Since this year, the net value of cross-border ETFs tracking Hang Seng technology index and China Internet Index has generally retreated greatly. However, with the continuous influx of bottom reading funds, the share of such ETFs has increased instead of falling. According to statistics, the total amount of funds pouring into cross-border ETFs has reached 54 billion yuan since the beginning of the year.
At the same time, public fund managers also arranged Hong Kong stocks on the left. By the end of the first quarter, the equity positions of many Hong Kong stock funds or Shanghai, Hong Kong and Shenzhen funds had increased significantly compared with the end of last year. Many institutions believe that the recent favorable policies have significantly promoted the significantly underestimated Internet sector, which has ushered in a better allocation opportunity.
public offering and active layout of foreign capital
According to China stock market news choice, as of May 17, the shares of Hang Seng Internet ETF, Hang Seng Technology Index ETF, zhonggai Internet ETF and Hang Seng technology ETF have increased by 18.686 billion, 9.789 billion, 8.594 billion and 5.105 billion respectively this year. According to the average transaction price during this period, the above ETFs attracted 8.963 billion yuan, 5.59 billion yuan, 9.442 billion yuan and 2.8 billion yuan respectively. Taken together, the total amount of funds pouring into cross-border ETFs has reached 54 billion yuan this year.
Based on the optimistic attitude towards the future trend of Hong Kong stocks, many public fund managers chose to carry out the left layout of Hong Kong stocks in the first quarter. According to China stock market news choice, by the end of the first quarter, the proportion of equity assets of nine Hong Kong stock funds or Shanghai, Hong Kong and Shenzhen funds had increased by more than 10 percentage points compared with the end of last year.
In overseas markets, global asset management giants are also copying the bottom of China’s Internet leader. Morningstar data show that JPMorgan Funds – China fund a (ACC) – USD, JPMorgan’s flagship China fund, made a big increase in JD’s position in March this year. After the increase, JD became the fourth largest heavy position stock of the fund, with a market value of $212 million; In addition, the fund also slightly increased its positions in Tencent holdings and meituan. In March this year, Fidelity International’s China consumer power fund significantly increased its holdings of meituan, jd.com and other Internet stocks; Fidelity China Focus Fund increased its holdings of Alibaba and Tencent holdings.
Internet sector welcomes favorable policies
From the perspective of market performance, since the share price hit the bottom in mid March, the share prices of many leading Chinese Internet companies, including Alibaba, Tencent holdings, meituan, Netease, BiliBili and Kwai, have rebounded significantly.
From the perspective of policy, the CPPCC National Committee held a special consultation meeting on “promoting the sustainable and healthy development of digital economy” in Beijing on the 17th. At the meeting, it was clear that it supported “digital enterprises to be listed in capital markets outside China”. The new signal of the development of digital economy has been transmitted to the capital market. On the evening of May 17, China concept stocks in the US stock market collectively rose, with Alibaba, pinduoduo, Baidu and JD rising 6.37%, 6.13%, 4.79% and 4.15% respectively.
Northeast Securities Co.Ltd(000686) according to the analysis of the latest research report, from the perspective of its own market driving factors, it is now the time to configure the Internet sector.
“If the epidemic can be controlled and the economy can recover gradually, a considerable number of high-quality growth stocks, whether Hong Kong stocks or a shares, are in an attractive position. Rationally, we can actively layout such stocks.” Xu Cheng, investment director of Guohai Franklin fund QDII, said.
