Bull-bear divergence intensifies, with net outflow of billions of funds.

On May 26th, the A-share market continued to show a clear pattern of structural differentiation. The number of individual stocks that fell exceeded the number that rose, but the Shenzhen Component Index and the ChiNext Index both closed higher. The top ten gainers in terms of ETFs were all dominated by ETFs related to non-ferrous metals and gold stocks, while the previously surging chip design ETFs and power grid equipment ETFs saw the largest declines. It is worth noting that funds were exiting while the market was rising, with over 40 billion yuan flowing out of the ETF market on May 25th, with more funds flowing out of broad-based index ETFs and chip-related ETFs.