Reporter: Ye Feng Editor: Xiao Ruidong
ETF activity increased last week, with the weekly turnover of equity ETFs, currency ETFs, bond ETFs, and QDII ETFs increasing month-on-month, all hitting new highs in the past four weeks.
Specifically, among the broad-based ETFs, there are 11 ETFs with a weekly turnover of more than 4 billion yuan, 16 ETFs with a weekly turnover of more than 1 billion yuan in industry-themed ETFs, and 19 ETFs with a weekly turnover of more than 1 billion yuan in cross-border ETFs.
The weekly turnover of 3 broad-based ETFs exceeded 10 billion
Last week, the Shanghai and Shenzhen markets traded 3.93 trillion yuan, of which 1.7 trillion yuan were traded in Shanghai and 2.23 trillion yuan in Shenzhen. Overall, there was a contraction from the previous week.
In terms of ETFs, activity increased last week. The weekly turnover of equity ETFs, currency ETFs, commodity ETFs, bond ETFs and QDII ETFs was 223.415 billion yuan, 208.898 billion yuan, 6.332 billion yuan, 125.523 billion yuan and 98.603 billion yuan respectively, and the weekly turnover of equity ETFs, currency ETFs, bond ETFs and QDII ETFs increased month-on-month, all hitting a new high in the past four weeks.
From the perspective of individual ETFs, among the broad-based ETFs, there are 11 ETFs with a weekly turnover of more than 4 billion yuan, of which Huatai Pineapple 300 ETF, ChinaAMC SSE 50 ETF, and ChinaAMC SSE Science and Technology Innovation Board 50 ETF have a turnover of more than 10 billion yuan.
In addition, among the top 9 broad-based ETFs by turnover, there are 2 ETFs tracking the CSI 300 Index from Huatai Berry and Harvest Fund, and 3 ETFs tracking the SSE STAR Market 100 Index from China Asset Management, Penghua Fund and Bosera Fund.
From the perspective of market performance, ChinaAMC SSE Science and Technology Innovation Board 100 ETF fell by 1.25% throughout the week, hitting a new low in the middle of the week.
In addition, ETFs tracking the CSI 300 Index and the SSE 50 Index also hit new lows in nearly 60 days last week.
For the recent market, some brokerages said that overall, the market is about to enter the spring restless stage, and investors should have confidence in the market and wait patiently for the formation of a new capital resonance direction. In terms of industry allocation, we can pay attention to the following two main lines: first, thematic game opportunities catalyzed by industrial trends, which can be paid attention to: (1) the TMT sector with the electronics industry as the core under the new cycle of demand driven by the AI model from the cloud to the end, and (2) the automotive industry driven by intelligence in the second half of the automotive industry reform. The second is the policy game opportunity under the regulatory tone, which can be paid attention to: the brokerage industry under the gradual promotion of activating the capital market and building a first-class investment bank. In addition, we can also pay attention to the pharmaceutical industry that has the conditions for a bottom reversal and is waiting for catalysis.
16 industry ETFs have a turnover of more than 1 billion yuan
In terms of industry-themed ETFs, 16 ETFs had a turnover of more than 1 billion yuan last week.
The top trading volume is the securities ETF that tracks the securities company, with a weekly turnover of more than 4 billion yuan.
From the perspective of market performance, the wine ETF fell more than 5% last week, hitting a new low in nearly 60 days in the middle of the week.
Liquor ETF (512690) secondary market price
Some brokerages said that the current liquor industry low sentiment, low valuation, low position of the three low characteristics of the reappearance, the current industry trend and the operation of liquor companies to maintain a steady operation and relatively strong resilience, market sentiment fluctuations are far greater than industry changes, large fluctuations in sentiment bring layout opportunities, medium and long-term dimension plate allocation value highlighted.
In addition, the PV ETF fell 2.75% last week, hitting a record low.
PV ETF (515790) secondary market price
Some brokerages said that the current PE valuation level of the photovoltaic industry is at the lowest level in history. There have been breakthroughs in short-term perovskite cell and BC cell technology, but large-scale commercial application still takes time. Considering the supply of new capacity, it is expected that the industry will still be in the process of reshuffling, and the market will still be in the bottoming stage. In the long run, the photovoltaic industry is constantly iterating on new cell technologies with low market penetration and higher conversion efficiency, and the photovoltaic industry is facing a broad global market demand.
The better-performing game ETF and media ETF bucked the trend and rose more than 1% last week, both hitting new highs in the past 60 days.
In the view of brokers, the current competition among overseas technology giants based on AI multimodal large models is becoming increasingly fierce, or driving the continuous breakthrough of the underlying capabilities of large model multimodality, superimposed on the emergence of GPTs, AI applications are expected to usher in a period of rapid growth, and it is recommended to continue to lay out the game sector that has started commercialization or will benefit from AI multimodal models.
19 cross-border ETFs had a weekly turnover of more than 1 billion yuan
There were 19 cross-border ETFs with a turnover of more than 1 billion yuan last week, and the weekly turnover of Hang Seng Technology, Hang Seng Technology and Hang Seng Internet exceeded 11 billion yuan.
From the perspective of market performance, cross-border ETFs bottomed out and rebounded last week, with the Nasdaq ETF rising about 3% to a record high. In addition, a number of ETFs tracking Hang Seng Technology and Hong Kong Stock Connect Internet hit a new low in nearly 60 days in the middle of the week.
On December 13, local time, according to the minutes of the Federal Reserve's latest monetary policy meeting, the Federal Reserve decided to slow down the pace of interest rate hikes in December and maintain the target range of the federal funds rate between 5.25% and 5.50%. It is worth mentioning that Powell made a rare clear statement: interest rate cuts have begun to come into view.
Some market analysts believe that the end of the Fed's interest rate hike, and even the beginning of future interest rate cuts, U.S. bond yields can not remain high, and the U.S. dollar index is no longer strong.
National Business Daily