On November 28, A-shares opened slightly lower and continued to decline. As of 9:55, the A500ETF Fund (512050) fell 0.35%, while constituent stocks such as Mindray Medical, Tianfu Communication, and Xinyisheng rose against the market trend. Recently, funds have been intensively increasing positions in the A500ETF Fund, with a strong inflow of 5.8 billion yuan yesterday, pushing the fund's circulating scale above 200 billion yuan. Over a longer period, the fund has seen net inflows of over 12 billion yuan in the past 5 days and over 20 billion yuan in the past 20 days.
On the news front, J.P. Morgan stated that the probability of a significant rise in the Chinese stock market next year is higher than the risk of a sharp decline, as multiple incremental driving factors are turning positive. They pointed out that next year will bring several incremental supporting factors, such as the broader application of artificial intelligence and measures to stimulate consumption, hence upgrading their rating on A-shares to "Overweight".
Looking ahead, Guohai Securities stated that A-shares are expected to continue a "slow bull" trend, with technology remaining the main theme. Currently, there is high emphasis on the stable development of the capital market, as stock market stability relates to the overall economic and social situation and the vital interests of hundreds of millions of investors. Meanwhile, the A-share market currently possesses the liquidity foundation for a bull market, with household deposits being an important potential source of funds for the stock market. As of October 2025, China's household deposit balance reached 162.6 trillion yuan. Currently, China's new quality productive forces, technology, and industrial innovation are developing vigorously, and international trade frictions are accelerating domestic substitution. Comparing the market capitalization and capital expenditure scale of Chinese and US tech companies, China's tech sector still has significant room for catch-up.
The A500ETF Fund (512050) helps investors deploy in A-share core assets with one click, capturing the红利 of rising A-share valuations. This ETF has core advantages such as low fees (total expense ratio only 0.2%), good liquidity (average daily turnover over 5 billion yuan), and large scale (size over 19 billion yuan). It tracks the CSI A500 Index, adopting a dual strategy of balanced sector allocation and leading stock selection, covering all 35 CSI sub-sectors, integrating value and growth attributes. Compared to the CSI 300, it overweight sectors related to new quality productive forces such as the AI industry chain, medical biology, power equipment & new energy, and defense & military industry, possessing natural barbell investment characteristics.
Investors can pay attention to related products: A500ETF Fund (512050) [Off-campus Connection (Class A: 022430; Class C: 022431; Class Y: 022979)], A500 Enhanced ETF Fund (512370).
