ETF Afternoon Review | AI hardware experiences a significant pullback, with the Communication Equipment ETF and the Cathay Growth Enterprise Market Artificial Intelligence ETF both declining over 6%.

Gelonghui, September 2 | The three major indices of the A-share market collectively declined in the morning session. As of the lunch break, the Shanghai Composite Index fell by 0.79%, the Shenzhen Component Index dropped by 2.21%, and the ChiNext Index decreased by 2.9%. The Beijing Stock Exchange 50 Index declined by 1.28%. The combined trading volume of the Shanghai, Shenzhen, and Beijing markets was 1.93 trillion yuan, an increase of 84 billion yuan compared to the previous day. Over 4,400 stocks in the entire market experienced declines. In terms of sectors, stocks related to computing power hardware, military equipment, consumer electronics, and digital currency concepts saw the largest declines; on the other hand, precious metals, banking, and tourism and hotel sectors performed relatively actively. Regarding ETFs, the S&P Consumer ETF rose by 2.86%. The large financial sector was notably active, with China AMC's Hong Kong Stock Connect Financial ETF, Tianhong Bank ETF, and Southern Bank ETF increasing by 1.42%, 1.29%, and 1.26% respectively. The utilities sector saw gains, with Harvest Fund's Green Power ETF and Penghua Fund's Utilities ETF rising by 1.1% and 1.01% respectively. The new energy vehicle battery ETF, which experienced a premium and hit the upper limit yesterday, fell by 9.97%. The AI hardware sector corrected across the board, with the communication equipment ETF dropping by 6.49%. The ChiNext AI ETF by Guotai and the ChiNext AI ETF by Huabao both fell by 6%. The Cloud 50 ETF and the Cloud Computing ETF by Guangfa both declined by 5.4%.