Over 40% of the stock ETFs reached new highs in net asset value, with "technology innovation" leading the charge in breakout directions.

Data shows that as of August 22nd, more than 40% of the net asset values of over 1000 stock ETFs in the A-share market have hit new highs. As the main channel for money inflow and outflow, ETFs are playing the role of a "thermometer" for the equity market. In terms of industry themes, the ETFs that have hit new highs in this round are mainly focused on science and technology innovation, whether they are broad-based products or specific themes. At the same time, technology-related themes such as chips, artificial intelligence, communications, and cloud computing have also performed well, becoming important forces driving market sentiment. However, in contrast to the science and technology innovation ETFs hitting new highs, some thematic ETFs representing consumer and new energy sectors have still not recovered. Especially for sectors greatly influenced by policies and industry cycles, after experiencing rapid gains from 2021 to 2022, they have seen significant pullbacks, with the pace of recovery significantly lagging behind the market average. Market participants point out that although the market has seen some recovery, differentiation is still the main theme, with funds more focused on sectors with stronger certainty and higher business prospects.