Market Overview - A-shares experienced a collective pullback on October 10, with the ChiNext and STAR Market showing larger adjustments compared to other indices [1] - High-dividend stocks, such as the S&P Dividend ETF, rose by 1.2%, while sectors like batteries, semiconductors, and non-ferrous metals faced declines [1][2] Sector Performance - The agricultural sector, particularly the first agricultural ETF, saw a maximum intraday increase of 1.5% and closed up by 0.8%, indicating potential turning points in the pig cycle [1][4] - The technology sector faced significant declines, with the AI-focused STAR Market ETF dropping by 4.75%, suggesting a potential short-term impact on investor sentiment [1][3] Investment Insights - Analysts suggest that the coal sector may see a rebound due to increased winter heating demand, with potential price increases if supply constraints are enforced [3] - The agricultural sector is viewed positively due to recent policy signals aimed at reducing production capacity, which could lead to long-term price increases for pork [6][8] ETF Highlights - The agricultural ETF (159275) recorded a net subscription of 52 million units, reflecting strong investor interest [4] - The Hong Kong Internet ETF (513770) experienced a price drop of 3.41%, but maintained a premium, indicating active buying interest despite market volatility [9][14] Geopolitical and Economic Factors - The easing of geopolitical tensions, such as the approval of a ceasefire in Gaza, has led to a decrease in safe-haven demand, impacting gold prices negatively [2][11] - The market is also influenced by the Federal Reserve's cautious stance on interest rate adjustments, contributing to short-term uncertainties [12][13] Future Outlook - Analysts expect the pig farming industry to undergo capacity reduction, which could enhance long-term profitability for leading companies in the sector [7][8] - The overall sentiment in the market remains cautious, with expectations of continued volatility but potential for recovery in the long term [12][13]

| | | | 10月9日股票ETF涨幅排行 | | | | --- | --- | --- | --- | --- | --- | | 排行 | 证券简称 | 成交额 | 当日涨跌幅 | 最新规模 | 基金管理人 | | | | (亿元) | (%) | (亿元) | | | 1 | 黄金股票ETF | 0.53 | 10.03 | 1.97 | 华安事等 | | 2 | 黄金股ETF基金 | 0.71 | 10.01 | 1.21 | 工银瑞信基金 | | 3 | 黄金股票ETF | 0.83 | 9.47 | 3.37 | 国泰重金 | | 4 | 黄金股票ETF基金 | 0.28 | 9.32 | 0.93 | 平安基金 | | 5 | A JETF | 0.73 | 9.30 | 0.72 | 指陶量金 | | 6 | 黄金股ETF | 7.96 | 8.99 | 116.69 | 永赢星金 | | 7 | 黄金股ETF | 1.83 | 8.95 | 24.09 | 不意真关 | | 8 | 有色龙头ETF | 1.71 | 8.90 | 3.47 | 学宝真金 | | 9 | 有色ETF基金 | ...

来源：市场资讯 （来源：有色龙头159876） 10月10日，截至11时06分，有色龙头ETF盘中表现疲软，场内价格现跌3.1%，成交额为1.21亿元，基金 最新规模为4.83亿元。 西部证券指出，稀土出口管制政策持续强化，新增对二次资源回收利用的管控，预计2025年二次回收供 给占比将达27%，供给端已完全管控，难以出现突发增量；技术出口限制切断海外企业通过中国技术人 员扩产的可能。政策全面管控下，稀土供给端扰动频发，金属板块有望实现多重共振。 申万宏源证券指出，有色金属行业景气度维持高位，工业金属方面，9月世界铜矿巨头因印尼矿山安全 事件部分停产，供给约束预期叠加弱美元环境，铜铝等工业金属价格延续上行。稀土方面，商务部对稀 土相关技术实施出口管制，供给政策继续收紧，价格延续强势。 有色龙头ETF（$华宝中证有色金属ETF$）被动跟踪中证有色指数，该指数前十大权重股分别为紫金矿 业、北方稀土、洛阳钼业、华友钴业、山东黄金、赣锋锂业、中国铝业、中金黄金、赤峰黄金、天齐锂 业。 数据来源于沪深交易所、公开资料等。 风险提示：以上产品由基金管理人发行与管理，代销机构不承担产品的投资、兑付和风险管理责任。投 资人应 ...

1、稀土方面，10月9日商务部发布新规，分别公布对境外相关稀土物项、稀土相关技术实施出口管制的决定。国金证券认为，涨价、供改兑现、供应扰动叠加板块战略属性提升，稀土板块将继 2、铜方面，长假期间大宗商品价格持续上涨。LME铜价强势上涨，于10月3日突破10500美元/吨重要压力位，并于10月6日创出近一年高点。南华期货指出，节前全球第二大铜矿（印度尼西亚 3、黄金方面，中信证券指出，黄金站上4000美元整数关口，展望仍然乐观。8月底以来黄金价格迅速上涨，除了此前关注的长期因素，近期美联储持续降息预期不断升温、美国政府关门催化避 中信建投建议关注有色板块投资机遇。该机构认为，黄金等贵金属在长假期间迎来大涨。国际金价大涨的背后，主要是由美国政府停摆引发的短期波动、日本政治更迭带来的短期不确定性、美联 展望后市，中信建投表示，除却美联储处于降息通道带来的货币宽松外，国内正在推行的"反内卷"优化生产要素，提升各环节盈利能力和改善市场预期，有利于金属价格上涨向下游的传导。 【未来产业"金属心脏"，现代工业"黄金血液"】 昨日（10月9日）有色金属板块领涨市场，北方稀土、紫金矿业、赣锋锂业等16只成份股涨停，揽尽有色金属 ...

有色金属概念股早盘走强，山东黄金涨停，洛阳钼业、中金黄金、赣锋锂业涨超9%。 有券商表示，2025年，有色金属板块市场波动风险仍高，需求端、供应端扰动等因素均带来不确定性。然而，新兴需求在铜、铝下游结构中的 占比已从量变走向质变，有望支撑有色金属长期价格中枢向上抬升。 （文章来源：每日经济新闻） 受盘面影响，矿业、有色相关ETF涨约7%。 | 代码 | 类型 | 名称 | 现价 | 涨跌 | 涨跌幅 ▼ | | --- | --- | --- | --- | --- | --- | | 561330 | 主 | 矿业ETF | 1.769 | 0.125 | 7.60% | | 159690 | 主 | 矿业ETF | 1.805 | 0.127 | 7.57% | | 159562 | 主 | 黄金股ETF | 2.341 | 0.162 | 7.43% | | 560860 | 主 | 工业有色ETF | 1.433 | 0.096 | 7.18% | | 516650 | 主 | 有色金属ETF基金 | 1.739 | 0.115 | 7.08% | | 159871 | 主 | 有色金属ETF | 1 ...

>>>>> ETF早知道 >>>>> ETF早知道 ETF 早知道 品 wabao WP Fund <<<< >>>>> TFOFF 2025 Oct ETF星知道 EFEF规演 <<<< 市场温度计 >>>> BTF로 9 中长期信号 · 投资看温度 -- 75% = 759b -- 75% -- 2596 -+ 25% --- 2596 ETF 早知道 <<<< 0.52% ↑ 0.35% 0.00% T T 上证指数 深证成指 创业板指 注:温度计水膜条由对应指数的近十年市盈率分值散表示,总值为100%。数据来源:iFind,截至 2025.9.30,上证指数、测证成指、创业板指的近十年市盈丰分位数分别为96.3%。67.17%。52.45% ETFER 0 e e 市场 利用 ETFER® <<<< 短期轮动走向 · 观九宫热力值 +2.12% +3.22% +2.59% 房地产 有色金属 国防军工 +1.71% -0.78% +1.40% 电力设备 医药生物 环保 -1.06% -1.14% -1.83% 综合 非银金融 適信 (4) 数据来源:iFind,截至2015.9.30,以申万一级行业区分 ...

来源：市场资讯 （来源：有色龙头159876） 天风证券指出，铜价震荡上行，市场看多情绪主导，价格仍有上涨空间；铝市成本下移，需求端汽车数 据向好但地产不佳，库存减少。小金属中锑锭弱势运行，供需僵持。贵金属受美联储降息预期升温推动 上涨。稀土价格震荡但基本面改善方向不改。 华创证券指出，铜矿供应扰动不断，25-26年铜矿供应缺口加大叠加降息周期开启带来的需求修复，供 需共振下看好铜价中枢稳步走高。电解铝方面，节前备货带动去库，需求回暖趋势延续，库存下行明 显，叠加"金九银十"旺季预期，铝价有所支撑。钴板块受刚果金出口禁令延期及配额政策影响，原料紧 缺加剧，钴价加速上行，中长期供需格局或转为短缺。 有色龙头ETF被动跟踪中证有色指数，该指数前十大权重股分别为紫金矿业、北方稀土、洛阳钼业、华 友钴业、中国铝业、山东黄金、中金黄金、天齐锂业、赣锋锂业、中国稀土。 数据来源于沪深交易所、公开资料等。 风险提示：以上产品由基金管理人发行与管理，代销机构不承担产品的投资、兑付和风险管理责任。投 资人应当认真阅读《基金合同》、《招募说明书》、《基金产品资料概要》等基金法律文件，了解基金 的风险收益特征，选择与自身风险承受能 ...

Group 1 - The core viewpoint of the news highlights the strong performance and increasing investment interest in the non-ferrous metals sector, particularly through the Non-Ferrous Metal Leader ETF (159876), which saw a net subscription of 30.6 million units today and a total net inflow of 28.4 million yuan over the past five days [1] - The recent surge in gold prices, reaching a historical high of $3542.8 per ounce, is attributed to factors such as concerns over the independence of the Federal Reserve, rising expectations for interest rate cuts, and significant upward revisions in gold price forecasts by institutions like JPMorgan [3] - Analysts suggest that the Federal Reserve's potential interest rate cuts will enhance the attractiveness of precious metals and industrial metals, as lower rates typically lead to increased demand for physical assets and cheaper pricing in international markets [3][4] Group 2 - The composition of the Non-Ferrous Metal Leader ETF indicates a diversified exposure to various metals, with copper, aluminum, gold, rare earths, and lithium accounting for 24.5%, 15.3%, 14.4%, 11.5%, and 8.2% of the index, respectively, which helps mitigate risks associated with investing in a single metal [5] - The industrial metals sector is currently undervalued, suggesting potential for upward price adjustments, with a bullish trend indicated by both earnings per share (EPS) and price-to-earnings (PE) ratios [7]

Market Performance - The A-share market continues to show strong performance, with the Shanghai Composite Index reaching a ten-year high and trading volume surpassing 3 trillion yuan for the second time in history, increasing by 594.4 billion yuan compared to the previous trading day [1][2] - The Hong Kong Internet ETF (513770) surged by 3.39%, reaching a historical high, driven by the strong performance of major internet stocks like Alibaba and Meituan [1][10] Federal Reserve Impact - Federal Reserve Chairman Powell's speech has paved the way for a potential rate cut in September, with expectations for a 90% chance of a rate reduction, which could benefit liquidity-sensitive sectors like technology [1][10] - The anticipated rate cut is expected to lead to a depreciation of the dollar, stimulating economic growth and improving profitability in various sectors, particularly in non-ferrous metals [1][17] Sector Highlights - The AI sector is gaining momentum, with the ChiNext AI ETF (159363) seeing a net subscription of 116 million yuan, reflecting strong investor interest [1][4] - The non-ferrous metals sector is experiencing significant gains, with the Non-Ferrous Metals ETF (159876) rising by 4.25% and attracting a net subscription of 17.4 million yuan [1][17] Real Estate and Defense - The Shanghai government has adjusted housing purchase restrictions, leading to a 3.82% increase in the Real Estate ETF (159707), marking a yearly high [1] - The defense and military sector ETFs also saw gains, with the National Defense ETF (512810) and General Aviation ETF (159231) rising by 1.89% and 2.09%, respectively [1] Investment Recommendations - Analysts suggest maintaining positions in the current market environment, with a focus on sectors showing strong performance such as AI, innovative pharmaceuticals, military, and non-ferrous metals [2][3] - The AI hardware sector, particularly companies involved in optical modules, is highlighted as a key area for investment, with significant growth expected [5][7]

Market Overview - The market temperature gauge indicates a long-term signal with a 75% positive outlook, reflecting a favorable investment environment [1] - The Shanghai Composite Index, Shenzhen Component Index, and ChiNext Index show slight fluctuations with changes of 0.66%, 0.46%, and 0.50% respectively [1] Sector Performance - The defense and military sector leads with a short-term gain of 3.06%, followed by machinery equipment at 1.93% and non-ferrous metals at 1.87% [2] - The media, comprehensive, textile and apparel, social services, and retail sectors experienced declines, with the worst performer being the petroleum and petrochemical sector [2] Capital Flow - The top three sectors for capital inflow are defense and military (¥2.507 billion), machinery equipment (¥2.151 billion), and household appliances (¥0.591 billion) [2] - The sectors with the highest capital outflow include computers (¥-3.168 billion), electronics (¥-1.973 billion), and communications (¥-0.868 billion) [2] ETF Performance - The General Aviation ETF has shown a 3.29% increase, while the Defense Vehicle ETF and Non-ferrous Metals ETF have also performed well with increases of 2.61% and 1.74% respectively [5] - The banking sector ETF is attracting long-term capital due to its high and stable dividends, with a notable increase in interest from insurance funds [6] Strategic Insights - The low-altitude economy and military aviation sectors are expected to drive significant industrial value, supported by government investment and strategic initiatives [6] - Recent developments in low-altitude aviation, such as the successful transport flight by a domestically developed eVTOL aircraft, highlight the potential for growth in this sector [6]