Market Overview - The Shanghai Composite Index rose by 0.11% to close at 3954.79 points, with a weekly high of 4025.7 points [1] - The Shenzhen Component Index increased by 0.67% to 13378.21 points, reaching a peak of 13700.25 points [1] - The ChiNext Index gained 0.5%, closing at 3187.53 points, with a maximum of 3331.86 points [1] - Global markets saw most major indices rise, with the Nasdaq Composite up 2.24%, the Dow Jones Industrial Average up 0.75%, and the S&P 500 up 0.71% [1] - In the Asia-Pacific region, the Hang Seng Index fell by 0.97%, while the Nikkei 225 Index surged by 6.31% [1] ETF Market Performance - The median weekly return for stock ETFs was 0.23% [2] - The highest weekly return among scale index ETFs was 2.4% for the Jiashi Zhongchuang 400 ETF [2] - The South China CSI New Energy ETF led industry index ETFs with a return of 5.94% [2] - The highest return in strategy index ETFs was 2.37% for the China Southern CSI All-Share Dividend Quality ETF [2] - The Jiashi CSI Battery Theme ETF achieved the highest return among thematic index ETFs at 7.75% [2] ETF Performance Rankings - The top five stock ETFs by weekly return were: - Jiashi CSI Battery Theme ETF (7.75%) - Huatai-PB CSI Battery Theme ETF (7.56%) -招商中证电池主题ETF (7.52%) - 富国中证电池主题ETF (7.51%) - 浦银安盛中证光伏产业ETF (7.04%) [4][5] - The five stock ETFs with the largest declines were: - 国联安上证科创板芯片设计主题ETF (-5.35%) - 华安上证科创板芯片ETF (-5.11%) - 国泰上证科创板芯片ETF (-5.06%) - 博时上证科创板芯片ETF (-5.05%) - 南方上证科创板芯片ETF (-5.05%) [4][5] ETF Liquidity - Average daily trading volume for stock ETFs increased by 13.3%, with average daily trading volume rising by 46.7% and turnover rate increasing by 0.22% [6] ETF Fund Flows - The top five stock ETFs by fund inflow were: - 华泰柏瑞沪深300ETF (inflow of 5.084 billion) - 华夏上证科创板50成份ETF (inflow of 1.647 billion) - 华夏上证50ETF (inflow of 1.535 billion) - 国泰中证全指证券公司ETF (inflow of 1.353 billion) - 嘉实上证科创板芯片ETF (inflow of 959 million) [9] - The five stock ETFs with the largest outflows were: - 鹏华中证酒ETF (outflow of 351 million) - 华安创业板50ETF (outflow of 334 million) - 汇添富中证电池主题ETF (outflow of 284 million) - 南方中证申万有色金属ETF (outflow of 279 million) - 嘉实中证稀土产业ETF (outflow of 256 million) [10] ETF Financing and Margin Trading - The financing balance for stock ETFs increased from 47.486 billion to 49.145 billion, while the margin balance rose from 2.5678 billion to 2.6069 billion [11] ETF Market Size - The total market size for ETFs reached 5699.032 billion, an increase of 6.878 billion from the previous week [15] - Stock ETFs accounted for 3724.471 billion, representing 65.4% of the total ETF market size [15][17] ETF Issuance and Establishment - No new ETFs were issued last week, but eight new ETFs were established, including 天弘国证港股通科技ETF and 摩根恒生港股通50ETF [18] Institutional Insights - 财通证券 is optimistic about the solid-state battery industry, expecting breakthroughs in technology and increased industrialization by 2025 [18] - 中国银河证券 believes traditional lithium battery equipment manufacturers will maintain their advantages in the solid-state battery market, suggesting a focus on developments in equipment and orders [18]

Core Viewpoint - The Hong Kong stock market has gained significant attention this year, driven by substantial inflows of southbound capital and emerging industrial opportunities, leading to increased market activity [1] Group 1: Market Activity and Capital Inflows - As of September 30, 2025, southbound capital net purchases reached a record high of 1.17 trillion HKD, the highest since the establishment of the Hong Kong Stock Connect in 2014, indicating strong investor confidence in the market [1] - The Morgan Fund's Morgan Hang Seng Stock Connect 50 ETF was officially launched on October 13, allowing investors to subscribe through various brokerage channels [1] Group 2: Index Composition and Sector Distribution - The Hang Seng Stock Connect 50 Index, compiled by the Hang Seng Index Company, includes the top 50 stocks within the Stock Connect that have high liquidity and market capitalization, reflecting the overall performance of high-quality enterprises in the Hong Kong stock market [1] - The index covers 11 primary sectors, with the top three being Consumer Discretionary (28.51%), Financials (27.12%), and Information Technology (25.26%), balancing traditional finance and emerging growth sectors [1] - The top ten weighted stocks include leading companies from both new economy and financial sectors, collectively accounting for over 60% of the index, highlighting the potential for investors to capture growth in core Hong Kong assets [1] Group 3: Product Features and Management - The Morgan Hang Seng Stock Connect 50 ETF features a unique dividend mechanism, where if the ETF's excess return relative to the benchmark index is positive on the last trading day of each quarter, a mandatory dividend will be distributed, with at least 60% of the excess return allocated to investors [2] - As of June 30, 2025, Morgan Asset Management is the second-largest active ETF manager globally, with an ETF management scale of 276 billion USD, and ranked first in net inflows for active ETFs in 2024 [2] - The proposed fund manager, Wei Zhihao, has 11 years of experience in the securities industry and has been managing funds since February 2021, including the Morgan S&P Hong Kong Stock Connect Low Volatility Dividend ETF and the Morgan Hang Seng Technology ETF [2]

Core Viewpoint - The Morgan Hang Seng Stock Connect 50 ETF (520953) is set to launch from October 13 to October 24, 2025, with a maximum fundraising target of 2 billion yuan [1] Group 1 - The fund will be managed by Morgan Asset Management, with He Zhihao as the fund manager [1] - The performance benchmark for the fund is the Hang Seng Stock Connect 50 Index return (adjusted for exchange rates) [1]