CITIC Securities: Currently recommend focusing on ETFs in broad-based products such as ChiNext 50, ChiNext Index, Double Innovation 50, and CSI 1000.

According to the research report of CITIC Securities, the ETF market has seen a record outflow of funds recently. Although the technology and cyclical sector ETFs in the industry and theme continue to receive fund subscriptions, broad-based ETFs have seen outflows exceeding 200 billion yuan in a single week. Based on the impact of ETF outflows during the period from January 15th to 16th, small-cap stocks are less affected, while sectors such as nonferrous metals, military industry, chemical industry, and computers are less affected. On the other hand, sectors like banking, food and beverages, coal, and non-bank financial institutions are more significantly affected. The indexation of funds in the market sectors is conducive to cooling down emotions and returning to rationality, as well as ensuring the long-term stability of the capital market. The cooling down of market speculation emotions emphasizes the importance of a more diversified and stable allocation in the current environment. Based on both quantitative monitoring results from the SDISS framework and qualitative logical judgments, it is recommended to focus on ETFs such as the ChiNext 50, the ChiNext Index, the Double Innovation 50, and the CSI 1000 in broad-based products, as well as ETFs in sectors such as new energy, nonferrous metals, agriculture, pharmaceuticals, and medical devices in industry and theme products.