On August 12, the three major indices opened higher collectively, with the ChiNext Index (399006.SZ) rising rapidly during trading, up 0.26%. Among the index's constituent stocks, Xcreate Technology surged over 6%, while Shenghong Tech and Kunlun Tech rose over 4%, and Lepu Medical and New Essex gained over 3%.

Regarding related ETFs, the E Fund ChiNext ETF (159977) increased by 0.28%, with a turnover of 4.1363 million yuan and a real-time premium rate of 0.03%. As of August 11, the ETF's latest circulating shares stood at 3.441 billion, with a circulating scale of 8.492 billion yuan. Notably, as of August 11, the ETF has risen 12.02% year-to-date (on a NAV-adjusted basis).

On the news front, the ChiNext Index climbed 1.96% on August 11. The total margin trading balance of ChiNext stocks reached 405.212 billion yuan, an increase of 3.772 billion yuan from the previous trading day. Specifically, the financing balance totaled 403.970 billion yuan, up 3.734 billion yuan from the previous day, while the securities lending balance was 1.241 billion yuan, rising by 37.8476 million yuan.

The E Fund ChiNext ETF (159977) closely tracks the ChiNext Index (399006.SZ), one of the core indices of the Shenzhen Stock Exchange's multi-tiered capital market. Comprising the 100 most representative ChiNext-listed companies, the index reflects the performance of the ChiNext market. The ChiNext Index has a high concentration of emerging industries and high-tech enterprises, showcasing strong growth potential. As of the latest data, the top ten weighted stocks in the ChiNext Index include CATL, East Money, Zhongji Innolight, New Essex, Mindray Medical, Inovance Tech, and Shenghong Tech. The E Fund ChiNext ETF (159977) is also paired with an off-exchange ETF feeder fund (A: 001592; C: 001593).

CSC Research noted that while short-term A-share gains may face some resistance, the market remains in a mid-bull phase, with pullbacks offering allocation opportunities. Overseas conditions are marginally improving, and personnel changes at the U.S. Federal Reserve may boost market expectations for rate cuts, with a weaker dollar benefiting emerging market equities—particularly Hong Kong stocks. Under policy signals, "anti-involution" measures and credit easing are expected to drive a moderate recovery in low-price sectors. With recent accelerated industry rotation, attention should be paid to undervalued segments in new growth areas.

(The institutional views in this article are from licensed securities firms and do not constitute investment advice or represent the platform's stance. Investors should make independent judgments and decisions.)