On March 30, the technology and power sectors experienced a sharp decline due to heightened risk aversion, while the domestic demand sector showed resilience, performing well against the market trend. Sectors such as oil and petrochemicals, food and beverages, textiles and apparel, and building materials were among the top performers.
Several institutions have recently suggested focusing on the domestic demand sector, as 2026 will be a key year for establishing a turning point in the consumer industry.
Renowned analyst Mu Yiling recently pointed out that consumption is a sector that cannot be ignored in 2026. The negative impact of real estate on consumption can be referenced from Japan, where after housing prices fell into a deep trough, consumption became desensitized to housing and entered a phase of independent development.
Mu Yiling also noted that the significant increase in the foreign exchange settlement volume of Chinese export enterprises will boost the domestic money supply, thereby raising inflation levels, which will ultimately provide important support for corporate profits and consumption recovery.
Mu Yiling is currently the chief strategy analyst at Guojin Securities and has gained recognition in recent years for his &#34;physical asset&#34; analytical framework.
The current domestic demand sector possesses the rarity of &#34;strong policies + low valuations + low crowding + fundamental recovery turning point,&#34; with stock prices likely to warm up ahead of the fundamentals. Investors should pay attention to the following ETFs on dips:
Consumer ETF Huaxia (510630.SH), which tracks the Shanghai Stock Exchange's main consumer industry index, evenly covering sub-sectors such as liquor, dairy, condiments, soft drinks, and beer;
Consumer Discretionary ETF (562580.SH), which tracks the CSI Consumer Discretionary Index, excluding food and beverages, focusing on sectors like automobiles, home appliances, and retail, benefiting from the continuation of the &#34;two new&#34; national subsidy policies;
Food ETF Huaxia (159151.SZ), which tracks the CSI Food Index, completely excluding liquor and beer, focusing more on dairy, fermented condiments, meat products, and leisure snacks, with condiments accounting for nearly 30%;
Food and Beverage ETF (515170.SH), which tracks the CSI Sub-Sector Food Index, with leading stocks in first and second-tier liquor accounting for over 60% of the weight;
Tourism ETF (562510.SH), which tracks the CSI Sub-Sector Tourism Index, focusing on service consumption and excluding commodity consumption, covering sub-sectors such as duty-free, airlines, and hotel dining;
Hong Kong Stock Connect Consumer ETF Huaxia (513230.SH), which tracks the CSI Hong Kong Stock Connect Consumer Theme Index, including new consumption high-elasticity assets such as trendy toys and gold jewelry, supporting T+0 intraday rotation trading

515170

512600

159843

On March 30th, the domestic demand sector, such as food and textiles, rose against the market trend. Institutions recommend paying attention to the consumer industry, believing that 2026 will be a key turning point. Renowned analyst Mu Yiling pointed out that the negative impact of real estate on consumption will weaken, and consumption will enter a stage of independent development. At the same time, the increase in foreign exchange settlement by export enterprises will enhance domestic money supply, supporting corporate profits and consumption recovery. Currently, the domestic demand sector has policy support and low valuations, and it is recommended to pay attention to related ETFs

腾讯新闻 - 财经

ChinaAMC CSI Food & Beverage Sub-Industry ETF

Harvest CSI Consumer Staples ETF

China Merchants Guozheng Food and Beverage ETF

Penghua CNI HK Connect Consumer ETF

Ping An CSI Food & Beverage Sub-Industry ETF

Hwabao WP CSI Staples Leading Leader ETF

ChinaAMC CSI HK Connect Consumption Theme ETF

Global X China Consumer

Penghua CSI HK Stock Connect Consumer Thematic ETF

China Merchants SSE Consumer 80 ETF

China Universal CSI Consumer Staples ETF

Hwabao WP CSI Food & Beverage Sub-Industry ETF

GX CN CONSUME

ChinaAMC SSE Consumer Staples ETF Initiating Fund

The food, textile, and other domestic demand sectors are performing well against the market trend! Institutions: Consumption is a sector that cannot be ignored in 2026