January 22 ETF Fund Flows: CSI 300 Sees Single-Day Outflow of 46.6 Billion Yuan, CSI 1000 Outflows Reach 16.5 Billion Yuan; Chemical, Chip, and Nonferrous Metals Sectors Attract Capital Against the Trend

Deep News01-23

According to Wind data, on January 22, ETF fund flows continued to show a divergent pattern characterized by "significant outflows from broad-based indexes and selective inflows into thematic sectors." Large-cap broad-based ETFs, represented by the CSI 300, remained the primary direction for capital withdrawal, while sectors such as chemicals, nonferrous metals, semiconductors, and power grid equipment saw counter-trend capital inflows. From an index perspective, mainstream broad-based ETFs continued to face significant redemption pressure, with the scale of outflows remaining substantial. ETFs tracking the CSI 300 recorded a massive single-day net outflow of 46.644 billion yuan, bringing the cumulative outflow over the past week to 167.4 billion yuan, making them the main contributors to the fund exodus. ETFs linked to the CSI 1000 and the SSE 50 saw net outflows of 16.528 billion yuan and 5.208 billion yuan, respectively. ETFs tracking the ChiNext Index and the STAR 50 also registered net outflows of 3.118 billion yuan and 918 million yuan, indicating that overall sentiment towards the growth sector remains cautious. From a product-specific viewpoint, on the outflow side, four leading CSI 300 ETFs occupied the top four spots on the net outflow ranking, becoming the core instruments for capital withdrawal. Among them, Huatai-PineBridge CSI 300 ETF (510300.SH) and E Fund CSI 300 ETF (510310.SH) recorded net outflows of 16.255 billion yuan and 15.252 billion yuan respectively, ranking first and second in terms of outflow amount; ChinaAMC CSI 300 ETF (510330.SH) saw a net outflow of 8.952 billion yuan, and Harvest CSI 300 ETF (159919.SZ) had a net outflow of 6.282 billion yuan. The combined net outflow from just these four products amounted to approximately 46.7 billion yuan, accounting for the vast majority of the total outflows from broad-based ETFs for the day. Furthermore, ChinaAMC SSE 50 ETF (510050.SH) experienced a net outflow of 5.265 billion yuan, while the combined net outflows from ChinaAMC and Southern Fund's CSI 1000 ETFs also approached 10 billion yuan. On the inflow side, thematic sector ETFs became the focus of capital deployment. The chemical sector continued to attract interest, with Penghua Chemical ETF (159870.SZ) receiving an additional net inflow of 1.363 billion yuan for the day, and Fullgoal Chemical 50 ETF (516120.SH) also attracting 916 million yuan. The semiconductor and chip sectors received additional allocations: Harvest STAR Chip ETF (588200.SH) saw a net inflow of 931 million yuan, while GTJA Allianz Semiconductor ETF (512480.SH) attracted 425 million yuan. The nonferrous metals and power grid equipment sectors maintained their strength: Southern Nonferrous Metals ETF (512400.SH) and ChinaAMC Power Grid Equipment ETF (159326.SZ) recorded inflows of +915 million yuan and +866 million yuan respectively, moving in tandem with sectors like gold and power equipment. Additionally, sectors such as gaming, innovative drugs, and robotics also saw varying degrees of capital inflows, indicating a diversification of market hotspots.

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