Group 1 - The consumer sector is showing signs of recovery under the policy direction of expanding domestic demand, with public funds accelerating their layout in this area [1][2] - Several leading fund companies, including GF Fund, Penghua Fund, and Huaxia Fund, have launched new food-themed funds for the first time in four years, indicating renewed interest in the consumer sector [2][3] - The tourism and aviation sectors have performed well recently, with a notable net inflow of over 680 million yuan into the tourism ETF managed by Fortune Fund, approaching historical highs [1][3] Group 2 - Fund managers are increasingly focusing on the consumer sector, with some actively increasing their positions in consumer stocks, particularly in the service consumption area [3][4] - The recovery momentum in consumer spending has been evident since the fourth quarter, with improvements in CPI growth and prices in service consumption and food sectors [4][5] - There are indications that the government will continue to support the consumer sector, with many sub-sectors currently at historically low valuation levels, which could benefit from policy-driven performance improvements [5] Group 3 - Certain segments within the consumer sector, such as health consumption, pet economy, and cultural tourism, are highlighted as having significant value due to policy support [1][5] - The upcoming traditional consumption peak during the New Year and Spring Festival is expected to drive stronger performance in the consumer sector, particularly in service-oriented consumption [5] - The current low valuations in the consumer sector present an opportunity for long-term investment, despite potential short-term volatility [5]

Core Viewpoint - The A-share market experienced a collective decline in the morning session, with major indices showing varying degrees of losses, while certain sectors such as consumer goods and chemicals performed well [1] Market Performance - The Shanghai Composite Index fell by 0.03%, the Shenzhen Component Index decreased by 0.59%, and the ChiNext Index dropped by 2.13% [1] - The total trading volume in the Shanghai, Shenzhen, and Beijing markets reached 14,544 billion yuan, an increase of 1,883 billion yuan compared to the previous day [1] - Over 2,900 stocks in the market showed gains [1] Sector Performance - Leading sectors included dairy, duty-free shops, liquor, chemicals, non-ferrous metals, silicon energy, and influenza-related stocks [1] - Underperforming sectors included AI hardware, semiconductor stocks, and computing hardware related to CPO and copper cables [1] ETF Performance - The consumer goods sector saw strong gains, with the tourism sector leading; the Fortune Fund Tourism ETF and the Huaxia Fund Tourism ETF rose by 5.19% and 4.74%, respectively [1] - Liquor stocks rebounded, with the Penghua Fund Liquor ETF and the Food and Beverage ETF increasing by 3.29% and 2.83% [1] - The chemical sector continued its upward trend, with the Penghua Fund Chemical ETF rising by 2.66% [1] - The AI hardware sector led the declines, with the Communication ETF and 5G Communication ETF both falling by 4% [1] - The consumer electronics sector also declined, with the Consumer Electronics ETF dropping by 3% [1] - The semiconductor sector faced losses, with the Sci-Tech Chip Design ETF decreasing by 3% [1]