Entering November, volatility in overseas markets has intensified once again. On November 10 local time, the U.S. October CPI (Consumer Price Index) data was released, with core CPI holding at 0.3% month-over-month for a third consecutive month, breaking market expectations for continued disinflation. Rate hike expectations for the Federal Reserve quickly heated up, weighing on global equity valuations. At the same time, disagreements surrounding AI trading itself are also widening, with overseas tech stocks fluctuating at high levels and a growing willingness among funds to withdraw from a single narrative. (Source: Wind, as of November 11, 2026)
Against this backdrop of heightened global asset volatility and rising concerns over the overseas AI narrative, foreign institutions' assessment of China's core assets is shifting toward "structural bullishness." The head of BlackRock's China operations recently stated publicly that "from an asset allocation perspective, diversification is a long-term, unchanging need for global investors. High-quality Chinese assets have low correlation with overseas assets, and their economic cycles and growth drivers differ. The diversification effect is outstanding, and this allocation logic is sustainable." At the same time, several leading foreign investment banks including JPMorgan, Goldman Sachs, and UBS have also密集 released views, actively turning bullish on the A-share market. Data shows that from October 1 to November 8, a total of 288 foreign institutions conducted 1,237 cumulative research visits, with focus areas concentrated on power grid equipment, energy storage, and other targets, mainly focusing on listed companies' earnings realization and the cost-effectiveness after valuation pullbacks. (Source: Yicai, "Global Major Asset Classes See Increased Volatility, Foreign Capital Bullish on China Asset Allocation Opportunities," published November 11, 2026; Securities Daily, "Foreign Institutions Bullish on China Asset Allocation Value," published November 9, 2026)
The attention from foreign institutions is partly attributable to further reinforcement of top-level domestic policy deployment. On November 6, the State Council executive meeting proposed for the first time "improving the capital market stabilization mechanism," emphasizing the enhancement of the stock market's inherent stability and the promotion of steady and healthy capital market development. Supporting tools have also been rolled out at a tight pace: the relending program for stock buybacks and increased holdings has been converted into a long-term institutional arrangement, with the interest rate lowered to 1%, and banks have submitted quota applications to the central bank exceeding 200 billion yuan; the third batch of swap facility operations involved 31 securities firms and fund management companies, with intended declared quotas exceeding 100 billion yuan, and multiple brokerages have made clear that their winning quotas will be "fully put into use as soon as possible." This is another important deployment by the central government for the capital market following the recent密集 introduction of market stabilization policies by regulatory authorities, and is expected to further stabilize market expectations and boost investor confidence. (Source: Central Bank implementation of stock buyback and increased holdings relending policy, November 4, 2026; Shanghai Securities News, "Third Batch of 100 Billion Yuan Swap Facility Operations Land, Winning Brokerages Say: Will Fully Put Into Use as Soon as Possible," published November 4, 2026)
On the other hand, after continuous adjustments since July, the valuation and dividend yield of A-share core assets represented by the CSI 300 Index may have returned to an attractive range. Wind data shows that as of November 11, the CSI 300 Index's price-to-earnings ratio stood at 13.45 times, offering a certain undervaluation advantage compared with the Nasdaq Index (28.54 times) and S&P 500 Index (23.80 times) over the same period. In terms of dividend yield, the CSI 300 Index's latest dividend yield has risen to 3.00%, still offering a certain advantage relative to the 1.60% yield on 10-year government bonds. (Data source: Wind, as of November 11, 2026. The risk characteristics of investing in government bonds and stocks differ; investors should comprehensively consider investment risks when making investments.)
Against this backdrop, the broad-based index tool that provides balanced exposure to 300 leading companies with relatively solid fundamentals and stable profitability across both Shanghai and Shenzhen markets — CSI 300 ETF Huatai-PineBridge (510300) — has seen average monthly turnover of 8.767 billion yuan since the start of this month (November 1–11, 2026), highlighting its liquidity advantage. Recent fund flow data also shows that ETF products tracking the CSI 300 Index across the entire market attracted a cumulative 217.375 billion yuan over the past month (October 12–November 11, 2026), accounting for over 40% of the net inflows into all A-share broad-based ETFs during the same period, making it one of the main directions for capital inflows. (Data source: Wind, as of November 11, 2026; net inflows into all A-share broad-based ETFs during the same period totaled 541.933 billion yuan)
It is understood that CSI 300 ETF Huatai-PineBridge (510300) is among the first batch of cross-market ETFs in China, combining the roles of designated spot underlying for the Shanghai Stock Exchange CSI 300 ETF options contracts and margin trading/securities lending underlying. Its average daily turnover this year has reached 6.107 billion yuan, demonstrating a relatively significant liquidity advantage. Additionally, according to the 2026 semi-annual fund report, CSI 300 ETF Huatai-PineBridge (510300) recorded a profit of 19.043 billion yuan in the first half of 2026, with the number of unitholders reaching 511,900 as of June 30, indicating popularity among many investors. (CSI 300 ETF Huatai-PineBridge was established on May 4, 2012. Unitholder count data source: fund periodic reports; profit data source: fund periodic reports — current period profit, as of June 30, 2026; turnover data source: Wind, period January 1, 2026–November 11, 2026)
In terms of product fee rates, CSI 300 ETF Huatai-PineBridge (510300) has a management fee rate and custody fee rate of 0.15% per year and 0.05% per year, respectively, both at the lowest tier of fee structures among current A-share equity index products, providing a powerful tool to help investors allocate to the A-share market at low cost and achieve long-term investment. (Data source: product legal documents, as of November 11, 2026)
The manager of CSI 300 ETF Huatai-PineBridge (510300), Huatai-PineBridge Fund, is among the first batch of ETF managers in China, having深耕 the index investment field for nearly 20 years and committed to building ETF products with transparent investment targets, convenient trading, and rich strategy types. As of the end of September 2026, the company's ETFs have cumulatively generated 164.6 billion yuan in profits for unitholders since 2024, and its ETFs have cumulatively distributed 32.175 billion yuan in dividends since inception. MACD golden cross signals have formed; these stocks are performing well!
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