This week, the Shanghai Composite Index fell below the 4000-point mark, while the ChiNext Index bucked the trend with gains. Overall, equity and cross-border ETFs in the Shanghai and Shenzhen markets recorded a net outflow of 8.76 billion yuan. From a sector perspective, healthcare-related ETFs attracted capital inflows, whereas chemical and nonferrous metals ETFs faced significant selling pressure.
Sector-themed ETFs experienced a net outflow of 26.2 billion yuan. Total trading volume in the Shanghai and Shenzhen markets reached 10.97 trillion yuan this week, with Shanghai accounting for 4.76 trillion yuan and Shenzhen 6.21 trillion yuan. At the latest close, the Shanghai Composite Index stood at 3957.05 points, down 3.38% for the week, while the Shenzhen Component Index closed at 13866.2 points, declining 2.9% over the same period.
Data from Wind shows that broad-based index ETFs saw a net inflow of 9.078 billion yuan, while sector-themed ETFs recorded a net outflow of 26.2 billion yuan. Among major broad-based indices, the CSI 300 Index attracted a net inflow of 6.558 billion yuan, whereas the CSI A500 Index experienced a net outflow of 6.202 billion yuan.
Among specific ETFs, the ten largest broad-based index ETFs collectively saw a net inflow of 12.412 billion yuan this week. Notably, the Southern CSI 500 ETF and the Huatai-PineBridge CSI 300 ETF each attracted over 4.3 billion yuan in net inflows.
Analysts pointed out that escalating tensions in the Middle East have heightened market concerns about prolonged conflict. Additionally, inflation worries triggered by energy shocks have reshaped global interest rate expectations, with markets no longer betting on Federal Reserve rate cuts within the year. However, securities firms believe the Middle East conflict is likely to affect only short-term sentiment and trading patterns in the A-share market, without altering its overall direction.
In the sector ETF space, 28 funds saw net inflows exceeding 100 million yuan this week. The Healthcare ETF, Tianhong Nonferrous Metals ETF, and Harvest Green Power ETF increased their shares by 2.374 billion, 865 million, and 461 million units, respectively, attracting net inflows of 794 million yuan, 787 million yuan, and 624 million yuan.
Conversely, 61 sector-themed ETFs experienced net outflows of over 100 million yuan. The Chemical ETF, Southern Nonferrous Metals ETF, and Nonferrous Metals ETF Fund reduced their shares by 4.859 billion, 1.696 billion, and 795 million units, respectively, resulting in net outflows of 4.373 billion yuan, 3.477 billion yuan, and 1.577 billion yuan.
Notably, the Healthcare ETF (512170) has continued to attract capital inflows, with its fund share volume quietly reaching a new record high since its listing. Analysts suggest that the government work report's inclusion of biopharmaceuticals as an emerging pillar industry—alongside integrated circuits, aerospace, and low-altitude economy—demonstrates continued policy support for the pharmaceutical sector, boosting market confidence. Combined with advancements in innovation and capital inflows, the热度 of China's biopharmaceutical industry is expected to keep rising.
Meanwhile, previously popular chemical and nonferrous metals ETFs faced substantial selling this week. Securities firms indicated that rising oil prices driven by Middle East conflicts have sparked inflation concerns, compressing the Fed's room for interest rate cuts and temporarily suppressing the financial attributes of nonferrous metals.
It is worth noting that the year-to-date gains of the Nonferrous Metals ETF have been completely erased. As of Friday, the ETF's secondary market cumulative return for the year stood at -0.52%.
This week, 24 equity and cross-border ETFs recorded weekly trading volumes exceeding 10 billion yuan. Among them, the A500 ETF Fund and Huatai-PineBridge A500 ETF each saw weekly trading volumes surpass 40 billion yuan.
Additionally, the Harvest S&P Oil & Gas ETF reached a record high in price this week. Analysts stated that U.S. and Israeli attacks on Iran could introduce more uncertainty to energy supply and transportation. They expect oil prices to maintain a short-term upward trend due to geopolitical influences. If tensions expand to the Strait of Hormuz and other Middle Eastern countries, oil prices may have further room to rise.
Looking ahead, one ETF tracking the new energy vehicle sector is scheduled to list next week. Meanwhile, five ETFs are set to be issued, focusing on home appliances, Hong Kong-listed automakers, information technology, Hong Kong-listed healthcare, and oil and gas sectors.
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