The Tianhong Chemicals ETF (159133) saw its underlying index rise against the market trend, leading to a wave of positive earnings forecasts for A-share companies in the basic chemicals and other industries

On April 9th, despite the decline of the three major indices, the CSI Chemicals Sub-industry Index rose against the trend by 0.81%. HYPC rose over 8%, while Senior and Hongda Co., Ltd. increased nearly 4%. The chemical ETF Tianhong (159133) had a trading volume exceeding 23 million yuan, with a circulating scale reaching 3.015 billion yuan. The first quarter earnings forecast of A-share companies shows that 81.25% of companies expect positive performance, mainly concentrated in the semiconductor, non-ferrous metals, and basic chemicals industries. Shenwan Hongyuan Securities pointed out that the supply growth rate in the chemical industry is slowing down, and the prosperity is gradually recovering