Giant of Trillion-dollar market moves
01
Today's fund news overview.
1. Famous fund manager Dong Chengfei was impersonated.
On August 1, Ruizhun Asset Management stated that it has recently discovered that an institution is suspected of using the name of the company’s partner Dong Chengfei and conducting activities such as recommending stocks through WeChat public account “Cheng Fei Lun Shi,” seriously infringing upon the rights of the company and partner Dong Chengfei. Therefore, Ruizhun Asset Management stated that the company and partner Dong Chengfei have no relation to WeChat public account “Cheng Fei Lun Shi” (account certification subject: Guangzhou Chengfei Price Investment Business Consulting Co., Ltd.).
2. Huang Yan was appointed as the general manager of Dongxing Fund.
Dongxing Fund announced that Huang Yan took office as the general manager on August 1. His previous resume showed that Huang Yan served as the head of the bond issuance department of the Capital Planning Department of China Agricultural Development Bank, the head of the bond issuance department of the Financial Department, and the deputy general manager of the Financial Department, etc.; From September 2018 to January 2020, he served as the vice general manager of Anxin Fund; From February 2020 to October 2022, he successively served as the vice chairman, executive vice president, and vice president of Guolian Fund (formerly China National Chemical Investment Fund). He joined Dongxing Fund in May 2024.
02
Today's fund news overview.
1. $50 billion! Saudi sovereign wealth fund partners with 6 Chinese financial institutions.
On August 1st, local time, the Public Investment Fund (PIF) of Saudi Arabia announced on its official website that it has signed a memorandum of understanding worth up to $50 billion with six leading Chinese financial institutions, including the Agricultural Bank of China, Bank of China, China Construction Bank, China Export Credit Insurance Corporation, China Exim Bank, and ICBC.
2. Capital Research Global Investors has a latest asset management scale of over $2 trillion and its funds hold a total of 10.1066 million shares of Kweichow Moutai, making it one of the important shareholders of Kweichow Moutai. The flagship fund with the largest holding of Kweichow Moutai among them is the Europacific Growth Fund, which slightly increased its holding to 5.2322 million shares in the second quarter. Another fund under it, the American Fund New World Fund, currently has a size of approximately $60.3 billion and its holdings increased to approximately 3.3 million shares as of the end of the second quarter.
3. Ultra-long-term Treasury bond ETFs have repeatedly hit new highs.
Since this year, the performance of ultra-long-term Treasury bond ETFs has been excellent and the scale has grown rapidly. Today, both the “Bosera SSE 30-year Treasury Bond ETF” and the “Pengyang CIBM—30-year Treasury Bond ETF” hit historical highs again.
4. Highest since February! Net inflows of stock ETFs in July exceeded 170 billion yuan.
According to Wind data, the cumulative net inflow of stock ETFs in July this year reached 173.118 billion yuan, setting a new high since February this year. In comparison, the net inflows of stock ETFs in March to June this year were -0.092 billion yuan, 19.807 billion yuan, -18.795 billion yuan, and 77.229 billion yuan, respectively.
Today, A-shares continued to shrink and oscillate, led by the Chinext Price Index. As of the close, the Shanghai Composite Index fell 0.92%, the Shenzhen Component Index fell 1.38%, and the Chinext Price Index fell 1.66%. On the disk, pharmaceutical stocks rose against the trend, with CRO and innovative drugs leading the rise. The gold concept stocks rose in the afternoon. Commercial aerospace and low-altitude economic concept stocks were partially active. On the downside, AI hardware stocks collectively adjusted, and CPO concept stocks led the decline, with Tianshui Communications falling nearly 10%. Overall, most stocks fell and a few rose, with more than 4,100 stocks falling in the entire market. The turnover of the Shanghai and Shenzhen markets today was 722.3 billion yuan, a decrease of 60 billion from the previous trading day.
03
Today's ETF market review.
In the market this week, there has been rapid volatility, with a continuation of the downturn on Monday and Tuesday, and the index hitting a new low again; on Wednesday, there was a counterattack with strong volume and a universal rise, but Thursday and Friday saw weakness again, with shrinking volume oscillating. In terms of market performance, there has been rotation in concepts such as innovative drugs, robots, semiconductors, and securities, but their sustainability is poor.
In terms of ETFs, biomedicine was strong against the trend today, with Morgan Fund’s innovative pharmaceutical ETF and GF Fund’s medical ETF leading the rise by 2.05% and 1.49%, respectively. The pork sector rose, with China-AMC ETF and Penghua Fund’s livestock ETF both up 1%.
Pork sector rose, with China-AMC ETF and Penghua Fund’s livestock ETF both up 1%. Overall, most stocks fell and a few rose, with more than 4,100 stocks falling in the entire market. The turnover of the Shanghai and Shenzhen markets today was 722.3 billion yuan, a decrease of 60 billion from the previous trading day.
This year, the performance of ultra-long-term Treasury bond ETFs has been excellent and the scale has grown rapidly. Today, both the “Bosera SSE 30-year Treasury Bond ETF” and the “Pengyang CIBM—30-year Treasury Bond ETF” hit historical highs again.
US stocks fell again overnight, with the Nasdaq down 2.3%. The Nasdaq Technology ETF and the Nasdaq ETF fell by 6.86% and 5.45% respectively, with the former currently having a premium discount rate of 10.96%. Japanese stocks plummeted by 5%, with the TOPIX index and the E Fund Nikko N225 ETF(QDII) falling by 5.66% and 5.49% respectively. The semiconductor sector followed the decline, with the China-Korean Semiconductor ETF falling by 4.99%.
04
The latest updates on fund products.
