Over 90% of ETFs are rising, with several communication and gold ETFs increasing by more than 3%

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Source: Shanghai Securities News · China Securities Network

Securities Daily China Securities Network News reporter Wang Peng) On March 25, more than 90% of ETFs rose. The Penghua CSI 300 New Energy ETF for the Growth Enterprise Market rose 6.28%; the Yinveshange Communication ETF and the Southern CSI 300 Artificial Intelligence ETF for the Growth Enterprise Market both rose more than 4%. In addition, the Gold ETF Qianhai Open Source, the Communication ETF Cathay, the Communication ETF Huaxia, the Gold ETF Jia Shi, the Gold ETF Franklin, the Gold ETF Yi Da, and others all rose by more than 3%.

Looking ahead to the subsequent trend in gold prices, BOC Wealth (BOC Fund) stated that in the short term, if there is no clear easing of the geopolitical conflict in the Middle East, oil prices will remain at elevated levels and inflation expectations will continue to be revised upward. Gold may still face stage pressures brought about by the shifting of interest-rate cuts, as the bearish effect of “inflation/‘the ‘hot’ factor” continues to become evident, and the gold price may continue to trade in a range with adjustments.

BOC Wealth further believes that from a long-term perspective, the broader trend of declining U.S. dollar credit remains unchanged. If the global economic cycle rotates into a stagflation scenario, gold may still benefit from it. If the United States falls into a protracted war in the Middle East conflict, it may further intensify its debt burden pressures, accelerate the de-dollarization process in emerging markets, and the direction of declining U.S. dollar credit may be reinforced again. In the medium to long term, it may support gold price increases.

Looking ahead to the market, Wanjia Fund believes that because our country achieved energy independence and controllability relatively early, the advantages of Made in China have become even more prominent, and exports are expected to become an unexpectedly strong force supporting the economy in 2026. Although there is volatility in overseas macro conditions, the impact on the domestic market is relatively limited. Although the market may see fluctuations in the short term, it is expected that in the first half of the year, the major broad-based A-share indices, compared with overseas markets, will likely show a pattern of relatively strong but fluctuating performance.

Invesco Great Wall Fund stated that in the short term, after the A-share market suffered a rapid selloff, many risks have already been released in advance. The dividend yield of the CSI 300 has risen to 2.8%. Compared with the allocation attractiveness of the yield on 10-year government bonds, the market’s downside risk may be relatively limited. From a medium-term perspective, the market logic has not changed. The underlying logic of the current reassessment of Chinese assets mainly reflects two aspects: first, the reconstruction of the international order—current geopolitical conflicts will likely further reinforce the trend of weakening U.S. dollar credit; second, industrial transformation represented by AI is driving a leap in productivity, bringing growth to multiple industries, and China continues to achieve innovation breakthroughs in many fields.

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