On December 16, the market fluctuated throughout the day, and all three indices fell more than 1%. By the close, the Shanghai index fell 1.11%; the index fell 2.10%. Affected by this, the GEM 50 ETF fell 2.14% to close at 1.463 yuan, with a turnover rate of 8.10% and a turnover of 2,084 billion yuan, ranking first among similar target ETFs. Despite a cumulative decline of 4.69% in the past 5 trading days, GEM 50 showed a continuous net inflow trend: net capital inflow of 180 million yuan in the past 5 trading days, net capital inflow of 340 million yuan in the past 20 trading days, and a net capital inflow of 30.45 million yuan in the past 60 trading days. Cathay Pacific Haitong Securities pointed out that the New Year's Eve offensive has already begun. In terms of configuration, the spring market rules are generally for the big game to set up a small game. The high-quality main line takes the lead, and the industry is optimistic about technology, brokerage, and consumption. Shenwan Hongyuan Securities's judgment on the 2026 style rhythm is as follows: the pro-cyclical and value style dominant period is mainly concentrated in the first half of the year; the second quarter may enter the bottom stage, and the direction of technology and advanced manufacturing with fundamental Al logic is expected to take the lead. The market may shift to a full-blown bull market in the second half of 2026. The procyclical sector may only be the driving asset in the early stages of the bull market; in the end, the bull market still dominates technology and advanced manufacturing. For investors who have been optimistic about China's technology growth sector for a long time, the GEM 50 ETF provides a convenient and efficient investment tool. Investors can directly trade through stock accounts or invest and allocate funds through linked funds.

On December 16, the market fluctuated throughout the day, and all three indices fell more than 1%. By the close, the Shanghai index fell 1.11%; the index fell 2.10%. Affected by this, the GEM 50 ETF fell 2.14% to close at 1.463 yuan, with a turnover rate of 8.10% and a turnover of 2,084 billion yuan, ranking first among similar target ETFs. Despite a cumulative decline of 4.69% in the past 5 trading days, GEM 50 showed a continuous net inflow trend: net capital inflow of 180 million yuan in the past 5 trading days, net capital inflow of 340 million yuan in the past 20 trading days, and a net capital inflow of 30.45 million yuan in the past 60 trading days. Cathay Pacific Haitong Securities pointed out that the New Year's Eve offensive has already begun. In terms of configuration, the spring market rules are generally for the big game to set up a small game. The high-quality main line takes the lead, and the industry is optimistic about technology, brokerage, and consumption. Shenwan Hongyuan Securities's judgment on the 2026 style rhythm is as follows: the pro-cyclical and value style dominant period is mainly concentrated in the first half of the year; the second quarter may enter the bottom stage, and the direction of technology and advanced manufacturing with fundamental Al logic is expected to take the lead. The market may shift to a full-blown bull market in the second half of 2026. The procyclical sector may only be the driving asset in the early stages of the bull market; in the end, the bull market still dominates technology and advanced manufacturing. For investors who have been optimistic about China's technology growth sector for a long time, the GEM 50 ETF provides a convenient and efficient investment tool. Investors can directly trade through stock accounts or invest and allocate funds through linked funds.