中信证券表示，对A股而言，稳健回报导向的绝对收益资金持续入市在增强市场的内在稳定性，在 增量资金越来越多的以左侧稳健型资金为主的资金生态下，A股/港股未来可能更多地像美股一样出 现"急跌慢涨"。对需要增配权益的投资者而言，当下风险的提前释放给了年末重新增配A股/港股、布局 2026年的契机。 天风证券指出，A股盈利周期底部拐点或已迈，25Q3盈利指标回升概率较大，A股盈利底渐明，展 望2026，基本面角度盈利复苏弹性或更值得关注。25年中报以来，A股盈利指标逐渐底部企稳，三季度 全A两非EPS同比降幅收窄，ROE的企稳反弹迹象也较为明确，盈利能力角度关键指标正蓄势向上。随 着"反内卷"、提升内需等政策在供需两端的发力，A股盈利周期有望更进一步，从稳预期走向扩弹性， 从估值修复到基本面驱动的攻坚牛。 11月26日，A股光模块、消费电子、服务器等概念持续走强。受权重板块带动，截止13点37分， A500ETF基金（512050）上涨0.88%，成交额超46亿元，居可比基金第一。盘面上，持仓股中际旭创、 迈为股份、沪电股份、新易盛、天孚通信等领涨。资金加速布局A股核心资产，近10日，A500ETF基金 （51205 ...

Group 1 - The A-shares market experienced a low opening adjustment influenced by external market sentiment, with the A500 ETF (512050) dropping over 2% at the start and recovering slightly to a decline of 1.83% by 1:44 PM, with significant declines in holdings such as Tianhua New Energy down over 18% and others like Xingyuan Material and Rongbai Technology down over 10% [1] - Despite recent market fluctuations due to decreased expectations of overseas liquidity and concerns over a technology bubble, the A-shares market is expected to recover in the long term, supported by multiple advantages in policy, capital, and industry [1] - CICC forecasts that Chinese stocks will continue to benefit from the AI technology wave and ample liquidity, with reasonable valuations, although increased volatility may be seen towards the end of the year, and no signals of a bull market peak have been observed [1] Group 2 - The new generation core broad-based A500 ETF (512050) assists investors in allocating to core A-share assets and efficiently capturing market growth dividends, precisely tracking the CSI A500 Index with a dual strategy of "industry balanced allocation + leading selection" [2] - The ETF emphasizes sectors such as the AI industry chain, pharmaceuticals, electric grid equipment, and new energy, forming a natural barbell investment structure [2] - Key highlights of the fund include a low fee rate (comprehensive fee rate of 0.2%), ample liquidity (average daily trading volume exceeding 5 billion in the past month), and a leading scale (over 19 billion), making it an efficient investment choice to seize A-share valuation enhancement opportunities [2]

Group 1 - The A-shares market experienced a decline on November 17, with the A500 ETF (512050) dropping by 0.60% and a trading volume exceeding 3.5 billion yuan, ranking first among its peers [1] - Key sectors showing strong performance included lithium mining, cross-strait integration, aquaculture, lithium extraction from salt lakes, and operating systems, with stocks like Rongbai Technology, 360, and Yahua Group hitting the daily limit [1] Group 2 - The A500 ETF (512050) saw a net inflow of over 2.8 billion yuan in the past 20 days, indicating strong investor interest in core assets [2] - Long-term funds such as public funds, insurance funds, and pension funds are increasingly entering the capital market, contributing to market stability and healthy development [2] - As of the end of Q3 this year, actively managed equity funds held a market value of 2.99 trillion yuan in A-shares, with stock positions rising to 85.62%, the highest level since 2005 [2] Group 3 - The A500 ETF (512050) offers investors a convenient way to invest in core A-share assets, benefiting from low fees (only 0.2%), good liquidity (average daily trading volume over 5 billion yuan), and a large scale (over 19 billion yuan) [3] - The ETF tracks the CSI A500 Index and employs a dual strategy of industry balanced allocation and leading stock selection, covering all 35 sub-industries and integrating value and growth attributes [3] - Compared to the CSI 300, the A500 ETF is overweight in sectors such as AI industry chain, pharmaceutical biology, and electric equipment in new energy, providing a natural "barbell" investment strategy [3]

Group 1 - The A-share market saw a strong rebound in sectors such as lithium batteries, lithium mining, power batteries, and photovoltaics, driven by heavyweight sectors, with the A500 ETF fund rising by 0.94% and trading volume exceeding 2.3 billion yuan [1] - The Chinese Photovoltaic Industry Association refuted false rumors affecting the new energy sector, emphasizing the need for careful decision-making and commitment to defending national and industry interests against malicious actions [1] - CICC forecasts a more balanced market style in A-shares by 2026, driven by a three-year capacity reduction cycle and policies promoting "anti-involution," leading to a closer supply-demand balance in cyclical industries [1] Group 2 - The new generation core A500 ETF fund (512050) and A500 enhanced ETF fund (512370) assist investors in strategically allocating to core A-share assets, capitalizing on valuation uplift [2] - The ETF tracks the CSI A500 Index, employing a dual strategy of industry balanced allocation and leading stock selection, covering all 35 sub-industries and integrating value and growth attributes [2] - Compared to the CSI 300, the A500 ETF is overweight in new productivity sectors such as AI, pharmaceuticals, electric equipment, new energy, and national defense, showcasing a natural barbell investment strategy [2]

（文章来源：每日经济新闻） 临近岁末春季行情，资金抢筹A股核心资产热情高涨，近5个交易日，同类最活跃A500ETF基金 （512050）累计吸金5.5亿元，近10个交易日，该ETF获得超24亿元资金净申购。 中信证券A股市场2026年投资策略表示，展望2026年，从大势研判来看，A股全球营收敞口企业已不局 限于少数公司，而是足以推动整个A股的行情，未来A股的基本面要放在全球市场需求去看，而不是单 看本土需求。在此框架下，中美格局决定了行情的节奏和顺畅程度，两个节点（中美签署贸易协议、美 国中期选举）可能将2026年的行情划为三段，中美签署协议后到美国中期选举前，中美格局相对最稳 定，这个阶段是做多权益市场的黄金期。 11月11日，A股主要指数高开后回落，沪指在4000点上方震荡蓄力，盘面上培育钻石、电池、光伏等概 念走强，截至10：16，A500ETF基金（512050）跌0.34%，盘中成交额快速突破9.6亿元位居同类第一。 持仓股中，华侨城A、三星医疗、方大炭素涨停，迈为股份、鹏辉能源、兴森科技等表现活跃。 ...

Group 1 - A-shares opened slightly higher on November 10, with active performance in sectors such as lithium batteries, chemical raw materials, and memory chips [1] - The A500 ETF fund (512050) saw a net subscription of 2.768 billion yuan over the past 10 trading days, indicating accelerated capital allocation towards core A-share assets [1] - The National Bureau of Statistics reported a 0.2% month-on-month and year-on-year increase in CPI for October, with core CPI (excluding food and energy) rising 1.2% year-on-year, marking the sixth consecutive month of growth [1] Group 2 - Galaxy Securities anticipates that the hidden main line in the A-share investment landscape may be the themes unfolding in the year-end market, suggesting a buildup for a new upward trend [2] - The third-quarter reports of listed companies demonstrate resilience in fundamentals, with notable structural highlights [2] - The "14th Five-Year" plan emphasizes high-quality development and technological self-reliance, aiming to enhance macroeconomic governance effectiveness [2]

Group 1 - The A-share market showed strong performance, with the Shanghai Composite Index surpassing 4000 points, and the A500 ETF (512050) closing up 1.55% with a trading volume of 5.252 billion yuan, attracting over 700 million yuan in the past five trading days [1] - The third-quarter reports of A-shares indicate a recovery trend in performance, with cumulative revenue growth of 1.21% year-on-year and cumulative net profit growth of 5.34% year-on-year for the first three quarters of 2025, reflecting improved overall profitability and stable operating cash flow [1] - Guangfa Securities highlighted that the earnings recovery trend is clear, with structural highlights in technology, finance, and certain manufacturing and resource sectors, suggesting a balanced investment strategy in the fourth quarter [1] Group 2 - The A500 ETF (512050) tracks the CSI A500 Index, employing a dual strategy of industry balanced allocation and leading stock selection, covering all 35 sub-sectors and integrating value and growth attributes [2] - Compared to the CSI 300, the A500 ETF is overweight in new productivity sectors such as AI, pharmaceuticals, and renewable energy, providing a natural "barbell" investment approach [2]

Group 1 - The Shanghai Composite Index opened high and rose again, surpassing 4000 points, with sectors like phosphorus chemicals, optical modules, industrial metals, and optical chips leading the gains [1] - As of 13:18, the A500 ETF (512050) increased by 1.29%, with a trading volume exceeding 4.3 billion yuan, ranking first among its peers [1] - Year-to-date, the A500 ETF has achieved a cumulative increase of over 24%, outperforming the CSI 300 Index by more than 5 percentage points [1] - In the past 10 days, the ETF has seen a net inflow of over 2.4 billion yuan [1] Group 2 - The new generation core A500 ETF (512050) and A500 Enhanced ETF (512370) assist investors in easily allocating to core A-share assets [2] - The ETF tracks the CSI A500 Index, employing a dual strategy of industry balanced allocation and leading stock selection, covering all 35 sub-sectors [2] - Compared to the CSI 300, the ETF is overweight in new productivity sectors such as AI industry chain, pharmaceutical biology, electric equipment, new energy, and national defense [2]

11月5日，A股早盘低开高走，午后继续拉升，大三指数全线翻红。板块上，电网设备概念股爆发，泛 消费概念股走强，半导体、量子科技等跌幅居前。A500ETF基金（512050）随市场上涨，截至13:29， 上涨0.17%，持仓股中，亿纬锂能涨近8%，阳光电源涨超5%。 新一代核心宽基A500ETF基金（512050）助力投资者一键布局A股核心资产。该ETF所跟踪中证A500指 数，采取行业均衡配置与龙头优选双策略，中证全部35个细分行业全覆盖，融合价值与成长属性，相比 沪深300，超配AI产业链、医药生物、电力设备新能源、国防军工等新质生产力行业，具备天然的哑铃 投资属性。场外联接（A类：022430；C类：022431）。 （文章来源：每日经济新闻） 资金积极交易核心资产。A500ETF基金（512050）午后成交额迅速超过40亿元，大幅领先同类。拉长时 间看，截至11月4日，A500ETF基金（512050）近一周日均成交52.35亿元，排名可比基金第一，近两周 A500ETF基金（512050）规模大幅增长20.13亿元。 展望后市，东吴证券表示，风格切换的预期下，短期建议偏均衡配置，以应对风格切换期的市场 ...

Group 1 - A-shares experienced a slight rise at the opening but began to decline, with over 3600 stocks closing lower; A500ETF fell by 0.94% with a trading volume of 4.827 billion yuan, ranking first in comparable metrics [1] - The banking sector showed resilience, with stocks like China Merchants Bank, Industrial and Commercial Bank of China, and Industrial Bank rising over 2% [1] - The central bank took measures to stabilize liquidity, announcing a 700 billion yuan three-month reverse repurchase operation on November 5, and had already injected 117.5 billion yuan through a seven-day reverse repurchase on November 4 at a rate of 1.40% [1] Group 2 - Dongwu Securities anticipates that the market may not easily break through the psychological barrier of 4000 points due to a macroeconomic and performance vacuum, suggesting a "time for space" strategy [2] - November is highlighted as a critical window for style switching, with historical trends indicating that mainline sectors with high deviation in holdings during Q3 often perform weakly in November [2] - The chief analyst recommends a balanced allocation to navigate the volatility during the style switching period, while maintaining a positive outlook on growth stocks in the medium to long term, especially with the onset of a rate-cutting cycle in the US [2]