外资唱多A股，北向资金持仓市值增超3800亿

Core Insights - Northbound capital has shown a positive trend in A-share holdings, with a total market value of 2.58 trillion yuan as of the end of Q3, marking an increase of over 380 billion yuan year-to-date and continuous growth for three consecutive quarters [1][3][5] Group 1: Northbound Capital Trends - As of Q3, Northbound capital's A-share holdings increased by 12.9% from Q2, 15.59% from Q1, and 17.35% from the end of last year [3] - The top five industries by Northbound capital holdings are: Electric Equipment (443.80 billion yuan), Electronics (391.53 billion yuan), Pharmaceutical Biology (183.94 billion yuan), Banking (173.69 billion yuan), and Food & Beverage (162.31 billion yuan) [3] - In Q3, Northbound capital increased holdings in nine industries, with the Electronics sector seeing the largest increase of 1.82 billion shares, followed by Basic Chemicals (370 million shares) and Automotive (287 million shares) [3][4] Group 2: Foreign Investment Sentiment - Morgan Stanley reported a net inflow of 4.6 billion USD into the Chinese stock market in September, the highest monthly figure since November 2024, indicating a recovery in global investor confidence [7] - Major global asset management firms have expressed optimism about the A-share market, with Goldman Sachs maintaining an overweight rating and predicting potential upside of 8% for A-shares over the next 12 months [8] - UBS's CEO highlighted that China's macro policies and rapid development in high-tech sectors are boosting market confidence, while several investment professionals believe that foreign capital is attracted by China's economic recovery, low valuations, and policy support [9]