Recreate 4·8! A major miracle day on the A-shares market, the Shanghai Enhanced ETF (563930) closed up 1.78%, with gains led by metals, pharmaceuticals, semiconductor equipment, and more!

March 24, 2026, A-shares have once again reproduced the impressive scene of April 8, 2025. After a Black Monday, a truly miraculous day has unfolded! As of the close, 上证增强ETF招商** (563930)** rose 1.78%. In terms of sectors, non-ferrous metals, pharmaceuticals, semiconductor equipment, and small-cap stocks led the gains.

The Vaccine ETF (561920) rose 4.17%. Non-ferrous mining ETF (159690) rose 4.06%. Medical device ETF (159898) rose 2.78%. Semiconductor equipment ETF (561980) rose 2.05%. CSI 2000 Enhanced ETF CICC (159552) and CSI 1000** Enhanced ETF CICC (159680)** respectively rose 3.04% and 2.63%.

In addition, Solar PV ETF (516230), Battery ETF (561910), ChiNext AI ETF (159243), and others rebounded from below the waterline against the trend, and received a large influx of capital.

Looking back at history, when facing certain public events that can trigger a synchronized reaction across global equity assets—such as recent energy-related inflation and the geo-political conflicts of “the Iran-U.S. ‘Luoshengmen’ (a controversy with multiple sides)”—A-shares, overall, have shown strong resilience. Negative drag is usually resolved relatively quickly.

According to estimates by Open Source Securities, taking the dates when China, the U.S./Europe, and Japan and South Korea’s stock markets all experienced a marked adjustment after 2018 as observation targets, the analysis includes two categories of features:

(1) Feature one: Under external shocks, A-shares’ decline narrows and the duration of impact shortens.

(2) Feature two: In overseas shocks after 2020, the probability of index repair increases.

Given current overseas geo-political risks, the momentum supporting subsequent index repair is stronger—

From the market environment: This round of shocks occurred in the middle stage of a bull market, and the index’s central level still has a basis to move upward, providing strong support for subsequent index repair.

From the regulatory environment: actively release stability-maintaining signals. In recent weeks, the People’s Bank of China Party Committee convened an expanded meeting. It pointed out that, in actively and prudently resolving financial risks in key areas, “we will firmly safeguard the steady operation of financial markets such as the stock market, the bond market, and the foreign exchange market. We will study and establish liquidity support mechanisms for non-bank financial institutions under specific scenarios,” to stabilize market confidence.

Looking ahead to 2026—an opening year for the new five-year plan—policy and economic fundamentals are expected to form a resonance. 上证增强ETF (563930) tracks the relevant indices closely. Data show that the Shanghai Composite Index has more than 2,200 constituent stocks, encompassing core assets, state-owned and central-government enterprises, and small- and mid-cap growth stocks represented by the STAR Market.

Risk warning: Funds involve risks; invest with caution.