On November 10, A-shares opened higher and then fell back throughout the day, with the three major indices all rising collectively. As of the close, the Shanghai Composite Index rose 0.08%, the Shenzhen Component Index rose 0.86%, and the ChiNext Index rose 1.46%. On that day, AI comic drama concept stocks strengthened again, AI glasses concept stocks pulled up in the afternoon, robotics concept stocks performed actively, and oil and gas stocks fell collectively.
Stock ETF funds overall showed a net outflow trend. On November 10, stock ETFs across the entire market had a total net outflow of 1.06 billion yuan, among which broad-based ETFs had a net outflow of 4.112 billion yuan, and sector-themed ETFs had a single-day net inflow of 2.909 billion yuan.
On November 10, net fund inflow into semiconductor ETFs reached 2.27 billion yuan
Wind data shows that as of November 10, the total scale of 1,623 stock ETFs (including cross-border ETFs) across the entire market reached 3.67 trillion yuan.
From the perspective of major types, sector-themed ETFs and strategy-style ETFs ranked at the top in net inflows, reaching 2.909 billion yuan and 377 million yuan, respectively. In terms of scale changes, the scale of sector-themed ETFs increased by 10.376 billion yuan.
Semiconductors saw the most obvious single-day net fund inflow, reaching 2.27 billion yuan; followed by the gold industry, with a single-day net inflow of 960 million yuan.
Some broad-based ETFs achieved net inflows, among which the STAR 50 Index had a net inflow of 720 million yuan, and the SSE 50 Index had a net inflow of 510 million yuan.
Looking at a longer time dimension, from the perspective of the past 5 days, recent fund inflows into STAR semiconductor materials and equipment exceeded 13.2 billion yuan.
Among leading public fund companies, E Fund's ETF latest scale is 740.44 billion yuan, with the scale increasing by 3.64 billion yuan yesterday. The scale of STAR 50 ETF E Fund is 44.346 billion yuan, with a net inflow of 646 million yuan; the scale of Semiconductor Equipment ETF E Fund is 15.453 billion yuan, with a net inflow of 219 million yuan; the scale of China Internet ETF E Fund is 36.654 billion yuan, with a net inflow of 139 million yuan; the scale of Dividend ETF E Fund is 19.098 billion yuan, with a net inflow of 119 million yuan; the scale of STAR Entrepreneurship ETF E Fund is 15.054 billion yuan, with a net inflow of 118 million yuan.
On the ChinaAMC ETF side, STAR Semiconductor ETF ChinaAMC and SSE 50 ETF ChinaAMC ranked at the top in single-day net inflows, with net inflows of 512 million yuan and 505 million yuan, respectively, and their latest scales reached 43.326 billion yuan and 48.642 billion yuan, respectively, with the corresponding tracked indices having average daily turnover of 6.004 billion yuan and 3.221 billion yuan, respectively, over the past month. CSI 1000 ETF ChinaAMC had a net inflow of more than 100 million yuan.
On the Southern Fund ETF side, Dividend Low Volatility 50 ETF had a single-day net inflow of 582 million yuan. In the technology growth sector, Semiconductor ETF had a net inflow of 16 million yuan, STAR Chip ETF had a net inflow of 12 million yuan, and Communications ETF had a net inflow of 7 million yuan; in the new energy sector, New Energy ETF had a net inflow of 20 million yuan, and Battery ETF had a net inflow of 7 million yuan; in the robotics sector, Robotics ETF had a net inflow of 5 million yuan.
Some broad-based ETFs saw prominent net outflow scale
In terms of net fund outflows, broad-based ETFs ranked at the top in net outflows on the previous trading day, reaching 4.112 billion yuan. Among them, CSI 300 ETF had a net inflow of 1.97 billion yuan, CSI 500 ETF had a net outflow of 920 million yuan, CSI A500 ETF had a net outflow of 920 million yuan, and ChiNext ETF had a net outflow of 900 million yuan.
Looking ahead to the market outlook, Lin Weibin, general manager of the Index Investment Department of E Fund, said that the improvement in profits of listed companies in the first three quarters further enhanced the market's attention to high-quality assets. After a relatively full style adjustment in the earlier period, the allocation value of core assets with stable profits, reasonable valuations, and industry competitive advantages has become more prominent. At the structural level, the long-term trend of the technology industry is still continuing, but the market's pricing of growth assets will place greater emphasis on profit realization, return on capital expenditure, and valuation matching, and the market trend is expected to shift from the previously more concentrated thematic trading to more balanced fundamental screening. Overall, the market in November is expected to gradually seek a new balance after the earlier adjustment, and under the combined effect of profit improvement and valuation digestion, the medium-term allocation value of high-quality assets is worth attention.
In terms of allocation, Lin Weibin suggests continuing to strengthen the bottom-position allocation value of large-cap core assets. After the earlier market adjustment, the advantages of core assets in terms of profit stability, valuation rationality, and industry leader status have become further highlighted, and they possess relatively good risk-return characteristics in a volatile environment. Broad-based indices represented by the CSI 300 Index and CSI A500 Index cover high-quality leaders in various industries, and can both participate in the overall recovery of corporate profits and reduce the impact of volatility in a single track on the portfolio through a relatively balanced industry structure. On this basis, one can moderately participate in growth directions that have been verified by performance and are supported by sustained industrial prosperity, so as to balance the stability and return elasticity of the portfolio.
This article comes from the WeChat public account "China Fund News" (ID: chinafundnews), author: Wang Siwen
