外资扫货A股！两大特点：“新面孔”频现，“老玩家”回归！

Core Insights - Recent data indicates a significant increase in international capital confidence towards the Chinese market, with new foreign investors appearing in A-share companies' top shareholder lists [1][3][9] - The return of foreign capital is seen as a logical outcome of valuation recovery, industrial upgrades, and global asset rebalancing, suggesting a long-term growth potential for A-shares and Hong Kong stocks [1][9] Group 1: New Foreign Investors - Traut Consulting has entered the top ten shareholders of Yara International with a holding of 8.5285 million shares, representing 1.05% of the circulating shares, marking its first appearance in A-share companies [3] - Brunei Investment Agency has also emerged as a new foreign investor, holding 10.3183 million shares in China International Capital Corporation, valued at approximately 38.1 million yuan, also its first appearance in A-share companies [4] Group 2: Returning Foreign Players - Korean Bank has reappeared in the top ten shareholders of Hezhong Intelligent, holding 1.8213 million shares valued at 3.57885 million yuan, marking its return after more than a year [6] - Jane Street, a quantitative trading firm, has returned to the top ten shareholders of several A-share companies after a two-year absence, indicating renewed interest in the Chinese market [7][9] Group 3: Factors Driving Foreign Capital Return - The increase in foreign investment is attributed to three key factors: clarity in policy bottom, attractive valuations, and a strategic global capital rebalancing from dollar assets to non-U.S. assets [10] - HSBC reported a significant increase in foreign investors' exposure to the Chinese A-share market, with net growth for three consecutive months, indicating a shift in investor sentiment [9][10] Group 4: Market Outlook - Goldman Sachs predicts a sustainable upward trend in the Chinese stock market, expecting major indices to rise by approximately 30% by the end of 2027, driven by factors such as AI's impact on profitability and corporate competitiveness [11] - JPMorgan also expresses optimism for the CSI 300 index, noting that leading companies in healthcare, finance, and entertainment sectors are currently valued reasonably compared to historical medians, suggesting potential for future valuation increases [11]