Since mid-November, under the combined influence of multiple factors, the confidence of various investors in the A-share market has been significantly restored. Among them, the northbound funds known as "smart funds" have changed the overall net selling trend some time ago. It showed a "backhand" long trend and began to buy A shares overall.
"Smart money" goes long? Recent net purchases of A-shares have been frequent
The recent movements of northbound funds, regarded as "smart funds" by the market, are quite eye-catching.
Since November 11, northbound funds have changed the trend of net selling of A shares in the previous period and began to frequently net buy A shares. The overall trend of increasing positions is obvious.
Data show that since November 11, except for a net sale of about 2 billion yuan on November 21, all other trading days have shown net buying, with the cumulative net buying amount during the period reaching as high as 44.9 billion yuan. , on the two trading days of November 11 and November 14, the net purchase amount of northbound funds exceeded 10 billion yuan.
It is worth noting that in the eight trading days between early November and November 10th, northbound funds showed net selling most of the time. The cumulative net selling in the above eight trading days was 52.66 billion.
Further tracing back to October this year, we can find that the cumulative net sales of northbound funds in that month reached 57.3 billion yuan, setting a record for the second largest single-month net sales in history.
In September this year, northbound funds also sold a total of 11.2 billion yuan in net sales.
The above data means to some extent that the recent increase or decrease in holdings of northbound funds has turned to a certain extent, starting from net selling most of the time to overall net buying.
However, due to the net selling of northbound funds on most trading days during the year, the current overall recovery trend of net buying is showing. The cumulative net buying of northbound funds during the year is only 34.9 billion yuan, which is the same as the previous five consecutive years. There is still a long way to go before the annual net purchases of northbound funds exceed 100 billion yuan.
Northbound funds have increased their positions in leading stocks in multiple industries
So, what are the specific trends during the period when northbound funds have been "backhand" and long since November 11?
Statistical data shows that from November 11 to 18, among the more than 1,500 northbound Mainland Stock Connect targets, the Mainland Stock Connect's shareholdings in more than 900 targets increased, accounting for more than 60%.
In terms of the number of increased shares, during the above statistical period, Northbound funds increased their holdings of 86 stocks by more than 10 million shares, of which Zijin Mining increased its holdings by approximately 278 million shares, ranking first. ; Northbound funds also increased their holdings in China Construction by more than 100 million shares, ranking second during the period; in addition, northbound funds increased their holdings of Baosteel, Focus Media, China Molybdenum, Ping An Bank, Midea Group, and Postal Savings Bank , China Merchants Bank, Agricultural Bank of China, Industrial and Commercial Bank of China, etc. also have more than 50 million shares.
From the perspective of the amount of increased holdings, if estimated based on the number of increased shares and the average price of increased holdings, during the above statistical period, the amount of northbound funds' increased holdings of 140 stocks exceeded 100 million yuan, of which more than 10 The amount of stock holdings increased by more than 1 billion yuan, including Kweichow Moutai, Midea Group, Zijin Mining, Ping An of China, China Merchants Bank, Wuliangye, Oriental Yuhong, CATL, Mindray Medical, Yili, China Duty Free, etc.
Take Kweichow Moutai as an example. As of the close of trading on November 10, the number of Kweichow Moutai shares held by northbound funds was approximately 79.46 million. However, by the close of trading on November 18, the number of Kweichow Moutai shares held by northbound funds had been It increased to 82.25 million shares, with a cumulative increase of nearly 2.8 million shares during the period. Based on the average transaction price of Kweichow Moutai during the period, the total amount of Kweichow Moutai increased by northbound funds during this period may exceed 4 billion yuan.
Another example is that as of the close of trading on November 10, northbound mainland funds held 1.279 billion shares of Midea Group. However, by the close of trading on November 18, the number of shares held had increased to 1.348 billion shares, and the cumulative increase during the period was It holds more than 68 million shares. If the average transaction price of Midea Group during this period is estimated, the cumulative amount of Northbound Stock Connect's holdings of Midea Group may exceed 3 billion yuan.
On November 21, northbound funds were generally slightly net sold, but there were still many mainland stocks that received net purchases from northbound funds on that day. The top ten active stocks of Shanghai Stock Connect and Shenzhen Stock Connect disclosed after the market opened that day showed that northbound funds invested in Zijin Mining, Midea Group, Luzhou Laojiao, Vail Co., Ltd., WuXi AppTec, Ping An of China, China Duty Free, Mindray Medical and other stocks showed net buying.
Taken together, since November 11, northbound funds have focused on increasing their holdings in some industry leading stocks, including liquor leaders Kweichow Moutai and Wuliangye, home appliance industry leaders Midea Group and Gree Electric Appliances, and nonferrous metals industries. Zijin Mining, the leader, China Merchants Bank and Ping An Bank in the banking industry, Dongfang Yuhong, the waterproof faucet, Mindray Medical, the leader in medical equipment, Ping An, the insurance leader, China Duty Free, the leader in duty-free, Yili, the leader in the dairy industry, and the leading Internet brokerage, etc.
Northbound funds reduced their holdings of some stocks, including many new energy track stocks
It is worth noting that during the period when northbound funds generally achieved net buying, they also invested in some stocks. Industry stocks were reduced.
Statistical data shows that from November 11 to 18, northbound funds reduced their holdings in 578 stocks, of which the number of reductions in 26 stocks exceeded 10 million shares, including PICC, Jiangsu Banks, Shouhang High-tech, Baotou Steel Co., Ltd., Yangtze Electric Power, Huadian International, Vanadium and Titanium Co., Ltd., and Changan Automobile reduced their holdings by more than 20 million shares.
Judging from the estimated reduction amounts during the above period, nearly 80 companies have reduced their holdings by more than 100 million yuan, including Longi Green Energy, Yiwei Lithium Energy, Tianci Materials, Salt Lake Holdings, Tianqi Lithium, etc. Multiple new energy track stocks.
The top ten active stocks of Shanghai Stock Connect and Shenzhen Stock Connect on November 21 showed that northbound funds continued to sell small amounts of new energy sources such as Yiwei Lithium Energy, Tianqi Lithium, and Longi Green Energy on that day. Track Stocks.