Written before the opening:
It's really incredible! Northbound funds continue to sell Gree Electric.
According to yesterday's after-hours data, Gree Electric was ruthlessly sold 2.1904 million shares by northbound funds, with a net outflow of 87.356 million yuan.
As of yesterday, in the thirteen trading days of this month, northbound funds have insisted on Gree Electric Appliances 12 times, with a cumulative net outflow of about 500 million yuan.
Why are northbound funds not optimistic about Gree Electric?
Could it be that the current price of Gree Electric Appliances is really high?
Relevant data show that at present, the northbound funds of Shenzhen-Hong Kong Stock Connect hold 638 million shares of Gree Electric Appliances, accounting for about 11.32% of the total share capital, with a cumulative holding cost of 30.25 yuan and a shareholding profit of 30.79%.
It seems that the sell-off of northbound funds is not a cut of meat.
So, what is the institution's attitude towards Gree Electric?
According to the article "Exposure of the Top Ten Heavy Stocks of Public Funds" from China Securities Journal last night, the first quarter report of public funds in 2024 has been disclosed, and the latest top ten heavy stocks are Kweichow Moutai, Ningde Times, Wuliangye, Luzhou Laojiao, Zijin Mining, Tencent Holdings, Midea Group, Hengrui Pharmaceutical, Shanxi Fenjiu, and Lixun Precision. Among them, Midea Group is newly in the top ten, while Gree Electric is not on the list, but it is also a stock that public funds have increased their holdings in the first quarter.
Also in the first quarter, northbound funds also showed their favor for Gree Electric Appliances, as of March 28, a total of 669 million shares of Gree, accounting for 11.87%.
On December 29, 2023, northbound funds held 617 million shares of Gree Electric Appliances, accounting for 10.96%.
In other words, in the first quarter, northbound funds also increased their holdings in Gree Electric Appliances, with a cumulative net increase of about 52 million shares, an increase of 0.91%.
At present, it has not yet grasped how the relevant fund institutions entered and exited Gree Electric Appliances in April, so it is not possible to grasp the current attitude of the fund towards Gree Electric Appliances for the time being.
So the question is, as a fund of professional investment institutions, will it also follow the northbound funds and continue to reduce its holdings of Gree Electric in April?
After all, people are the market vane.
Morning:
As soon as the market opened, Gree Electric tried to rise at the price of 39.38 yuan, but it was only a minute for the price of 39.54 yuan to continue to fall.
At 10:02, the stock price finally stopped falling at 38.69 yuan and continued to consolidate.
At 10:07, the stock price began to return at the price of 38.70 yuan, but nine minutes later, it encountered resistance at the price of 39.11 yuan, and continued to fluctuate and consolidate until it closed at 39.14 yuan.
At that time, the handicap showed that the outer market was smaller than the inner market, the Shanghai Composite Index fell 12.47 points, or 0.41%, the super brand fell 3.21 points, or 0.24%, and Midea Group fell 2.92%.
Midday:
After the afternoon open, Gree Electric continued to consolidate in a narrow range until it finally closed at 39.15 yuan, down 1.06% throughout the day.
At that time, the handicap showed that the outer market was slightly smaller than the inner market, the Shanghai Composite Index fell 22.62 points, or 0.74%, the Super Brand fell 2.59 points, or 0.19%, and Midea Group fell 2.27%.
After-hours insights:
There is nothing to say, the market is approaching 3,000 points this time, and the defense battle is still in full swing, and it is the precious metals that were in the limelight before.
Gree Electric did not outperform the market, but its intraday performance was quite tenacious, which was stronger than Midea Group, because it did not rise yesterday.
The annual report is about to be released, and no one is stupid at this time, although there are many worries, but no one wants to stay away from it.
Don't move!