27/6/2017-1

2.2 billion sought after three major A-share ETF half-year high

A shares (A8), A50 (02823, non-physical ETF) more A-share stocks after the disaster high.

ETF issuers said, with the MSCI into the A shares, domestic investors prefer heavyweight, pushing up the performance of large-scale index, but from the capital flow point of view, foreign capital temporarily not follow the ETF chase.

Credit Suisse Asia Pacific Investment Strategy Vice President Shao Zhiming is expected, A shares in the next 3 to 6 months will be behind the performance of H shares. Shao explained that the Mainland held in the autumn before the nineteenth, the domestic investment climate or tend to “steady"; the market is estimated that the Nineteenth Congress will release the signal to strengthen the supervision, or repeat the financial market before the leverage brought about by the pressure , It is recommended that investors should focus on the central approach to deleveraging measures, more than this year’s economic growth performance.

South A50, Aishao A50 rose about 1%, respectively, in July 2015 and August since the high. China Shanghai and Shenzhen 300 (03188, physical ETF) rose 1.4%, since the beginning of last year high, three ETF turnover totaled nearly 2.2 billion.

Nanfang Dongying ETF and index strategy chief strategist Li Ziwei said, A shares of the domestic market MSCI into the news of a sense of excitement, because MSCI into 222 A shares, 169 more than the original consultation, and is the AH shares simultaneously listed large A shares, so that the domestic funds to cover the relevant shares, good short-term atmosphere. Yesterday the mainland Shanghai index rose slightly by 0.9%, but the liquor stocks were bright, A50 fourth largest heavyweight Guizhou Maotai (Shanghai: 600519) rose 2.5%, a record high.

Foreign investors do not hurry to recover

However, Li Ziwei added that the recent A-share ETF purchase activities were not active, that even if MSCI into the A shares, foreign long positions fund long-term holdings of A shares, but foreign investors in no hurry to recover into the A-share market, or wait for A shares rise Will gradually increase holdings.

In recent months, A-share ETF has not seen a large purchase, the South A50, Aishao A50 in the past two months were outflow of 880 million and 570 million yuan, China and Shanghai May 300 cumulative total of about 2 billion net purchase.