Stock market liquidity tracking
Primary market: the IPO scale last week was 10.4 billion yuan, and the IPO scale the previous week was 6.7 billion yuan.
Secondary market: the scale of financing decreased last week, and the A-share secondary market showed a net outflow of funds. In terms of inflow, China's funds (stock + hybrid) issued 16.3 billion yuan, with 2.9 billion yuan flowing from the north and 2.6 billion yuan flowing from the South; In terms of outflow, the financing of Liangrong decreased by 25.1 billion yuan, the shareholding of important shareholders decreased by 100 million yuan, and the transaction cost was 9.2 billion yuan.
In April 2022 (as of April 15), the net capital inflow from going north was 700 million yuan. Last week, the top five net inflow industries were power equipment, electronics, real estate, non-ferrous metals and banks, and the top five net outflow industries were medicine and biology, non bank finance, steel, media and automobile.
In April 2022 (as of April 15), the net inflow of funds going south was 4.6 billion yuan. The top five stocks net bought in the month were CNOOC, meituan review-w, Yaoming biology, China building materials and China overseas development.
The top three net buyers of Hang Seng's primary industry are energy industry, real estate construction industry and health care industry, and the top three net buyers of Hang Seng's secondary industry are oil and gas, software services, drugs and biotechnology.
Investor sentiment: financing transactions accounted for 6.5% last week and 6.6% the previous week; The daily turnover rate was 1.4% last week and 1.4% the previous week; Institutions sold 84.1 billion yuan last week.
Lifting the ban on restricted shares: 48.8 billion yuan was lifted last week, 47.5 billion yuan was lifted the previous week, and 61.6 billion yuan is expected to be lifted this week.
Whole market liquidity tracking - "volume": money supply and derivative base money supply: the central bank's open market operation and MLF net withdrawal of 50 billion yuan last week. Last week, 40 billion yuan of reverse repo was invested, 20 billion yuan of reverse repo expired, and a net investment of 20 billion yuan of reverse repo was invested.
Credit currency derivation: in March 2022, M1 increased by 4.7% (4.7% in the previous period); The growth rate of M2 was 9.7% (9.2% in the previous period). In March 2022, social finance increased by 4.65 trillion yuan (about 1.19 trillion yuan in the previous period), and financial institutions increased RMB loans by 3.13 trillion yuan.
Whole market liquidity tracking - "price": capital interest rate and exchange rate money market: most of the short-term interest rates fell last week. Last week, Shibor's overnight interest rate decreased by 41bp, R001 by 30bp, R007 by 17bp, dr007 by 1bp, and 3-month interbank certificate of deposit yield by 1bp.
Treasury bond market: last week, 1y treasury bond yield fell 3bp to 2.03%, 10Y treasury bond yield rose 3bp to 2.77%, and term spread rose 6BP to 0.74%.
Risk tip: repeated epidemic control, global economic downturn exceeding expectations, overseas uncertainty.
