资金透视：资金供需改善迹象初现

Group 1: Market Trends - Various funding types have shown signs of recovery, forming the basis for the rebound in A-shares, with retail and financing funds turning to net inflows[1] - Financing activity increased from 8.5% to 9.8% over the week, indicating a rise in market engagement[1] - The net inflow of ETF funds exceeded 30 billion, with A500 ETF contributing over 20 billion, suggesting ongoing support for ETF inflows[1] Group 2: Fund Performance - Retail investors saw a net inflow of 30.5 billion last week, reversing two weeks of outflows, with a cumulative net inflow of 258 billion since September 24[3] - Financing funds recorded a net inflow of 11.8 billion, with a slight decrease in trading activity to 9.06%[3] - Public funds launched 11.3 billion in new equity funds last week, although the issuance intensity has decreased[4] Group 3: Foreign Investment Activity - Northbound trading activity slightly declined, with average daily trading volume dropping to 191.2 billion, while foreign capital outflows narrowed to 6.6 billion[2] - The proportion of foreign investment in A-shares remains low at 4.1%, indicating potential for growth compared to 6.5% in March 2023[2] Group 4: Private Fund Performance - Private equity funds have achieved an overall positive return of 2.55% year-to-date, with bond strategies leading at 6.05%[30] - The average position of private equity long positions has increased to 56% recently, reflecting a recovery in fund allocations[32]