| 代码 | 名称 | 最新 | 涨幅% ↑ | | --- | --- | --- | --- | | 517900 | 银行AH优选ETF | 1.498 | -2.22 | | 159502 | 标普生物科技ETF | 1.302 | -2.11 | | 513290 | 纳指生物科技ETF | 1.534 | -1.60 | | 515880 | 通信ETF | 3.096 | -1.50 | | 159994 | 5GETF | 1.888 | -1.10 | | 159363 | 创业板人工智能ETF华宝 | 1.009 | -1.08 | 上证报中国证券网讯 1月6日，ETF午间收盘涨跌不一，香港证券ETF易方达（513090）领涨4.46%，有 色矿业ETF招商（159690）涨4.43%，工业有色ETF（560860）涨4.42%，银行AH优选ETF（517900）领 跌2.22%，标普生物科技ETF（159502）跌2.11%，纳指生物科技ETF（513290）跌1.6%。 | 代码 | 名称 | 最新 | 涨幅% ↓ | | --- | --- | --- | --- | | 51309 ...

银行板块走低，银行AH优选ETF跌2.22%。标普生物科技ETF和纳指生物科技ETF分别跌2%和 1.6%。CPO板块回调，通信ETF、5GETF分别跌1.5%和1.1%。 （责任编辑：郭健东 ） 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com A股三大指数早盘涨跌不一，截至午盘，沪指涨1.14%，突破前高，再创10年来新高，深成指涨 0.81%，创业板指跌0.04%，北证50指数涨0.86%，沪深京三市半日成交额17961亿元，较上日放量1472 亿元。全市场超3600只个股上涨。板块题材上，脑机接口、化学化工、有色金属、保险、证券、半导 体、光伏设备板块涨幅居前；CPO、铜缆高速连接等AI硬件股表现落后。 ETF方面，金融股全线上攻，香港证券ETF易方达、广发基金港股通非银ETF分别涨4.46%、 3.97%。有色板块继续狂欢，有色矿业ETF招商、万家基金工业有色ETF分别涨4.43%和4.42%。半 ...

Core Viewpoint - The public fund industry has witnessed a record-breaking annual return, with Yongying Technology Smart Selection achieving a total return of 233.29%, surpassing the previous record held by Wang Yawei for 18 years [1][6]. Group 1: Fund Performance - Yongying Technology Smart Selection, managed by Ren Jie, secured the top position in the 2025 public fund rankings with a return of 233.29% [3][6]. - The second place was taken by Zhonghang Opportunity Navigation, managed by Han Hao, with a return of 168.92% [3][4]. - The third place was claimed by Hongtu Innovation Emerging Industry, managed by Liao Xinghao, with a return of 148.64% [3][4]. - A total of 90 funds achieved returns exceeding 100% in 2025, with 75 of these being actively managed equity funds, indicating a highly competitive environment [9]. Group 2: Market Trends - The A-share market saw all major indices rise, with the Shanghai Composite Index increasing by 18.41% and the ChiNext Index leading with nearly 50% annual growth [2]. - The total market capitalization of A-shares reached a new high of nearly 109 trillion yuan [2]. - Various sectors experienced active market trends, with robotics, innovative pharmaceuticals, and hard technology sectors leading the charge [2]. Group 3: Fund Management Insights - The success of Yongying Technology Smart Selection is attributed to its concentrated holdings in high-performing sectors, particularly in CPO, with top ten holdings accounting for 73.25% of the fund's net value [8]. - The fund's top four holdings saw significant gains, with the first holding, Xinyi Sheng, increasing by 187.96% in the fourth quarter [8]. - The active management capabilities of funds have allowed them to outperform passive index products in a volatile market [3]. Group 4: ETF Market Developments - The ETF market in China reached a total scale of 6.03 trillion yuan in 2025, marking a significant increase from 3.73 trillion yuan at the beginning of the year [10]. - The top-performing ETFs included the Guotai Communication ETF with a return of 125.81% and the Guotai Communication Equipment ETF with 121.37% [10][14]. - Gold-themed ETFs also performed well, with several funds achieving returns exceeding 90% [12]. Group 5: Fixed Income + Fund Growth - The "Fixed Income +" strategy saw substantial growth, with the total scale of related funds reaching 2.52 trillion yuan, a 50% increase from the end of 2024 [15]. - The median return for fixed income + funds in 2025 was 10.2%, with the top performer, Southern Changyuan Convertible Bond, achieving a return of 48.77% [16][18].

2025 年 12 月 21 日 证券研究报告 | 策略周报 继续耐心布局高景气 策略周报 分析师：郝一凡 分析师登记编码：S0890524080002 电话：021-20321080 邮箱：haoyifan@cnhbstock.com 分析师登记编码：S0890524100002 电话：021-20321091 邮箱：liufang@cnhbstock.com 021-20515355 相关研究报告 1、《由守转攻，布局高景气方向等风起 —策略周报》2025-12-07 2、《全球共振高位调整，耐心等待情绪 企稳 —策略周报》2025-11-23 3、《沪指围绕 4000 点震荡整固，轮动 有所加快 —策略周报》2025-11-09 4、《波动再度放大，如何应对？ —策略 周报》2025-10-12 5、《长假期间国内外大事一览—策略周 报》2025-10-09 投资要点 分析师：刘芳 【债市方面】做多情绪有所回升，但仍以震荡思维对待。年末市场利空或已 被充分计价，在收益率处于近期偏高水平的阶段，市场做多情绪有所回升，对 降息、公募基金费率新规落地的预期回暖。但当前债市利好落地后兑现速度较 快，预计 10 ...

【导读】周二股票ETF资金净流出超63亿元 本周二（12月9日），A股市场继续震荡调整，三大指数涨跌不一，沪深两市成交1.92万亿元。 市场调整下，部分资金选择落袋为安。周二全市场股票ETF（含跨境ETF）资金净流出超63亿元，医药、恒生科技、红利、有色金属、中概互联等相关 ETF净流入靠前。 这也是本周连续第二个交易日资金净流出，两天合计"失血"超百亿元。 通信、人工智能相关ETF领涨 市场调整，部分资金选择落袋为安。数据显示，12月9日股票ETF市场总份额减少22.81亿份，按照成交均价测算，当日净流出资金达63.49亿元。 若从全市场情况来看，12月9日资金净流出65.9亿元，其中港股市场ETF与债券ETF净流入居前，分别达24.8亿元与11.24亿元；宽基ETF净流出居前，达 63.46亿元；规模变化方面，宽基ETF规模下降167.32亿元。 易方达数据显示，当日资金流入前五板块为医药（净流入10.1亿元）、恒生科技指数（净流入8.9亿元）、红利（净流入7.8亿元）、有色金属（净流入5.9 亿元）、中概互联（净流入3.9亿元）。 数据显示，截至12月9日，全市场1272只股票ETF总规模达4.60万亿 ...

没有光（模块）的港股今日继续下挫，恒生科技指数跌近2%，而带动A股昨日重返2万亿成交额的CPO板块继续大爆发！中际旭创、德科立、天孚通信等 批量新高。 "AI算力含量高"的ETF再一次屠榜，通信ETF涨3%，5G50ETF、5GETF、创业板人工智能ETF均涨超2%。 当下，市场对人工智能重新达成共识了？ 1 达利欧：不要因为AI估值过高就急于退出 | 序号 | 证券代码 | 证券简称 | 当日涨幅% | 年涨跌幅% | 童我最强人 | | --- | --- | --- | --- | --- | --- | | 1 | 215880 | 通信ETF | 3.09 | 122.29 | 国泰县金 | | 2 | 159811 | 5G50ETF | 2.93 | 80.03 | 博时基尖 | | 3 | 159994 | 5GETF | 2.85 | 95.53 | 销花童等 | | 4 | 159382 | 创业板人工智能ETF南方 | 2.83 | 104.57 | 南方基金 | | 5 | 159388 | 创业板人工智能ETF国泰 | 2.82 | 104.69 | 国泰县金 | | 6 | 159 ...

Group 1 - The ETF market showed mixed performance at midday on December 9, with 5G50ETF (159811) leading gains at 3.48% [1][3] - 5GETF (159994) increased by 3.41%, while the Huashan AI ETF (159279) rose by 3.39% [1][3] - The worst performers included the Nonferrous 50 ETF (159652), which fell by 2.86%, and the Gold Stock ETF (517520) and Gold Stocks ETF (517400), which dropped by 2.78% and 2.75% respectively [1][3] Group 2 - The top gainers in the ETF market included Communication ETF (515880) with a rise of 3.37%, and several other AI ETFs, such as Guotai (159388) and Southern (159382), which increased by 3.33% and 3.32% respectively [2][4] - The decline in the Nonferrous 50 ETF (159652) was notable, alongside other gold-related ETFs, indicating a potential shift in investor sentiment towards these sectors [2][4]

有券商表示，AI可能是自云计算以来最大的产业机会。从硬件层面看，除GPU保持较快增速之外，ASIC可能在明年成为第二增长引擎，北美 算力产业链条业绩有望在后续几个季度保持较高增速。从需求端看，北美云厂商云收入增长和资本开支投入形成共振，人工智能闭环清晰， 发展仍处上升通道。 当前AI趋势明确，国内外云厂商资本开支高增，通信板块作为"卖铲子"的算力行业，市场规模有望持续增长。 通信概念股走强，胜宏科技涨超9%，中际旭创、工业富联涨超6%，新易盛、剑桥科技涨超4%。 受盘面影响，通信、5G相关ETF涨超3%。 | 代码 | 类型 名称 | 现价 | 涨跌 | 涨跌幅 ▼ | | --- | --- | --- | --- | --- | | 515880 | 主 通信ETF | 3.042 | 0.101 | 3.43% | | 159811 | 主 5G50ETF | 2.254 | 0.073 | 3.35% | | 159994 | 主 5GETF | 1.845 | 0.058 | 3.25% | | 515050 | H 5G通信ETF | 2.253 | 0.066 | 3.02% | | 15958 ...

证券之星消息，12月2日，5GETF（159994）融资买入370.84万元，融资偿还244.22万元，融资净买入 126.62万元，融资余额1978.1万元，近3个交易日已连续净买入累计299.96万元，近20个交易日中有12个 交易日出现融资净买入。 融资融券：融资就是证券公司借钱给投资者买股票，到期将本金和利息一同还了就行，融券可以理解成 是投资者借股票来卖的意思，到期把股票还回来并支付利息。一般来说，投资者会出于看好股价而融资 买入股票，看空股价而融券卖出股票。 融券方面，当日无融券交易。 融资融券余额2602.25万元，较昨日上涨5.15%。 小知识 | 交易日 | 融资净买入(元) | 融资余额(元) | 占流通市值比 | | --- | --- | --- | --- | | 2025-12-02 | 126.62万 | 1978.10万 | | | 2025-12-01 | 128.38万 | 1851.48万 | | | 2025-11-28 | 44.96万 | 1723.10万 | | | 2025-11-27 | -183.75万 | 1678.14万 | | | 2025-11-26 ...

Market Overview - The stock market experienced a rebound during the week of November 24-28, 2025, with major indices showing positive performance: Shanghai Composite Index up 1.40%, Shenzhen Component Index up 3.56%, and ChiNext Index up 4.54% [1] - Trading volume remained low, with daily turnover around 1.8 trillion, indicating weak enthusiasm from external investors [1] - The market showed a trend of small-cap stocks outperforming larger ones, with gains increasing from the CSI 300 to the CSI 2000 [1] ETF Performance - Growth sectors saw significant rebounds, with the top-performing ETFs showing gains over 10%: S&P Biotechnology ETF up 12.04% and NASDAQ Biotechnology ETF up 10.43% [2] - The average gain for all ETFs was 2.42%, driven by a rebound in sectors like CPO and telecommunications [2] - The top ten ETFs by gain were all related to growth sectors, indicating a strong recovery in previously popular themes [2] Fund Flow Trends - Overall, there was a net outflow of 279.76 billion, with stock ETFs experiencing a significant outflow of 362.95 billion [6] - In contrast, money market ETFs and cross-border ETFs saw net inflows, indicating a shift towards safer investments [6] - The top inflow ETFs included the Huabao Qiyi ETF with 36.91 billion and the Benchmark Treasury ETF with 29.45 billion [8] Economic Indicators - Fiscal revenue showed a year-on-year increase of 3.16%, driven by higher tax income, while land transfer income continued to decline [5] - General fiscal expenditure fell by 9.78%, reflecting a significant drop compared to the previous month [5] - The real estate sector remains under pressure, with calls for new policies to stimulate the market [5] Upcoming ETF Listings - Two new ETFs are set to launch next week: Penghua Hang Seng Technology ETF and E Fund CSI A500 Dividend Low Volatility ETF, both targeting specific growth and dividend strategies [11][12] - The Hang Seng Technology ETF will focus on major tech stocks in Hong Kong, while the A500 Dividend ETF aims to provide stable returns through high dividend-paying stocks [11][12]