From April 11 to April 13, the total net inflow of funds going north was 2.878 billion yuan. The net inflow of Shanghai Stock connect was 1.587 billion yuan and that of Shenzhen Stock connect was 1.291 billion yuan. The net outflow in the previous period was 6.557 billion yuan. Among them, the net inflow of power equipment, real estate and electronics ranked first, with an inflow of 4.058 billion yuan, 1.649 billion yuan and 1.628 billion yuan respectively; The net outflows of medicine and biology, non bank finance and steel were large, with outflows of 1.822 billion yuan, 1.108 billion yuan and 814 million yuan respectively. On April 13, more than half of the top 20 heavy positions were increased, of which Sungrow Power Supply Co.Ltd(300274) , Midea Group Co.Ltd(000333) and Zijin Mining Group Company Limited(601899) increased their holdings by 0.25%, 0.14% and 0.14% respectively; China stock market news, Wuliangye Yibin Co.Ltd(000858) and Longi Green Energy Technology Co.Ltd(601012) reduced their holdings by 0.18%, 0.08% and 0.07% respectively.
Chinese capital: the two financial institutions showed a downward trend in this period. The balance of the two financial institutions on April 14 was 1639176 million yuan, down 22.855 billion yuan from April 7. Compared with the previous period, as of April 15, the balance of two financial institutions in more than half of the industries fell. Among them, petroleum and petrochemical, coal and steel rebounded more, rising by 1.188 billion yuan, 705 million yuan and 389 million yuan respectively; Power equipment, real estate, medicine and biology fell by 1.927 billion yuan, 1.443 billion yuan and 1.266 billion yuan respectively. Combined with the funds for going north, domestic and foreign investment is consistent in medicine and biology, non bank finance and automobile; There are great differences in power equipment, real estate and electronics. Compared with the previous period, the fund shares of SSE 50ETF, CSI 300etf, CSI 500etff and gem 50ETF increased by 1447.2 million, 156.6 million, 08.4 million and 654 million respectively.
Macro interest rate: this week, the central bank carried out a total of 60 billion yuan of reverse repurchase for seven days, and the interest rate was the same as before. After the expiration of 40 billion yuan of reverse repurchase, the central bank released a net liquidity of 20 billion yuan in this period. As of April 15, Shibor had decreased 41.200 BP to 1.3390% overnight and 16.300 BP to 1.8220% in 7 days. Interbank liquidity was loose. The yield of one-year treasury bond decreased by 7.51 bps to 1.9918%, the yield of three-year treasury bond decreased by 0.87 bps to 2.3454%, the yield of 10-year Treasury bond increased by 0.49 bps to 2.7578%, and the risk-free interest rate decreased. On April 15, the credit spread between three-year AAA / AA + / AA corporate bonds and government bonds in the same period decreased by 2.53 BP to 0.62%, 5.53 BP to 0.77% and 2.53 BP to 1.08% respectively compared with April 8; Compared with April 1, the credit spread between one-year AAA / AA + / AA corporate bonds and government bonds in the same period increased by 2.92 BP to 0.52%, 1.92 BP to 0.63% and 1.92 BP to 0.80% respectively. The credit spread increases or decreases by half.
Risk warning: repeated outbreaks outside China; Monetary policy exceeded expectations
