Summary of the week
Market Overview: Last week (April 1 to April 5) A-shares only three trading days, investment activity declined, energy, non-ferrous metals, coal and other cyclical sectors led the rise, value style performance is better than growth style, broad-based index rose more and fell less, and the Science and Technology Innovation 50 Index continued to be under pressure. The weekly turnover was flat month-on-month, the transaction volume of the two financial institutions declined, and the balance of the two financial institutions fell below 1.5 trillion yuan. For the week, the Shanghai Composite Index rose 0.92%, the Shenzhen Composite Index rose 1.53%, and the ChiNext Index rose 1.22%.
Industry sector: Last week, the average increase of Wind Level 1 was 0.81%, and the Wind Top 100 Concept Index rose by about 71%. In terms of sectors, 77% of the sectors achieved positive returns, non-ferrous metals, basic chemicals, petroleum and petrochemical performed relatively well, up 6.81%, 4.09% and 3.42% respectively, and steel, environmental protection, light industry manufacturing and textiles and garments also performed well, with an average increase of more than 2%, while national defense and military industry, communications, and computers weakened significantly, down 1.97%, 2.22%, and 2.54% respectively.
Fund issuance: A total of 12 funds were issued last week, including 6 equity funds, 3 hybrid funds, 1 bond fund, 2 QDII funds, and 0 FOF funds, with a total of 6.377 billion shares.
Fund performance: The Wind All-Base Index rose 0.44% last week. Among them, the Wind Common Equity Fund Index rose 0.64%, the Wind Partial Equity Mixed Fund Index rose 0.65%, and the Wind Bond Fund Index rose 0.14%.
Weekly market
01
A review of global asset classes
In terms of major asset classes, overseas equity rebounded significantly last week, with the three major U.S. stock indexes in general and emerging market indices outperforming developed market indices as a whole. China Bond and U.S. bonds fluctuate in the same direction, commodity prices are differentiated, affected by Iran and Israel and the Middle East, international oil prices welcome the "six consecutive yang", and the recent frequent and intensive technology conferences, the rapid development of global data centers, AI industry and related technologies have boosted the demand for base metals, LME copper, LEM aluminum rose by 5.42% and 4.88% respectively during the week. In terms of precious metals, gold hit new highs, COMEX gold rose nearly 5% for the week, the dollar index came under slight pressure, and non-US currencies were mixed.
Chart 1: Global asset class returns
Unit: %
Source: Wind
02
Review of the domestic fund market
Chart 2: Mutual fund market index performance
Source: Wind
Last week, investment activity was lower, the weekly turnover was flat month-on-month, the transaction volume of the two financial institutions declined, and the balance of the two financial institutions fell below 1.5 trillion yuan. There was only one trading day of northbound funds in the whole week, and the net outflow since April was about 5 billion yuan.
Chart 3: Equity Market Sentiment Tracking
Source: Wind
Note: The colored markers of the Shanghai and Shenzhen Stock Exchanges are the 25%, 50% and 75% quantiles of the turnover within the date range of the horizontal axis statistics, which are only used for static display and do not contain any investment advice
In terms of industries, the average increase of Wind Level 1 last week was 0.81%, and the Wind Top 100 Concept Index rose by about 71%.
In terms of sectors, 77% of the sectors achieved positive returns, non-ferrous metals, basic chemicals, petroleum and petrochemical performed relatively well, up 6.81%, 4.09% and 3.42% respectively, and steel, environmental protection, light industry manufacturing and textiles and garments also performed well, with an average increase of more than 2%, while national defense and military industry, communications, and computers weakened significantly, down 1.97%, 2.22%, and 2.54% respectively.
Chart 4: Wind Tier 1 Sector Index performance
Source: Wind
Note: P/E ratio = total market capitalization of constituent stocks on the day / total net profit (TTM) of constituent stocks, when the net profit (TTM) of constituent stocks is negative, the P/E ratio is 0;
03
Review of the domestic bond market
The Treasury futures index (CFFEX10) edged down 0.03% last week. Among them, the short-end interest rate has converged rapidly, and the difference between the inter-agency funding rate (DR007-R007) has dropped significantly compared with last week. This week, the 30-year Treasury bond futures (TL2406) closed at 106.390 yuan, up 0.41%, back to near the high of late March.
Chart 5: Representative bond yield tracking
Source: Wind
04
Fund issuance
Last week, a total of 12 funds were issued, including 6 equity funds, 3 hybrid funds, 1 bond fund, 2 QDII funds, and 0 FOF funds, with a total of 6.377 billion shares.
Chart 6: Issuance in the mutual fund market
Source: Wind
01
02
03