Yesterday (October 21), the three major A-share indices collectively closed higher, with the Shanghai Composite Index rising 1.36%, the Shenzhen Component Index up 2.06%, and the ChiNext Index gaining 3.02%. The A500ETF Fund (512050), which tracks the CSI A500 Index, surged 1.85%, with a daily turnover exceeding 5.2 billion yuan, ranking first among comparable funds.
Capital flowed into core assets, with the A500ETF Fund (512050) attracting a significant inflow of 374 million yuan yesterday. Over the longer term, the fund has accumulated a gain of 21.89% in the secondary market since the beginning of this year.
The A-share market continues to recover, with the wealth effect attracting retail investors. At the same time, policy expectations have strengthened, with the market widely anticipating additional measures to stabilize growth and boost consumption. Coupled with rising expectations of a Fed rate cut, risk appetite has improved. From January to September this year, the number of new A-share accounts exceeded 20.14 million, a year-on-year increase of nearly 50%.
Looking ahead, Morgan Stanley's chief China equity strategist believes that a continued bull market in A-shares and Hong Kong stocks is a highly likely scenario, provided there is sustained stabilization in fundamentals. Whether in U.S. or A-shares, AI is a highly sought-after core theme and a long-term investment focus favored by Morgan Stanley, warranting close attention.
The next-generation core broad-based A500ETF Fund (512050) helps investors deploy allocations to A-share core assets with one click. The CSI A500 Index, tracked by this ETF, adopts a dual strategy of balanced sector allocation and top-tier stock selection, covering all 35 subsectors under the CSI framework. It integrates value and growth attributes and, compared to the CSI 300, overweight sectors such as the AI industry chain, pharmaceuticals and biotechnology, power equipment and new energy, and defense and military industry—representative of new productive forces. It inherently possesses a barbell investment structure. Off-exchange linked shares (Class A: 022430; Class C: 022431).
