--- title: "The small and mid-cap broad-based index experienced fluctuations and divergence throughout the week, while the micro-cap index rose against the trend" type: "News" locale: "en" url: "https://longbridge.com/en/news/280812020.md" description: "This week (from March 23 to 27), the A-share small and medium-sized broad-based indices showed fluctuating differentiation. The CSI 2000 Index rose by 0.4%, becoming the only small and medium-sized index to close in the green; the CSI 500 Index slightly fell by 0.3%, the CSI 1000 Index dropped by 0.5%, the Shanghai Stock Exchange STAR Market 100 Index decreased by 0.9%, and the ChiNext Mid-cap 200 Index had the largest decline, reaching 1.4%. China Galaxy Securities believes that the downside space for A-shares is limited, and the market will respond to external pressures with fluctuating differentiation and structural rotation" datetime: "2026-03-27T14:34:10.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/280812020.md) - [en](https://longbridge.com/en/news/280812020.md) - [zh-HK](https://longbridge.com/zh-HK/news/280812020.md) --- # The small and mid-cap broad-based index experienced fluctuations and divergence throughout the week, while the micro-cap index rose against the trend This week (March 23 - 27), the A-share small and mid-cap broad-based indices showed an overall pattern of volatility and differentiation, with varying performances across different market capitalization levels. By the close, the CSI 2000 Index rose 0.4% against the trend, becoming the only small and mid-cap index to close in the green this week; the CSI 500 Index slightly fell by 0.3%, the CSI 1000 Index dropped by 0.5%, the Shanghai Stock Exchange Sci-Tech Innovation Board 100 Index decreased by 0.9%, and the ChiNext Mid-cap 200 Index had the largest decline at 1.4%. From the perspective of index characteristics and valuations (data source: Wind, as of March 26, 2026): CSI 500 Index: Rolling price-to-earnings ratio of 34.6 times, with a valuation percentile of 66.3% since its release in 2007, covering 11 primary industries in the CSI, focusing on mid-cap leading enterprises; CSI 1000 Index: Rolling price-to-earnings ratio of 46.3 times, with a valuation percentile of 64.4% since its release in 2014, comprehensively reflecting the performance of small and mid-cap growth stocks; CSI 2000 Index: Rolling price-to-earnings ratio of 153.7 times, released in August 2023, focusing on small and micro-cap growth enterprises, with prominent elasticity characteristics; Shanghai Stock Exchange Sci-Tech Innovation Board 100 Index: Rolling price-to-earnings ratio of 122.4 times, released in August 2023, focusing on small and medium-sized innovative enterprises on the Sci-Tech Innovation Board, with electronics, pharmaceuticals, and biotechnology industries accounting for over 70%; ChiNext Mid-cap 200 Index: Rolling price-to-earnings ratio of 101.6 times, released in November 2023, with the information technology industry accounting for over 40%, representing the growth style of mid-cap stocks on the ChiNext. China Galaxy Securities believes that the duration and evolution path of geopolitical factors still have significant uncertainty, but under the logic of prioritizing domestic factors, the downside space for A-shares is relatively limited, and the market is likely to digest external pressures through a pattern of volatility, differentiation, and structural rotation. The small and mid-cap broad-based ETFs under E Fund are all low-fee products, with a management fee rate of only 0.15% per year. See the chart below: Risk warning: Funds carry risks, and investment should be cautious ### Related Stocks - [601881.CN](https://longbridge.com/en/quote/601881.CN.md) - [512880.CN](https://longbridge.com/en/quote/512880.CN.md) - [563300.CN](https://longbridge.com/en/quote/563300.CN.md) - [159628.CN](https://longbridge.com/en/quote/159628.CN.md) - [512000.CN](https://longbridge.com/en/quote/512000.CN.md) - [159842.CN](https://longbridge.com/en/quote/159842.CN.md) ## Related News & Research - [You Shouldn't Bet Everything On Big Tech. Check This New SMID-Cap ETF For Alpha Instead](https://longbridge.com/en/news/286817034.md) - [Hogs Look to Tuesday Trade](https://longbridge.com/en/news/286913138.md) - [FOMC MINUTES: MORE PARTICIPANTS WANTED TO REMOVE EASING BIAS THAN INDICATED BY NUMBER OF DISSENTS; GENERALLY, HAWKISH SENTIMENTS SEEMED TO DOMINATE](https://longbridge.com/en/news/287103717.md) - [Angelina Jolie lists L.A. estate once owned by a famous filmmaker for $30 million](https://longbridge.com/en/news/286882940.md) - [Bank valuations slump despite stronger corporate earnings growth](https://longbridge.com/en/news/286806811.md)