Consecutive-day high turnover in innovation ETFs (Harvest 159915, Huaxia 588000) — each exceeding 100 billion yuan for a third straight session — suggests concentrated flow activity into China's technology and innovation segment, which forms a meaningful weight in broad China equity indices like 510500, creating a direct exposure linkage through index composition.

宽基中国ETF的下午反弹[1]表明盘中情绪企稳，这对510500等工具很重要，因为宽基ETF的价格和资金流动动态通常充当境内机构头寸的实时代理。

即将发布的美国劳动力和活动数据（2026-08-03的ISM制造业PMI、2026-08-04的JOLTS、2026-08-05的ADP和ISM非制造业PMI）代表一个外部宏观输入：美国活动信号影响全球风险偏好，进而通过跨境资本流动渠道传导至中国股票ETF的需求。