From April 19 to April 22, the total net inflow of funds going north was 445 million yuan. The net outflow of Shanghai Stock connect was 1.328 billion yuan and the net inflow of Shenzhen Stock connect was 1.773 billion yuan. The previous period saw a net inflow of 2.878 billion yuan. Among them, the net inflow of power equipment, non bank finance and pharmaceutical biology ranked first, with an inflow of 4.275 billion yuan, 1.902 billion yuan and 1.284 billion yuan respectively; The net outflows of electronics, banking and automobiles were large, with outflows of 2.477 billion yuan, 995 million yuan and 978 million yuan respectively. On April 22, more than half of the top 20 heavyweight shares were reduced, of which Gree Electric Appliances Inc.Of Zhuhai(000651) , Contemporary Amperex Technology Co.Limited(300750) and China Yangtze Power Co.Ltd(600900) increased their holdings by 0.23%, 0.21% and 0.15% respectively China Merchants Bank Co.Ltd(600036) , Nari Technology Co.Ltd(600406) and Longi Green Energy Technology Co.Ltd(601012) reduced their holdings by 0.30%, 0.11% and 0.11% respectively.
Chinese capital: the two financial institutions showed a downward trend in this period. The balance of the two financial institutions on April 21 was 1639176 million yuan, down 25.224 billion yuan from April 14. Compared with the previous period, as of April 22, the balance of two financial institutions in more than half of the industries fell. Among them, banks, textile and clothing, petroleum and petrochemical industry picked up a lot, rising by 576 million yuan, 27 million yuan and 24 million yuan respectively; Non bank finance, medicine, biology and power equipment fell more, down 2.361 billion yuan, 1.795 billion yuan and 1.657 billion yuan respectively. Combined with the funds for going north, domestic and foreign investment is consistent in electronics, automobile and steel; There are great differences in power equipment, non bank finance and pharmaceutical biology. Compared with the previous period, the fund shares of SSE 50ETF, CSI 300etf, CSI 500etff and gem 50ETF increased by 350.1 million, 24.3 million, 04.4 million and 1082 million respectively.
Macro interest rate: this week, the central bank carried out a total of 50 billion yuan of reverse repurchase for seven days, and the interest rate was the same as before. After the expiration of 60 billion yuan of reverse repurchase, the central bank tightened the liquidity by 10 billion yuan in this period. As of April 22, the overnight Shibor decreased by 8.400 BP to 1.2550% compared with the previous period, and the seven-day Shibor decreased by 12.200 BP to 1.7000%, with loose inter-bank liquidity. The yield of one-year treasury bonds decreased by 3.76 BP to 1.9542%, the yield of three-year treasury bonds increased by 7.48 BP to 2.4202%, the yield of 10-year Treasury bonds increased by 8.31 BP to 2.8409%, and the risk-free interest rate increased. On April 22, the credit spread between three-year AAA / AA + / AA corporate bonds and government bonds in the same period decreased by 9.44 BP to 0.53%, 7.44 BP to 0.70% and 9.44 BP to 0.99% respectively compared with April 15; Compared with April 15, the credit spread between one-year AAA / AA + / AA corporate bonds and government bonds in the same period decreased by 0.66 BP to 0.52%, increased by 0.34 BP to 0.64% and decreased by 0.66 BP to 0.80%. More than half of the credit spread decreased.
Risk warning: repeated outbreaks outside China; Monetary policy exceeded expectations
