The undercurrent of A-shares is turbulent, and the science and technology innovation board sweeps 24.4 billion yuan, three major reasons
A-shares have not been doing well this week, not only down 2.16% for the week, but also falling below all moving averages, including the annual line, and some technical schools have begun to become cautious.
The market is a comprehensive thing, both listening is clear, partial belief is dark, must be widely viewed in all aspects of information, in order to be able to distinguish right from wrong, the market is not strong is a fact, but there are also some positive signals under the undercurrent.
The total net subscription of equity ETF funds on the Shanghai Stock Exchange this week is 10.344 billion yuan, and the actual situation is that it has been net subscriptions for 7 consecutive weeks, totaling 69.6 billion, which is very sustainable and intense, and can not be done by just a few institutions.
Before 2863 and 2885 last year, the application of SSE ETFs was smaller than this time, and both rose 20% later, so now is definitely not the time to be pessimistic.
The same is defeat: if the defeated party loses its armor, flees in embarrassment, and has a lazy eye, it is really defeated; If the defeated side is orderly, the formation is intact, and the eyes are shining, then there is still a play, maybe the current strength is not enough to be hard, so lure the enemy deep, if the enemy dares to chase and kill, it is really a plan, you can turn defeat into victory at any time, if the enemy does not get set, then you can only continue to grind, and then pull the city when reinforcements arrive.
This article collates the redemption data of SSE equity ETF funds for the week (May 22 to May 26) for reference:
Wide fingers
Only the SSE 50 was net redeemed, while the other broad indices were all net subscriptions.
The net subscriptions of the Science and Technology Innovation 50 and CSI 500 were 3.089 billion and 2.176 billion respectively, which are very good.
In particular, the Science and Technology Innovation 50 Index has a total of 10 ETF funds associated with it, and these ETF funds have received a total of 24.4 billion net subscriptions in the past five weeks, which is a worthy signal.
Subscription and buying are two concepts. Subscription refers to the process by which an institution buys shares from the secondary market and exchanges them for ETF shares. ETF buying refers to buying shares of ETF funds from others, not buying stocks directly.
There may be 3 reasons why institutions are making such large subscriptions:
1) The science and technology innovation board has an entry threshold of 500,000 funds, many retail investors do not have, so the liquidity is not very good, institutions package stocks for ETFs, in fact, lower the entry threshold, previously can not enter directly, now through ETFs can be indirectly entered.
2) The institutions want to do something here, but they can't do enough, so they unite all the forces that can be united, and pull some wandering, half-hearted funds to replenish and strengthen their momentum.
If it is the first 2 reasons, it is mostly good for the science and technology innovation board, but if it is the third reason, you need to be careful.
3) Institutions are very optimistic about the science and technology innovation board, because of the threshold of 500,000, the number of takeovers is limited, and the tickets in hand cannot be sold, so they exchange the stocks in their hands for ETFs and slowly thin out.
Personally, I think:
The first reason is the most likely, only if the liquidity is good, it is easy to touch the fish when the water is muddy;
The possibility of the second reason is not small, the current time cycle and policy direction are more in line, and there can be a wave of market;
The third reason is the least likely, semiconductors, artificial intelligence, and digital economy are all on the cusp at this stage, these varieties are highly overlapping with the science and technology innovation board, and institutions are unlikely to choose to escape at this time.
industry
Subscription list
Securities companies, with 3.951 billion net subscriptions this week.
The market is more divergent here, northbound funds sold 2.9 billion securities throughout the week, ETF side applied for 4 billion, considering that securities are in a relatively bottom area after 7 consecutive days of decline, and the sector has been used for a long time to protect the market at key times, this time, individuals prefer to believe ETFs.
China Semiconductor, Semiconductor, etc., with a total net subscription of 813 million.
The old United States sanctioned some semiconductor companies in large countries, big countries counter-sanctioned Micron, small days to limit sales, NVIDIA performance exceeded expectations Stock price soaring, etc., a lot of things have happened around semiconductors recently, if the sector is dull, but strange.
China Securities Media, animation games, communication equipment, and CSI Data, with a total net subscription of 1.111 billion.
are related to artificial intelligence, digital economy, in this direction, northbound has also taken a similar operation, if you are optimistic about this direction, but do not know how to choose individual stocks, you may wish to do ETF.
Redemption list
It's a little messy, not very clear to see.
CSI Coal (-773 million), China Securities Bank (-768 million), and Photovoltaic Industry (-35.9 million) were among the top three redemptions.
#ETF #
