上半年外资超百亿净流入 沪指冲破3600点创年内新高

Group 1 - The core viewpoint of the articles indicates a significant increase in foreign investment in China's stock market, with a net increase of $10.1 billion in the first half of 2025, reversing the trend of net reductions over the past two years, particularly with a notable increase of $18.8 billion in May and June [1][2] - The stable economic fundamentals in China, with a GDP of 660.536 billion yuan and a year-on-year growth of 5.3% in the first half of 2025, are creating a favorable macro environment for foreign investments [1][2] - The stock market indices in China reached new highs, with the Shanghai Composite Index closing at 3605.73 points, reflecting a positive market sentiment and increased trading activity [2] Group 2 - The influx of capital into China is attributed to a global rebalancing of investments, driven by changes in global trade patterns, fiscal policy uncertainties, and currency fluctuations, prompting investors to seek opportunities in emerging markets [2] - A report from China International Capital Corporation (CICC) highlights a shift in the funding landscape for A-shares, suggesting that the restructuring of the international monetary order is benefiting RMB assets [2] - The current equity risk premium for A-shares and Hong Kong stocks is at historically low levels, indicating that if U.S. Treasury yields are no longer the pricing anchor, the valuation pressure on Chinese stocks will significantly ease, making them more attractive [3]