10月13日，COMEX黄金价格继续上行突破创新高，已突破4090美元。黄金基金ETF（518800）上涨3.02%，黄金股票ETF（514700）上涨4.15%。 来源：Wind 市场避险情绪增强。此外，美国联邦政府停摆叠加数据空窗期带来宏观不确定性的大幅提升，美国两党政治僵局加剧、财政纪律弱化在逐步侵蚀美元 作为全球储备货币的基础。这一风险因素有望继续驱动金价上行。 无论是股票ETF/LOF基金，都是属于较高预期风险和预期收益的证券投资基金品种，其预期收益及预期风险水平高于混合型基金、债券型基金和货币 市场基金。 基金资产投资于科创板和创业板股票，会面临因投资标的、市场制度以及交易规则等差异带来的特有风险，提请投资者注意。 板块/基金短期涨跌幅列示仅作为文章分析观点之辅助材料，仅供参考，不构成对基金业绩的保证。 文中提及个股短期业绩仅供参考，不构成股票推荐，也不构成对基金业绩的预测和保证。 以上观点仅供参考，不构成投资建议或承诺。如需购买相关基金产品，请您关注投资者适当性管理相关规定、提前做好风险测评，并根据您自身的风 险承受能力购买与之相匹配的风险等级的基金产品。基金有风险，投资需谨慎。 每日经济新闻 ...

Market Overview - A-shares opened significantly lower due to Trump's threat of increased tariffs but quickly narrowed the decline as panic subsided, with the Shanghai Composite Index down 0.19% and the Shenzhen Component down 0.93% at the close, with total trading volume exceeding 2.3 trillion yuan [1] - The market's reaction to the tariff disturbances was quicker than in previous instances, indicating limited adjustment space for A-shares, with potential investment opportunities in rare earths, semiconductors, and AI industries amid the backdrop of US-China decoupling [1] Mining Sector - Mining stocks experienced a strong performance, with the mining ETF rising 4.59% and the Wind Rare Earth Index soaring 9.49%, driven by China's strengthened control over rare earth resources and the approaching traditional peak demand season [3] - The rare earth industry is expected to see a rise in both volume and price due to supply-side management and increasing global demand for elements like neodymium and praseodymium, particularly in green technology applications [3] - Long-term investment logic in the mining sector remains solid, with gold prices having risen over 50% since the beginning of the year, significantly enhancing the valuation space for gold mining stocks [3] Nonferrous Metals - Several metals are poised to benefit from a shift in supply-demand dynamics, particularly copper, which is expected to transition from a "tight balance" to a "shortage" over the next two years due to supply disruptions and expanding demand [4] - The Democratic Republic of the Congo's new export quota system for cobalt is anticipated to reverse the current oversupply situation, potentially leading to a shortage and driving cobalt prices to historical highs [4] - The mining sector is supported by multiple factors, suggesting further improvements in profitability and valuation, with recommendations to focus on mining ETFs [4] Semiconductor Industry - The STAR 50 Index showed resilience, with the semiconductor equipment ETF rising 3.43%, driven by the core theme of "domestic substitution and self-control" amid ongoing US-China tensions in the semiconductor sector [5] - Recent domestic measures include antitrust investigations against Nvidia and anti-dumping investigations on US-imported chips, aimed at enhancing the security and autonomy of the domestic semiconductor industry [5] - The market for domestic semiconductor equipment remains vast, with current domestic production rates for critical processes still below 20% [5] AI and Semiconductor Equipment - Semiconductor equipment manufacturers are expected to benefit from the growing demand for AI and high-performance computing (HPC), with strong investment in advanced processes driven by AI chip demand [6] - The high demand for high-bandwidth memory and 3D NAND is likely to lead to a structural supply shortage, further boosting related equipment investments [6] - The market is shifting focus from previously hot sectors like computing and chips to upstream semiconductor equipment for potential investment opportunities [6] Gold Market - Gold prices continue to rise, recently surpassing $4,090, with gold ETFs also showing significant gains, supported by increased market uncertainty and geopolitical tensions [6][8] - The trend of central banks increasing gold reserves is ongoing, with China's reserves reaching 74.06 million ounces, marking the 11th consecutive month of increases [8] - The combination of monetary expansion, fiscal deficits, and global geopolitical instability is expected to sustain demand for gold as a safe-haven asset [8] New Energy Vehicles - The new energy vehicle ETF rose 0.75% after a recent adjustment, supported by strong demand in the lithium battery sector and significant sales growth from leading manufacturers [9] - The lithium battery industry is experiencing favorable catalysts, including increased production and strong demand forecasts for 2026, alongside improved financial metrics for lithium companies [9] - The energy storage market is also showing robust demand, with significant growth in bidding for storage systems expected in the coming years [9]

Market Overview - A-shares experienced a strong upward trend today, with all three major indices rising collectively. The Shanghai Composite Index increased by 0.90%, the Shenzhen Component Index rose by 2.05%, and the ChiNext Index gained 2.74%. Over 3,500 stocks in the market saw gains, indicating a broad-based rally [1] - The total trading volume in the Shanghai and Shenzhen markets reached 2.16 trillion yuan, reflecting active market participation. The brokerage sector saw significant gains, while the new energy and non-ferrous metals sectors also performed well [1] Policy and Economic Outlook - The National Development and Reform Commission (NDRC) indicated that macroeconomic policies will be implemented more forcefully as needed. The current market activity remains robust, and with domestic policy support, the expectation for economic recovery is strong. This suggests a continued upward trend for A-shares in the medium to long term [1] New Energy Sector - The New Energy Vehicle ETF (159806) rose by 4.42%, driven by favorable policies for solid-state batteries. The government has proposed to accelerate the application verification of solid-state battery materials [2] - In the first half of the year, global energy storage cell shipments reached 226 GWh, a 97% increase, with domestic orders exceeding 160 GWh, marking a 220% rise. The demand for domestic energy storage cells is robust, with leading battery manufacturers operating at full capacity [2] - By 2027, China's new energy storage installed capacity is expected to exceed 180 million kilowatts, potentially driving new project investments of approximately 250 billion yuan [2] Lithium Battery Sector - Lithium battery companies have shown quarterly improvements in revenue, profit, and cash flow. The capacity utilization rate of leading battery manufacturers reached 89.9% in the first half of the year [3] - The demand recovery and capital expenditure in downstream sectors indicate a potential turning point for lithium battery equipment, with expectations for improved profitability and valuation in the sector [3] Gold Market - The gold market is positively influenced by the Federal Reserve's recent interest rate cuts and ongoing geopolitical tensions. The price of gold has reached new highs, with COMEX gold prices touching 3849 [4] - The potential for a U.S. government shutdown could further drive gold prices upward, alongside the Fed's dovish stance and global macroeconomic uncertainties [4] Securities Sector - The Securities ETF (512280) increased by 5%, supported by active trading and positive earnings expectations for brokerage firms. The trading volume in A-shares has seen a year-on-year increase of 206% since September [5] - The securities sector has underperformed major indices recently, providing a rebound opportunity due to valuation corrections. Institutional funds are expected to shift towards this sector in the fourth quarter, potentially driving further gains [6]