Core Insights - Northbound capital has increased its holdings in A-shares for two consecutive quarters, indicating foreign investors' confidence in the Chinese market's future [1][2] Northbound Capital Data - As of the end of Q2, northbound capital's market value reached 2.29 trillion yuan, up 532 billion yuan (2.4%) from Q1 and 855 billion yuan (3.9%) from the end of last year [2] - The number of shares held by northbound capital increased to 1.235 billion shares, a rise of 38 million shares (3.2%) from Q1 and 3 million shares (0.2%) from the end of last year [2] - The top five industries by northbound capital holdings are batteries, semiconductors, liquor, joint-stock banks, and white goods, with a notable focus on technology and banking sectors [2] Top Holdings - The top ten stocks held by northbound capital include CATL, Kweichow Moutai, Midea Group, China Merchants Bank, and others, with CATL holding 128.7 billion yuan, a 3.2% increase from Q1 [3] Economic Outlook - The GDP for Q2 was reported at 34,177.8 billion yuan, reflecting a 5.2% year-on-year growth, which has led several foreign institutions to revise their economic forecasts for China upwards [6][7] - UBS highlighted that the Chinese technology sector is becoming increasingly attractive due to local innovation and the application of AI, supported by improving fundamentals [3][7] Investment Environment - Recent improvements in indices and regulations are creating a favorable environment for foreign capital entry, with the A500 index emphasizing ESG and connectivity [5] - New regulatory measures for northbound investors will take effect from January 12, 2026, enhancing the reporting and oversight of foreign investments [5] Sector Expansion - Chinese electric vehicle manufacturers are expanding into overseas markets, particularly Europe, where competition is less intense, potentially increasing profit margins [8]
连续两个季度增持 北向资金加码A股
Jin Rong Shi Bao·2025-07-17 01:42