Zhong Guo Ji Jin Bao·2025-06-05 06:31Market Overview - On June 4, A-shares saw all three major indices rise, with the Shanghai Composite Index increasing by 0.42% to close at 3376.20 points, the Shenzhen Component Index rising by 0.87% to 10144.58 points, and the ChiNext Index up by 1.11% to 2024.93 points [1][3] - The total trading volume in the Shanghai and Shenzhen markets reached 1.15 trillion yuan, an increase of 116 billion yuan compared to the previous trading day [1] ETF Fund Flows - Despite the overall market recovery, stock ETFs exhibited a trend of net outflows, with a total of 12.45 billion yuan exiting the market on June 4 [1][2][3] - The total scale of all stock ETFs (including cross-border ETFs) reached 3.32 trillion yuan, with a reduction of 2.194 billion shares and a net outflow of 12.45 billion yuan calculated based on average transaction prices [3] Sector Performance - On June 4, industry-themed ETFs saw a net inflow of 14.48 billion yuan, while broad-based ETFs experienced a net outflow of 18.76 billion yuan [5] - Notably, ETFs tracking the Zhongzheng Xinchuan Index had a significant net inflow of 9.24 billion yuan, while the ChiNext Index saw a net outflow of 7.19 billion yuan [5] Notable Fund Companies - E Fund's ETFs saw an increase of 29.5 billion yuan, bringing the latest scale to 632.96 billion yuan, with net inflows in various ETFs including 1.2 billion yuan in Xinchuan ETF [5] - Huaxia Fund's Xinchuan ETF and the Shanghai 50 ETF had net inflows of 7.8 billion yuan and 3.13 billion yuan, respectively, with their latest scales reaching 16.51 billion yuan and 1639.96 billion yuan [5] Xinchuan ETFs Surge - The strategic restructuring of Haiguang Information and Zhongke Shuguang has drawn attention to Xinchuan ETFs, leading to significant inflows as investors seek to capitalize on arbitrage opportunities from suspended stocks [7][10] - On June 4, several Xinchuan ETFs ranked among the top for net inflows, with Huaxia Xinchuan ETF, Guotai Xinchuan ETF, and Fuguo Xinchuan ETF seeing inflows of 7.8 billion yuan, 3.45 billion yuan, and 2.33 billion yuan, respectively [7] - The latest scale of Huaxia Xinchuan ETF reached 16.51 billion yuan, marking a 91% increase from the previous trading day [7] Future Outlook - The Xinchuan index, which has a high concentration of computer industry stocks, is expected to be driven by themes of self-control, domestic substitution, and the ongoing wave of mergers and acquisitions in the tech sector [10]