This week, the CSI A500 Index rose by 0.69%, closing at 5622.12 points as of November 7. The average daily turnover this week was 715.845 billion yuan, with the single-day turnover decreasing by 19.77% compared to the previous period.

All 40 CSI A500 funds rose collectively this week. Among them, Hua An Fund's CSI A500 Enhanced ETF rose 1.2% during the week. Furthermore, the total fund scale has again exceeded 200 billion yuan. The top three by scale are Huatai-PineBridge's A500ETF, E Fund's A500ETF, and Guotai Fund's CSI A500ETF, with scales of 26.463 billion yuan, 24.098 billion yuan, and 22.517 billion yuan, respectively.

Kaiyuan Securities believes that from "asset revaluation" to "profit repair," around 2026 is more likely to be a "low-slope slow bull" market rather than a "sharp-top short bull." In terms of space, the securitization rate is a relatively effective reference indicator for judging the potential of an index bull/valuation bull market; before the securitization rate reaches 1.1 times, positioning remains the key to victory. In terms of rhythm, after the "asset revaluation," Kaiyuan Securities believes that around 2026, a "flat top transitioning to a continued slow bull" is more likely than a "sharp-top short bull." After the "flat top," a "profit repair" slow bull market is expected, meaning that after the securitization rate rises, the capital market might not plummet sharply but instead seek a new stable equilibrium. The steady-state equilibrium of the securitization rate is expected to continue rising. Based on three driving forces (policies increasing capital market participation, substitution of real estate assets, and medium-to-long-term funds), Kaiyuan Securities believes the extent of the equilibrium rise could be quite significant.

Huajin Securities also stated that, currently, the A-share market in November might continue to fluctuate, but the slow bull trend remains unchanged. Huajin Securities analyzes that the economy and profits in November may continue their weak recovery trend, including possible continued rebounds in the year-on-year growth rate of the PPI and industrial enterprises' profits. Policies are still expected to be relatively proactive, such as accelerated implementation of growth-stabilizing policies, with limited external risks. Liquidity is likely to remain relatively loose; funds may continue flowing into the stock market in November, but the inflow might slow down.