From December 27 to December 31, the total net inflow of funds going north was 14.669 billion yuan. The net inflow of Shanghai Stock connect was 6.796 billion yuan and the net outflow of Shenzhen Stock connect was 7.873 billion yuan. The previous period had a net inflow of 1.221 billion yuan. Among them, the net inflow of power equipment, banking and basic chemical industry ranked first, with an inflow of 3.712 billion yuan, 1.589 billion yuan and 1.533 billion yuan respectively; The net outflow of electronics, public utilities and household appliances was large, with an outflow of 589 million yuan, 586 million yuan and 413 million yuan respectively. On December 31, half of the top 20 heavy position shares were reduced, of which, Inner Mongolia Yili Industrial Group Co.Ltd(600887) , China Yangtze Power Co.Ltd(600900) and Wanhua Chemical Group Co.Ltd(600309) increased their holdings by 0.94%, 0.69% and 0.18% respectively; Foshan Haitian Flavouring And Food Company Ltd(603288) , Luxshare Precision Industry Co.Ltd(002475) and Gree Electric Appliances Inc.Of Zhuhai(000651) reduced their holdings by 1.93%, 0.26% and 0.17% respectively.
Chinese capital: the two financial institutions showed an upward trend this week. The balance of the two financial institutions on December 31 was 1832.152 billion yuan, up 172 million yuan from December 24. By industry, compared with the same period last month, the balance of two financial institutions in the industry rebounded by half. Food and beverage, public utilities and media picked up a lot, rising by 2.952 billion yuan, 2.534 billion yuan and 1.686 billion yuan respectively; Power equipment, electronics and non-ferrous metals fell more, down 6.288 billion yuan, 4.903 billion yuan and 3.955 billion yuan respectively. In combination with the funds for going north, the allocation of domestic and foreign capital in non-ferrous metals, medicine, biology and banks is relatively consistent; There are great differences in the configuration of power equipment, electronics and utilities. Compared with last week, SSE 50ETF fund, CSI 300etf, CSI 500etf and gem 50ETF fund increased by 1282.5 million, 155.7 million, 32.4 million and 242 million respectively.
Macro interest rate: this week, the central bank carried out a total of 650 billion yuan of reverse repurchase for seven days, the interest rate was the same as before, superimposed with the maturity of 50 billion yuan of reverse repurchase, and the central bank released a net liquidity of 600 billion yuan in this period. As of December 31, the overnight Shibor increased by 28.900 BP to 2.1290% compared with the previous period, and the 7-day Shibor increased by 32.800 BP to 2.2710%. Inter bank liquidity is tight. The yield of one-year treasury bond decreased by 9.57 BP to 2.2429%, the yield of three-year treasury bond decreased by 10.12 BP to 2.4584%, the yield of 10-year Treasury bond decreased by 4.49 BP to 2.7754%, and the risk-free interest rate decreased. Compared with December 24, the credit spread between three-year AAA / AA + / AA corporate bonds and government bonds in the same period increased by 8.19 BP to 0.50%, 7.19 BP to 0.66% and 8.19 BP to 1.25% respectively; Compared with December 24, the credit spread between one-year AAA / AA + / AA corporate bonds and government bonds in the same period increased by 5.41 BP to 0.51%, 7.41 BP to 0.63% and 5.41 BP to 0.81% respectively. Credit spreads all increased.
Risk tips: repeated outbreaks outside China; Monetary policy exceeded expectations
