During the Spring Festival, the overseas market remained basically stable. US trading 6 trading days (February 1 - February 8), the Dow Jones index closed up 0.43%, the Nasdaq index closed up 0.23%; Hong Kong stocks February 2 - February 8 total 2 trading days, The Hang Seng Index edged up 0.06% and the Hang Seng China Enterprises Index fell 0.97%.
It is worth noting that the momentum of accelerating foreign capital into the A-share market is becoming more and more obvious. The data shows that in the short 23 trading days since 2019, under the interconnection mechanismShanghai Stock ConnectNet inflowThe funds have reached 36.737 billion yuan.Deep shareThe net inflow of funds reached 29.461 billion yuan, and the net inflow of funds to the north reached a total of 66.235 billion yuan. Judging from the transaction, in the 23 trading days, Shanghai Stock Connect and Shenzhen Stock Connect have a net inflow of 20 trading days. According to historical data, the net purchase volume of Shanghai Stock Connect in January 2019 was second only to November 2014 when it was just opened; the Shenzhen Stock Exchange set a new monthly net inflow.
In fact, foreign capital has already “smashed” the Chinese stock market in 2018. According to China Merchants Securities Research, in 2018, although the size of A-share assets held by foreign investors shrank slightly, it did not reduce A-shares. Instead, it actively increased its holdings. The decline in scale was mainly attributable to valuation factors. According to the previous Lu Shares data and the latest report released by the People's Bank of China, overseas institutions have actively increased their holdings of A shares in 2018, and the net increase in shares through Lu Yingtong has reached 294.2 billion yuan, according to the latest announcement by the central bank. The full-caliber data is deducted from the valuation factors to estimate. In 2018, the cumulative increase in foreign-invested A-shares reached 335.5 billion yuan. According to simple calculations, foreign capital has lost a total of about 360 billion yuan in the A-share market in 2018. Foreign investors are not afraid of market adjustments and continue to buy. In addition to factors such as valuation advantages of some stocks, the inclusion of A-shares in international mainstream stock indexes such as MSCI is a very important factor.
Guojin Securities Research shows that as of January 2019,Northbound fundsHolding A stock market value of 785.327 billion yuan, accounting for 2.14% of the A shares market capitalization, foreign capital has become an important force in the A-share participants can not be ignored. From the industry point of view, as of January 2019, the five industries with the highest market capitalization of the holdings were concentrated in the consumer and financial industries, namely food and beverage (155.388 billion yuan), home appliances (87.691 billion yuan), and banks (77.853 billion yuan). ), non-bank (734.382 billion yuan) and medicine (60.686 billion yuan), the market share of positions accounted for 19.79%, 11.17%, 9.91%, 9.36% and 7.73%. Judging from the changes in the positions of the industry, in January, the funds in the north were mainly focused on warehousing, food and beverage, and banking.
(Article source: Economic Reference)