On January 7, the Science and Technology Innovation 100 ETF closed up 2.15%, with a turnover of 233 million yuan. Component stocks rose strongly. Hengxuan Technology rose 7.75%, Steway rose 6.35%, National Shield Quantum rose 6.21%, Zejing Pharmaceutical rose 2.13%, and Alex, Xinyuan Micro, and Anji Technology followed suit. Bank of China Securities said that looking ahead to the market, the non-manufacturing PMI was marginally recovered in December 2024. Although the manufacturing PMI declined somewhat, it was still stronger than the seasonal average. The new order index reflecting demand continues to rise, so there is no need to be too pessimistic about domestic demand expectations. With the implementation of the central bank's monetary easing operation, market confidence and the financial environment are expected to be restored. Currently, the equity risk premium index, which reflects A-share sentiment, has declined to the lower end of the standard deviation of 1 times. Combined with annual strategic forecasting, there is still room for repair in A-share ERP levels during the year. From an annual perspective, the brief decline at the beginning of the year can be seen as a better window to increase positions during the year. In terms of allocation, it is recommended to focus on some consumer circuits with both policy and climate, and the technology sector with improved cost performance.

On January 7, the Science and Technology Innovation 100 ETF closed up 2.15%, with a turnover of 233 million yuan. Component stocks rose strongly. Hengxuan Technology rose 7.75%, Steway rose 6.35%, National Shield Quantum rose 6.21%, Zejing Pharmaceutical rose 2.13%, and Alex, Xinyuan Micro, and Anji Technology followed suit. Bank of China Securities said that looking ahead to the market, the non-manufacturing PMI was marginally recovered in December 2024. Although the manufacturing PMI declined somewhat, it was still stronger than the seasonal average. The new order index reflecting demand continues to rise, so there is no need to be too pessimistic about domestic demand expectations. With the implementation of the central bank's monetary easing operation, market confidence and the financial environment are expected to be restored. Currently, the equity risk premium index, which reflects A-share sentiment, has declined to the lower end of the standard deviation of 1 times. Combined with annual strategic forecasting, there is still room for repair in A-share ERP levels during the year. From an annual perspective, the brief decline at the beginning of the year can be seen as a better window to increase positions during the year. In terms of allocation, it is recommended to focus on some consumer circuits with both policy and climate, and the technology sector with improved cost performance.