UBS estimates that China has injected more than 410 billion yuan ($57 billion) into China** to boost the market. As a long-term investor, the "national team" is unlikely to cut its position in the short term.
UBS's calculations are based on 54 overtraded** stocks on Chinese exchanges. According to the report, the net inflow of funds into the CSI 300, CSI 500, CSI 1000 and CSI 2000 ETFs of the "national team" is respectively. 7% and 45%。The holding level of the "national team" this year is still far below the historical high, and there is potential for further increase in extreme market conditions.
From the perspective of ETF net subscription shares:
1. CSI 300 ETF
On February 23 and February 26, 2024, the net subscription amount is negative.
CSI 300 ETF E Fund had a large net subscription from January 16, with a net subscription of 2.3 billion on the 16th and 53 on the 22nd8.8 billion.
2. CSI 500 ETF
The CSI 500 ETF is significantly less sustainable than the CSI 300 ETF, and it is only pulse** from the graph.
3. CSI 1000 ETF
The net subscription of CSI 1000 ETF is also impulsive**, and its sustainability remains to be observed.
4. CSI 2000 ETF
By observing and comparing the net subscription of CSI 300 ETF and CSI ETF, the net subscription of CSI 300 ETF is the most continuous and lasts for a long time, indicating that the ** stock ** has not yet ended, at least the medium-term level**. The CSI ETF, which represents small and mid-cap stocks, has not shown sustainability in net subscription, and it remains to be seen that it is impulsive**.