罕见！主动外资杀回来了

Market Overview - A-shares showed resilience by recovering above 3600 points after a pessimistic atmosphere over the weekend, despite a significant sell-off of 18 billion HKD by southbound funds [1] - The Hang Seng Index rose by 0.68% and the Hang Seng Tech Index increased by 0.73% following a strong buying spree of 23.426 billion HKD by southbound funds [1] Fund Flows - There has been a notable shift in fund attitudes, with insurance funds contributing 363.9 billion CNY to the market as of Q1 this year, marking a significant inflow [4] - Active foreign capital saw its first inflow into Hong Kong stocks and ADRs since October last year, amounting to approximately 429 million USD, while A-shares continued to experience outflows [5] - Margin trading balances reached 1.99 trillion CNY, nearing the 2 trillion CNY mark, with margin trading accounting for 10.07% of total A-share trading volume, a record high [6] Retail Investor Activity - Retail investors have been actively entering the market, with 1.96 million new accounts opened in July, a 71% year-on-year increase [8] - The total number of new A-share accounts reached 14.56 million in the first seven months of the year, reflecting a 36.88% year-on-year growth [9] Fund Performance - Mixed funds showed a dual increase in scale and share in June, with a net increase in scale exceeding 120 billion CNY, although the number of shares only increased by 9.7 billion [9] - The new issuance of mixed funds in June indicated a recovery, with 49 new products launched, raising a total of 25.9 billion CNY [9] Financial Products and Taxation - The issuance of the second batch of floating-rate products is scheduled, with notable funds set to launch [10] - Recent confirmation that profits from overseas stock trading will be subject to a 20% tax has led to increased interest in domestic cross-border ETFs, with net purchases of 27 billion CNY in the previous week [18][19]