Last week, market sentiment surged amidst significant positive developments in the infrastructure sector, catalyzing substantial gains across multiple ETF products focused on building materials and rare earths. In terms of trading volumes, ETFs tracking broad-based indices such as the CSI A500, CSI 300, and STAR Market 50 were among the most actively traded. Notably, the weekly trading volume of Hong Kong Securities ETFs surpassed 100 billion yuan. Intriguingly, there was a stark divergence in performance between the stock and bond markets last week, with a pronounced "seesaw effect" observed. Several credit bond ETFs witnessed net outflows of funds, while money market ETFs also faced considerable redemptions, collectively indicating a marked uptick in risk appetite within the capital market.