Investment Behavior Map Behind The A Share "V Reverse": Fund Redemption, Hot And Cold, Uneven Funds To Rush To Raise The "Rebound Pioneer"

The collapse of US stocks on Monday again tested the A share market.

At the beginning of March 10th, the Shanghai composite index rebounded and rose to 1.38% a minute after opening, but then the Shanghai composite index went down, rising until noon, and showing a "V" reversal scenario.

On that day, the Shanghai Composite Index closed up 1.82% points to 2996.76 points, a 1.29% drop in the intraday trading, a 2.65% rise in the Shenzhen stock index and 11403.47 points in the stock market, and 2148.81 points in the growth enterprise board. The turnover of Shanghai and Shenzhen two cities once again exceeded trillion.

At the same time, the hot plate is also switched again, the technology sector once again acts as a "pioneer of market rebound". Wind data show that in March 10th, the three industries in the world's telecommunications, electronics and computer industries took the lead. Their daily gains rose to 6.64%, 5.27% and 4.75% respectively. But in March 9th, when the market plummeted, the electronics and computer industries were the largest, with a daily decline of 6.49% and 6.34% respectively.

Behind the market turmoil, there have been different changes in the mentality of capital. According to the twenty-first Century economic news reporter, although the scale of initial fund raising is still close to ten billion, and the early closing of the fund raised, the new fund was affected by the market situation and the results were generally released. On the other hand, the rights and interests of the companies also showed different claims.

Main funds two days "reverse"

Although two consecutive days by the external market pressure, but A shares out of the opposite scenario.

In March 10th, the main funds in Shanghai and Shenzhen two cities showed a small net inflow state, and the two cities entered a total of 4 billion 859 million 310 thousand yuan. Among them, the large single net inflow of 14 billion 348 million yuan, small single net inflow of 9 billion 716 million yuan, large single and Zhong Shan showed a net outflow, the net outflow scale is 9 billion 489 million yuan and 14 billion 576 million yuan respectively.

From the industry sector capital flows, the leading electronic and communications industries gained a large net inflow of main funds, and the net inflow of the two funds exceeded 5 billion yuan. More than 100 stocks of the main investment net inflow of 100 million, including 000063.SZ, 603005.SH technology, Alex Hua Tian Technology (002185.SZ) and many other technology stocks net capital inflows ranked the forefront.

Compared with March 9th, the main funds on the same day showed a net outflow of 117 billion 736 million yuan a day, and the 28 industries in the Shen Yi class only had a small net inflow into the transportation industry. The net outflow of funds was electronic and computer, and two industries had more than ten billion net outflows.

At the same time, the northward capital showed a net inflow after experiencing the largest net outflow in March 9th. In March 10th, the net inflow of the northern capital reached 3 billion 96 million yuan, of which the net penetration of Shenzhen Stock amounted to 2 billion 470 million yuan.

"The market performance in March 9th mainly reflects everyone's concerns about the periphery. In fact, there is no need to be too pessimistic in the long run, and the market volatility in the near future will be relatively large." In March 10th, the director of investment fund of a public fund in Beijing told the business reporter in twenty-first Century, "the market is more affected by the emotional side than the fundamentals. In fact, it is unnecessary to fall into this position. In the short term, funds will see some new positive changes coming in. "

From the perspective of market performance in March 10th, the technology sector was raised by funds.

Wind data show that in March 10th, the top three stocks ETF were Huaxia 5G ETF, Huatai Barry Shanghai Shenzhen 300ETF, Huaxia chip ETF, and three ETF transactions were all over 3 billion yuan, and two were ETF for science and technology. At the same time, China's chip ETF and China 5G ETF rose by 6% over the same day.

But it is worth mentioning that when the market went down in the morning in March 10th, Huatai Barry Shanghai and Shenzhen 300ETF's turnover was once ahead of China's 5G ETF ranked first in the stock ETF. At noon on the same day, Huatai beri Shanghai and Shenzhen 300ETF turnover amounted to 2 billion 300 million yuan, while 5G ETF was 1 billion 895 million yuan.

Cash redemption differences

Under the market turmoil, the rhythm of public offering funds has not slowed down.

According to the twenty-first Century economic report reporter combing, March 9, a total of Yi Fang Da card technology 50ETF, huitianfu positive growth in the middle, the best time research optimization, Everbright Baode letter research selected 9 equity funds to start issuing.

Among them, huitianfu's positive growth, Yi Fang Da card technology 50ETF ended in March 9th, and from today's channel feedback information, huitianfu's active growth was first raised or over 10 billion.

But in twenty-first Century, the business reporter also learned that recently, the new fund of the fund company was affected by the poor market condition, resulting in lower performance than expected, and market differentiation still exists.

From the redemption of the stock fund, the feedback from several fund companies is also different.

"Yesterday, the company's equity fund showed a net redemption, including three party channels and bank channels, all of which are redemptions." In March 10th, a public fund official in Shanghai told the business reporter in twenty-first Century.

On the same day, a large public offering fund in Beijing also said, "in March 9th, the overall performance of the company's equity fund was net redemption, but the outflow was not large. It can be seen that some customers choose to convert into bond funds.

However, a public fund worker in Southern China said, "the overall performance of the company's equity fund in March 9th is net purchase, and it is mainly retail investors of third party channels and bank channels."

This is the same as that of a public fund holder with a background of foreign capital. "On the same day, many of the rights and interests of the electronic business platform are sold well."

At the same time, three agencies responded to our reporter that in March 9th, the equity fund was foreclosed as a whole.

"Our situation is relatively stable." A large public offering fund in Southern China said.

"Single day purchase and redemption can not explain too much problem. Every day, if there is progress, there will be no net redemption, and the usual redemption can be ignored." The director of a public fund research department of a brokerage company told the twenty-first Century business reporter.

In fact, from the current trend of buyers and sellers, the opportunity of market adjustment has been caught.

"Our view is neutral and optimistic, and overseas markets have limited impact on A shares, and can be adjusted if they are adjusted." The chief investment officer said.

A shares are rooted in the mainland and naturally have their own running rhythm. Although the external situation has still had a great impact on the market, it seems to us that it is a good opportunity to adjust the position. Zhang Xianjun, managing director of Danyang investment, pointed out.

"Since the meeting of the Standing Committee of the Political Bureau of the CPC Central Committee in March 4th stressed the need to accelerate the construction of new infrastructure, we have taken advantage of the huge fluctuations in the market to actively lay out new infrastructure areas." Zhang Xianjun said, "the main investment target is the one or two year performance outburst of a more deterministic upstream industry. The position is relatively biased towards 5G and the electrical industry. In addition, some traditional industries have shifted to the IT infrastructure industry. There may be a better opportunity to raise positions in A shares.

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