亚洲及其他新兴市场资金外流，中国市场成资金“避风港”！

Group 1 - Goldman Sachs' recent report indicates that during the week of August 18 to 22, emerging markets in Asia (excluding mainland China) experienced significant institutional investor sell-offs, with a net sell amount of $4.8 billion [1] - In contrast, the Chinese market saw a reversal with a net inflow of funds, demonstrating strong attractiveness [1] - Data from EPFR shows that as of the end of July, emerging market funds had the highest overweight in Indonesia and Thailand, while the largest increase in allocation was observed in mainland China and India [3] Group 2 - As of July 31, China's share in global actively managed public fund portfolios was 6.6%, which is below the 15% percentile of the past decade and underweight by 320 basis points compared to previous benchmarks [3] - Hedge funds accelerated their net buying of Chinese stocks as of August 20, with the buying speed reaching the fastest pace in the past seven weeks, driven by both long positions and short covering [3] - From August 14 to August 20, the inflow of funds into Chinese stock funds turned positive, with an inflow of $1.2 billion, reversing the outflows of $1.1 billion, $1.2 billion, and $0.7 billion in the preceding weeks [3] Group 3 - Compared to active funds, passive funds acted more swiftly, with five out of the top ten net inflow products among over 130 Asia-Pacific ETFs listed in the US being Chinese ETFs [4] - The iShares MSCI China ETF (MCHI) saw a net inflow of $226 million during the week ending August 21, while the KWEB ETF, tracking the CSI Overseas China Internet Index, had a net inflow of $183 million [4]