ETF Review | Shanghai Composite Index Rises to 3600, Rare Metal ETFs and Funds Surge Over 7%

Grandon July 24th | The three major A-share indices rose collectively today, with the Shanghai Composite Index rising 0.65% to reach 3600 points, the Shenzhen Component Index rising 1.21%, the ChiNext Index rising 1.5%, and the Northbound 50 Index rising 1.1%. The total trading volume of the three markets was 18739 billion yuan, a decrease of 245 billion yuan from the previous day. More than 4300 individual stocks rose across the market. In terms of themes, the Hainan Free Trade Zone, energy metals, rare earth permanent magnets, duty-free shops, movie theaters, securities, and bioproducts all saw significant gains; precious metals, banks, and CPO concept stocks underperformed.

As for ETFs, the rare metal sector saw further gains in the afternoon, with funds such as Guangfa Rare Metal ETF and HuaFu Rare Metal ETF Fund surging over 7%. The biological products sector also rose in the afternoon, with nation-wide biological product ETF and Ping An Biological Product ETF rising 6.33% and 5.95%, respectively. The rare earth sector continued to rise, with funds such as Fuguo Rare Earth ETF, Rare Earth ETF Easy Fortune, and Rare Earth ETF Jia Xi all surging over 5%.

Cotton ETF fell 2%. Gold prices fell, with gold ETF AU, Shanghai Gold ETF, and gold ETF all falling 1.73%, 1.71%, and 1.7%, respectively. Bank stocks rebounded, with bank ETF, bank ETF leader, and south bank ETF all falling 1.4%.