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last week, chinese assets were on the rise. stimulated by the heavy positive news, the a-share index rebounded across the board, and the three major hong kong stock indexes also collectively strengthened. the reporter learned from research that the market’s long-term forces are gathering and actively entering the market.

after a sharp rise in short-term gains, how will the market perform in the future? how do investors need to operate to seize market trends?

"the policy exceeded expectations! the market exceeded expectations!"

last week, the market ushered in a strong rebound, changing the previous shock trend and showing a hot and abnormal situation.

data shows that the shanghai composite index rose by 12.32% in four trading days, quickly recovering 3,000 points, approaching 3,100 points; the shenzhen composite component index rose by a cumulative 17.71% in four trading days, and the gem index rose by as much as 23.19% in four trading days. on september 27, the chinext index even gained 10% in a single day. the three major hong kong stock indexes collectively strengthened. as of the close of trading on september 27, the hang seng index had risen by 13.07% in 4 trading days, closing at 20632.30 points; the hang seng technology index had risen by 20.41% in 4 trading days, closing at 4453.24 points; the hang seng china enterprises index had risen in cumulative 4 trading days 14.26%, closing at 7299.90 points.

the market has strengthened, and the performance of fund products has also seen a recovery like "plucking onions from a dry land". according to wind data statistics, the net value of 106 funds (calculated separately for different shares) rose by more than 20% last week. huatai-pinebridge hong kong stock connect era opportunities, huatai-pinebridge new economy shanghai-hong kong-shenzhen rose by more than 27%, green boyuan, beixin ruifeng select growth and dongcai quality life select increased by more than 25% in a single week. driven by the sharp rise in the index, many etfs and index funds also achieved relatively high gains last week. boshi fintech etf, huabao csi fintech theme etf, and chinaamc csi fintech theme etf rose by more than or close to 30%. china merchants china securities liquor also rose by more than 27% last week.

"the policy exceeded expectations! the market exceeded expectations!" a fund manager summarized last week's policy and market this way. in his view, market expectations have changed significantly under the strong stimulation of policies. "the release of a series of favorable policies is like 'thunder rising from the ground', awakening all aspects of the market. market liquidity has increased, investor activity has increased, the index has risen sharply, and the net value of funds has risen sharply."

the power to do more is gathering momentum

the reporter’s investigation found that various bullish forces in the market are continuing to gain momentum.

a reporter from china securities news learned from an interview that a different market atmosphere has been clearly felt on the fund company side. a deputy general manager of a fund company told a china securities journal reporter that in the past week, the company's investment research team has experienced "qualitative changes." "the investment research team has begun to study the market and companies under new macro conditions." more what's important is that fund products are also experiencing changes in market capital. many fund companies said that in addition to listed fund products such as etf funds, there have been positive changes in the subscription situation of the company's rights-containing funds. "first, the number of inquiries about fund products from us has increased, and second, some flexible products have experienced the inflow of funds. i believe that more investors will use fund products to seize market opportunities in the future." a person in charge of the sales department of a fund company said .

in addition to public funds, reporters from the china securities journal also interviewed the business departments of a number of securities firms to understand investors’ judgments on market conditions.

the person in charge of the financial services business of a securities firm's sales department in xuhui district, shanghai, told reporters that recently, many customers of the sales department have made good profits amid the strong rebound in the market. according to his observation, for many customers of this business department, in most cases, the original positions have increased as the market has risen, and there is a certain lag in the time for additional investment. however, many investors have shown strong willingness to increase investment. warehouse will. this situation is also supported by relevant information from the sales departments of multiple securities companies.

strategically active and tactically flexible

from the perspective of fund institutions, with the support of favorable policies, overall investment can remain strategically positive and optimistic, while remaining tactically flexible, and remain sensitive and proactive in responding to some phenomena that appear in rising markets.

"generally speaking, the multiple policies and the rising public sentiment have jointly contributed to the recent surge in the equity market. the actual implementation of follow-up policies is equally important. we will closely track the new policies that may be introduced, and look for opportunities from the macro to the micro investment opportunities," blackrock said.

in terms of specific directions, fund institutions have also circled the key points.

"next, finance, real estate, consumption, hong kong stock technology, etc. will be our focus industries." a private equity fund founder told reporters.

manulife fund believes that from the perspective of policy introduction, specific measures such as interest rate cuts, rrr cuts, real estate, and capital markets are more beneficial to procyclical economic sectors whose valuations have been significantly adjusted due to the decline in economic fundamentals in the early stage, such as finance, real estate chain, consumption, and some commodities, hong kong stocks hang seng technology and other varieties. as follow-up policies continue to be introduced, the market rebound is expected to continue, and the valuation recovery of related products can be expected.

cathay fund pointed out that it continues to be bullish on the growth of the market that was oversold in the early period; finance most directly benefits from stock market policies; in addition, seizing the rebound trading opportunities of procyclical assets, home appliances, food and beverages, and medicine are the ones with better sustainability.

in addition, regarding specific fund investments, insiders in the fund industry pointed out that broad-based fund products such as market indexes have become the focus of market attention.