I. Market Overview

The performance of A-shares was subdued and then improved this week, and the Shanghai Composite Index rose 0.8% weekly. In terms of transactions, the average daily turnover of A-shares this week was about 850 billion yuan, down from the previous period; the net capital inflow to the north was close to 26 billion yuan, and the net inflow in a single day reached a record high on April 26.

At the stylistic level, the big-market blue-chip Shanghai and Shenzhen 300 rose 1.2%, while the small-market China Securities 1000 and China Securities 2000 rose 2.9% and 4.0% respectively. The dividend style did not perform well, and the China Securities dividend fell 3.6%.

At the industry level, TMT-related industries such as computers and electronics led the way; comprehensive finance and non-bank finance, which benefited from catalytic policy expectations, also performed well; sectors such as coal, petroleum and petrochemicals performed poorly.

II. Capital flow

Judging from the flow of funds in stock ETFs, there was a large net inflow of capital in this week's volatile market. According to Wind statistics, the management scale of more than 800 stock ETFs (including cross-border ETFs) in the entire market was nearly 1.5 trillion yuan, and the net capital inflow reached 11.247 billion yuan.

Capital flowed heavily into the small to medium capitalization index and large market index sectors, with net inflows of 7.100 billion yuan and 6.344 billion yuan respectively for the whole week. In contrast, the commodity ETF sector experienced a large outflow of capital, with a net capital outflow of 3.454 billion yuan throughout the week.

Judging from the tracking index, the Shanghai and Shenzhen 300, China Securities 500, and China Securities 1000 products are the varieties with the highest net inflows this week. The net capital inflows for the Huatai Berry Shanghai and Shenzhen 300 ETF, the Southern China Securities 500 ETF, and the Southern China Securities 1000 ETF all exceeded 1 billion yuan in a single week, totaling over 11 billion yuan.

However, the net outflow from Hong Kong stocks, brokerage firms and other related ETFs that performed relatively well this week was the highest. For example, the Huaxia Hang Seng Internet Technology ETF surged more than 16% this week, with a net outflow of over 700 million yuan; Huabao China Securities ETFs surged more than 6% this week, with a net outflow of over 400 million yuan.

III. The rise and fall rate of ETFs

Most A-share sectors rose this week (April 22-April 26). Among them, the TMT sector saw a relatively large increase, with an average increase of 4.69% for larger funds. In contrast, the cyclical sector saw the deepest decline, with funds above size falling 2.05% on average. Furthermore, the QDII-ETF sector saw the biggest increase, with larger funds rising by an average of 7.87%.

Funds with high “Hong Kong Stock Internet” content had the best returns this week. According to Wind data, as of April 26, 103 funds in the entire market had a weekly increase of more than 10%, and were almost all covered by Hong Kong stock themed funds. Among them, Hang Seng Internet Technology ETFs had the best increase, reaching 17.35%, and many Hong Kong Stock Connect Internet ETFs increased by more than 16%.

In terms of decline, coal and oil and gas-themed ETFs were at the top of the pullback in Hangzhou, while Cathay Pacific Fund coal ETFs and Guangfa Fund energy ETF funds fell 7.57% and 5.23%, respectively, this week.

IV. Changes in fund shares

Judging from the top 10 ETF share growth list, the top 9 are broad-based ETFs. The only industry-themed ETF is the Southern Fund Real Estate ETF. This ETF's share increased by 451 million shares this week, of which 345 million shares were purchased on Friday.

The shares of the Shanghai and Shenzhen 300 ETF, the China Securities 500 ETF, the Science and Technology Innovation 50 ETF, and the GEM ETF increased by 1,412 million shares, 617 million shares, 527 million shares, and 246 million shares, respectively, while the shares of the Shanghai Securities 50 ETF decreased by 229 million shares.

There are 11 industry-themed ETFs that increased their share by more than 100 million shares this week. Among them, real estate ETFs, pharmaceutical ETFs, and military ETFs increased by 451 million, 229 million, and 159 million, respectively.

In terms of capital outflows, 21 industry-themed ETFs lost more than 100 million shares this week. The shares of brokerage ETFs, semiconductor ETFs, and food ETFs decreased by 514 million, 350 million, and 336 million, respectively

5. Hot news

Three Huaxia Bosch and Ether ETFs approved

Huaxia Fund (Hong Kong), Harvest International, and Bosch International announced today that the first batch of Hong Kong Bitcoin spot ETF and Ethereum spot ETF products applied for by the three fund subsidiaries have all been approved by the Hong Kong Securities Regulatory Commission. They are scheduled to be issued on April 29 and listed on the Hong Kong Stock Exchange on April 30.

First batch of three Hong Kong Bitcoin ETF and Ether ETF rates released

Huaxia Fund (Hong Kong), Bosch Fund (International), Bitcoin ETF and Ethereum ETF owned by Harvest International were approved in Hong Kong today, and the rates for the three products were also disclosed simultaneously. Among them, products owned by Harvest International charge a 0.3% management fee, and management fees are reduced within 6 months; products owned by Bosch Fund (International) charge 0.6% management fees, and management fees are reduced within 4 months after issuance; and products owned by Huaxia Fund (Hong Kong) are charged 0.99% management fees.

Capital continued to pour into 211 broad-based ETFs, and the total size of the first quarter more than doubled year-on-year

According to Wind News data, as of April 26, 38 fund managers have disclosed their broad-based ETF (transactional open index fund) quarterly reports. The total net asset size of 211 broad-based ETFs is 1.21 trillion yuan, an increase of more than 2 times over the same period last year