按成交金额环比增加看，平安中证2000增强策略ETF（159556）、易方达中证2000ETF（159532）等今 日成交额较上一交易日分别增加430.08%、123.20%，增幅居前。 统计显示，中证2000指数ETF今日合计成交额11.57亿元，环比上一交易日增加3.88亿元，环比增幅为 50.41%。 具体来看，中证2000（563300）今日成交额5.38亿元，较上一交易日增加1.94亿元，环比增幅为 56.45%；南方中证2000ETF（159531）今日成交额2.30亿元，较上一交易日增加7411.99万元，环比增幅 为47.60%；招商中证2000增强策略ETF（159552）今日成交额2.49亿元，较上一交易日增加6987.33万 元，环比增幅为39.03%。 从市场表现看，截至收盘，中证2000指数（932000）下跌2.32%，跟踪中证2000指数的相关ETF今日平 均下跌2.20%，其中，今日跌幅居前的有富国中证2000ETF（563200）、汇添富中证2000ETF （159536），分别下跌3.07%、2.78%。（数据宝） | 基金代码 | 基金简称 | 今日涨跌幅 | 今日成交额 ...

公募基金方面，本期较上一季度新披露的公募基金共计2个，包括大成中证360互联网+指数A、富国中 证2000ETF。本期较上一季未再披露的公募基金共计4个，包括博道成长智航股票A、博道中证500增强 A、鹏华智投数字经济混合A、华夏国证2000指数增强发起式A。 外资态度来看，本期较上一季度新披露的外资机构有 1 家 ，即BARCLAYS BANK PLC。 2025年8月27日，华是科技(301218.SZ)发布2025年半年度报告。截至2025年8月26日，共有6个机构投资 者披露持有华是科技A股股份，合计持股量达598.42万股，占华是科技总股本的5.25%。其中，机构投 资者包括杭州中是股权投资管理合伙企业(有限合伙)、BARCLAYS BANK PLC、杭州天是股权投资管 理合伙企业(有限合伙)、杭州汇是贸易合伙企业(有限合伙)、中国工商银行股份有限公司-大成中证360 互联网+大数据100指数型证券投资基金、富国中证2000ETF，机构投资者合计持股比例达5.25%。相较 于上一季度，机构持股比例合计下跌了0.16个百分点。 ...

Summary of Key Points Core Viewpoint - The trading volume of the CSI 2000 Index ETF increased significantly today, indicating heightened market activity and investor interest in this segment [1]. Trading Volume and Performance - The total trading volume of the CSI 2000 Index ETF reached 685 million yuan, an increase of 171 million yuan from the previous trading day, representing a growth rate of 33.37% [1]. - Specifically, the CSI 2000 ETF (563300) had a trading volume of 484 million yuan, up 144 million yuan from the previous day, with a growth rate of 42.48% [1]. - The E Fund CSI 2000 ETF (159532) saw a trading volume of 17.6861 million yuan, an increase of 9.7813 million yuan, reflecting a growth rate of 123.74% [1]. - The Southern CSI 2000 ETF (159531) recorded a trading volume of 134 million yuan, up 8.5146 million yuan, with a growth rate of 6.81% [1]. Market Performance - As of market close, the CSI 2000 Index (932000) rose by 2.22%, while the average increase for related ETFs was 2.34% [1]. - Notable performers included the China Merchants CSI 2000 Enhanced Strategy ETF (159552) and the Hai Fu Tong CSI 2000 Enhanced Strategy ETF (159553), which increased by 3.36% and 2.59%, respectively [1]. Individual ETF Performance - The trading performance of various ETFs showed significant increases, with the following highlights: - The China Merchants CSI 2000 Enhanced Strategy ETF (159552) increased by 3.36% with a trading volume of 9.6983 million yuan [1]. - The E Fund CSI 2000 ETF (159532) increased by 2.49% with a trading volume of 17.6861 million yuan [1]. - The Guangfa CSI 2000 ETF (560220) had a remarkable increase of 170.80% in trading volume, despite a modest price increase of 2.26% [1].

Core Viewpoint - The small and micro-cap style has shown strong performance recently, leading to heightened investor enthusiasm for related funds. To prevent rapid fund size expansion and dilution of returns for existing holders, fund companies have implemented purchase restrictions [1][2]. Fund Purchase Restrictions - On June 11, Changsheng Fund announced a limit on purchases for the Changsheng North Certificate 50 Enhanced Index Fund, capping single account purchases at 100 yuan per day. Other funds, such as Huashan North Certificate 50 Index Fund, have also set limits, with some funds restricting daily purchases to amounts ranging from 1,000 yuan to 50,000 yuan [2][3]. Performance of Small and Micro-Cap Indices - The Wind Micro-Cap Index has risen over 30% year-to-date, reaching a new high on June 10. The North Certificate 50 Index has increased nearly 40% this year, also hitting a new peak in late May. These indices have significantly outperformed larger market indices [4][5]. Market Dynamics and Investor Behavior - The recent strong performance of small and micro-cap stocks is attributed to favorable policies and a loose funding environment. The release of the "Major Asset Restructuring Management Measures" has spurred interest in mergers and acquisitions, benefiting small and micro-cap stocks [6][8]. Valuation Metrics - The valuation of the small and micro-cap style is high, with the price-to-earnings ratio of the CSI 2000 Index at 138 times, and the North Certificate 50 Index at 74.52 times, both at historically elevated levels [4][8]. Market Sentiment and Risks - Despite the high trading crowding in small and micro-cap stocks, some institutional investors believe that any potential pullback will depend on the occurrence of substantial negative events. Current policies favoring technology innovation and asset integration support the continued performance of small and micro-cap stocks [7][8].

Core Viewpoint - The trading volume of the CSI 2000 Index ETFs increased significantly today, indicating heightened market activity and investor interest in this segment [1]. Trading Volume Summary - The total trading volume of the CSI 2000 Index ETFs reached 320 million yuan, an increase of 91.373 million yuan from the previous trading day, representing a growth rate of 39.97% [1]. - Specifically, the CSI 2000 ETF (563300) had a trading volume of 209 million yuan, up by 68.7955 million yuan, with a growth rate of 48.93% [1]. - The Southern CSI 2000 ETF (159531) recorded a trading volume of 74.4675 million yuan, an increase of 25.2318 million yuan, reflecting a growth rate of 51.25% [1]. - The Haifutong CSI 2000 Enhanced Strategy ETF (159553) saw a trading volume of 2.5985 million yuan, up by 2.0962 million yuan, with a remarkable growth rate of 417.30% [1]. Market Performance Summary - As of market close, the CSI 2000 Index (932000) rose by 1.44%, while the average increase for related ETFs tracking the CSI 2000 Index was 1.26% [1]. - Notable performers included the Huaxia CSI 2000 ETF (562660) and the Southern CSI 2000 ETF (159531), which increased by 1.74% and 1.61%, respectively [1].

Core Viewpoint - The trading volume of the CSI 2000 Index ETF increased significantly today, indicating heightened market activity despite a decline in the index itself [1] Trading Volume Summary - The total trading volume of the CSI 2000 Index ETF reached 920 million yuan, an increase of 434 million yuan from the previous trading day, representing a growth rate of 89.20% [1] - Specifically, the CSI 2000 ETF (563300) had a trading volume of 722 million yuan, up 389 million yuan from the previous day, with a growth rate of 116.72% [1] - The Southern CSI 2000 ETF (159531) recorded a trading volume of 139 million yuan, an increase of 30.83 million yuan, with a growth rate of 28.48% [1] - The Huatai-PB CSI 2000 ETF (159536) had a trading volume of 17.78 million yuan, up 9.11 million yuan, with a growth rate of 105.09% [1] - The GF CSI 2000 ETF (560220) saw a trading volume increase of 179.42%, the highest among the ETFs [1] Market Performance Summary - As of market close, the CSI 2000 Index (932000) fell by 1.49%, while the average decline for related ETFs was 1.43% [1] - The ETFs with the largest declines included the Hai Fu Tong CSI 2000 Enhanced Strategy ETF (159553) and the Fortune CSI 2000 ETF (563200), which dropped by 1.86% and 1.81% respectively [1]

Market Overview - The Shanghai Composite Index rose by 1.13% to close at 3316.11 points, with a daily high of 3316.45 points [1] - The Shenzhen Component Index increased by 1.84% to close at 10082.34 points, reaching a high of 10082.34 points [1] - The ChiNext Index saw a rise of 1.97%, closing at 1986.41 points, with a peak of 1988.05 points [1] ETF Market Performance - The median return for stock ETFs was 1.42%, with the highest return from the FTSE China 2000 ETF at 6.4% [2] - The top-performing industry ETF was the Southern China Securities All-Index Computer ETF, yielding 4.28% [2] - The top strategy ETF was the Huaxia Growth Value ETF, returning 1.8% [2] - The best thematic ETF was the Harvest China Securities Rare Earth Industry ETF, which returned 5.22% [2] ETF Gains and Losses - The top three ETFs by gain were: FTSE China 2000 ETF (6.4%), Harvest China Securities Rare Earth Industry ETF (5.22%), and Huatai-PB China Securities Hong Kong-Deep Internet ETF (5.07%) [4] - The three ETFs with the largest losses were: CCB Shanghai Composite 180 Corporate Governance ETF (-1.28%), China Merchants China Securities Bank AH Price Preferred ETF (-0.71%), and Galaxy Shanghai Composite State-Owned Enterprises Dividend ETF (-0.51%) [4] ETF Fund Flows - The top three ETFs by inflow were: Huaxia Shanghai 50 ETF (5.55 billion), Huaxia China Securities Robot ETF (3.33 billion), and Harvest Shanghai Science and Technology Innovation Board Chip ETF (3.17 billion) [6] - The ETFs with the largest outflows were: Huaxia Shanghai Science and Technology Innovation Board 50 Component ETF (1.93 billion), Guolian An China Securities All-Index Semiconductor Products and Equipment ETF (1.84 billion), and Tianhong Shanghai and Shenzhen 300 ETF (1.73 billion) [6] ETF Margin Trading Overview - The top three ETFs by margin buying were: Huaxia Shanghai Science and Technology Innovation Board 50 Component ETF (420 million), Huatai-PB Shanghai and Shenzhen 300 ETF (312 million), and E Fund ChiNext ETF (290 million) [8] - The ETFs with the highest margin selling were: Southern China Securities 500 ETF (37.38 million), Huatai-PB Shanghai and Shenzhen 300 ETF (20.88 million), and Huaxia 500 ETF (5.84 million) [8] Institutional Insights - According to China Merchants Securities, May is expected to see a recovery in market risk appetite, with a potential rebound in heavyweight indices and active technology growth [10] - Bank of China International emphasizes the importance of domestic demand policies and tariff developments for A-share performance, suggesting that internal demand and self-sufficiency remain key investment themes [11] - The market may return to a growth style, with the AI industry chain expected to regain prominence once tariff uncertainties stabilize [12]