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China Fund News reporter Tian Xin

On July 25 (this Thursday), the three major A-share indices closed down with weak fluctuations, the Shanghai Composite Index once again fell below 2,900 points, and funds continued to enter the market through ETFs.

Data on fund flows in the stock ETF market showed that there was a net inflow of more than 12 billion yuan on Thursday, and broad-based ETFs still led the way in attracting funds. Among them, the CSI 300 ETF, CSI 1000 ETF, and Shanghai Composite Index ETF had the largest net inflows.

It is worth mentioning that this week, net capital inflows have been realized for four consecutive trading days, with a total net inflow of more than 35 billion yuan. Since July, stock ETFs have also shown a net inflow trend, with a cumulative capital inflow of more than 150 billion yuan.

Net capital inflow in a single day exceeded 12 billion yuan

According to Wind data statistics, as of July 25, the total scale of 907 stock ETFs (including cross-border ETFs) in the market was 2.24 trillion yuan.

This Thursday, the three major A-share indices continued to fluctuate weakly and closed down, with the Shanghai Composite Index falling below 2,900 points again. Dividend sectors such as nonferrous metals, energy, and finance adjusted collectively.

The flow of funds in stock ETFs shows that in the volatile market, funds are still mainly net inflows. It is estimated that the net inflow of funds in stock ETFs on that day exceeded 12 billion yuan. It is worth mentioning that this week, net inflows have been achieved for four consecutive trading days, with a total net inflow of more than 35 billion yuan.

According to the ranking of net buying funds, there were 21 stock ETFs with net inflows of more than 100 million yuan on Thursday, of which 18 were broad-based. The CSI 300 ETF, CSI 1000 ETF, and Shanghai Composite Index ETF became the main "money-attracting" funds.

Specifically, the CSI 300 ETFs under Huatai-PineBridge, E Fund, Harvest, and China Asset Management received a total net inflow of more than 8.7 billion yuan on the day. In the past five trading days, the above CSI 300 ETFs received an inflow of more than 48 billion yuan.

The CSI 1000 ETFs under Southern, Huaxia, GF, and Fortune had a total net inflow of nearly 1.1 billion yuan. The Shanghai Stock Exchange Index ETFs under Fortune and Guotai had a net inflow of nearly 700 million yuan. In addition, Guolian An Semiconductor ETF, E Fund ChiNext ETF, Ping An CSI A50 ETF, and Wanjia Dividend ETF ranked first in net inflow.

The market is volatile, and ETFs under the top fund companies continue to be sought after by funds. Data shows that on July 25, E Fund's ETFs received a total net inflow of 2.022 billion yuan, of which the CSI 300 ETF received a net inflow of 1.519 billion yuan, bringing its scale to 166.80 billion yuan; the ChiNext ETF also received a net inflow of 229 million yuan. In addition, the Artificial Intelligence ETF, CSI A50 ETF E Fund, and the Science and Technology Innovation Board 50 ETF also received net inflows to varying degrees.

Among the ETFs under China Asset Management, CSI 300 ETF received a net inflow of 1.061 billion yuan, with a scale of 118.028 billion yuan, CSI 1000 ETF received a net inflow of 294 million yuan, with a scale of 18.17 billion yuan, and SSE 50 ETF received a net inflow of 130 million yuan, with a scale of 118.874 billion yuan. The net inflow of chip ETF exceeded 100 million yuan, and the Science and Technology Innovation 50 ETF and Hang Seng Technology Index ETF also received net inflows.

Chip ETF, securities ETF, and semiconductor ETF had the largest net outflows

On July 25, the overall net outflow of stock ETFs was not obvious.

Judging from the net outflow of funds, on Thursday, four stock ETFs had a net outflow of more than 100 million yuan, with the science and technology chip ETF, securities ETF, and semiconductor ETF leading the way.

Among the top 20 stock ETFs with the largest net outflows, securities ETFs accounted for 4 seats, with a total net outflow of nearly 400 million yuan; 4 dividend ETFs had a net outflow of nearly 200 million yuan. In addition, industry ETFs such as chips, photovoltaics, games, and new energy also had net outflows to varying degrees.

Overall, if newly listed ETFs are excluded, stock ETFs have been dominated by net capital inflows since July, with a total of more than 154 billion yuan in funds attracted during the period.

Among them, the net inflow of CSI 300 ETF under leading public funds such as E Fund, Hua Xia, Huatai-PineBridge, and Harvest exceeded 106 billion yuan, accounting for nearly 70%; the net inflow of CSI 1000 ETF under Southern, GF, Hua Xia, and Fubon exceeded 23 billion yuan, and Southern CSI 500 ETF received a net inflow of more than 10.6 billion yuan during the period.

In addition, the SSE 50 ETF, Sci-Tech Innovation 50 ETF, ChiNext ETF, Nasdaq ETF, etc. also received considerable net inflows, while securities ETF, photovoltaic ETF, chip ETF, and CSI A50 ETF were the main directions of net outflows.

Wu Yang, manager of E Fund's active equity fund, said that although the direction of economic recovery is certain, it will take longer for the confidence of market players to recover and for the balance sheets of residents and government departments to be repaired. Looking at the history of global economic development, the upward spiral is a long-term law. Therefore, he is not pessimistic about the subsequent performance of the capital market and is full of patience.

Zhu Shaoxing, manager of the Fuguo Tianhui Growth Mixed (LOF) Fund, said that the overall valuation of the A-share market is currently at an extremely attractive position in the long term, and equity assets are currently in a very good risk-return range. If we take a longer-term view, we still believe that positive factors will eventually play a role.

Zhu Yi, manager of Huaxia Value Select Fund, believes that in the short term, the economic weakness is still continuing, and breaking the pessimistic cycle of reality and expectations requires external intervention. Next, we need to focus on exogenous variables such as real estate policies and fiscal policies. Only if there are positive changes can the current cycle be broken.

Editor: Xiaomo

Audit: Wooden Fish

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