A股ETF，又现净流出

Core Viewpoint - The article highlights a significant outflow of funds from stock ETFs in China, with a total net outflow exceeding 6 billion yuan, indicating a cautious market sentiment among investors [2][5]. Fund Flow Analysis - On July 14, the total net outflow from all stock ETFs (including cross-border ETFs) was 6.44 billion yuan, with A-share stock ETFs experiencing a net outflow of 34.33 billion yuan [2][5]. - A-share broad-based ETFs saw a notable outflow, while technology-focused ETFs and Hong Kong stock ETFs continued to attract capital [3][10]. - Industry-themed ETFs and Hong Kong market ETFs led the inflows, with net inflows of 37.62 billion yuan and 27.86 billion yuan, respectively, while broad-based ETFs faced the largest outflows, totaling 72.92 billion yuan [7]. ETF Performance - As of July 14, the total scale of 1,138 stock ETFs reached 3.47 trillion yuan, with broad-based ETFs experiencing a scale decrease of 99.68 billion yuan [5][7]. - Specific ETFs such as the 30-year government bond ETF and the technology-focused ETFs saw significant inflows, with the former attracting 11.2 billion yuan and the latter, including the Jiashi Technology Chip ETF and Huaxia Science and Technology 50 ETF, receiving 7.61 billion yuan and 5.47 billion yuan, respectively [11][12]. Market Sentiment - The market is characterized by a strong oscillation rhythm, with a high safety margin due to low valuations and ample liquidity supporting valuations. There is a notable risk appetite among investors, with many waiting for lower entry points [8]. - The technology sector, particularly the science and technology board, is viewed as a key area for capturing growth opportunities in China's technological upgrade [12].