01 1月30日，贵金属、工业金属、小金属等板块全线下跌，油气开采及服务板块高开低走，多只黄金、有 色ETF跌停。 02 多只LOF复牌后震荡下跌，收盘跌停。 03 1月29日，黄金、有色相关ETF吸引较多资金净流入，半导体相关ETF也吸引资金逆向布局。 通信ETF普遍上涨 贵金属板块今天整体大跌，黄金股票ETF 、黄金股ETF、工业有色ETF万家、黄金股票ETF基金、黄金 股ETF工银等多只黄金股、有色ETF跌停。 今日，低估值的种植业与林业、造纸板块领涨。此外，近期科技板块整体震荡，但通信设备板块走出独 立行情，通信、人工智能相关ETF上涨。 | 通信ETF大涨 | | | | --- | --- | --- | | 代码 | 简称 | 涨幅 (%) | | 159379. OF | A500ETF融通 | 5.61 | | 515880. OF | 通信ETF | 3.41 | | 517160. OF | 长江保护ETF南方 | 3. 36 | | 159100. OF | 巴西ETF | 3.21 | | 159507. OF | 通信ETFJ"发 | 3.14 | | 159967. OF | 创 ...

【导读】昨日股票ETF资金净流出近300亿元 1月29日，A股市场震荡分化，三大指数涨跌不一，全市场成交额为3.26万亿元。 部分资金离场。全市场股票ETF（含跨境ETF）资金净流出近300亿元，跟踪沪深300、上证50、中证500、创业板、中证1000等宽基的ETF资金净流出较 多。单日净流出金额超过50亿元的ETF有6只，其中一只ETF单日净流出金额超百亿元。 2026年以来截至1月29日，由于部分宽基ETF"失血"严重，股票ETF在多个交易日遭遇资金净流出。其间，股票ETF累计净流出金额超7500亿元。 股票ETF净流出近300亿元 数据显示，按照成交均价测算，昨日股票ETF净流出资金为298.64亿元。尽管如此，当日仍有61只股票ETF净流入金额超过1亿元。例如，黄金有色板块品 种资金净流入靠前，南方、华夏旗下的有色金属ETF，以及华夏旗下黄金股ETF资金净流入位居前三。 从大类型来看，上一交易日行业主题ETF与商品ETF净流入居前，分别达221.41亿元与53.9亿元。宽基ETF净流出金额居前，净流出金额达520.18亿元。规 模变化方面，宽基ETF规模下降539.4亿元。 "全球地缘格局、海外利率 ...

【导读】1月28日股票ETF资金净流出超1300亿元 1月28日，A股三大指数涨跌不一。股票ETF市场上，资金延续净流出态势，当日净流出超1300亿元。 行业主题ETF资金净流入居前 数据显示，截至1月28日，全市场1320只股票ETF（含跨境ETF，下同）总规模为4.3万亿元，基金份额 减少217亿份；根据均价测算，净流出资金为1312.07亿元。 从大类型看，当日行业主题ETF与商品ETF净流入居前，分别达176.86亿元、71.54亿元。指数维度上， 1月28日SGE黄金9999指数产品单日净流入居前，达63.91亿元；从5个交易日角度观测，近期资金流入 SGE黄金9999指数超191亿元。 具体来看，1月28日共有53只ETF资金净流入超1亿元。其中，华夏基金的有色金属ETF基金、鹏华基金 的化工ETF、华夏基金的黄金股ETF位列前三，资金净流入分别为13.97亿元、12.04亿元、10.76亿元。 头部基金公司旗下ETF继续获得资金净流入。易方达基金方面，黄金ETF易方达资金净流入10.8亿元， 医药ETF易方达资金净流入4.11亿元，科创50ETF易方达资金净流入2.4亿元，科创芯片ETF易方达资 ...

Group 1 - The core point of the article highlights a significant outflow of funds from stock ETFs, exceeding 990 billion yuan, with broad-based ETFs collectively experiencing a net outflow of over 1 trillion yuan [2][3] - On January 21, the total net outflow from the stock ETF market (including cross-border ETFs) reached 994.94 billion yuan, with broad-based ETFs seeing a decline in scale by 940.9 billion yuan [3] - The SGE Gold 9999 index recorded the highest net inflow of 19.29 billion yuan, while the CSI 300 index faced the largest net outflow of 581.98 billion yuan on the same day [3] Group 2 - The top-performing ETFs in terms of net inflow included the Electric Grid Equipment ETF and the Chemical ETF, with net inflows of 14.38 billion yuan and 8.26 billion yuan, respectively [6][7] - Notable inflows were also observed in the Gold Stock ETF and the Semiconductor ETF, with net inflows of 5.74 billion yuan and 5.20 billion yuan, respectively [6] - The report indicates that the Electric Grid Equipment ETF and the Semiconductor ETF from Huaxia Fund saw significant inflows, reflecting investor interest in these sectors [3][4] Group 3 - The article mentions that the CSI 300 ETF and the CSI 1000 ETF were among the largest "bloodletting" ETFs, with substantial net outflows of 168.28 billion yuan and 138.52 billion yuan, respectively [5][7] - The overall market sentiment remains cautiously optimistic, with expectations for a continued upward trend in the Chinese stock market, particularly in growth sectors such as AI and industrial metals [8] - The investment strategy suggested includes focusing on core growth assets, which are currently at historical median valuations, providing potential for valuation recovery [8]

（来源：经济参考报） 1月20日，公募基金市场在申赎政策调整上出现明显分化。 一方面，中欧基金宣布恢复中欧匠心两年持有期混合基金的大额申购业务；另一方面，招商基金则对招 商招享纯债债券基金实施大额申购限制。 业内人士认为，这种"一松一紧"的政策背向而行，折射出不同品类基金面临的市场环境与投资策略的根 本性差异，也为投资者研判后市提供了重要观察窗口。 上海某中型基金公司相关人士表示："当前权益市场正处于结构性机会凸显阶段，AI驱动下存储芯片行 业进入超级周期，供需错配带动产品涨价超预期，上游半导体设备投资机会明确。基金管理人适时开放 大额申购，既能够满足投资者布局需求，也能通过规模效应优化投资成本。" 而债券型基金面临的环境则截然不同。当前10年期国债收益率已处于历史低位，信用利差持续收窄，债 券资产性价比下降。中金公司测算显示，2026年一季度居民1年期及以上定期存款到期规模将达29万亿 元。 权益与固收申赎政策分化 1月20日，中欧基金管理有限公司发布公告称，为满足广大投资者的投资需求，决定自当日起取消中欧 匠心两年持有期混合型证券投资基金的单日单个基金账户申购、转换转入及定期定额投资业务的金额限 制。该基 ...

Core Viewpoint - The stock ETF market experienced significant net outflows, exceeding 400 billion yuan on January 19, marking the third consecutive day of substantial outflows, totaling over 1.9 trillion yuan in the past three trading days [1][2]. Group 1: Market Performance - The A-share market continued its volatile trend, with the Shanghai Composite Index rising by 0.29% to 4114.00 points, while the CSI 300 Index increased by 0.05% [2]. - Trading volume in the Shanghai and Shenzhen markets decreased to 2.73 trillion yuan, with weaker performance from large-cap stocks and stronger performance from growth-style sectors [2]. Group 2: ETF Fund Flows - The total scale of all stock ETFs (including cross-border ETFs) reached 4.61 trillion yuan, with a net outflow of 418.23 billion yuan on January 19 [2]. - Industry and commodity ETFs saw net inflows of 155.04 billion yuan and 22.44 billion yuan, respectively, while broad-based ETFs experienced net outflows of 586.07 billion yuan, leading to a decrease in their scale by 694.95 billion yuan [4]. Group 3: Specific ETF Performance - The top net inflows were observed in industry ETFs, with the Huaxia Electric Grid Equipment ETF leading at over 25 billion yuan, followed by the Penghua Chemical ETF with over 11 billion yuan [6]. - Four major CSI 300 ETFs collectively saw net outflows exceeding 300 billion yuan, with the Southern CSI 1000 ETF experiencing over 50 billion yuan in outflows [5][6]. Group 4: Market Sentiment and Outlook - Analysts noted that the recent net outflows from broad-based ETFs have contributed to a cooling effect on the previously hot market, aiding in the stable operation of the A-share market [7]. - The market is expected to maintain a volatile pattern in the short term, with potential support from funds adjusting their positions, while long-term sentiment remains optimistic [7].