Micro-cap stocks were higher, with the CSI 2000 Index **. As of 11:30 today, Yinhua **2000 Enhanced ETF and Huatai Pineapple **CSI 2000 ETF rose respectively. 74%, CSI 2000 ETF ChinaAMC, E Fund ** CSI 2000 Index ETF, ICBC Credit Suisse ** CNI 2000 ETF** rose more than 6%.
On February 6, ** Huijin Company announced that it fully recognized the value of the current A** market allocation, and has recently expanded the scope of exchange-traded open-ended index ** (ETF) holdings, and will continue to increase its holdings and expand the scale of its holdings, and resolutely maintain the smooth operation of the capital market.
After tracking the ETF volume of CSI 300, SSE 50, CSI 500 and CSI 1000, CSI 2000 ETF also released a huge amount.
In early trading today, the turnover of Huatai Pineapple ** CSI 2000 ETF and CSI 2000 ETF reached 35 respectively2.7 billion and 49.1 billion yuan. In terms of turnover rate, as of noon**, the turnover rate of Huatai Pineapple ** CSI 2000 ETF exceeded 309%, and the turnover rate of CSI 2000 ETF in the south ** has exceeded 407%.
Industry insiders said that the CSI 2000 Index is a market micro-cap wide index, and increasing the holdings of CSI 2000 ETF will help alleviate the liquidity crisis of micro-cap stocks, and many factors that inhibit the market will be lifted one by one.
The CSI 2000 Index is a representative broad-based index of micro-caps launched by CSI Index.
From the perspective of the compilation method, the CSI 2000 Index is in the sample space of the CSI All-Index, after liquidity screening, and after excluding the constituent stocks of CSI 800 and CSI 1000 and the top 1500 in the market with an average daily total market capitalization in the past year, the top 2000 ** in the remaining ** are selected according to the total market value in the past year.
To put it simply, the CSI 2000 Index contains a total market capitalization ranking of about 1800-3800, which can better reflect the performance of the Shanghai market micro-cap.
From the perspective of the distribution of index constituent stocks, the industry distribution of CSI 2000 index constituent stocks is generally balanced. In machinery, basic chemicals, computers, medicine, electronics, power equipment and new energy and other fields of science and technology, manufacturing and other fields of weight accounted for a relatively high proportion; The weight in traditional areas such as daily consumption, energy, and finance is relatively low.
Minsheng ** reviewed the 2015 leveling forces represented by securities companies and ** Huijin to enter the market: since June 2015, affected by market liquidity pressure, Wind Quana has exceeded 40% from mid-June to early July. In this process, the leveling forces represented by the securities company and ** Huijin entered the market to provide liquidity for A-shares. Initially, the strategy of leveling funds was to increase their holdings in broad-based ETFs. In its announcement on July 5, 2015, Huijin made it clear that it had recently launched a **ETF in the secondary market and would continue to operate in the relevant market.
From the perspective of ETF trading, since June 25, 2015, the trading volume of ** index ETFs related to SSE 50 and CSI 300 has expanded significantly. In late June 2015, the small and medium-cap style assets represented by the ChiNext Index, the CSI 500 Index and the CSI 1000 Index generally performed poorly, but the ** heavyweight stocks represented by PetroChina fell relatively little, and the banking sector even bucked the trend**. After investors became more vocal about the flattening force to increase liquidity support for small-cap stocks, the strategy of equalization funds also began to change, and they began to increase their exposure to small- and mid-cap style assets.
Since the beginning of July 2015, the trading volume of ETFs related to the ChiNext Index and the CSI 1000 Index has increased significantly. In addition, judging from the positions of securities companies and Huijin in the third quarter of 2015, among the new positions during the sharp adjustment of the A** market, the constituent stocks of the CSI 300 Index accounted for about 75%, and the constituent stocks of the CSI 500, CSI 1000 Index and other small and medium-cap assets accounted for about 25%.
From the perspective of market performance, after the equalization funds began to increase their positions in small and medium-cap assets in early July 2015, the small-cap style exceeded the ** style. In 2015, the process of leveling funds to increase their holdings of A-share related assets on a large scale roughly came to an end in mid-August.
On August 14, 2015, the China Securities Regulatory Commission (CSRC) issued an announcement clearly stating that "the market has gradually moved from violent abnormal fluctuations to normal fluctuations; In the future, the function of securities companies to stabilize the market will remain unchanged, but they will generally not operate in the market. ”
History doesn't simply repeat itself, but it always rhymes with the same rhyme.