投资者微观行为洞察手册·3月第3期：市场回调之际：公募发行节奏加快，宽基ETF净流入

Market Pricing Status - The market trading activity has slightly decreased, with the profitability effect diminishing. The average daily trading volume for the entire A-share market has dropped to 22.11 trillion yuan, and the proportion of stocks rising has decreased to 10.6% [8][9] - The trading concentration in primary industries has decreased, while it has increased in secondary industries. The turnover rate for the petroleum and petrochemical industry is above 99% [8][16] A-Share Liquidity Tracking - Financing funds, foreign capital, and ETF funds have all seen slight outflows. The new issuance scale of equity funds has decreased to 24.54 billion yuan [8][27] - Foreign capital has flowed out of the A-share market by 5.32 million USD, with the northbound capital transaction proportion rising to 39.5% [8][44] A-Share Industry Allocation Tracking - Financing funds and ETF funds have both flowed out of the non-ferrous metals sector. The electronic and power equipment sectors have seen significant outflows of foreign capital [8][19] - The banking and non-bank financial sectors have experienced net inflows, while non-ferrous metals and basic chemicals have seen net outflows in ETF funds [8][19] Hong Kong and Global Liquidity Tracking - There has been a significant outflow of southbound funds, with global foreign capital marginally flowing into the US and Japanese markets. The Nasdaq index has decreased by 2.1% [8][22] - The net outflow of southbound funds has risen to 6.329 billion yuan, marking a significant level since 2022 [8][22]