From February 14 to February 18, the total net outflow of funds from Beishang was 2.399 billion yuan. The net inflow of Shanghai Stock connect was 3.15 billion yuan and the net outflow of Shenzhen Stock connect was 5.549 billion yuan. The previous period saw a net inflow of 10.744 billion yuan. Among them, the net inflow of transportation, banking and power equipment ranked first, with an inflow of 1.881 billion yuan, 1.467 billion yuan and 1.154 billion yuan respectively; Medicine, biology, computer and architectural decoration flowed out 1.475 billion yuan, 1.128 billion yuan and 958 million yuan respectively. Compared with February 11, on February 18, more than half of the top 20 heavy warehouse shares were increased, of which Shenzhen Inovance Technology Co.Ltd(300124) , Inner Mongolia Yili Industrial Group Co.Ltd(600887) and Wanhua Chemical Group Co.Ltd(600309) increased their holdings by 0.65%, 0.27% and 0.25% respectively; Shenzhen Mindray Bio-Medical Electronics Co.Ltd(300760) , Ping An Insurance (Group) Company Of China Ltd(601318) and Midea Group Co.Ltd(000333) reduced their holdings by 0.27%, 0.12% and 0.11% respectively.
Chinese capital: the two financial institutions showed an upward trend this week. The balance of the two financial institutions on February 17 was 172.175 billion yuan, an increase of 71 million yuan compared with February 10. Compared with last week, as of February 18, the balance of two financial institutions in more than half of the industries fell. Among them, the balance of non-ferrous metals, architectural decoration and basic chemical industry rebounded significantly, rising by 1.522 billion yuan, 865 million yuan and 653 million yuan respectively; Medicine, biology, electric power equipment and coal fell more, down 620 million yuan, 454 million yuan and 395 million yuan respectively. Combined with the funds for going north, domestic and foreign capital are relatively consistent in transportation, banking and public utilities; There are great differences in the basic configuration of electric power and chemical equipment. Compared with last week, the fund shares of SSE 50ETF, CSI 300etf and gem 50ETF decreased by 66.6 million, 94.5 million and 894 million respectively; CSI 500etff fund shares increased by 69.9 million.
Macro interest rate: this week, the central bank has carried out a total of 50 billion yuan of reverse repo for seven days, and the interest rate is the same as before. Superimposed on the maturity of 300 billion yuan of reverse repo, the central bank has recovered a net liquidity of 250 billion yuan in this period. As of February 18, the overnight Shibor increased by 29.800 BP to 2.1100% compared with the previous period, and the 7-day Shibor increased by 7.700 BP to 2.1000%. Inter bank liquidity is tight. The yield of one-year treasury bonds decreased by 5.89 BP to 1.9781%, the yield of three-year treasury bonds decreased by 3.77 BP to 2.3088%, the yield of 10-year Treasury bonds increased by 0.84 BP to 2.7975%, and the risk-free interest rate increased. On February 18, the credit spread between three-year AAA / AA + / AA corporate bonds and government bonds in the same period increased by 6.76 BP to 0.56%, 3.76 BP to 0.70% and 0.76 BP to 1.18% respectively compared with February 11; Compared with January 28, the credit spread between one-year AAA / AA + / AA corporate bonds and government bonds in the same period decreased by 6.74 BP to 0.50%, 9.43 BP to 0.59% and 13.43 BP to 0.75% respectively. The credit spread increases or decreases by half.
Risk warning: repeated outbreaks outside China; Monetary policy exceeded expectations
