On September 30, major A-share indices closed mixed, with the Shanghai Composite Index up 0.31%, the Shenzhen Component Index down 0.11%, and the ChiNext Index down 0.23%.

Equity ETF capital showed an overall net inflow trend. On September 30, equity ETFs across the entire market recorded a combined net inflow of 4.173 billion yuan, of which broad-based ETFs saw a net inflow of 6.262 billion yuan.

Among individual products, ChinaAMC STAR 50 ETF had a single-day net inflow of 2.743 billion yuan, Harvest CSI 300 ETF had a single-day net inflow of 1.145 billion yuan, and E Fund STAR 50 ETF had a single-day net inflow of 852 million yuan. Harvest STAR Chip ETF and E Fund CSI 300 ETF each recorded single-day net inflows exceeding 500 million yuan.

Looking at a longer time frame, from a five-day perspective, recent capital inflows into STAR 50 index ETFs exceeded 11.1 billion yuan, while net inflows into CSI 300 index ETFs surpassed 7.4 billion yuan, with both indices continuing to draw significant capital attention.

Several ETFs under leading public fund companies experienced notable capital movements. E Fund's latest ETF scale reached 627.671 billion yuan. Among them, E Fund STAR 50 ETF had a scale of 42.504 billion yuan with a net inflow of 852 million yuan; E Fund CSI 300 ETF had a scale of 51.599 billion yuan with a net inflow of 519 million yuan; E Fund Semiconductor Equipment ETF had a scale of 19.511 billion yuan with a net inflow of 159 million yuan; E Fund Gold ETF had a scale of 36.642 billion yuan with a net inflow of 141 million yuan; and E Fund A500 ETF had a scale of 26.559 billion yuan with a net inflow of 130 million yuan.

On the ChinaAMC side, on September 30, ChinaAMC STAR 50 ETF and ChinaAMC Chip ETF led single-day net inflows, reaching 2.743 billion yuan and 389 million yuan respectively. Their latest scales reached 94.131 billion yuan and 25.934 billion yuan, with the corresponding tracked indices seeing average daily turnover of 5.89 billion yuan and 641 million yuan over the past month, respectively.

Looking ahead to the market outlook, Harvest Fund pointed out that structural opportunities in the domestic capital market remain abundant. A relatively accommodative liquidity environment, combined with the prospect of listed companies' earnings upcycle being more broadly priced in, are expected to become the core drivers for deeper market development in the period ahead.

In terms of equity allocation, Harvest Fund focuses on three main lines. First, new quality productive forces, including technological self-reliance and high-end manufacturing. This covers computing power infrastructure, semiconductor equipment and materials, industrial machine tools, humanoid robots, the low-altitude economy, innovative drugs, and green energy equipment. Second, expanding domestic demand, consumption recovery and the upgrading of service consumption, with a focus on discretionary consumption and leading staple consumption names benefiting from marginal improvements in household consumption confidence, as well as service consumption tracks such as cultural tourism and medical services. Third, outbound industrial chains with global competitive advantages, with a focus on new energy, auto parts, high-end equipment, and innovative drug licensing, among other directions.