On July 17, the market collectively adjusted in early trading. The three major indices opened lower and went lower, and the index fell more than 4%. Dragged down by the market, the GEM 50 ETF Huaan fell 4.92% in early trading to 1.681 yuan, with a turnover rate of 11.38% and a turnover of 2,232 billion yuan, ranking first among similar target ETFs. Huabao Fund believes that from a long-term perspective, the overall peak in the current round of technology markets may not have appeared, and that the cooling of the autonomous and controlled sector is more due to the consideration of reducing market volatility. Recently, it is not ruled out that there is still some take-profit pressure in the autonomous and controllable sector, but after the shock and digestion, the market's long-term logic on the main line of technology, especially the direction of autonomy and control, has not changed. There were still many catalytic factors for the industry in the third and fourth quarters, and the overall downward risk was relatively limited. Chen Guo, a strategy analyst at Oriental Wealth, believes that it is currently facing a rare “gold buying point” in the coming year, and the main indices are expected to reach new highs in the second half of the year. The core reasons include: GDP in the second quarter was the bottom of the economic growth rate, and the growth rate is expected to improve in the second half of the year; the microcapital level of A-shares in the second quarter is expected to improve in the second half of the year; sentiment indicators show that recent market sentiment is close to low; a large number of “old assets” were in the early stages of profit recovery in the second half of the year, and valuations were still low; many high-quality Chinese technology companies landed on A-shares in the second half of the year, which is expected to attract incremental capital inflows and increase market activity and risk appetite. The five conditions mentioned above are all better than in the first half of the year, and the Chinese stock market is expected to stabilize and fluctuate upward relatively quickly. In terms of configuration, we continue to be optimistic about real technology leaders in non-bank finance, new and used energy, the Internet, pharmaceuticals, consumption, and domestic AI industry chains. Investors can trade GEM 50 ETF Huaan directly through stock accounts, or participate through linked funds.

On July 17, the market collectively adjusted in early trading. The three major indices opened lower and went lower, and the index fell more than 4%. Dragged down by the market, the GEM 50 ETF Huaan fell 4.92% in early trading to 1.681 yuan, with a turnover rate of 11.38% and a turnover of 2,232 billion yuan, ranking first among similar target ETFs. Huabao Fund believes that from a long-term perspective, the overall peak in the current round of technology markets may not have appeared, and that the cooling of the autonomous and controlled sector is more due to the consideration of reducing market volatility. Recently, it is not ruled out that there is still some take-profit pressure in the autonomous and controllable sector, but after the shock and digestion, the market's long-term logic on the main line of technology, especially the direction of autonomy and control, has not changed. There were still many catalytic factors for the industry in the third and fourth quarters, and the overall downward risk was relatively limited. Chen Guo, a strategy analyst at Oriental Wealth, believes that it is currently facing a rare “gold buying point” in the coming year, and the main indices are expected to reach new highs in the second half of the year. The core reasons include: GDP in the second quarter was the bottom of the economic growth rate, and the growth rate is expected to improve in the second half of the year; the microcapital level of A-shares in the second quarter is expected to improve in the second half of the year; sentiment indicators show that recent market sentiment is close to low; a large number of “old assets” were in the early stages of profit recovery in the second half of the year, and valuations were still low; many high-quality Chinese technology companies landed on A-shares in the second half of the year, which is expected to attract incremental capital inflows and increase market activity and risk appetite. The five conditions mentioned above are all better than in the first half of the year, and the Chinese stock market is expected to stabilize and fluctuate upward relatively quickly. In terms of configuration, we continue to be optimistic about real technology leaders in non-bank finance, new and used energy, the Internet, pharmaceuticals, consumption, and domestic AI industry chains. Investors can trade GEM 50 ETF Huaan directly through stock accounts, or participate through linked funds.