As of 10:57 on October 23, 2025, the major A-share indices performed weakly. The Shanghai Composite Index fell 0.78%, the ChiNext Index fell 1.30%, and the STAR 50 Index fell 1.72%, all in a corrective phase.

Sector-wise, coal led the gains, while utilities, petroleum, and petrochemicals saw slight increases. Communications and electronics led the declines.

The top three gainers among the STAR 50 Index constituents were: Tuojing Technology (688072.SH): +4.11%, Kingsoft Office (688111.SH): +0.97%, and Western Superconducting (688122.SH): +0.83%.

Regarding portfolio constituent news, Baily Health (688506.SH) announced overseas multi-center clinical data for its bispecific ADC drug iza-bren at the ESMO congress. Two research results were selected as "Late-Breaking Abstracts" (LBA) and simultaneously published in the main journal of The Lancet, demonstrating the continuous enhancement of the global influence of China's innovative drugs.

The STAR 50 ETF (588000) tracks the STAR 50 Index. The index's holdings comprise 70.55% in the electronics sector and 4.54% in the computer sector, totaling 75.09%, which highly aligns with the current development direction of cutting-edge industries such as artificial intelligence and robotics. It also involves multiple sub-sectors including medical devices, software development, and photovoltaic equipment, boasting high hard-tech content and promising future growth potential. Investors optimistic about the long-term development prospects of China's hard tech are advised to maintain attention.

Related ETF: STAR 50 ETF (588000).