On February 27, 2024, the performance of the three major A-share indexes was differentiated, the Shanghai Composite Index and the Shenzhen Stock Exchange Component Index turned red after opening low, and the core assets represented the A50 ETF (159601) intraday adjustment, and its holdings were mixed, with BYD, Oriental Wealth, Muyuan Shares, etc. Kingsoft Office, China Pacific Insurance, WuXi AppTec and others were among the top decliners.
According to wind data, as of February 26, 2024, banks and the food and beverage industry have received the top two northbound capital inflows, with cumulative inflows of 569.7 billion and 438.4 billion yuan, from the first level, Kweichow Moutai, China Merchants Bank, and CATL have inflows of 26 in the past week8.8 billion yuan, 102.9 billion and 100.2 billion yuan, far exceeding others**. From the perspective of the industries in which northbound funds have been the most advanced in the past, the constituent stocks of A50 ETF (159601) have been repeatedly favored with their good performance support and extremely high valuation and cost performance.
wind, as of 20240226
As of February 26, 2024, a total of 3,442 stocks were held by northbound funds, and the MSCI China A50 Connect Index was priced at 145% of the index constituent stocks account for nearly 30% of the market capitalization, reflecting a high degree of compatibility and representativeness with "smart money"! (Data**: MSCI, WIND).
From a valuation perspective, the latest price-to-earnings (PE-TTM) ratio of the MSCI China A50 Connect Index tracked by the A50 ETF is only 1009 times, in the last 5 years 19The 92% quantile, that is, the valuation is lower than more than 80% of the time in the past 5 years, and the valuation cost performance is highlighted.
wind, as of 20240226
According to the data, the top ten weighted stocks of A50 ETF (159601) are Kweichow Moutai, Zijin Mining, CATL, Wanhua Chemical, Industrial Fortune Union, China Merchants Bank, Yangtze River Power, BYD, Luxshare Precision and LONGi Green Energy, with the top ten weighted stocks accounting for 4626%。A50ETF (159601) packages 50 leading assets in 11 industries with one click, covering the performance of core leading assets in the A** market in a balanced manner, with high exposure of concepts such as core assets, heavy positions, main trading forces, moats, national teams, and securities.
wind, as of 20240226
Looking forward to the future trend of A-shares, a number of brokerages have given positive judgments. Haitong ** said that since the Spring Festival, China's economic fundamentals have been improving as a whole, promoting investor confidence to turn positive, superimposed on the recent positive factors of policy and capital are accumulating, and market sentiment has also warmed up significantly, and the core logic of the market has not changed.
Related products: A50ETF (159601) and its OTC connection** A:014530; c：014531）