Retail investors are confused! Before the holiday, major players dumped 24.4 billion yuan through ETFs, and the strong communication sector was also sold off.

Ask AI · Gold ETF favored, communication sector abandoned, what is the reason for sector differentiation?

Everyday Economic News Reporter: Ye Feng Every day Editor: Xiao Ruidong

This week, stock indices collectively declined, with a total net outflow of 24.43B yuan from stock ETFs and cross-border ETFs in the Shanghai and Shenzhen markets.

In terms of industry themes, ETFs related to gold, batteries, and other sectors were favored by funds, while communication and coal-related ETFs were sold off by investors.

Over 24 billion yuan of funds exited via ETFs in the week before the holiday

In the week before the short holiday, the Shanghai and Shenzhen markets had a total transaction volume of 9.41 trillion yuan, with 4.15 trillion yuan in Shanghai and 5.26 trillion yuan in Shenzhen. As of the latest close, the Shanghai Composite Index closed at 3,880.1 points, down 0.86% for the week, and the Shenzhen Component Index closed at 13,352.9 points, down 2.96% for the week.

Wind data shows that this week, the combined net outflow of stock ETFs and cross-border ETFs in Shanghai and Shenzhen was 94.1k yuan, with broad-based index ETFs net outflows of 17.5 billion yuan, and industry theme ETFs net outflows of 41.5k yuan.

Looking at detailed segments, the overall fund subscription and redemption statistics for major broad-based indices show that this week, the Sci-Tech Innovation 50 and ChiNext Index experienced net inflows, while the CSI A500 had a net outflow of 52.6k yuan.

Regarding specific ETFs, the top 10 broad-based index ETFs with larger scales had a total net outflow of 24.43B yuan this week, including Huatai-PineBridge CSI 300 ETF, Southern CSI 500 ETF, Huaxia SSE 50 ETF, and Huatai-PineBridge CSI A500 ETF, each with net outflows exceeding 1 billion yuan.

Performance of major index-related ETFs this week

Some brokerages suggest that short-term market activity may remain subdued, with indices likely to fluctuate within a range. In the medium term, the market is expected to mainly oscillate with increased volatility. It is recommended to reasonably control positions and wait for spontaneous market turning points.

Gold-related ETFs attract funds, while booming communication ETFs are sold off

In terms of industry theme ETFs, 23 funds saw net inflows of over 100 million yuan this week. Among them, gold stock ETFs (Yongying), battery ETFs (GF), and non-ferrous metals ETFs (Tianhong) increased their shares by 4.06 billion, 4 billion, and 4.31 billion units respectively, with net inflows of 919 million yuan, 442 million yuan, and 366 million yuan.

On the outflow side, 44 industry theme ETFs experienced net outflows exceeding 100 million yuan this week. Notably, communication ETFs (Guotai), coal ETFs (Guotai), and real estate ETFs (Southern) saw reductions of 406M, 733 million, and 573 million units respectively, with net outflows of 1.16 billion yuan, 894 million yuan, and 771 million yuan.

It is worth noting that before the holiday, gold stocks were favored by funds, and related ETFs saw a slight increase in shares; meanwhile, communication ETFs were sold off by investors.

Gold stock ETF Yongying (517520) fund share changes

Some brokerages indicate that the medium-term trend of gold prices still depends on dollar credit and liquidity factors. After the recent Middle East conflict, the continuation of loose liquidity and weakening dollar credit are expected to further push up gold prices.

Communication ETF Guotai (515880) fund share changes

Analysts believe that the current AI trend is clear, with domestic and international cloud service providers increasing capital expenditure significantly. As a “selling shovels” industry in the computing power sector, the market size of communication is expected to continue growing.

19 ETFs with weekly trading volume exceeding 10 billion yuan

This week, 19 ETFs had a weekly trading volume of over 10 billion yuan, including Hong Kong stock innovation drug ETF (GF), Huatai-PineBridge A500 ETF, Southern A500 ETF, and Guotai CSI A500 ETF, each with weekly turnover exceeding 30 billion yuan.

It is noteworthy that several Hong Kong stock-related ETFs hit 60-day lows this week.

Some brokerages suggest that the irrational correction of the Hang Seng Tech Index has sufficiently released short-term emotional risks. Currently, the index shows four bottoming features: oversold conditions, valuation gaps, contrarian capital inflows, and improving fundamentals of the AI industry, with corporate buybacks ramping up. Sector support is clear, and the allocation value has significantly increased.

9 ETFs to be launched next week

Fund holdings are always a hot topic for investors, but the holdings of actively managed funds tend to lag behind, while ETF targets are very clear. Tracking newly listed ETFs can often reveal recent hot stocks, and the incremental funds brought by new ETFs are also worth noting.

Currently, one ETF has disclosed its listing for next week, tracking oil and natural gas.

Currently, nine ETFs have announced their issuance next week, tracking sectors such as non-ferrous metals, Hong Kong Stock Connect information technology, home appliances, automobiles, and oil and natural gas.

Daily Economic News