From January 24 to January 28, the total net outflow of funds from Beishang was 26.071 billion yuan. The net outflow of Shanghai Stock connect was 15.465 billion yuan and that of Shenzhen Stock connect was 10.606 billion yuan. The previous period saw a net inflow of 29.197 billion yuan. Among them, the net inflow of public utilities, banks, agriculture, forestry, animal husbandry and fishery ranked first, with 635 million yuan, 175 million yuan and 43 million yuan respectively; Pharmaceutical and biological products, power equipment and non bank finance, respectively, flowed out 4.195 billion yuan, 3.666 billion yuan and 3.583 billion yuan. On January 28, more than half of the top 20 heavy position shares were reduced, of which Nari Technology Co.Ltd(600406) , China Merchants Bank Co.Ltd(600036) and Luxshare Precision Industry Co.Ltd(002475) increased their holdings by 0.24%, 0.13% and 0.03% respectively; Jiangsu Hengrui Medicine Co.Ltd(600276) , Ping An Insurance (Group) Company Of China Ltd(601318) and Ping An Bank Co.Ltd(000001) reduced their holdings by 0.35%, 0.29% and 0.24% respectively.
Chinese Funds: the two financial institutions showed a downward trend this week. The balance of the two financial institutions on January 28 was 1713.167 billion yuan, down 68.696 billion yuan from January 21. Compared with last week, the two financial balances of all industries fell as of January 28. Among them, the balance of beauty care, social services and textile clothing fell less, down 2.65 billion yuan, 3.073 billion yuan and 4.346 billion yuan respectively; Electronics, medicine, biology and computers fell by 89.683 billion yuan, 88.132 billion yuan and 74.610 billion yuan respectively. The combination of domestic and foreign capital is consistent with that of medical and electronic equipment; There are great differences in the allocation of public utilities, banks, agriculture, forestry, animal husbandry and fishery. Compared with last week, the fund shares of SSE 50ETF and CSI 500etf decreased by 1.440.9 billion and 0.08 million respectively; The fund shares of CSI 300etf and gem 50ETF increased by 126 million and 762 million respectively.
Macro interest rate: this week, the central bank has carried out 7-day reverse repo of RMB 0 billion and 14-day reverse repo of RMB 900 billion. The interest rate is the same as before, superimposed with the maturity of RMB 500 billion reverse repo, and the central bank has released a net liquidity of RMB 400 billion in this period. As of January 28, the overnight Shibor decreased by 86.300 BP to 1.2000% compared with the previous period, and the 7-day Shibor increased by 13.800 BP to 2.2500%. Interbank liquidity is loose. The yield of one-year treasury bonds decreased by 5.11 BP to 1.9507%, the yield of three-year treasury bonds decreased by 1.99 BP to 2.2415%, the yield of 10-year Treasury bonds decreased by 0.79 BP to 2.7021%, and the risk-free interest rate decreased. On January 28, the credit spread between three-year AAA / AA + / AA corporate bonds and government bonds in the same period increased by 1.15 BP to 0.55%, decreased by 0.85 BP to 0.75% and decreased by 1.85 BP to 1.30% respectively compared with January 21; Compared with January 21, the credit spread between one-year AAA / AA + / AA corporate bonds and government bonds in the same period increased by 0.38 BP to 0.55%, increased by 0.38 BP to 0.68% and decreased by 1.62 BP to 0.88%. The credit spread increases or decreases by half.
Risk warning: repeated outbreaks outside China; Monetary policy exceeded expectations
