Metals Futures ETF was down 0.28%, discount rate - 0.13%; Jianxin Yisheng Zhengzhou Commodity Exchange Energy and Chemical Futures ETF was down 0.57%, discount rate 0.39% [13][14]. - The details of these commodity futures ETFs were provided, including price, change rate, trading volume, IOPV, discount rate, tracking index, and tracking index change rate [14]. Cross - Border ETF - The previous trading day, the Dow Jones Industrial Average was down 0.84%, the Nasdaq was down 1.90%, the S&P 500 was down 1.12%, and the German DAX was down 1.31%. On this day, the Hang Seng Index was down 0.92%, and the Hang Seng China Enterprises Index was down 0.94% [15]. - The top - trading - volume cross - border ETFs were E Fund CSI Hong Kong Securities Investment Theme ETF (down 1.17%, discount rate - 1.21%), GF CSI Hong Kong Innovative Drug ETF (down 2.22%, discount rate - 1.85%), and Huatai - Ber瑞 Hang Seng Technology ETF (down 1.27%, discount rate - 1.30%) [15]. - The details of the top five cross - border ETFs in terms of trading volume were given, including trading volume, change rate, and discount rate [16]. Currency ETF - The top - trading - volume currency ETFs were Yin Hua Day - to - Day Profit ETF, Hua Bao Tian Yi ETF, and Currency ETF Jian Xin Tian Yi [17][19]. - The trading volumes of the top three currency ETFs were provided [19].

Report Summary 1. Market Overview - On November 5, 2025, the Shanghai Composite Index rose 0.23% to 3969.25 points, the Shenzhen Component Index rose 0.37% to 13223.56 points, and the ChiNext Index rose 1.03% to 3166.23 points. The trading volume of A - shares in the two markets was 18946 billion yuan. The top - performing sectors were power equipment (3.40%), coal (1.39%), and commercial and retail (1.22%), while the under - performing sectors were computer (-0.97%), non - bank finance (-0.49%), and communication (-0.43%) [2][6]. 2. Stock ETFs - The top - trading - volume stock ETFs were Huaxia CSI A500 ETF (up 0.09% with a premium rate of 0.16%), Guotai CSI A500 ETF (unchanged with a premium rate of 0.05%), and Southern CSI A500 ETF (up 0.08% with a premium rate of 0.14%) [3][7]. - The top ten trading - volume stock ETFs included details such as price, return, tracking index return, IOPV, premium rate, trading volume, and latest share reference [8]. 3. Bond ETFs - The top - trading - volume bond ETFs were Haifutong CSI Short - Term Financing ETF (up 0.01% with a premium rate of 0.01%), Huatianfu CSI AAA Sci - tech Bond ETF (up 0.01% with a premium rate of - 0.21%), and Boshi CSI Convertible and Exchangeable Bond ETF (up 0.48% with a premium rate of 0.54%) [4][9]. - The top five trading - volume bond ETFs' information including price, return, premium rate, and trading volume was provided [10]. 4. Gold ETFs - Gold AU9999 fell 0.71% and Shanghai Gold fell 0.35%. The top - trading - volume gold ETFs were Huaan Gold ETF (down 0.35% with a premium rate of - 0.69%), Boshi Gold ETF (down 0.33% with a premium rate of - 0.70%), and E Fund Gold ETF (down 0.34% with a premium rate of - 0.69%) [12]. - The top five trading - volume gold ETFs' details were presented [13]. 5. Commodity Futures ETFs - Huaxia Feed Soybean Meal Futures ETF rose 1.64% with a premium rate of 1.97%, Dacheng Non - ferrous Metals Futures ETF fell 0.33% with a premium rate of - 0.65%, and Jianxin Yisheng Zhengzhou Commodity Exchange Energy and Chemical Futures ETF rose 0.24% with a premium rate of 0.33% [13][14]. 6. Cross - border ETFs - The previous trading day, the Dow Jones Industrial Average fell 0.53%, the Nasdaq fell 2.04%, the S&P 500 fell 1.17%, and the German DAX fell 0.76%. On this day, the Hang Seng Index fell 0.07% and the Hang Seng China Enterprises Index fell 0.11%. The top - trading - volume cross - border ETFs were E Fund CSI Hong Kong Securities Investment Theme ETF (down 0.69% with a premium rate of 0.43%), GF CSI Hong Kong Innovative Drugs ETF (down 0.37% with a premium rate of 0.92%), and Huatai - Peregrine Hang Seng Technology ETF (down 1.03% with a premium rate of - 0.04%) [15]. - The top five trading - volume cross - border ETFs' information was given [16]. 7. Money ETFs - The top - trading - volume money ETFs were Yin Hua Ri Li ETF, Hua Bao Tian Yi ETF, and Money ETF Jian Xin Tian Yi [17][18].

Report Summary 1. Market Overview - The Shanghai Composite Index rose 0.55% to close at 3976.52 points, the Shenzhen Component Index rose 0.19% to close at 13404.06 points, and the ChiNext Index rose 0.29% to close at 3196.87 points. The total trading volume of A - shares in the two markets was 2132.5 billion yuan. The top - performing sectors were Media (3.13%), Coal (2.52%), and Petroleum & Petrochemical (2.28%), while the bottom - performing sectors were Non - Ferrous Metals (-1.21%), Household Appliances (-0.66%), and Comprehensive (-0.39%) [2][6] 2. Stock ETFs - Among the stock ETFs with high trading volume, the Huaxia CSI A500ETF had a change of 0.00% with a premium rate of 0.15%; the Huaxia Shanghai Sci - Tech Innovation Board 50ETF fell 1.21% with a premium rate of -1.12%; the Cathay CSI A500ETF rose 0.17% with a premium rate of 0.20% [3][7] 3. Bond ETFs - The top - traded bond ETFs included the Haifutong CSI Short - Term Financing Bond ETF with a change of 0.00% and a premium rate of 0.00%; the Huaxia CSI AAA Science and Technology Innovation Corporate Bond ETF rose 0.03% with a premium rate of -0.12%; the Cathay CSI AAA Science and Technology Innovation Corporate Bond ETF rose 0.04% with a premium rate of -0.02% [4][9] 4. Gold ETFs - Gold AU9999 fell 0.16% and Shanghai Gold fell 0.11%. Among the high - volume gold ETFs, the Huaan Gold ETF rose 0.03% with a premium rate of -0.20%; the E Fund Gold ETF rose 0.11% with a premium rate of -0.22%; the Bosera Gold ETF rose 0.10% with a premium rate of -0.21% [12] 5. Commodity Futures ETFs - The Dacheng Non - Ferrous Metals Futures ETF rose 0.66% with a premium rate of 0.43%; the Huaxia Feed Soybean Meal Futures ETF rose 0.31% with a premium rate of 1.72%; the Jianxin Yisheng Zhengzhou Commodity Exchange Energy and Chemical Futures ETF fell 0.40% with a premium rate of -0.70% [13][14] 6. Cross - border ETFs - The previous trading day saw the Dow Jones Industrial Average rise 0.09%, the Nasdaq rise 0.61%, the S&P 500 rise 0.26%, and the German DAX fall 0.67%. On the reporting day, the Hang Seng Index rose 0.97% and the Hang Seng China Enterprises Index rose 0.98%. Among the high - volume cross - border ETFs, the GF CSI Hong Kong Innovative Drugs ETF rose 1.02% with a premium rate of 2.48%; the E Fund CSI Hong Kong Securities Investment Theme ETF fell 0.09% with a premium rate of 0.57%; the Huatai - Berry Hang Seng Technology ETF rose 0.25% with a premium rate of 0.74% [15] 7. Money Market ETFs - The money market ETFs with high trading volume were the Yin Hua Rili ETF, the Hua Bao Tian Yi ETF, and the Money Market ETF Jianxin Tian Yi [17]

Report Summary 1. Market Overview - A-shares declined with the Shanghai Composite Index down 0.73% to 3986.90, the Shenzhen Component Index down 1.16% to 13532.13, and the ChiNext Index down 1.84% to 3263.02. The trading volume of A-shares reached 24646 billion yuan. The top-performing sectors were steel (0.90%), non-ferrous metals (0.79%), and public utilities (0.13%), while the worst-performing sectors were communications (-2.83%), electronics (-2.23%), and national defense and military industry (-1.95%) [2][6] 2. Stock ETFs - The most actively traded stock ETFs were Huaxia Shanghai Sci-Tech Innovation Board 50 ETF (down 1.92% with a discount rate of -1.82%), Huaxia CSI A500 ETF (down 0.84% with a discount rate of -0.87%), and Cathay CSI A500 ETF (down 0.91% with a discount rate of -0.90%) [3][7] 3. Bond ETFs - The most actively traded bond ETFs were Haifutong CSI Short-term Financing Bond ETF (up 0.01% with a discount rate of 0.00%), Cathay CSI AAA Technology Innovation Corporate Bond ETF (up 0.06% with a discount rate of 0.02%), and Bosera CSI Convertible and Exchangeable Bond ETF (down 0.74% with a discount rate of -0.88%) [4][9] 4. Gold ETFs - Gold AU9999 fell 0.66% and Shanghai Gold rose 0.07%. The most actively traded gold ETFs were Huaan Gold ETF (up 0.14% with a discount rate of -0.33%), E Fund Gold ETF (up 0.01% with a discount rate of -0.48%), and Bosera Gold ETF (down 0.06% with a discount rate of -0.52%) [12] 5. Commodity Futures ETFs - Dacheng Non-ferrous Metals Futures ETF fell 0.82% with a discount rate of -0.24%, Jianxin Yisheng Zhengzhou Commodity Exchange Energy and Chemical Futures ETF fell 1.67% with a discount rate of -1.25%, and Huaxia Feed Soybean Meal Futures ETF fell 0.56% with a discount rate of 2.10% [13] 6. Cross-border ETFs - The previous trading day saw the Dow Jones Industrial Average down 0.16%, the NASDAQ up 0.55%, the S&P 500 unchanged, and the German DAX down 0.64%. Today, the Hang Seng Index fell 0.24% and the Hang Seng China Enterprises Index fell 0.31%. The most actively traded cross-border ETFs were E Fund CSI Hong Kong Securities Investment Theme ETF (down 2.87% with a discount rate of -0.99%), Huatai-PineBridge Hang Seng Tech ETF (down 2.45% with a discount rate of -0.86%), and Huaxia Hang Seng Tech ETF (down 2.29% with a discount rate of -1.01%) [16] 7. Money Market ETFs - The most actively traded money market ETFs were Yin Hua Day Profit ETF, Hua Bao Tian Yi ETF, and Money Market ETF Jian Xin Tian Yi [18]