ETF Review | AI hardware ETFs surged and then pulled back, cross-border ETFs rallied in the afternoon, Nasdaq Technology ETF rose more than 2%, CSI Cons Stap ETF fell over 7% in the closing minutes.

Gelonghui, July 31 | The SSE Composite Index closed down 1.18%, the Shenzhen Component Index fell 1.73%, and the GEM Index dropped 1.66%, after rising more than 1% in early trading. Cyclical stocks followed the futures market with a broad sell-off, with insurance and real estate stocks leading the declines. NVIDIA's shares in the AI hardware sector retreated in the afternoon following news of a meeting. Pharmaceutical stocks showed strength against the trend, while the defense and brain-computer interface concepts gained momentum towards the close. In ETFs, cross-border ETFs dominated the gainers in the afternoon, with the Invesco NASDAQ Technology ETF, HFT Fund US 50 ETF, and E Fund CSI Technology 50 ETF up 2.38%, 2.17%, and 2.02%, respectively. The domestic information technology sector saw increased gains in the afternoon, with the Huabao Innovation ETF and ChinaAMC Information Technology ETF up 1.88% and 1.36%, respectively. The HuaTaiBerri Southeast Asia Technology ETF, E Fund Nikko N225 ETF(QDII), and ChinaAMC Nomura N225 ETF(QDII) each rose 1%. The CSI Cons Stap ETF experienced unusual movements at the close, falling 7.39%, with the latest premium/discount rate at -4.96%. The real estate sector was down throughout the day, with the China Southern CSI All Share Real Estate ETF and the China Southern CSI All Share Real Estate ETF down 4.12% and 3.93%, respectively. The cyclical sectors were heavily hit, with the Iron and steel ETF and Mining ETF down 3.98% and 3.89%, respectively.