The bull is not yet 'mad'! The manager of the QUANSHANGETF (512000) Funds continues to be bullish!

Gelonghui, August 7 | On August 7, the Shanghai Composite Index once again broke through strongly, reaching a new high for the year during the trading session. Yesterday, the index also set a new closing high since 2022. Notably, following the margin balance returning to 2 trillion yuan, the A-share financing balance quickly surged to 2 trillion yuan, marking the first time since the 2015 bull market. There has been significant movement in the funds of the securities sector. Data from the Shanghai Stock Exchange show that the QUANSHANGETF (512000) has attracted capital for four consecutive days, totaling 3.61 billion yuan. As the 'bull market flag bearer,' the securities sector is significantly benefiting from the market's favorable cycle. Feng Chencheng, the fund manager of the QUANSHANGETF (512000), believes that multiple factors could catalyze the performance of the securities sector: First, the margin balance exceeding 2 trillion yuan, setting a new high in nearly a decade, with theme rotation and accumulation of wealth effects; second, the 'financing buy amount as a percentage of market turnover' is still some distance from last year's high (above 11%), indicating that market sentiment is not yet at a fever pitch; third, the securities sector's performance this year has lagged behind the consensus net income growth rate, suggesting that the 'summer rally' for lagging securities firms may continue.