金融市场流动性与监管动态周报：行业ETF净流入，宽基ETF持续净流出-20250708

Group 1 - The report indicates that the secondary market experienced a slight net outflow of funds, with industry ETFs showing net inflows while broad-based ETFs continued to see net outflows [2][5][10] - In July, the market risk appetite is expected to improve, with incremental funds likely to continue flowing in, primarily favoring large-cap stocks, while growth and value stocks may see a more balanced performance [2][5] - The liquidity index for A-shares shows a decrease in public fund issuance to 4.251 billion, a drop in ETF net subscriptions to -20.657 billion, and an increase in financing net purchases to 12.607 billion [4][29] Group 2 - The report highlights that overall, ETFs have been experiencing continuous net outflows this year, with industry ETFs showing a slow net inflow while broad-based ETFs have seen significant outflows [5][10][13] - The report notes that the net inflow for industry ETFs is attributed to investors' preference for participating in structural market trends through these funds [13][15] - The report also mentions that the overseas-listed Chinese asset ETFs have shown little change, indicating a slight net outflow [15] Group 3 - The report outlines that the financing balance has increased, with net purchases of financing reaching 12.61 billion, while the net outflow from ETFs was 20.66 billion [5][29] - The report indicates that the market sentiment has weakened, with a decrease in the trading activity of financing funds and a decline in equity risk premiums [39][41] - The report identifies that sectors such as defense, non-bank financials, and metals have seen significant net inflows, while sectors like banking, pharmaceuticals, and food and beverage have experienced net outflows [48][49]