On October 17, the turnover of the Shanghai and Shenzhen stock markets was 807.3 billion yuan, down 53.6 billion yuan from the previous trading day. Eastern Wealth Choice data show that the net purchase of stock ETFs on the floor yesterday reached 283 million, of which the net purchase of Shanghai stock ETFs was 177 million, and the net purchase of Shenzhen stock ETFs was 107 million. Based on the latest net value, yesterday's market net purchase amount amounted to $55 million.

The Ping An MSCI low-Wave ETF led gains

Data show that among the stock ETFs on the floor yesterday, Ping An MSCI low Wave ETF fund, science and technology information ETF fund and big data 50ETF fund rose by the most, of which Ping An MSCI low wave ETF fund rose by 9.75%, ranking first.

Photovoltaic ETF funds subscribed the most

Yesterday, the net purchase amount of the largest photovoltaic ETF fund, the net purchase amount of 240 million. In addition, the GEM 50ETF and the medical device ETF also ranked first, with a net purchase amount of 223 million yuan and 193 million yuan, respectively.

The CSI 300ETF was redeemed

The data also shows that the largest net redemption amount of the exchange stock ETF yesterday was the Shanghai and Shenzhen 300ETF fund, with a redemption amount of 419 million yuan, followed by the digital economy ETF fund, with a redemption amount of 308 million.

Institutions look at the future market

China Galaxy Securities believes that the current valuation of many industries is close to historical lows, and the valuation of high-quality companies is attractive, which is a good time for the medium-term layout. In the current period of frequent outbreaks of COVID-19 and weak momentum for economic recovery, the policy of stabilizing growth is expected to intensify.

At the same time, the overall market decline before the festival, funds choose to hold money for the holiday, the market turnover is thin, and the market itself is in the performance window period before the festival, the risk release of popular tracks in the early stage, and it is difficult to find the main line allocation of funds, but the overall liquidity of the A-share market is abundant, and the trading heat and valuation of some popular tracks have dropped to A low position, and the three quarterly reports are gradually disclosed. Funds or re-select the main line configuration to support the market.

Societe Generale Securities strategy team believes that the current bottom area is "more important than time", and it is suggested to focus on the structure of the layout in advance of the three quarterly reports and even the direction that the economy is expected to continue next year:

The "New semi-army" is expected to open a new round of upside in late October: on the one hand, the current valuation and congestion of many sub-industries of the "new semi-army" have fallen to a historically low level. On the other hand, late October was also a node where uncertainty at home and abroad gradually subsided. In addition, leading indicators also point to the "new semi-army" starting a new round of upward movement in late October. Focus on military (aero engine), energy storage, new energy vehicles (parts, lithium batteries), intelligent driving, semiconductors (materials) and other subdivisions.

Marginal improvement in consumption: Although the epidemic disturbance in various places still exists during the National Day, the recovery trend of consumption areas represented by tourism, hotels and home appliances is obvious. Looking back, under the two-wheel drive of demand release and policy stimulus, consumption is expected to gradually usher in a recovery. It is recommended to pay attention to liquor, aviation, hotel, duty-free and other directions

Article source: Oriental Wealth Research Center