全球股指上周多数表现不佳，恒指跌周跌2.98%，恒生科技指数一周上涨5.65%；美股主要股指全线下跌，标普500指数下跌3.05%，纳斯达克下跌5.52%。The net redemption of equity ETFs last week was 1,368 billion yuan, increasing the overall size by 12.872 billion yuan.
I. Market Overview
A-share market: Last week (April 15 to April 19), A-share market performance was divided. The Shanghai Composite Index and Shenzhen Index fluctuated and closed higher. The Shanghai Stock Exchange 50 and Shanghai and Shenzhen 300 Index had the highest gains, while the GEM Index and Science and Technology Innovation 50 declined. The average daily turnover of the two markets was 934.529 billion yuan, an increase of 98.411 billion yuan compared to last Sunday's average turnover. There was a net capital outflow of 6.691 billion yuan to the north last week.
Most global stock indexes did not perform well last week. The Hang Seng Technology Index fell 2.98% a week, and the Hang Seng Technology Index rose 5.65% in a week; major US stock indexes fell across the board, the S&P 500 index fell 3.05%, and the NASDAQ fell 5.52%.
Looking at Shenwan's Tier 1 industry, the top five industries with a rise and fall were utilities (2.26%), coal (1.85%), non-ferrous metals (1.55%), textiles and apparel (-0.52%), and banks (-0.55%). The last five industries are: real estate (-7.13%), agriculture, forestry, animal husbandry and fishing (-6.05%), non-bank finance (-5.69%), food and beverage (-5.66%), and military (-5.05%).
Judging from fund performance, fund products with themes such as heavy infrastructure, home appliances, central enterprise dividends, military industry, and energy performed relatively well, while funds with themes such as games, tourism, innovative drugs, the Internet, and software performed relatively poorly.
II. Capital flow
The net redemption of equity ETFs last week was 1,368 billion yuan, increasing the overall size by 12.872 billion yuan. Among broad-based ETFs, the Shanghai Stock Exchange 50 ETF had the most net subscriptions last week, at 224 million yuan; by sector, consumer ETFs had the most net subscriptions, at 124 million yuan; in terms of hot topics, dividend ETFs had the most net subscriptions, at 908 million yuan.
III. The rise and fall rate of ETFs
Last week (April 15, 2024 to April 19, 2024, same below), the median weekly yield of equity ETFs was -0.01%. Among broad-based ETFs, the Shanghai Stock Exchange 50 ETF had a median increase or decrease of 2.34%, with the highest return. By sector, the median rise and fall rate of big financial ETFs was 2.74%, with the highest return. Classified by topic, the median rise and fall rate of bank ETFs was 4.43%, with the highest return.
Specifically, the infrastructure, Chinese capital stocks, semiconductor sector, and liquor sector registered the highest gains last week. The Guangfa Fund Infrastructure 50 ETF, Cathay Pacific Fund Central Enterprise Win-Win ETF, Pingnan Fund State-owned Enterprise Win-Win ETF, China Merchants Fund Semiconductor Equipment ETF, and Penghua Fund Liquor ETF rose 4.73%, 4.28%, 3.58%, and 3.04% respectively last week.
In terms of decline, the China Securities 2000 Index had the highest decline last week. Pingnan Fund's China Securities 2000 ETF strengthened, and Guangfa Fund's China Securities 2000 ETF GF fell 4.77% and 4.07% respectively last week. The gold stock sector also did not perform well; Huaxia Fund's gold stock ETF fell by 3.09%.
IV. Changes in fund shares
In terms of share growth, the most decisive increase in capital was the pharmaceutical-themed ETF. Huabao Fund Healthcare ETF, Bosch Fund Hang Seng Medical ETF, and Huaxia Fund Hang Seng Pharmaceutical ETF increased their shares by 1,317 billion shares, 1,058 million shares, and 515 million shares respectively last week.
It is worth noting that the shares of the China Securities A50 ETF fund were increased at the same time last week. The shares of the Morgan China Securities A50 ETF Index Fund, Wells Fargo Fund's China Securities A50 ETF, and Yinhua Fund's A50 ETF Fund increased by 392 million shares, 369 million shares, and 252 million shares respectively last week.
In terms of share decline, the shares of Huatai Berry Fund's China Securities A50 ETF and E-Fangda Fund's China A50 ETF decreased by 336 million shares and 243 million shares respectively last week.
The shares of the Science and Technology Innovation 50 ETF were also reduced. E-Fangda Fund's shares of the Science and Technology Innovation Board 50 ETF and the Huaxia Fund Science and Technology Innovation 50 ETF decreased by 498 million shares and 315 million shares respectively last week.
5. Emerging ETF products
A total of 5 ETFs were listed and traded last week, namely the China Securities 2000 Themed ETF, the China Securities Credit Innovation Themed ETF, the Hong Kong Stock Dividend ETF, the China Securities Semiconductor-Themed ETF, and the China Securities Dividendum-Themed ETF.
Eight new ETFs were established last week. They are the Huaxia China Securities Information Technology Application Innovation Industry ETF, the Bosch China Securities Low Dividend 100 ETF, the Science and Technology Innovation Chip ETF Southern, the Tibet Dongcai China Securities Chip Industry ETF, the Tianhong China Securities Chip Industry ETF, the Robotics Index ETF, the Haifutong China Securities Auto Parts Theme ETF, and the Bosch China Securities Oil and Gas Resources ETF.
Three ETFs will be issued this week: Cathay Pacific Shanghai Securities State-owned Enterprise Dividend ETF, Ping An China Securities Auto Parts Themed ETF, and Yinhua China Securities High Dividend Strategy ETF.
6. Hot news
The Shanghai and Shenzhen Exchange reached a consensus on expanding the scope of the Shenzhen-Shanghai-Hong Kong Stock Connect ETF
The Shanghai and Shenzhen Exchange reached a consensus on expanding the scope of the Shenzhen-Shanghai-Hong Kong Stock Connect ETF. The optimization of ETF targets this time mainly includes two aspects: one is to reduce the requirement for ETFs to be included in the scale; the other is to lower the index weight requirement for ETFs. After implementation of the optimization, it is expected that the number and scale of the Shenzhen-Shanghai-Hong Kong Stock Connect ETF targets will increase significantly, further enriching investment products in the two markets and making it easier for investors in the two places to allocate assets in each other's markets.
Over 300 billion yuan! Huijin significantly increased its ETF holdings in the first quarter
In the first quarter of this year, Central Huijin Investment Co., Ltd. increased its share of Huatai Berry Fund's Shanghai and Shenzhen 300 ETF shares by 26.356 billion shares. The E-Fangda Shanghai and Shenzhen 300 ETF, the Huaxia Shanghai and Shenzhen 300 ETF, and the Huaxia Shanghai and Shenzhen 300 ETF also received 45.706 billion shares, 15.867 billion shares, 15.64 billion shares, and 16.993 billion shares, respectively, in the first quarter.
