I. Market Overview

Last week, the three major A-share indexes showed different trends, with small cap and growth styles continuing to dominate, mid and small cap stocks outperforming large cap stocks, and the market trading volume remaining at 1.5 trillion. Specifically, the CSI 500, Chinext Price Index, SSE Science and Technology Innovation Board 50 Index, CSI 300 Index, and SSE 50 Index rose by 3.01%, 2%, 1.28%, 0.79%, 0.05% respectively.

Overseas equity asset indices experienced both gains and losses. The Nasdaq Index rose by 0.16%, while the S&P 500, Germany's DAX, Hang Seng Index, Hang Seng China Enterprises Index, Hang Seng Tech Index, Dow Jones Industrial Average, and Nikkei 225 fell by 0.96%, 0.99%, 1.03%, 1.16%, 1.37%, 2.68%, 2.74% respectively.

Commodity asset indices all rose. NYMEX WTI crude oil, ICE Brent crude oil, COMEX silver, and COMEX gold rose by 4.37%, 3.89%, 1.94%, 1.13% respectively.

II. Capital Trends

Last week, non-monetary ETFs saw a decrease in size of 21.128 billion yuan, with a net outflow of 46.316 billion yuan.

In terms of categories, commodity ETFs increased by 8.164 billion yuan in size, with a net inflow of 7.188 billion yuan; conversely, there was a significant outflow of funds in the science and technology innovation board-related index sectors, with a total net outflow of 25.901 billion yuan for the week.

Bond ETF saw an increase of 2.494 billion yuan in size, with a net inflow of 2.353 billion yuan; overseas non-Hong Kong stock ETF experienced a decrease in size of 2.094 billion yuan, with a net inflow of 0.241 billion yuan; overseas Hong Kong stock ETF decreased in size by 3.655 billion yuan, with a net outflow of 0.314 billion yuan;

Last week, stock ETFs saw a net redemption of 38.028 billion yuan, with an overall decrease in size of 15.347 billion yuan. Among broad-based ETFs, A500ETF had the highest net purchases last week, at 7.845 billion yuan; in terms of sectors, consumer ETFs had the highest net purchases, at 2.252 billion yuan; in terms of hot topics, healthcare ETFs had the highest net purchases, at 1.819 billion yuan.

From Monday to Thursday last week, the margin balance of stock ETFs decreased from 62.594 billion yuan in the previous week to 58.758 billion yuan, while the margin surplus increased from 1.588 billion units to 1.66 billion units. Among the top 10 ETFs with the highest daily margin buying amount and margin selling volume, the daily margin buying amount of STAR ETF and Chip ETF was relatively high, while the daily margin selling volume of CSI 1000 ETF and CSI 500 ETF was relatively high.

Specifically, China Southern Fund's A500ETF - Invesco, A500ETF - Southern Fund, A500ETF - Fullgoal, and A500ETF - Fortune SGAM saw a total net inflow of 10.313 billion yuan.

Multiple gold ETFs experienced net capital inflows, with Huaxia Gold ETF, E Fund Gold ETF, and China Southern Gold Fund ETF totaling a net inflow of 5.574 billion yuan last week.

On the capital outflow side, several broad-based ETFs saw investors taking profits last week, with a total net outflow of -13.154 billion yuan for two CSI 300 ETFs.

Capital continued to flow out of currency ETFs, with Yinhua Exchange Traded Money Market Fund-A and Hwabao WP Listed Money Market Fund-A seeing a total net outflow of -9.949 billion yuan last week.

Chinaamc Star50 ETF, Yifangda Gem ETF, and Chinaamc Star50 ETF recorded net outflows of 7.51 billion yuan, 6.374 billion yuan, and 31.51 billion yuan respectively.

III. ETF Performance Changes

Last week (from October 21, 2024 to October 25, 2024, the same below), the median weekly return of stock ETFs was 1.69%.

Among broad-based ETFs, china southern csi 1000 ETF had a median price change of 3.86%, with the highest return.

Categorized by sector, the median price change of sector ETFs was 3.87%, with the highest return. Classified by theme, ht-pb csi ptvt idt ETF had a median price change of 15.31%, with the highest return.

In the past week, Invesco Cni Xiangmi Lake Fintech ETF and ZhengquanETF Pioneer dropped by 5.58% and 3.88% respectively. E Fund CSI Technology 50 ETF and Hunan Creator Information Technologies ETF both dropped by 3.83% and 3.22% respectively.

4. Newly-launched ETF products

Last week, 2 new ETFs were established, the Huatai-PB Hang Seng Consumer ETF and the GF HSI HK Stock Connect ETF. This week, there will be the Hwabao CSI 800 Dividend Low Volatility ETF, the 300ETF Yongyin, and the Dongfang Securities SSE 50 ETF with a total of 3 ETFs issued.

5. Hot news

China International Capital Corporation: The position of actively biased equity funds has rebounded, and Hong Kong stocks continue to receive additional holdings.

According to research reports from China International Capital Corporation, in terms of public fund holdings, as the market rebounded in late September and the scale of ETF funds expanded, the proportion of stock holdings noticeably increased, while the proportion of bond holdings slightly decreased, with significant additions to Hong Kong stocks with good liquidity.

ETF surged wildly, the issue of "acquiring shares" has arisen.

With the advent of the era of passive investment, more and more 'giant' ETFs are emerging. Behind the elephant dancing, the less common issue of ETF 'shareholding' has begun to attract market attention. Recently, Semiconductor Manufacturing International Corporation issued a notification that the EasyETF Star 50 ETF holds more than 5% of the total domestic share capital of the company, and subsequently released another notification to the public due to a reduction in holdings by the ETF.

In the third quarter of this year, Central Huijin made large-scale shareholding of multiple broad-based ETFs, with just four 300etfs and ChinaAMC Shanghai A50 Exchange Traded Fund costing up to 300 billion yuan.

According to the latest disclosure of the fund's third-quarter report, in the third quarter of this year, Central Huijin Asset Management Co., Ltd. significantly increased its holdings of multiple broad-based ETFs, with a total expenditure of up to 300 billion yuan, involving only 4 CSI 300 ETFs and Huaxia SSE 50 ETF. According to the third-quarter reports for 2024 disclosed by Huatai-PB CSI 300 ETF, Yifangda CSI 300 ETF, Huaxia CSI 300 ETF, and Jiashi CSI 300 ETF, in the third quarter of this year, Central Huijin Asset Management Co., Ltd. made substantial purchases of the aforementioned ETFs, with a total expenditure possibly as high as 260 billion yuan.

3.5 trillion! In the third quarter of 2024, the scale of ETFs reached a new high again, with the top ten funds generating profits exceeding one hundred billion yuan on average.

In the third quarter of 2024, the overall scale of public offering ETF market reached a new high, reaching 3.5 trillion yuan, of which the non-monetary ETF scale reached 3.35 trillion yuan. The stock ETF scale showed the most significant increase, with the outstanding scale of some broad-based ETFs already surpassing 1 trillion. The development of public offering ETFs is actively driving market sentiment, with profit-making effects continuously emerging. Among the top ten funds in terms of profit in the third quarter, most are broad-based ETFs, with profits generally exceeding one hundred billion yuan.