21世纪经济报道·2025-04-08 23:23Core Viewpoint - The A-share market shows signs of recovery, driven by significant buying from state-owned entities and a wave of share buybacks and increases from listed companies, indicating a strong commitment to market stabilization [1][2][3][17]. Group 1: Market Recovery and State Support - On April 8, the A-share market rebounded, with the Shanghai Composite Index and the ChiNext Index rising by 1.58% and 1.83% respectively, led by agriculture and consumer sectors [1]. - The "national team" made substantial purchases of ETFs, injecting confidence into the market, with central financial institutions like Central Huijin and China Chengtong announcing continued support for ETF and stock purchases [2][7]. - A total of 56 A-share companies announced share buyback plans since April 7, with nearly 140 companies disclosing share repurchase announcements [3][18]. Group 2: Significant Corporate Actions - Several leading companies plan to increase their holdings by amounts exceeding 1 billion yuan, with some state-owned enterprises acting quickly to implement these increases [4][19]. - China Petroleum & Chemical Corporation (Sinopec) announced plans to buy back shares worth between 2 billion and 3 billion yuan over the next 12 months [19][20]. - State-owned enterprises are actively repurchasing their stocks, with China Electronics Technology Group completing a buyback exceeding 2 billion yuan [21]. Group 3: ETF Inflows and Trading Activity - On April 7, stock ETFs attracted over 660 billion yuan in inflows, with major ETFs like the CSI 300 ETF seeing a net inflow of 401.28 billion yuan, accounting for about 60% of the total [9][10]. - The Huatai-PineBridge CSI 300 ETF recorded a trading volume of 21.67 billion yuan on April 8, making it the largest traded stock ETF of the day [12]. - Other notable ETFs, including the Southern CSI 500 ETF and the E Fund CSI 300 ETF, also saw significant trading volumes, indicating strong investor interest [13]. Group 4: Sector Performance and Investment Focus - Following the national team's intervention, sectors less affected by U.S. tariff policies, such as agriculture and retail, experienced notable rebounds, with indices rising around 10% [14][15]. - The consumer sector is expected to benefit from policies aimed at boosting domestic demand to counteract export declines, with anticipated stimulus measures to support consumption [16]. - Analysts suggest that stable cash flow sectors and high-dividend stocks may see increased interest due to the enhanced investment space for insurance funds [6][29].