疯买！外资这次真动手了？

Market Overview - The A-share market has surpassed the 3600-point mark, with the Shanghai Composite Index closing at 3605.73 points, up 0.65%, and the Shenzhen Component Index rising by 1.21% [1] - The total market turnover reached 1.8739 trillion yuan, a decrease of 24.5 billion yuan from the previous day, with over 4300 stocks experiencing gains [1] - The bond market faced challenges, with the yield on the 10-year government bond rising from 1.632% to 1.73%, marking a seven-day decline [1][2] Foreign Investment Trends - Despite the surge in A-shares, foreign capital showed a net sell-off in Hong Kong stocks, with a net outflow of 1.32 billion HKD, primarily from Tencent, which saw a net sell-off of 1.129 billion HKD [3][4] - From April 24 to July 23, foreign capital recorded a cumulative net sell-off of 52.6 billion HKD [9] - In the first half of the year, foreign capital net increased holdings in domestic stocks and funds by 10.1 billion USD, reversing a two-year trend of net reductions [14] Fund Flows and ETF Activity - Margin financing in the A-share market increased by 2.647 billion yuan, reaching a new high of 1.92 trillion yuan, indicating strong leverage activity [18] - Stock ETFs, which had been experiencing net outflows since mid-April, saw three consecutive days of net inflows, totaling 5.468 billion yuan [20][22] - The most significant inflows were observed in ETFs tracking construction materials, Hong Kong internet, and infrastructure indices, with inflows of 2.813 billion yuan, 2.805 billion yuan, and 1.501 billion yuan, respectively [22][24] Sector Performance - Various sectors have shown strong performance, with construction materials and infrastructure stocks experiencing significant gains [25] - The year-to-date performance of sectors indicates that non-ferrous metals, steel, and pharmaceutical industries have seen increases of 31.13%, 20.52%, and 19.05%, respectively [27][28] - The market is witnessing a trend where funds are actively seeking to eliminate low-priced stocks, with a notable rise in sectors such as coal and steel [25]