ETF Inflows: Broad-Based Positive, Sector-Specific Negative

In the first week of October, the A-share market shifted from a previous squeeze-style rally to a wide-range fluctuation, with stock ETFs transitioning from a significant net inflow at the beginning of the week to a slight net outflow by the middle and end of the week. Overall, the net inflow of funds into stock ETFs remained substantial for the week.

According to data from the Galaxy Securities Fund Research Center, as of October 11th, the net inflow of funds into stock ETFs (including cross-border ETFs) over the past week approached 150 billion yuan, with a net inflow exceeding 100 billion yuan on October 8th alone.

Looking at the indices, the ChiNext Index, the CSI 300 Index, and the STAR 50 Index were among the major broad-based indices favored by the market. Several leading ETFs tracking these indices saw net inflows of over ten billion yuan each over the past week. In contrast, ETFs focused on securities, chips, semiconductors, and dividend categories experienced fund redemptions.

The net inflow of funds into stock ETFs for a single week approached 150 billion yuan.

Observing the situation on last Friday (October 11th), broad-based ETFs were the only type to maintain net inflows, amounting to 718 million yuan, while industry ETFs saw a significant net outflow of 6.293 billion yuan.

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Specifically, in terms of indices, on October 11th, ETFs tracking the CSI 300 Index led the way with a single-day net inflow of 5.727 billion yuan, while ETFs tracking the CSI 1000 Index had the highest single-day net outflow, reaching 4.885 billion yuan.

From the perspective of the last five trading days, recent funds have flowed into ETFs tracking the CSI 300 Index and the ChiNext Index, exceeding 46 billion yuan and 43 billion yuan, respectively. The net inflow into ETFs related to the STAR 50 Index over the past five days also surpassed 38 billion yuan.

In terms of industries, no industry ETFs entered the top five for single-day net inflows, while ETFs related to the CSI All-Share Semiconductor and Securities Indices saw significant net outflows, amounting to 1.27 billion yuan and 1.627 billion yuan, respectively.

Looking at the past week, the Shanghai Composite Index rose and then fell. It reached a high of 3,674.40 points in the morning on October 8th before beginning a fluctuating correction, closing at 3,217.74 points on October 11th. The index fell by 3.56% for the week, with a weekly amplitude as high as 14.58%.

Affected by the market conditions, the inflow of funds into the stock ETF market also fluctuated.Data from the China Galaxy Securities Fund Research Center shows that on October 8th, there was a significant net inflow of funds amounting to 101.798 billion yuan, and on October 9th, the inflow continued with 51.693 billion yuan. However, the second half of the week saw a net outflow, with 1.75 billion yuan and 6.265 billion yuan outflowing on October 10th and October 11th, respectively.

Some ETFs under top fund companies continued to receive net inflows of funds. On October 11th, the China A-Share 300 ETF from Yifangda recorded a net inflow of 868 million yuan, bringing its total scale to 257.926 billion yuan. The ChiNext 200 ETF Yifangda, Shanghai Stock Exchange 50 ETF Yifangda, STAR Market and ChiNext ETF, and Artificial Intelligence ETF also received varying degrees of net inflows.

Among the ETFs under Huaxia Fund, on October 11th, the STAR Market 50 ETF saw a net inflow of 3.827 billion yuan, with its total scale reaching 108.945 billion yuan. The corresponding tracked index, the STAR Market 50 Index, had an average daily transaction volume of 7.734 billion yuan over the past month.

The ChiNext, China A-Share 300, and STAR Market 50 ETFs have attracted significant attention from funds.

As the "sharpest spear" tracking the stock market, during significant market fluctuations, many stock ETFs have garnered market attention.

According to Wind data statistics, as of October 11th, six stock ETFs saw a weekly net inflow of funds exceeding ten billion yuan. Among them, the Yifangda ChiNext ETF had a weekly net inflow as high as 36.449 billion yuan. The total scale of this ETF surged to 132.6 billion yuan on October 8th, entering the "club" of stock ETFs with a scale over ten billion yuan, and the scale remained above ten billion yuan in the following trading days.

The HuaTaiBoRui China A-Share 300 ETF, Harvest STAR Market Chip ETF, Huaxia STAR Market 50 ETF, Harvest ChiNext 50 ETF, and Yifangda STAR Market Board 50 ETF followed closely, with net inflow amounts reaching 17.574 billion yuan, 15.807 billion yuan, 15.288 billion yuan, 12.172 billion yuan, and 10.073 billion yuan, respectively.

HuaAn Fund stated that at the end of September, market sentiment saw a significant recovery due to the catalytic effect of a policy "big gift package." In terms of policy, the China Securities Regulatory Commission (CSRC) expressed support for corporate mergers and acquisitions to further promote the effective allocation of resources. It specifically mentioned supporting listed companies to upgrade and transform towards new qualitative productive forces, actively supporting listed companies to conduct mergers and acquisitions around strategic emerging industries and future industries, and supporting STAR Market and ChiNext companies to merge upstream and downstream assets in the industrial chain. Technology leader companies benefited, and investment opportunities in high-tech sectors represented by the ChiNext may begin to emerge.

From the perspective of net outflows, ETFs that had previously rebounded significantly in the sectors of securities, semiconductors, and chips faced profit-taking, and ETFs in the dividend sector also experienced varying degrees of net outflows.