1. Review of the securities market
Flush data showed that on July 14, the Shanghai Composite Index rose 0.04% intraday to close at 3237.7 points, the highest 3248.38 points; the Shenzhen Component Index fell 0.14% intraday, closing at 11080.32 points, the highest 11120.19 points; and the ChiNext Index fell 0.6% intraday, closing at 2224.1 points, the highest 2239.42 points. Northbound inflows decreased to $1.045 billion from $13.585 billion in the previous session.
Second, ETF market performance
1. The overall market performance of equity ETFs
On July 14, the median return on equity ETFs was -0.19%. Among them, according to different classifications, the scale index has the highest yield of 1.29%; China Taizhongsei-CSI All Index Communication Equipment ETF had the highest yield at 3.11%; Among the strategy indexes, the Southern S&P China A-share Large-Cap Dividend Low Wave 50 ETF had the highest yield at 1.08%; The Style Index China Life Security Select 88 ETF had the highest yield at 0.89%; Among the thematic indexes, E Fund CSI Telecom Thematic ETF had the highest yield at 4.01%.
2. Ranking of stock ETFs
On July 14, the three ETFs with the highest gains in equity ETFs and their yields were: E Fund CSI Telecom Thematic ETF (4.01%), Cathay CSI All Index Communication Equipment ETF (3.11%), and Harvest CSI Communications ETF (2.98%). Details of the top 10 gainers are shown in the table below:
On July 14, the three ETFs with the largest declines in equity ETFs and their yields were: GF CSI Photovoltaic Leading 30 ETF (-2.1%), PV ETF (-1.76%), and Huaan CSI Photovoltaic Industry ETF (-1.76%). Details of the top 10 decliners are shown in the table below:
3. The flow of funds of equity ETFs
On July 14, the three ETFs with the largest inflows of equity ETFs and their inflows were: E Fund ChiNext ETF (inflow of 273 million yuan), E Fund CSI 300 ETF Initiation (inflow of 169 million yuan), and Cathay CSI All Index Communication Equipment ETF (inflow of 113 million yuan). Details of the top 10 inflows are shown in the table below:
On July 14, the three ETFs with the largest outflows of equity ETFs and their inflows were: Huaxia SSE Science and Technology Innovation Board 50 Component ETF (outflow of 364 million yuan), Cathay CSI Military ETF (outflow of 296 million yuan), and GF CSI All Index Power ETF (outflow of 295 million yuan). Details of the top 10 outflows are shown in the table below:
Third, institutional perspectives
(1) The communications sector will continue to benefit from the growth in computing power demand brought by "Digital China + Artificial Intelligence"
Zhongtai Securities believes that the development of large models has prompted the whole industry to actively move closer to artificial intelligence and combine. With the increasing demand for the expansion of artificial intelligence large models and the cost reduction brought about by the maturity of optical communication technology, the global optical module market is expected to grow rapidly. According to Lightcounting, the optical module market is expected to grow at a compound annual growth rate of 11% from 2021 to 2025, and the global optical module market is forecast to reach $11.3 billion in 2025.
In the future, the communications sector will continue to benefit from the growth in computing power demand brought by "Digital China + Artificial Intelligence". In the era of digital economy, the communication industry is expected to further improve the information and computing power infrastructure, ensure the rational construction of digital bases and highly reliable information transmission, and on this basis, empower the digital transformation of industries and enterprises through the extension of its own capabilities.
(2) Pay attention to the current configuration value of the communication industry
Guosheng Securities believes that attention should be paid to the current allocation value of the communications industry. In the second half of the year, with the further iteration and growth of AIGC (generative artificial intelligence), the importance of computing power construction and data elements will continue to be emphasized, and the high prosperity of optical communication and main equipment manufacturers is expected to continue.
For more information, please download 21 Finance APP