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In the first trading week of May, the A-share market fluctuated strongly, with the major indices of the Shanghai and Shenzhen stock markets rising by more than 1% on a weekly basis, and northbound funds continued to flow in netly. In an interview with a reporter from the Financial Channel, a number of foreign-funded institutions clearly expressed their optimistic judgment on the prospects of China's assets.
CCTV reporter Wu Zheyu: Recently, foreign investors have been willing to allocate Chinese assets positively. Since May, northbound funds have continued to flow significantly into the net. Recently, Goldman Sachs, Deutsche Bank, UBS and many other international financial institutions have also raised their forecasts for China's economic growth this year. A number of industry insiders told me that the positive trend of China's macro economy and the expectation of deepening the reform of China's capital market are the main factors for Chinese assets to attract foreign investment in the near future.
The data shows that the total net inflow of northbound funds into the A-share market in the first quarter was 68.2 billion yuan. Up to now, the net inflow of northbound funds into A-shares in the second quarter has also reached about 10.8 billion yuan. In addition, the bond market and the equity market have resonated with capital inflows. As of April, foreign investors had been net buyers of Chinese bonds for seven consecutive months.
Meng Lei, China Equity Strategist at UBS Securities: The economic data in the first quarter was generally on the strong side. A growing number of overseas investors have gained further confidence in the valuation of China's stock market.
Zhu Bingqian, Chief Market Strategist of Neuberger Berman: "The "National Nine Measures" and other related policies continue to exert force, the stock market ecology of the market has changed, we see that the scale of dividends is also increasing, and the supply and demand structure is also continuing to improve.
The foreign institutions interviewed said that they will continue to pay attention to the allocation opportunities in the A-share market with the support of factors such as loose liquidity and good macroeconomic data.
Meng Lei, China Equity Strategist at UBS Securities: We are first optimistic about the style of high-quality growth, and earnings growth is in a stable trend.
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Editor: Zhang Jingye