Last week, A shares continued to rebound.In this context, more than 80% of A-share ETFs rose, with a total turnover of 197.375 billion yuan.Based on the average transaction price in the range, the net outflow of A-share ETF funds last week was about 6.487 billion yuan.Fund sources said that with the frequent buying of northbound funds recently, A-shares are expected to become a safe haven for global funds, and they are optimistic about "steady growth" related investment opportunities.
Broad-based index ETFs continue to see net outflows
Last week, A-share ETFs rose collectively, new energy and low-carbon-related ETFs continued to soar, and ETFs in tourism, military industry and other industries were also among the top gainers.Data show that last week, Harvest CSI Battery-themed ETF rose 8.28%, China Merchants CSI Battery-themed ETF rose 7.73%, E Fund CSI Mainland Low-Carbon Economy ETF rose 7.1%, Yinhua CSI Mainland Low-Carbon Economy ETF, Taikang CSI Mainland low-carbon economy-themed ETFs rose more than 6%.In addition, the Penghua CSI National Defense ETF rose 7.73%, and the Wells Fargo CSI Travel-themed ETF and the Huaxia CSI Travel-themed ETF rose more than 7%.
From the perspective of capital flow, coal and semiconductor-related ETFs have the highest net inflows.Based on the average transaction price in the range, the net inflow of Cathay Pacific CSI Coal ETF was 814 million yuan last week, the net inflow of Huaxia Guozheng Semiconductor Chip ETF was 716 million yuan, and the net inflow of Guolian An CSI All Index Semiconductor Products and Equipment ETF was 697 million yuan.In addition, the net inflow of the Southern China Securities All Index Real Estate ETF was 404 million yuan, the net inflow of E Fund CSI 300 Medicine and Health ETF was 372 million yuan, the net inflow of Penghua China Securities Wine ETF was 328 million yuan, the Huabao Zhongzheng Medical ETF, Huabaozhong The net inflow of securities companies' ETFs exceeded 200 million yuan.
Broad-based index ETFs were sold aggressively.Last week, the Huatai Pineapple CSI 300 ETF had a net outflow of 1.817 billion yuan, the Huaxia SSE 50 ETF had a net outflow of 863 million yuan, the Huaxia SSE Science and Technology Innovation Board 50 ETF had a net outflow of 745 million yuan, Huaan GEM 50ETF, E Fund GEM ETF, Nanfangzhong ETF had a net outflow of 745 million. The net outflow of the Securities 500ETF and Harvest CSI 300ETF exceeded 500 million yuan.
Optimistic about the A-share independent market
Regarding the recent market performance, Minsheng Plus Fund believes that A-shares have recently emerged from the independent market of "I-based", global stocks and bonds have doubled, and domestic profit recovery expectations and improved liquidity may be regarded as a safe-haven market by global capital. The recent large inflow of northbound funds reflects this mentality.Fluctuations in overseas markets may have a certain negative impact on A-shares in the short term, but due to the improvement of domestic factors, A-shares may still maintain an upward trend of periodic fluctuations.In the medium and long term, with the coordination and cooperation of monetary policy and fiscal policy, domestic corporate profits are expected to further recover and rise. It is recommended to pay attention to the direction of national strategic support, such as new and old infrastructure, agriculture, military industry, etc.
ICBC Credit Suisse Fund also stated that A-shares are expected to become a safe haven for funds to avoid overseas stagflation risks. With the gradual emergence of the "steady growth" policy effect, counter-cyclical regulation continues to increase, and the stage most affected by the epidemic has passed.It is recommended to continue to pay attention to the infrastructure, real estate industry chain and cyclical product valuation repair opportunities under the logic of stable growth, as well as growth sectors such as new energy power generation, consumer electronics, and new energy vehicles whose valuation and performance growth are more matched under the logic of high prosperity.
