On January 22, A-shares experienced an initial surge followed by a retreat in the morning session, then strengthened with volatile swings in the afternoon, culminating in all three major indices closing in positive territory, with the ChiNext Index rising nearly 1%. Against this backdrop, the ChiNext 50 ETF (159949) climbed 1.04% to 1.558 yuan, registering a turnover rate of 5.20% and a trading volume reaching 12.99 billion yuan, ranking first in trading value among its peer ETFs. Data source: Wind | Cut-off date: January 22, 2026
In terms of liquidity, as of January 22, the ChiNext 50 ETF (159949) accumulated a total trading volume of 380.06 billion yuan over the past 20 trading days, averaging 19.00 billion yuan per day. For the 14 trading days since the start of the year, its cumulative trading volume reached 273.32 billion yuan, averaging 19.52 billion yuan daily. As of January 21, 2026, its circulating scale stood at 249.00 billion yuan. The latest periodic report reveals that the top ten holdings of the ChiNext 50 ETF (159949) saw mixed performance today, including Contemporary Amperex Technology (CATL), Zhongji Innolight, Eoptolink Technology, East Money Information, Sungrow Power, Shenghong Technology, Inovance Technology, Mindray Medical, TFC Optical Communication, and EVE Energy Co., Ltd. The specific portfolio weightings are as follows: Data source: Fund Q4 Report | Cut-off date: December 31, 2025
Fund Manager Xu Zhiyan stated in the 2025 Q4 report that the market returned to a structural pattern in the fourth quarter, with divergent performances within the ChiNext board: AI-driven sectors like optical modules and memory demonstrated strong momentum, while new energy experienced high volatility and a pullback, and the biomedical sector continued its adjustment. During the reporting period, the ChiNext 50 Index declined by 0.83%. The fund tracks the ChiNext 50 Index, which selects 50 stocks from the ChiNext market based on large scale, high liquidity, and primary businesses aligned with technology and growth characteristics, reflecting the price performance of the core assets within the ChiNext market.
A CITIC Securities research report points out that future markets will witness the establishment of one foundation for the dollar liquidity cycle—technological appeal—which will no longer be dominated solely by the United States. China Merchants Securities indicated that for January, five sectors demonstrating marginal improvements warrant focus: AI hardware, robotics, AI applications, non-ferrous metals, and domestic computing power. From a medium- to long-term perspective, it is advised to use the cycle as the axis and supply-demand dynamics as the anchor. Attention should be paid to the progress of society-wide intelligence under the new technological cycle, the autonomous and controllable aspects of related industrial chains under the domestic substitution cycle, and the cost reduction and efficiency gains across the entire carbon neutrality industrial chain under the "dual carbon" cycle, alongside the increasing penetration of electric and intelligent vehicles driven by the electrification and smartization megatrend.
The ChiNext 50 ETF (159949) provides a convenient tool for investors with a long-term positive outlook on China's technology and growth sectors. The product has delivered a three-year return of 35.16%, outperforming its performance benchmark and ranking 526th among 1,633 peer products. Investors can trade this ETF directly through a stock trading account or participate via its feeder funds. For investment strategy, adopting a systematic investment plan or building a position in batches is recommended to smooth out short-term volatility, while closely monitoring the earnings delivery of constituent stocks and relevant policy developments.
Risk Warning: Fund investments carry risks, and caution is advised when investing. The ChiNext 50 ETF is a fund product characterized by relatively high risk and high expected returns, with its net asset value performance closely linked to the ChiNext market. Investors should carefully read the fund's legal documents, assess their own risk tolerance, and make investment decisions prudently.
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