On September 24, the three major A-share indices all closed lower.

Sector performance showed that defensive sectors such as banking and coal were relatively resilient, while the semiconductor sector declined, with concept stocks related to optical modules and PCBs falling notably, and CRO concept stocks pulling back.

In the ETF market, total net inflows for the day reached 5.7 billion yuan.

By major category, on September 24, bond ETFs and sector-themed ETFs led net inflows, reaching 8.869 billion yuan and 1.215 billion yuan, respectively.

The top five sectors by net inflows for the day were: STAR Market Bond Index (net inflow of 5.36 billion yuan), STAR Market 50 Index (net inflow of 2.02 billion yuan), government bonds and policy financial bonds index (net inflow of 1.93 billion yuan), ChiNext Index (net inflow of 1.81 billion yuan), and credit bond index (net inflow of 1.12 billion yuan).

Specifically, on September 24, the AAA STAR Market Bond Index led single-day net inflows, reaching 4.579 billion yuan.

Over the past five trading days, funds flowing into the CSI 300 Index exceeded 6.9 billion yuan, while net inflows into the STAR Market Semiconductor Materials and Equipment Index surpassed 3.8 billion yuan.

For equity ETFs (including cross-border ETFs, same below), fund shares increased by 2.376 billion units on the day, with an estimated net outflow of 442 million yuan based on average prices.

Among them, 21 products saw net inflows exceeding 100 million yuan, with the top three by net inflows being ChinaAMC STAR 50 ETF, E Fund ChiNext ETF, and Fullgoal SSE Composite Index ETF, with net inflows of 1.318 billion yuan, 1.054 billion yuan, and 668 million yuan, respectively.

ETFs under leading fund companies continued to attract net capital inflows.

For E Fund, the E Fund ChiNext ETF saw net inflows of 1.054 billion yuan, the E Fund STAR 50 ETF saw net inflows of 242 million yuan, the E Fund Cloud Computing ETF saw net inflows of 102 million yuan, the E Fund SZSE 100 ETF saw net inflows of 90 million yuan, and the E Fund Dividend ETF saw net inflows of 70 million yuan.

For ChinaAMC, on September 24, the ChinaAMC STAR 50 ETF and ChinaAMC STAR Market Semiconductor ETF led net inflows, at 1.318 billion yuan and 429 million yuan, respectively, with latest scale reaching 94.289 billion yuan and 45.354 billion yuan, corresponding to average daily turnover of 5.732 billion yuan and 4.771 billion yuan for their tracked indices over the past month.

The ChinaAMC Credit Bond ETF and ChinaAMC STAR Market Bond ETF saw net inflows of 296 million yuan and 152 million yuan, respectively, while the ChinaAMC ChiNext Computing Power ETF saw net inflows of nearly 100 million yuan.

On the net outflow side, on September 24, broad-based ETFs led net outflows, reaching 1.983 billion yuan.

Among them, the CSI 500 Index saw net outflows of 3.037 billion yuan.

Looking ahead, the new energy and new energy vehicle research team at ICBC Credit Suisse believes that falling oil prices and the arrival of the "Golden September and Silver October" peak season could help boost demand in the chemical sector.

However, when oil prices fluctuate significantly, downstream players in the supply chain often delay procurement, and demand recovery may still take some time.

Considering that the broader chemical sector's stock prices have generally undergone adjustments, with most blue-chip chemical stocks' PE valuations falling back to 10-13 times and at relatively low points in the cycle, they may offer good allocation value.

Guolian Fund believes that the lithium battery energy storage sector is currently in a "strong reality, weak expectations" state, with industry chain orders and shipment data continuing to verify prosperity, but market sentiment remains cautious, with pessimistic expectations for long-term demand.

In an environment where global equity market valuations are generally rising, the lithium battery energy storage sector, which has already corrected to low levels, is expected to see capital inflows from investors focusing on earnings certainty.