China's ** newspaper reporter Tianxin.
*The ETF market continues to play out the "** mode".
The flow of funds shows that on January 10, **ETF attracted a total of 21With a net inflow of 3.1 billion yuan, CSI 300 ETF and ChiNext ETF continued to be favored by funds this week, maintaining the top net inflow. CSI 1000 ETF and CSI 2000 ETF have become the main force of "blood loss", but the scale of net outflow is not large.
Judging from the data from January 8 to 10, **ETF continued to "absorb gold", with a net inflow of more than 10 billion yuan for three consecutive trading days.
The net inflow of funds in a single day was 213.1 billion yuan
On January 10, the major A-share indices collectively closed down. The Shanghai Composite Index fell 054% to close at 287770 points; The Shenzhen Component Index fell 055% to close at 892279 points; The GEM index fell 043% to close at 174320 o'clock. The photovoltaic and food and beverage sectors strengthened against the market, while the media, games, consumer electronics, communications, and Internet sectors were among the top decliners.
From the perspective of ETF (including cross-border ETF) fund flow, in the adjustment on January 10, there was still a net inflow of funds. On the day, the total share of ** ETF increased by 167.9 billion shares, measured by the average transaction price in the range, the net inflow of funds reached 213.1 billion yuan
Judging from the net ** ranking of funds, on Wednesday, 8 ** ETFs had a net inflow of more than 100 million yuan, of which 6 were broad-based ETFs and 2 were industry-themed ETFs. CSI 300 ETFs and ChiNext ETFs still lead net inflows, but the momentum has slowed down compared to the previous trading day.
Specifically, the Harvest CSI 300 ETF had a net subscription of 17.6 billion copies, with a net inflow of 600 million yuan; E Fund CSI 300 ETF net subscription 17 billion copies, with a net inflow of 2$7.3 billion; ChinaAMC CSI 300 ETF net subscription 07.7 billion shares, with a net inflow of 25.7 billion yuan. In addition, E Fund ChiNext ETF, Wells Fargo SSE Index ETF, and Huaan Nikkei 225 Index ETF all had net inflows of more than 100 million yuan.
In addition, Huatai Pineapple's photovoltaic ETF and dividend ETF were net subscribed for 32.8 billion copies, 04 billion shares, with a net inflow of 28.5 billion yuan, 12 billion yuan, and it is also the only two industry-themed ETFs with a net inflow of more than 100 million yuan.
The pace of net inflows of funds from ETFs of top ** companies has not stopped. On January 10, E Fund's ETFs received a total net inflow of 600 million yuan. Specifically, the two broad-based ETFs are full of gold absorption, with the net inflows of E Fund CSI 300 ETF and E Fund ChiNext ETF reaching 2700 million yuan, 2300 million yuan.
It is worth mentioning that **ETF continued to "absorb gold", with a positive net inflow for three consecutive trading days this week, and the total net inflow of funds has exceeded 10 billion yuan. CSI 300 ETF and ChiNext ETF are the most popular varieties in the cost week.
Zeng Hao, general manager of Bosera ** equity investment and investment director of equity investment department, said that although the current market is still divided on the policy effect and the elasticity of economic recovery, the emergence of the bottom of the profit and the re-increase of leverage basically confirm that the current market has entered the bottom range, looking forward to 2024, the market is expected to go out of the **upward**, and the investment will be carried out along the three aspects of technological growth, traditional recovery chain and dilemma reversal.
Wanjia believes that, on the whole, the overall macro expectations at home and abroad in the first quarter are marginally good, and the index may rise, but subject to the high interest rate of U.S. bonds and the low slope of economic repair, the upside is not large, the market mainly presents structural opportunities, and thematic investment is relatively active. In the second quarter, market volatility may increase significantly due to the weakening of domestic macro expectations and the possibility that overseas inflation may once again bring hawkish interest rate hike expectations. In the second half of the year, after the real estate risk and overseas inflation risk are completely cleared through the adjustment of market pricing, the market index is expected to truly usher in a trend of upward opportunities. Therefore, the trend of the A-share index throughout the year may show a "" shape.
CSI 1000 ETF, CSI 500 ETF"Blood loss" continued this week
As of January 10, the total AUM of 834** ETFs in the market was 164 trillion yuan. Since January, the **ETF market has been dominated by net inflows, and the overall share has increased by more than 1706.7 billion shares (including newly listed**) were measured at the average trading price in the range, and the net inflow of funds reached 866.4 billion yuan.
Judging from the net outflow of funds, on January 10, the share of Huatai Pineapple CSI 300 ETF decreased by 06.4 billion copies, with a net outflow of 21.4 billion yuan, becoming the ** ETF with the largest net outflow of funds on the day; GF CSI 300 ETF had a net outflow of 20.8 billion yuan, ranking second; GF CSI 1000 ETF, Ping An CSI 2000 ETF Enhanced, and ChinaAMC SSE 50 ETF had net outflows of more than 0500 million yuan.
Since the beginning of this week, CSI 1000 ETF and CSI 500 ETF have been the main varieties of "blood loss". Among them, the net outflow of GF CSI 1000 ETF during the period was 98.2 billion yuan, with a net outflow of 28 during the year6 billion yuan; Huatai Pineapple CSI 300 ETF had a net outflow of 76.1 billion yuan, with a net outflow of 57 percent during the year$8.1 billion; CSI 500 ETF net outflow of 56.3 billion yuan, with a net outflow of 24 during the year$8.3 billion.
Golden Eagle ** said that the current market is pessimistic enough about the domestic economic expectations, the valuation difference between industries within the market has converged to a historical low, and the industry valuation quantile is generally low in the past history, and the market has been at the bottom of the range. Looking ahead, we will focus on changes in macro liquidity and important policy trends, especially on fiscal policy.
Wanjia ** believes that the investment direction in the first quarter is "pro-cyclical", focusing on resource stocks and infrastructure chains; In the second quarter, the market volatility increased, and the style was undervalued and dividends, focusing on energy, transportation, finance, military industry, etc.; In the second half of the year, as liquidity may turn to easing, the style is expected to shift to growth, focusing on TMT related to the digital economy (AI, information innovation, semiconductors).
Editor: Joey Review: Chen Mo.