ETF Midday Review | A-share market rallies then retreats, AI applications lead declines, Film ETF and Online Consumption ETF both drop over 2%.

Gelonghui December 3 | The three major A-share indices surged before retreating, with the ChiNext Index once rising over 1%. As of the midday close, the Shanghai Composite Index fell 0.09%, the Shenzhen Component Index dropped 0.19%, and the ChiNext Index declined 0.5%. The half-day trading volume of the Shanghai, Shenzhen, and Beijing markets reached RMB 1.0756 trillion, an increase of RMB 19.5 billion compared to the previous day, with more than 3,500 stocks falling across the market. Themes such as AI applications, e-commerce, lithium mining, consumer electronics, stablecoins, solid-state batteries, and computing power weakened collectively. Meanwhile, superhard materials, coal, and non-ferrous metals sectors strengthened. In terms of ETFs, the non-ferrous metals sector led the gains, with China AMC's Industrial Non-Ferrous Metals ETF and Huaxia Fund's Non-Ferrous Metals ETF increasing by 2.48% and 1.41%, respectively. Cross-border ETFs performed strongly across the board, with Invesco Great Wall Fund’s NASDAQ Technology ETF, China AMC’s Brazil ETF, and HFT’s NASDAQ 100 ETF rising by 1.76%, 1.7%, and 1.6%, respectively. Cash strategy ETFs were active, with China AMC’s Cash Flow 500 ETF up by 1.37%. The AI application sector weakened comprehensively, with Film & TV ETF, Online Consumption ETF, and Media ETF falling by 2.31%, 2.3%, and 1.89%, respectively. The gaming sector declined, with the Gaming ETF down by 1.65%. The fintech sector turned negative, with HFT's Fintech ETF declining by 1.63%.