jinqi，bushaozhishugonggaochengfengudiaozheng，shangzheng50zhishugonggaojiangnarukuisunzhongdebandaotiqiyehanwuji。shangzheng50zhishuwangwangbeirenweishidapanlanchoudejujidi，bencinaruhaiweiyinglideremenxinpiangu，yinfashichangqianglieguanzhu。chuantongkuanjizhishuyishizhiweihexinxuangubiaozhun，dangqianhanwujishizhiyichao2300yiyuan，fuheshangzheng50shizhishaixuanbiaozhun。buguonaruzhihou，hanwujidequanzhongjiangzai1%-2%zhijian，yingxiangyouxian。congbenciyangbendiaozhengyekefaxian，shangzheng50zhishushuyukuanjileizhishu，bingfeijiazhileizhishu，qijiazhiyinzibaolubingbutuchu。

与上证50指数地以市值作为核心选样标准不同，MSCI中国A50指数选样方法在大市值风格显著的特征上，添加了行业均衡性更强的特征，nenggougenghaodifanyinggushixingyejiegoubianhua。

12yue2ri，aguzhendangzouqiang，sandazhishujitishouzhang，shangzhengzhishuqiangshishouzhang1.13%，kechuang50zhang0.83%，chuangyebanzhizhang1.42%。liangshichengjiaoechao1.8wanyi，jiaotouchixuhuoyue。chao4600guqizhang，geguzhuanqianxiaoyingxianzhu。panmianzhong，xiaofei、qiche、shangmaolingshoudengbankuaizhangfujuqian。biaozhenghexinlongtouzichandemscizhongguoa50zhishuyedazhang0.89%，chengfenguzhangdiebuyi，jinghugaotiedazhangchao5%，lixunjingmi、haitianweiyedengzhangchao4%，zhongguozhongche、biyadidengzhangchao2%，jiaotongyinxing、shanxifenjiudengdiechao1%，zhongguoshihua、zhongguoshenhuadengdiefujuqian。

热门ETF方面，同指数规模最大的MSCI中国A50ETF(560050)持续高位震荡，收涨0.86%，喜提两连阳，全天成交额近6000万元，缩量明显！

资金汹涌增仓！据公开数据显示，同指数规模最大的MSCI中国A50ETF(560050)前一交易日大举揽金超1亿元，资金借MSCI中国A50ETF(560050)布局“强者恒强”的核心龙头资产意图明显。

dangqianshichangzhendang，jigourenweishichangjiangzhujianhuiguijibenmianjiaoyi，hexinlongtouzichanyouwangchixuzouqiang。

【近期震荡表明市场逐渐回归基本面交易】

民生证券认为，近期市场震荡在于以下两大因素：第一，交易层面，可能由于监管对于交易异动和主题炒作的监控越来越严格，导致两融和游资资金活跃度继续下降。第二，基本面预期定价层面，A股当前的位置与其他大类资产明显不匹配，10nianqiguozhaidaoqishouyilvdouyijinghuidaole2024-09-24fujindeweizhi，errenminbihuilvgengshiyijingtupoleqiangao（dafubianzhi），agudianweirengweichigaowei，beihouzhuyaoshiyoudianzi、jisuanji、feiyinxingjinrong、dianxinhejixiegongxian，xiangbizhixiadanweiquanzhongdianweigongxianjiaodidexingyejizhongyuziyuan+yinxing+hongli+bufenxiaofei。gupiaodejiegoudingjiayaoxiangqitadaleizichankanqi，danshiqizhongquanzhonggudeyacangshizuoyonghuizhubutixian，touzizhebuyongguodujinghuang。

市场只是回到正轨，不用过度惊慌。股票市场偏离基本面的交易已经持续了较长时间，背后其实是投资者回避短期基本面问题、定价更为远期且短期不可证伪的成长与主题，但这种偏离终有边界。市场出现调整意味着过去的结构并不能真正带来牛市，但这并不是对市场悲观的理由，低估值的蓝筹股并不存在上述问题，且得到了政策的真正呵护，有望成为市场的压舱石。

（laiyuanyuminshengzhengquan《agucelvezhoubao：buyongjinghuang》）

【后期配置将回归基本面，核心资产有望再度崛起】

浦银国际预计，目前，市场的关注重点在于政策面。在本轮行情的布局上，初期将主要由估值修复驱动，高贝塔股表现或较佳；中期可能会出现盘整，阿尔法股或跑出；后期或回归至基本面，核心资产或将重新受资金关注。（laiyuanyupuyinguoji《lianhejiedu：ruhebawobenlunxingqing？》）

【大盘龙头具备长期战略配置价值】

guoxinzhengquanrenwei，zhangqishijiaoxia，dapanlongtoucunzaizhanlvepeizhijiazhi。jingjizhuanxingyuzhengceyindaoxia，yingliwendingchixudedapanlongtounenggoubaochizhangqijingzhengli，youzhidapanlongtouhexinzichanzai“qiangzhehengqiang、zhagenchanye、jieguiguoji”deguochengzhong，yinglaixinyilunzhangqishangxing。（laiyuanyu《【guoxincelve】jujiaodapanhexinlongtouzhanshuzhanlvepeizhijiazhi》）

资料显示，MSCI中国A50ETF（560050）跟踪MSCI中国A50互联互通指数，该指数采用“优选龙头、均衡配置”debianzhilinian，fugailedaibiaozhongguojingjililiangdegexingyelongtou，fanyingleguojishiyexiadezhongguohexinzichan，weiguoneiwaitouzizheyijianpeizhiquanqiuzhumudezhongguoyouzhizichan、lizhengfenxiangzhongguojingjigaozhiliangfazhandehonglitigonglequanxinjiejuefangan。

核心资产长期配置价值凸显，为资产配置“压舱石”优选。关注核心龙头资产，认准A50规模第一的MSCI中国A50ETF(560050)，场外联接(A类：014528；C类：014529)。

fengxiantishi：jijinyoufengxian，touzixujinshen。touzirenyingdangyuedu《jijinhetong》《zhaomushuomingshu》《chanpinziliaogaiyao》dengfalvwenjian，lejiejijindefengxianshouyitezheng，tebieshiteyoufengxian，binggenjuzishentouzimude、touzijingyan、zichanzhuangkuangdengpanduanshifouhezishenfengxianchengshounenglixiangshiying。mscizhongguoa50etfshuyuzhongdengfengxiandengji（r3）chanpin，shihejingkehufengxiandengjicepinghoujieguoweipinghengxing（c3）jiyishangdetouzizhe。wenzhongtijigegujinweizhishuchengfengukeguanzhanshilieju，benwenchuxianxinxizhizuoweicankao，touzirenxuduirenhezizhujuedingdetouzixingweifuze。benwenzhongderenheguandian、fenxijiyucebugouchengduiyueduzherenhexingshidetouzijianyi。biaodezhishubingbunengwanquandaibiaozhenggegupiaoshichang。biaodezhishuchengfengudepingjunhuibaolvyuzhenggegupiaoshichangdepingjunhuibaolvkenengcunzaipianli。jijintouziyoufengxian，jijindeguowangyejibingbudaibiaoqiweilaibiaoxian，touzixujinshen。qingtouzizheguanzhuzhishuhuatouzidefengxianyijijizhongtouziyumscizhongguoa50hulianhutongzhishuchengfengudechiyoufengxian，qingguanzhubufenzhishuchengfenguquanzhongjiaoda、jizhongdujiaogaodefengxian，qingguanzhuzhishuhuatouzidefengxian、etfyunzuofengxian、touzitedingpinzhongdeteyoufengxiandeng。