Core Viewpoint - The A-share market has experienced a five-day winning streak, with the Shanghai Composite Index closing at 3399.77 points, up 0.43%, briefly surpassing the 3400-point mark [1] Group 1: Market Performance - The A500 Index ETF (159351) closed up 0.41%, with a total trading volume of 2.747 billion yuan, ranking second among similar products in the market [1] - The A500 Index ETF saw a net subscription of over 30 million units today, ranking first among similar products in the Shenzhen market [1] - Key stocks such as Jianghuai Automobile hit the daily limit, while AVIC Shenyang Aircraft, Tianfu Communication, and others rose over 9% [1] Group 2: Institutional Insights - Brokerage institutions believe that a synchronized economic cycle between China and the U.S. may bring upward elasticity to the macroeconomic fundamentals, benefiting high-quality core assets [1] - The market is expected to enter a trend-driven phase for core assets due to three favorable factors: resilience in fundamentals, relatively reasonable valuations, and ample liquidity [1] - Foreign institutions suggest that the stabilization of the RMB exchange rate and policy stimulus may drive the revaluation of Chinese assets [1] Group 3: A500 Index ETF Overview - The A500 Index ETF tracks the CSI A500 Index, composed of 500 stocks with large market capitalization and good liquidity, providing a balanced industry distribution and favoring large and mid-cap styles [2] - The ETF includes a high proportion of new productive forces, offering investors a tool to allocate to representative A-share companies [2] - Investors can also access the A500 Index ETF through linked funds (Class A 022453; Class C 022454) to capitalize on the upward opportunities of quality core assets [2]

Group 1 - The A-share market experienced a four-day winning streak in June, with the Shanghai Composite Index closing at 3385.36 points, up 0.04% [1] - The A500 Index ETF (159351) showed strong performance, with a total trading volume of 2.769 billion yuan and a turnover rate of 18.82%, both ranking first among similar products in the market [1] - The People's Bank of China (PBOC) conducted a buyout reverse repurchase operation for the first time at the beginning of the month, injecting 1 trillion yuan into the banking system for a period of three months (91 days) [1] Group 2 - The A500 Index ETF tracks the CSI A500 Index, consisting of 500 stocks with large market capitalization and good liquidity, providing a balanced industry distribution and favoring large and mid-cap styles [2] - Investors can access quality core asset opportunities through the A500 Index ETF linked funds (Class A 022453; Class C 022454) [2]

Group 1 - The A-share market opened positively in June, with the Shanghai Composite Index closing at 3361.98 points, up 0.43% [1] - The A500 Index ETF (159351) experienced a slight decline of 0.31% during the day but saw a net subscription of 45 million units [1] - The A500 Index ETF recorded a total trading volume of 2.79 billion yuan, ranking second among similar products in the market and first in the Shenzhen market, with a turnover rate of 18.93% [1] Group 2 - In May, the National Press and Publication Administration approved 130 domestic and 14 imported online games, totaling 144 approvals, setting a new monthly record in nearly two years [1] - Major gaming industry stocks surged following the news, with Changyou Technology rising over 14%, Giant Network nearly 7%, and Perfect World over 5% [1] - Pharmaceutical stocks also maintained strong performance, with Huahai Pharmaceutical and Betta Pharmaceuticals both increasing over 7% [1] Group 3 - Short-term market dynamics are influenced by a mix of internal and external factors, but policy support, profit recovery, and the attractiveness of RMB assets provide a foundation for stability [1] - Investment strategies are recommended to focus on "core assets as a shield and technology growth as a spear," while paying attention to policy implementation and industry catalysts in June [1] Group 4 - The A500 Index ETF (159351) tracks the CSI A500 Index, consisting of 500 stocks with large market capitalization and good liquidity, providing a tool for investors to access representative A-share companies [2] - Investors can also consider the A500 Index ETF linked funds (Class A 022453; Class C 022454) to capitalize on the upward potential of quality core assets [2]

Group 1 - The A-share market experienced a significant rebound on May 29, with the Shanghai Composite Index closing at 3363.45 points, up 0.70% [1] - The A500 Index ETF (159351) saw a notable increase of 0.94%, with a closing premium of 0.13% [1] - The A500 Index ETF recorded a trading volume of 2.665 billion yuan, ranking second in the market for similar products, with a turnover rate of 18.26% [1] - Key stocks within the A500 Index ETF included Desay SV, which hit the daily limit, and Junshi Biosciences and Guangqi Technology, both rising over 7% [1] - The A500 Index ETF achieved a net subscription of 20.4 million shares, marking seven consecutive trading days of net inflows, with a year-to-date growth of 15.53%, the highest among similar products [1] Group 2 - The A500 Index ETF tracks the CSI A500 Index, comprising 500 stocks with large market capitalization and good liquidity, providing a balanced industry distribution and favoring large and mid-cap styles [2] - The ETF includes a high proportion of new productive forces, offering investors a tool to allocate to representative A-share companies [2] - Investors can access quality core asset opportunities through the A500 Index ETF linked funds (Class A 022453; Class C 022454) [2] Group 3 - CITIC Securities expressed an optimistic view on the current optimization of the Chinese capital market ecosystem, suggesting that the attractiveness of Chinese assets is on the rise [1] - There is an expectation for further stabilization of market confidence, with a more coordinated investment and financing environment and improved investor protection gradually forming [1] - Looking ahead, Chinese equity assets are anticipated to experience a significant market trend over the next year [1]

Core Viewpoint - The A-share market is experiencing a continued volume contraction and slight adjustments, with the A500 Index ETF showing resilience and attracting significant investment interest [1] Market Performance - The Shanghai Composite Index closed at 3339.93 points, down 0.02% - The A500 Index ETF (159351) saw a minor decline of 0.21% but recorded a trading volume of 2.533 billion yuan, ranking second in the market for similar products and first in the Shenzhen market [1][1] - The turnover rate for the A500 Index ETF reached 17.46%, the highest among its peers [1] Sector Performance - Consumer and technology sectors showed strong performance, with Dongpeng Beverage rising by 6.30% to reach a historical high - In the technology sector, stocks such as Newyeason and Yanshan Technology increased by over 6%, while Huace Navigation rose by over 5% [1][1] Investment Trends - The A500 Index ETF has demonstrated significant value, with a net subscription for six consecutive trading days and a year-to-date share growth of 15.48%, leading its category [1][1] - Brokerage firms suggest that the market's short-term volatility will continue, with a shift in preference towards more certain investment options, particularly in technology innovation and domestic consumption [1][1] Index Composition - The A500 Index ETF tracks the CSI A500 Index, comprising 500 stocks with large market capitalization and good liquidity, offering a balanced industry distribution and a focus on mid-to-large cap stocks [1][1] - The index includes a high proportion of new productive forces, providing investors with a tool to access representative A-share companies [1][1] Investment Opportunities - Investors can access quality core asset opportunities through the A500 Index ETF linked funds (Class A 022453; Class C 022454) [1][1]

Group 1 - The A-shares market experienced a slight upward trend, with the Shanghai Composite Index closing at 3387.57 points, up 0.21% [1] - The A500 Index ETF (159351) saw a trading volume of 2.411 billion yuan, ranking second in the market for similar products, with a turnover rate of 16.80% [1] - Major constituent stocks of the A500 Index ETF performed well, with significant increases in share prices, including a 4.21% rise for CATL and a 1.32% rise for BYD, both reaching new highs [1] Group 2 - The A500 Index ETF (159351) tracks the CSI A500 Index, consisting of 500 stocks with large market capitalization and good liquidity, providing a tool for investors to access representative A-share companies [2] - The A500 Index ETF has seen a net subscription of 24 million shares, indicating strong investor interest [1] - Analysts believe that the revaluation of Chinese assets may just be beginning, with the potential for significant opportunities in the A-share market supported by positive fiscal and monetary policies [1]

Core Viewpoint - The A-share market experienced a rebound on May 20, with the Shanghai Composite Index closing at 3380.48 points, up 0.38%, driven by a decrease in LPR rates and positive economic outlooks from the National Bureau of Statistics [1] Group 1: Market Performance - The A500 Index ETF (159351) ended its adjustment with a rebound, closing with a gain of 0.62% and a slight premium of 0.01% [1] - The A500 Index ETF recorded a trading volume of 2.393 billion yuan, ranking second in the market among similar products, with a turnover rate of 16.72%, also second in the market [1] - Key stocks such as Aofei Entertainment, Huahai Pharmaceutical, and O-film Technology hit the daily limit, while Xintai rose nearly 8%, and others like Jinchengxin, Tigermed, and SF Holding increased over 6% [1] Group 2: Economic Indicators - The People's Bank of China announced a reduction in the 1-year LPR by 10 basis points to 3.00% and the 5-year LPR by 10 basis points to 3.50%, marking the first cut of the year [1] - Huachuang Securities indicated that this move will lower corporate financing costs, improve profit expectations, and potentially drive a stock market rebound [1] - The National Bureau of Statistics reaffirmed the long-term positive fundamentals of China's economy, highlighting coordinated macro policies and continued growth in innovative momentum [1] Group 3: Investment Opportunities - Brokerage firms suggest focusing on the recovery of domestic demand and sectors with high technological prosperity [1] - The easing of US-China tariffs, along with policies to attract long-term capital into the market, is expected to further boost market confidence [1] Group 4: A500 Index ETF Overview - The A500 Index ETF (159351) tracks the CSI A500 Index, composed of 500 stocks with large market capitalization and good liquidity, providing a balanced industry distribution and favoring large and mid-cap styles [2] - Investors can access quality core asset opportunities through the A500 Index ETF linked funds (Class A 022453; Class C 022454) [2]

盘面上，A500指数ETF（159351）成交活跃，截至下午1：30时间，成交突破20亿元，成交额位居全市 场同类第二，深市同类第一；换手率超14.47%，位居全市场同类第一。资金方面，A500指数ETF （159351）近5日资金净流入超3.5亿元，位居同类第二。 每经编辑｜曾子建 5月15日，A股市场震荡回落，沪指跌破3400点，上午休市时报3389.75点，跌幅0.42%。场内热门宽基 标的A500指数ETF（159351）随大盘回落，截至发稿前回落约0.80%。 此外，近期，险资通过多种方式持续加大权益投资力度。券商机构认为，险企将继续加大权益投资，提 升投资弹性，同时，随着更多险资机构积极争取长期股票投资试点，上市公司市值波动对当期利润表的 影响有望减小，逐步达到"长期资金入市+平滑利润表波动"的平衡。整体来看，险资有望逐步增加对中 证A500指数（侧重科技和新兴产业龙头）成分股的配置。 A500指数ETF（159351）跟踪中证A500指数，由各行业市值较大、流动性较好的500只股票组成，行业 分布均衡，偏向大中盘风格，且新质生产力成分占比较高，为投资者配置A股代表性公司提供了工具。 场外投资者可 ...

Group 1 - The A-share market showed a slight adjustment with the Shanghai Composite Index closing at 3342 points, down 0.30% [1] - The A500 Index ETF (159351) experienced a small decline of 0.31%, with a total trading volume of 2.359 billion yuan, ranking third among similar products in the market [1] - The A500 Index ETF (159351) achieved a turnover rate of 16.40%, ranking second in the market, indicating optimistic future expectations from investors [1] Group 2 - According to the latest data, the consumer market is warming up, with listed companies achieving a net profit of 1.49 trillion yuan in Q1 2025, a year-on-year increase of 3.55% and a quarter-on-quarter increase of 89.71% [1] - The A500 Index ETF (159351) tracks the CSI A500 Index, consisting of 500 large-cap, liquid stocks across various industries, providing a balanced investment tool for A-share representative companies [2] - Despite external macro uncertainties, the core assets represented by the CSI A500 Index stocks show strong resilience, benefiting from economic recovery and industrial upgrades, presenting structural investment opportunities [2]

Group 1 - The A-share market continues its upward trend, with the Shanghai Composite Index closing at 3352 points, up 0.28%, marking the highest closing level since March 28 [1] - The A500 Index ETF (159351) has experienced a strong four-day rally, closing with a gain of 0.73% and reaching a near one-month high [1] - The A500 Index ETF (159351) saw a trading volume of 2.575 billion yuan, ranking second in the market for similar products, with a turnover rate of 17.94%, also second in the Shenzhen market [1] Group 2 - The A500 Index ETF (159351) received a net subscription of 11.3 million shares today, ranking first among similar products in the Shenzhen market, with over 20 million shares net subscribed in the last three trading days [1] - The aerospace and military industry continues to perform strongly, with AVIC Chengfei hitting a 20% limit-up [1] - Leading companies in the optical module sector, such as NewEase and Zhongji Xuchuang, saw gains exceeding 10%, while Tianfu Communication rose over 7% [1] Group 3 - The central bank conducted a 158.6 billion yuan reverse repurchase operation with a rate cut of 10 basis points to 1.40%, resulting in a net injection of 158.6 billion yuan [1] - Brokerages believe that the liquidity easing policy directly boosts market risk appetite, supported by recent monetary policy measures like reserve requirement ratio cuts and interest rate reductions [2] - The focus of future policies is expected to shift towards expanding domestic demand and implementing fiscal measures to stimulate consumption, further strengthening market recovery expectations [2]