“甘霖”普降！多只QDII基金“开门迎客”

Core Viewpoint - The recent issuance of new QDII quotas by the State Administration of Foreign Exchange has alleviated the previous restrictions on QDII funds, leading to a relaxation of purchase limits and a decrease in premiums for certain ETFs [1][3][4]. Group 1: QDII Fund Developments - Multiple QDII funds have announced the relaxation of purchase limits, with significant adjustments made by E Fund and Hua Bao, allowing for higher daily purchase limits [3][4]. - As of June 30, the total QDII investment quota in China reached 170.87 billion USD, with 191 institutions approved for quotas [3][5]. - Despite the recent quota relief, over 70% of QDII funds remain under purchase restrictions, indicating ongoing demand-supply imbalances in the market [5]. Group 2: Market Performance and Outlook - Hong Kong stocks have significantly outperformed U.S. stocks this year, with estimates of southbound capital inflows potentially exceeding 100 billion HKD for the year [6][7]. - The valuation of Hong Kong stocks remains below historical averages, making them an attractive investment option compared to global markets [7]. - The performance of QDII funds focused on Hong Kong has been strong, with many innovative pharmaceutical-themed products seeing gains over 50%, while U.S. stock-themed funds have lagged behind [7]. Group 3: U.S. Market Insights - The future performance of U.S. stocks hinges on the ability of the U.S. economy to maintain a "soft landing," with potential risks of recession impacting market expectations [8]. - The Federal Reserve's potential interest rate cuts are being closely monitored, with a 69.7% probability of a 25 basis point cut by September [8]. - The ongoing growth in the artificial intelligence sector is expected to be a key driver for U.S. stock performance, particularly for technology companies [8].