Affected by the &#34;two-week ceasefire,&#34; the A-share market opened high and rose further in the early session, with the STAR 50 Index soaring by 4%. All 50 constituent stocks rose, with GuoBo Electronics, ZhongKong Technology, ShengKe Communication, and ShengYi Electronics rising over 6%.
From the recent capital flow perspective, in the past 20 trading days, capital inflow into the STAR 50 ETF Huaxia (588000) reached 2.45 billion yuan.
After nearly two months of deep adjustment, this index, which aggregates the top 50 companies on the STAR Market, is showing a high cost-performance ratio for allocation.
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<li>Sufficient adjustment, risk release is relatively thorough</li>
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Since the end of January, the STAR 50 Index has been in a downward channel for seven consecutive weeks, retreating from a high of 1575.45 points to around 1249.01 points, with a maximum drawdown of 20.72%, ranking among the top in terms of adjustment among major A-share indices. At the same time, from the moving average position, the index has fallen to the 45-week line that has supported the weekly upward trend since the low of &#34;924,&#34; providing a good entry opportunity for external funds due to this deep adjustment.
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<li>Valuation digestion, safety margin gradually increasing</li>
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After this round of adjustment, the valuation level of the STAR 50 Index has gradually retreated from historical highs. According to Tonghuashun's earnings forecast data, the STAR 50 Index is expected to achieve a year-on-year revenue growth of 21.68% in 2026, compared to -1.28% in 2025, turning from negative to positive. In terms of net profit attributable to the parent company, it is expected to grow from 28.16% in 2025 to 98.27%, marking a significant improvement in profit levels. Considering the high growth attributes of its constituent stocks, the matching degree between valuation and growth is improving.
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<li>Clear technology main line, industry trends support</li>
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Among the constituent stocks of the STAR 50 Index, semiconductor companies account for nearly 70%, reflecting the concentrated technological attributes of A-shares. Recently, the performance of domestic AI chips has surged, and large domestic technology companies have begun bulk procurement, coupled with the rapid growth of AI inference demand, indicating that domestic AI chips and semiconductor equipment materials are expected to maintain high prosperity. The continuous expansion of chip demand is likely to drive upward revisions in performance expectations for the semiconductor sector, providing fundamental support for the semiconductor segment of the STAR 50 Index. As the disclosure window for the first quarter reports approaches, the market's verification of technology stock performance will determine the subsequent trend, and the current pullback is an important window for positioning quality technology leaders.
Related ETF:
STAR 50 ETF Huaxia 588000
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The STAR 50 Index surged by 4%, with a capital inflow of 2.45 billion yuan over nearly 20 trading days. After two months of adjustment, the index demonstrates a high cost-performance ratio for allocation. With sufficient adjustments, risk has been released, and valuations are gradually declining, with an expected year-on-year revenue growth of 21.68% in 2026. Semiconductor companies account for nearly 70%, and the demand for domestic AI chips is increasing, supporting performance expectations in the semiconductor sector. The market's verification of technology stock performance will influence subsequent trends, and the current pullback serves as an important window for positioning in high-quality technology leaders

腾讯新闻 - 财经

STAR 50

Guotai CSI All Share Integrated Circuit ETF

Huatai-PB SSE Science and Technology Innovation Board 50 ETF

China Merchants CSI Semiconductor Industry ETF

ChinaAMC SSE Science and Technology Innovation Board 50 ETF

ChinaAMC Guozheng Semiconductor Chip ETF

Harvest SSE STAR Chip ETF

E Fund CSI Semiconductor Material & Equipment Thematic ETF

GTJA Allianz CSI All Share Semiconductors & Semiconductor Equipment ETF

ChinaAMC SSE STAR Semiconductor Material & Equipment Thematic ETF

Guotai CES Semiconductor Chip Industry ETF

Harvest CSI All Share Integrated Circuit ETF

Guotai CSI Semiconductor Material Equipment Theme ETF

E Fund China Science and Technology Innovation Board 50 Component ETF

GTJA Allianz SSE STAR Chip Design Thematic ETF

STAR 50 surged 4%, with funds bottoming out at 2.45 billion yuan in nearly 20 trading days!