01 上周（11月17日至21日），标普生物科技ETF和新兴亚洲ETF两只跨境ETF周涨幅居前。除此之外，上周上涨的ETF中，债券型 ETF居多。新能源主题ETF集体回调，科创板新能源ETF、光伏龙头ETF、电池ETF等跌超10%，周跌幅居前。 02 上周，多只宽基ETF逆势获资金流入，中证500ETF、创业板ETF、沪深300ETF、科创50ETF、中证1000ETF净流入额均超过20 亿元。此外，恒生科技指数ETF、恒生科技ETF两只跨境ETF净流入额也超过20亿元，净流入额位居前十。 03 上周，科技题材回调，部分资金已开启"抄底"模式，聚焦科技方向的ETF被资金"越跌越买"。芯片ETF易方达（516350）等相关 主题ETF在指数回调时受到市场关注。同时，16只聚焦硬科技方向的基金获批，即将发售，科技板块将迎来增量资金。 一周ETF涨幅榜 11月17日至21日，A股市场震荡调整，ETF跌多涨少，两只跨境ETF——标普生物科技ETF和新兴亚洲ETF周涨幅居前，周涨幅 分别为1.35%和0.67%。 多只跨境ETF近期出现了溢价。数据显示，截至11月21日，纳指科技ETF、纳指100ETF溢价率超过10% ...

□本报记者 万宇 11月17日至21日，多只宽基ETF获资金逆势净流入。中证500ETF（510500）是期间资金净流入额最多 的ETF，一周的净流入额为57.78亿元。在资金净流入额前十的ETF中，还有多只宽基ETF，创业板 ETF、沪深300ETF（510300）、科创50ETF、中证1000ETF（512100）的一周净流入额均超过20亿元。 另外，恒生科技指数ETF（513180）、恒生科技ETF（513130）两只跨境ETF的一周净流入额也都超过 20亿元，位居一周净流入额前十。 在行业和主题ETF中，虽然科技板块回调，但创业板人工智能ETF南方、科创芯片ETF等科技主题ETF 也有较多资金流入。 11月17日至21日，标普生物科技ETF和新兴亚洲ETF两只跨境ETF领涨，除此之外，上周上涨的ETF以 债券型产品为主。与此同时，新能源相关ETF集体回调，科创板新能源ETF、科创新能源ETF易方达、 光伏ETF易方达等产品一周跌超10%。 在资金净流入方面，11月17日至21日，多只宽基ETF获资金逆势净流入，中证500ETF（510500）、创 业板ETF、沪深300ETF（510300）、科创50 ...

Group 1 - The core viewpoint of the articles highlights the performance of various ETFs, particularly the rise of cross-border ETFs and the decline of renewable energy-related ETFs during the period from November 17 to 21 [1][2][3] - The S&P Biotechnology ETF and Emerging Asia ETF led the gains among ETFs, with weekly increases of 1.35% and 0.67% respectively, while several renewable energy ETFs experienced significant declines, with the Sci-Tech Board New Energy ETF dropping 13.44% [1][2] - Despite the overall market adjustment, several broad-based ETFs saw substantial net inflows, with the CSI 500 ETF receiving the highest net inflow of 5.778 billion yuan during the same period [2][3] Group 2 - A notable trend is the premium observed in several cross-border ETFs, with the Nasdaq Technology ETF showing a premium rate exceeding 10% as of November 21, prompting multiple fund companies to issue risk warnings [2][3] - The approval of 16 hard technology-themed funds on November 21, including AI and semiconductor ETFs, indicates a growing interest in technology sectors, providing investors with tools to access the semiconductor industry [3] - The overall market sentiment remains cautious, with expectations of continued volatility, but the long-term outlook for A-shares is positive due to structural improvements in the domestic economy and supportive policies [4]

从全球各主要指数相关系数看，新交所新兴亚洲精选50指数与印度市场相关度高，根据统计，截至11月19日，该指数与印 度Sensex30指数近三年相关系数达0.69，与恒生指数、沪深300指数、纳斯达克100指数相关数分别为0.3、0.15、0.19，为 全球多元化配置提供了新标杆。 消息面上，穆迪评级公司近日表示，消费需求和基础设施支出将促进印度经济增长，印度经济今年预计或将增长7%。 摩根士丹利预计，受印度国内经济稳健增长、全球经济保持温和增长以及油价平稳影响，印度股市在未来12个月有望表现 强劲。分析师指出，相对估值已经大幅修正，并可能已在10月触底。该行认为，到2026年12月，BSE Sensex指数有望上涨 约13%。 新兴亚洲ETF（520580）跟踪新交所新兴亚洲精选50指数，主要投资于印度、印度尼西亚、马来西亚、泰国。其中，印度 市场权重占比约48%，在A股市场已上市可交易的ETF中，新兴亚洲ETF（520580）"印度含量"最高。 11月20日，印度SENSEX30指数涨0.33%，创2024年9月以来新高，距历史高位仅一步之遥。信实工业、马衡达信息技术、 印度国家电网等涨超1%。新兴亚洲ET ...

Core Insights - Two Brazil-focused cross-border ETFs have seen significant demand, with subscription amounts quickly surpassing their fundraising limits, indicating strong investor interest in emerging market investment products [1][2][3] Group 1: ETF Launch and Performance - On October 31, two Brazil ETFs were publicly launched, with each having a fundraising cap of 300 million RMB, and both exceeded this limit on the first day of subscription [2] - The subscription confirmation ratios for the two ETFs were approximately 11.5% for the Huaxia Fund and 11.8% for the E Fund, reflecting the high demand [3] - The Huaxia Fund's Brazil ETF attracted around 2.6 billion RMB in subscriptions, while the E Fund's Brazil ETF garnered over 2.5 billion RMB on the same day [3] Group 2: Growth of Cross-Border ETFs - The total scale of cross-border ETFs has approached 900 billion RMB, with significant growth from 565.5 billion RMB at the end of Q2 to approximately 884 billion RMB by the end of Q3 this year [7] - The introduction of these Brazil ETFs adds to the growing variety of cross-border ETFs, which now include products tracking markets in Hong Kong, the US, Japan, and the Middle East [4][5] Group 3: Investor Sentiment and Market Trends - Investor enthusiasm for cross-border ETFs is evident, with discussions on sales platforms highlighting concerns about allocation ratios and the desire for more shares [5] - The trend of investing in cross-border ETFs is becoming increasingly popular, allowing ordinary investors to participate in global markets with relatively small amounts of capital [7]

Group 1 - Two Brazil-focused cross-border ETFs launched on October 31, attracting significant investor interest with subscription amounts exceeding the initial fundraising cap of 300 million RMB [1][2] - The subscription confirmation ratios for the two ETFs were approximately 11.5% for Huaxia Fund's ETF and 11.8% for E Fund's ETF, indicating strong demand for emerging market investment products [1][2] - The total scale of cross-border ETFs has approached 900 billion RMB, reflecting a growing trend among ordinary investors to participate in global asset allocation [1][4] Group 2 - The rapid growth of cross-border ETFs is evident, with the total scale increasing from approximately 424 billion RMB at the end of 2022 to about 884 billion RMB by the end of Q3 2023, effectively doubling in size [4] - New emerging market ETFs, such as those tracking the Saudi Arabian market and the Emerging Asia ETF, have been introduced, further diversifying the offerings available to investors [3] - The popularity of cross-border ETFs has led to increased trading activity, but also to potential risks such as high premium rates and liquidity issues due to strict subscription limits imposed by QDII quotas [4][5]

Group 1 - The core viewpoint of the articles is the introduction of new cross-border investment funds, specifically ETFs focused on the Brazilian market, which enhances connectivity between Chinese and Brazilian capital markets [1][3][5] - On October 13, the China Securities Regulatory Commission announced the approval of two new QDII ETFs: the Huaxia Bradesco Brazil Ibovespa ETF and the E Fund Itaú Brazil IBOVESPA ETF, allowing investors to easily access the Brazilian capital market [2][3] - The Brazilian capital market is highlighted as the largest and most influential financial system in Latin America, offering opportunities for global investors to benefit from its resource dividends and economic growth potential, while also being affected by domestic fiscal policies and political dynamics [2][3] Group 2 - The Ibovespa index, which is a key indicator of the Brazilian stock market, has shown an annualized return of over 12% over the past decade, with a year-to-date return of 21.6% as of September [2][3] - The emergence of these Brazilian ETFs is seen as a significant development in the ongoing collaboration between China and Brazil in capital market connectivity, following previous initiatives such as the Bradesco Huaxia ChiNext ETF launched in May [3][4] - The trend of public funds expanding into cross-border investments has led to the creation of various products targeting emerging markets, with many of these funds achieving double-digit returns this year, including the notable performance of the China-Korea Semiconductor ETF, which has risen by 66.21% [4][6] Group 3 - The market has seen a diversification of cross-border funds, with products now available for investment in countries such as South Korea, Germany, France, Japan, and others, indicating a growing interest in emerging markets [5][6] - The introduction of dedicated investment tools for the Brazilian market has garnered significant attention, reflecting the increasing sophistication of public funds in meeting investor demand and the deepening of capital market openness [6][7] - Future expectations include the emergence of more products targeting niche countries or markets, as well as cross-border ETFs focusing on global themes such as renewable energy and healthcare, creating a multi-dimensional product matrix for investors [7][8]

Group 1 - The core viewpoint of the articles emphasizes the importance of global asset allocation, particularly highlighting the potential of emerging markets as a counterbalance to the high valuations and risks associated with major tech stocks in developed markets [1][3]. - Morgan Stanley has upgraded its rating on emerging market stocks to "overweight," indicating a bullish stance and suggesting that these markets could provide significant investment opportunities, especially as they have underperformed developed markets by 40% over the past four years [1][2]. - Emerging market stocks have shown a notable recovery this year, with Indonesia's index rising by 10% and India's SENSEX30 increasing by 7%, outperforming the A500 index [1][2]. Group 2 - The report highlights that the forward P/E ratio for emerging market stocks is 12.4 times, significantly lower than the 19.1 times for developed markets, suggesting a potential for capital inflow as global investors currently have low exposure to these markets [1][2]. - The article points out that trade volumes within emerging markets have reached historical highs, with China exporting more to Southeast Asia than to the U.S., indicating a shift in trade dynamics [5]. - Specific opportunities are identified in markets like India, which has a large untapped mobile data user base, and Indonesia, where the digital economy is poised for significant growth due to its geographical characteristics [5].

Core Insights - The total trading volume of non-monetary ETFs reached 203.06 billion yuan, with 50 ETFs exceeding 1 billion yuan in trading volume [1] - The top three ETFs by trading volume were Short-term Bond ETF, Policy Financial Bond ETF, and 30-Year Treasury Bond ETF, with volumes of 13.40 billion, 11.81 billion, and 7.70 billion yuan respectively [1] - The highest turnover rates were recorded by S&P Consumer ETF, S&P 500 ETF, and New Economy ETF, with rates of 723.92%, 502.64%, and 377.92% respectively [1][7] Trading Volume Summary - Short-term Bond ETF (511360.SH) had a trading volume of 13.40 billion yuan, with a recent average daily trading volume of 10.04 billion yuan over the last 5 days [2] - Policy Financial Bond ETF (511520.SH) recorded a trading volume of 11.81 billion yuan, with a recent average daily trading volume of 8.26 billion yuan over the last 20 days [2] - 30-Year Treasury Bond ETF (511090.SH) achieved a trading volume of 7.70 billion yuan, with a recent average daily trading volume of 9.23 billion yuan over the last 5 days [3] Turnover Rate Summary - S&P Consumer ETF (159529.SZ) had a turnover rate of 723.92%, indicating high trading activity [7] - S&P 500 ETF (159612.SZ) recorded a turnover rate of 502.64%, reflecting significant investor interest [7] - New Economy ETF (159822.SZ) had a turnover rate of 377.92%, showcasing its popularity among investors [7] ETF Performance Summary - Short-term Bond ETF's trading volume increased by 41.00% compared to the previous trading day, indicating a surge in interest [2] - Policy Financial Bond ETF's trading volume grew by 29.16% from the previous day, showing increased market activity [3] - S&P 500 ETF's trading volume rose by 57.88% compared to the previous trading day, reflecting strong demand [3] ETF Rankings by Trading Volume - The top five ETFs by trading volume included Short-term Bond ETF, Policy Financial Bond ETF, 30-Year Treasury Bond ETF, Credit Bond ETF, and Gold ETF, with volumes of 13.40 billion, 11.81 billion, 7.70 billion, 6.75 billion, and 6.14 billion yuan respectively [4] - The rankings indicate a strong preference for bond-related ETFs among investors [4] ETF Rankings by Turnover Rate - The top three ETFs by turnover rate were S&P Consumer ETF, S&P 500 ETF, and New Economy ETF, with rates of 723.92%, 502.64%, and 377.92% respectively [7] - This highlights the active trading environment for these ETFs, particularly in the consumer and technology sectors [7]

Group 1 - Southeast Asian countries have experienced four consecutive weeks of gains, with India leading the way [1] - The Indian stock market, represented by the SENSEX, has shown strong mid-term trends, defying initial expectations of a downturn [1] - The Emerging Asia ETF (SH520580) has seen significant trading activity, with a trading volume of 700 million and a turnover rate of 142% [3] Group 2 - The Emerging Asia ETF has a weight distribution of 53% in India, 19% in Indonesia, 15% in Malaysia, and 13% in Thailand, benefiting from low correlation with A-shares and U.S. stocks [4] - Morgan Stanley upgraded its rating on emerging market currencies from "underweight" to "neutral," indicating a potential shift in the dollar cycle and optimistic investor sentiment [5] - The ETF has recorded an 18% cumulative increase since April 8, with recent financing purchases of 0.08 billion, 0.06 billion, and 0.15 billion [7] Group 3 - The Emerging Asia ETF (520580) includes 50 leading companies from emerging markets, focusing on sectors such as finance, energy, technology, and consumer goods, with nearly half of its exposure in the Indian market [6] - The ETF's characteristics of "high growth and low correlation" may provide alpha opportunities in the context of a changing dollar cycle and enhanced regional economic resilience [7]