Data review
Stock market liquidity: market sentiment has cooled in the last week, with a net inflow of funds in the A-share market of - 15.7 billion yuan, compared with the previous value of - 10.8 billion yuan
Cold public offering: since the Spring Festival, the market differentiation has been obvious, the value style represented by steady growth continues to dominate, and the hot growth track of heavy institutional positions has been significantly corrected. The continuous decline of the profit-making effect exacerbated the pessimism of retail investors towards the market, resulting in the obvious cold of public offering. The shares of newly established partial stock public offering funds in the two weeks after the Spring Festival were 7 billion and 3.9 billion respectively, which was significantly smaller than the average of 31.5 billion in the three weeks before the Spring Festival.
Differentiation of domestic and foreign investment styles: our previous report "domestic and foreign investment styles tend to value after new year's Day" mentioned that since this year, under the differentiation of market styles, both domestic and foreign investment styles have shifted to value. In the recent week, with the rebound of the gem, the styles of domestic and foreign capital have differentiated, the style of domestic public offering has shifted from value to equilibrium, and the industry is biased towards consumption and TMT; Foreign capital still increased its positions in value sectors such as transportation and banking, and reduced its holdings in growth styles such as medicine, computer and electronics.
Risk warning: the scale of capital entering the market is roughly estimated, which is only for investors' reference; The second outbreak of the epidemic caused the performance of enterprises to fall short of expectations; Inflation rose faster than expected.
