I. Market Overview

A share market week (10/09 to 10/13)The three major indices continued to fluctuate and bottomed out, and there was a fierce battle over 3,100 points between long and short. The rebound triggered by Huijin's increase in holdings of the four major banks lasted only one day. Last Friday, the general market fell back into adjustment. The Shanghai Index fell 0.72% last week, the Shenzhen Index fell 0.41% weekly, and the GEM index fell 0.36% weekly. The average daily turnover of the two markets was 804.626 billion yuan, an increase of 10.312 billion yuan over the previous week. The net outflow of capital to the North was 13.145 billion yuan last week.

Global stock indexes had mixed ups and downs. The Hang Seng Index rose 1.87% last week, and the Hang Seng Technology Index rose 0.12%; the S&P 500 index rose 0.45% last week, and the NASDAQ fell 0.18%.

Due to the conflict between Palestine and Israel, crude oil and gold have both increased significantly. Brent crude oil rose 7.35% a week to $90.80 per barrel, and COMEX gold rose 5.46% weekly to $1945.90 per ounce.

Last week, the 30 CITIC Tier 1 industries had a lot of ups and downs. Industries such as electronics, automobiles, and pharmaceuticals performed well, while consumer services, construction, and building materials performed the worst last week.

In terms of the conceptual sector,Concepts such as cameras, consumer electronics foundry, mobile phone industry, memory, and Huawei cars performed relatively well, while tourism, aquaculture, major infrastructure, cement manufacturing, and air transportation performed poorly.

Judging from the fund's performance,Funds in the automotive, consumer electronics, biomedicine, and semiconductor sectors performed relatively well, while themed funds represented by tourism, infrastructure, media, gaming, national defense, and military industries did not perform well.

II. Capital flow

Last week, equity ETF capital had a net outflow of 9,941 billion yuan and a net inflow of currency ETF capital of 3,851 billion yuan. Among them, broad-based ETFs tracking indices such as the Shanghai and Shenzhen 300 and Shanghai Stock Exchange 50 had the highest net capital inflows last week. ETFs tracking indices such as the China Securities 500 and China Securities 1000 had the highest net outflows.

III. The rise and fall rate of ETFs

Of the 845 ETFs in the market, there were 332 ETFs with positive weekly gains and 493 with negative weekly gains, that is, 58.34% of ETFs fell throughout the week last week.

Last week, the average net value of equity ETFs fell 0.28%, and the average net value of commercial ETFs rose 0.47%; the average net value of cross-border ETFs rose 2.53%, and the average net value of bond ETFs fell 0.49%.

Specifically, automotive, consumer electronics, NASDAQ, and science and technology network stocks performed well last week. The Guangfa Electronics ETF, Huaxia Fund Consumer Electronics ETF, and Jingshun Great Wall Fund NASDAQ Technology ETF rose 7%, 5.91%, and 5.78% last week.

In terms of decline, the travel sector, infrastructure sector, film and television sector, and oil and gas sector experienced severe setbacks last week. Among them, the Wells Fargo Travel ETF, Cathay Pacific Infrastructure ETF, and Cathay Pacific Fund Film and Television ETF fell 7.33%, 4.55%, and 4.4% last week.

IV. Changes in fund shares

In terms of share growth, capital rekindled enthusiasm for broad-based ETFs last week. Among them, the shares of Huatai Berry Fund's Shanghai and Shenzhen 300 ETF surged 9.08% last week, while Huaxia Fund's share of the Shanghai and Shenzhen ETFs increased by 428 million shares and 363 million shares respectively last week.

In terms of industry-themed ETFs, funds have been allocated to military and medical care. The shares of Wells Fargo Fund's Leading Military ETF and Bosch Fund's Hang Seng Healthcare ETF increased by 475 million shares and 345 million shares respectively last week.

In terms of share reduction, capital is pursuing a strategy of increasing and decreasing holdings. The semiconductor ETF share of China League Security Fund fell by 1.33 billion shares last week.

Capital holdings of pharmaceutical-themed ETFs have been reduced for four consecutive weeks. The shares of E-Fangda Fund Pharmaceutical ETF and Huabao Fund's medical ETF decreased by 822 million shares and 675 million shares respectively last week.

Capital sold sharply to the China Securities 1000 ETF last week. Among them, the shares of China Southern Fund's China Securities 1000 ETF, Huaxia Fund's China Securities 1000 ETF, Yifangda Fund's China Securities 1000 Index ETF, and the China Securities 1000 ETF Index of the Guangfa Fund decreased by 590 million shares, 557 million shares, 524 million shares, and 518 million shares, respectively, last week.

Capital holdings of Huaxia Fund Science and Technology Innovation 50 ETF have been reduced for two consecutive weeks, reduced by 468 million shares last week, and 738 million shares in the last week of September.

5. Hot news

Optimistic about the investment value of the Chinese stock market, foreign-funded institutions are actively buying ETFs

According to China Fund News, while domestic investors are using ETFs to lay out market opportunities, foreign investors are also actively entering the market. According to public information, foreign giants have recently appeared among the top ten holders of newly established ETF products, including Barclays Bank and UBS Group.

World Gold Council: At the end of September, total global gold ETF holdings were still at their lowest level since March 2020

According to data from the World Gold Council, in September 2023, global physical gold ETFs once again flowed out. By the end of the month, the outflow was about 3 billion US dollars, which is equivalent to a reduction of 59 tons in holdings. In September, the total asset management scale (AUM) of global gold ETFs was US$19.8 billion, which was further affected by a drop of nearly 4% in gold prices; total holdings fell by 2% to 3,282 tons. In September, North America had the highest outflow of gold ETF funds, followed by Europe, while Asia continued to dominate global gold ETF inflows. By the end of September, total global gold ETF holdings were still at their lowest level since March 2020 (3,178 tons), 16% lower than the historical high of 3,916 tons in October 2020.

SZSE 50 is expected to become a new benchmark broad-based index

Recently, the Shenzhen Stock Exchange announced the release of the Shenzhen Stock Exchange 50 Index. Market analysis points out that the Shenzhen Stock Exchange 50 Index, as the flagship index of the Shenzhen market released in the context of China's economic transformation, has evolved with the times in terms of compilation methods. It will further enrich the investment targets of high-quality enterprises in Shenzhen and guide capital flows to leading enterprises in key national fields. It is expected to become a new benchmark broad-based index in China, and help the high-quality development of China's economy.