You panic me greedy! The Shanghai Composite Index scowled away more than 2 billion funds, but this sector rose against the trend and was being swept away by the main force

National Business Daily

2024-05-25 12:42Posted on the official account of Sichuan Daily Economic News

Reporter: Ye Feng Editor: Xiao Ruidong

This week, the Shanghai Composite Index hit a new high this year and then fell, and the major stock indexes adjusted one after another, with a total net outflow of more than 2 billion yuan from equity ETFs and cross-border ETFs in Shanghai and Shenzhen.

In terms of industry themes, pharmaceuticals and semiconductor-related ETFs are favored by funds, while securities and insurance-related ETFs are sold by funds.

ETFs had a net outflow of more than $2 billion this week

This week, the Shanghai and Shenzhen markets traded 4.24 trillion yuan, of which 1.84 trillion yuan were traded in Shanghai and 2.64 trillion yuan in Shenzhen. As of the latest close, the Shanghai Composite Index closed at 3,088.87 points, down 2.07% for the week, and the Shenzhen Component Index closed at 9,424.58 points, down 2.93% for the week.

ETF performance of major indexes this week

This week, the Shanghai Composite Index fell after hitting a new high this year, and among the five major index ETFs, the Science and Technology Innovation 50 ETF and the CSI 500 ETF fell by more than 3%.

In terms of capital trends, the shares of CSI 500 ETF, ChiNext ETF and CSI 300 ETF decreased by 606 million, 127 million and 82 million respectively, while the shares of SSE 50 ETF and Kechuang 50 ETF increased by 943 million and 635 million respectively.

The above five index ETFs had a total net outflow of about 1.4 billion yuan this week, of which the CSI 500 ETF had a net outflow of more than 3.3 billion yuan.

Overall, the stock index adjusted collectively this week, with a total net outflow of more than 2 billion yuan from equity ETFs and cross-border ETFs in Shanghai and Shenzhen.

For the recent market, some brokerages said that with the implementation of favorable domestic policies, market risk appetite is expected to increase, the current internal and external environment as a whole is conducive to the market to continue to stabilize and improve, the future stock index is expected to maintain a volatile upward pattern, while still need to pay close attention to the changes in policy, capital and external factors. It is recommended that investors pay attention to investment opportunities in aerospace, shipbuilding and electronic components industries in the short term.

PV ETFs bucked the trend and turned red

In terms of industry-themed ETFs, there were 26 funds with an increase of more than 100 million shares this week, of which pharmaceutical ETFs, semiconductor ETFs and medical ETFs increased by 1.267 billion, 744 million and 542 million respectively, with net inflows of 461 million yuan, 506 million yuan and 182 million yuan.

In terms of fund outflows, the shares of 13 industry-themed ETFs decreased by more than 100 million this week, and the shares of securities and insurance ETFs, ChiNext growth ETFs and securities ETFs decreased by 332 million, 313 million and 304 million respectively, with net outflows of 200 million yuan, 126 million yuan and 262 million yuan.

Photovoltaic ETFs bucked the trend this week, and funds chased into the market, and the share of the fund rebounded to 12.291 billion.

PV ETF (515790) Secondary Market Price and Share Changes

Some brokerages said that at present, the main photovoltaic industry chain has entered a comprehensive cash loss level, considering that the industry's capital expenditure has slowed down significantly, the supply of second- and third-tier enterprises has accelerated, combined with the end demand and cost support, the profitability of the industrial chain is expected to gradually recover. Looking ahead, module and inverter export data are expected to constitute a catalyst.

CSI 300 and SSE 50 related ETFs hit new highs in the past 60 days

ETFs have 4 ETFs with a weekly turnover of more than 10 billion yuan this week.

From the perspective of individual ETFs, the weekly turnover of Hang Seng Internet ETF, CSI 300 ETF, Hang Seng Technology Index ETF, and Hang Seng Technology ETF exceeded 10 billion yuan.

It is worth noting that this week, CSI 300 and SSE 50 related ETFs hit new highs in the past 60 days and then retreated.

According to the analysis of some institutions, although the Fed meeting minutes are hawkish, its long-term impact on the market may be limited, and the market is currently widely expected that the Fed will cut interest rates in September. Therefore, in the medium term, the stock index is expected to maintain a volatile upward pattern, but the short-term index may be dominated by shocks.

3 ETFs have been announced to be issued next week

Fund heavy stocks have always been the focus of investors' attention, but the emergence of actively managed funds of heavy stocks usually has a certain lag, while the subject of ETF layout is very clear, by tracking newly listed ETFs, it is usually possible to find recent hot stocks, and the incremental funds brought by newly listed ETFs are also worth paying attention to.

At present, there are 2 ETFs that have disclosed their listings next week, tracking the growth of gold industry stocks and ChiNext.

In terms of issuance, there are currently 3 ETFs disclosed for issuance next week, tracking Hang Seng Healthcare, Hang Seng Stock Connect Hong Kong Stock Connect and software services.

National Business Daily

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