Market Overview - The Shanghai Composite Index fell by 3.90% this week, while the Shenzhen Component Index decreased by 5.13%, and the ChiNext Index dropped by 6.15%. The CSI 300 Index declined by 3.77% [1] - Among the tradable A-shares, only 520 stocks rose, accounting for 9.54%, while 4,922 stocks fell [1] Fund Flow Analysis - The total net outflow of main funds this week was 338.316 billion yuan, with a consistent net outflow across all trading days. The ChiNext saw a net outflow of 83.167 billion yuan, while the STAR Market had a net outflow of 31.381 billion yuan, and the CSI 300 experienced a net outflow of 96.799 billion yuan [1][2] Industry Performance - In terms of industry performance, the sectors with the largest declines were Power Equipment and Comprehensive, with declines of 10.54% and 9.18%, respectively. Only the banking sector saw a net inflow of main funds, totaling 5.96237 million yuan, despite a slight decline of 0.89% [3] - A total of 30 industries experienced net outflows, with the Power Equipment sector leading with a net outflow of 65.046 billion yuan and a decline of 10.54%. The Electronics sector followed with a net outflow of 50.373 billion yuan and a decline of 5.89% [3] Detailed Industry Fund Flow - The following industries experienced significant fund outflows: - Power Equipment: -10.54%, -650.46 billion yuan - Electronics: -5.89%, -503.73 billion yuan - Pharmaceutical Biology: -6.88%, -321.53 billion yuan - Non-ferrous Metals: -6.75%, -253.91 billion yuan - Basic Chemicals: -7.47%, -172.82 billion yuan [4][5] Individual Stock Performance - A total of 936 stocks saw net inflows, with 148 stocks having inflows exceeding 100 million yuan. The stock with the highest net inflow was Kaimete Gas, which rose by 13.93% with a net inflow of 1.462 billion yuan. Other notable stocks included Yidian Tianxia and Rongji Software, with net inflows of 914 million yuan and 873 million yuan, respectively [5] - Conversely, 871 stocks experienced net outflows exceeding 100 million yuan, with the largest outflows from Yangguang Electric, Xiangnong Chip, and Ningde Times, which saw outflows of 4.224 billion yuan, 3.686 billion yuan, and 3.582 billion yuan, respectively [5]

Market Overview - The Shanghai Composite Index fell by 2.45% on November 21, with the largest declines in the comprehensive and non-ferrous metal sectors, down 5.50% and 5.26% respectively [1] - The net outflow of capital from the two markets reached 128.99 billion yuan, with only one sector, media, seeing a net inflow of 1.48 billion yuan [1] Electric Equipment Industry - The electric equipment sector experienced a decline of 5.17%, with a net capital outflow of 19.535 billion yuan [2] - Out of 364 stocks in the electric equipment sector, only 10 stocks rose, with 2 hitting the daily limit, while 354 stocks fell, including 11 hitting the daily limit [2] - The top three stocks with the highest net capital inflow in the electric equipment sector were Ningde Times (8.754 million yuan), Tianji Shares (8.565 million yuan), and Fangzheng Electric (5.651 million yuan) [2] - The stocks with the largest net capital outflow included Sunshine Power (1.186 billion yuan), Longi Green Energy (872 million yuan), and TBEA (843 million yuan) [2][3] Capital Flow Analysis - The electric equipment sector had 41 stocks with net capital inflow, while 49 stocks saw outflows exceeding 100 million yuan [2] - The stocks with the largest capital outflows were Sunshine Power, Longi Green Energy, and TBEA, with outflows of 1.186 billion yuan, 872 million yuan, and 843 million yuan respectively [3]

Core Insights - The media industry experienced the highest net inflow of capital today, amounting to 1.48 billion yuan, despite a slight decline of 0.32% in its stock price [1] - The electronics industry faced the largest net outflow of capital, totaling 26.475 billion yuan, with a significant drop of 4.58% in its stock price [2] Industry Summary - **Media**: - Trading volume: 6.752 billion shares - Change in trading volume: +56.55% - Turnover rate: 4.59% - Net capital inflow: 1.48 billion yuan - **Electronics**: - Trading volume: 8.889 billion shares - Change in trading volume: +27.23% - Turnover rate: 3.18% - Net capital outflow: -26.475 billion yuan - **Beauty and Personal Care**: - Net capital outflow: -0.328 billion yuan - Stock price change: -2.47% - **Comprehensive**: - Net capital outflow: -0.546 billion yuan - Stock price change: -5.50% - **Light Industry Manufacturing**: - Net capital outflow: -0.562 billion yuan - Stock price change: -2.94% - **Construction Materials**: - Net capital outflow: -0.724 billion yuan - Stock price change: -3.19% - **Coal**: - Net capital outflow: -0.751 billion yuan - Stock price change: -2.25% - **Social Services**: - Net capital outflow: -0.758 billion yuan - Stock price change: -2.97% - **Petrochemicals**: - Net capital outflow: -0.953 billion yuan - Stock price change: -2.63% - **Textiles and Apparel**: - Net capital outflow: -0.972 billion yuan - Stock price change: -3.79% - **Environmental Protection**: - Net capital outflow: -1.045 billion yuan - Stock price change: -4.00% - **Food and Beverage**: - Net capital outflow: -1.130 billion yuan - Stock price change: -0.88% - **Steel**: - Net capital outflow: -1.140 billion yuan - Stock price change: -4.40% - **Home Appliances**: - Net capital outflow: -1.153 billion yuan - Stock price change: -0.40% - **Banking**: - Net capital outflow: -1.508 billion yuan - Stock price change: -1.00% - **Construction Decoration**: - Net capital outflow: -1.693 billion yuan - Stock price change: -3.03% - **Agriculture, Forestry, Animal Husbandry, and Fishery**: - Net capital outflow: -1.766 billion yuan - Stock price change: -1.62% - **Retail**: - Net capital outflow: -1.783 billion yuan - Stock price change: -3.17% - **Real Estate**: - Net capital outflow: -1.900 billion yuan - Stock price change: -3.26% - **Transportation**: - Net capital outflow: -2.119 billion yuan - Stock price change: -2.05% - **Public Utilities**: - Net capital outflow: -2.293 billion yuan - Stock price change: -2.19% - **Defense Industry**: - Net capital outflow: -3.051 billion yuan - Stock price change: -1.84% - **Automotive**: - Net capital outflow: -3.677 billion yuan - Stock price change: -1.89% - **Basic Chemicals**: - Net capital outflow: -4.859 billion yuan - Stock price change: -4.70% - **Machinery Equipment**: - Net capital outflow: -5.387 billion yuan - Stock price change: -2.70% - **Telecommunications**: - Net capital outflow: -6.781 billion yuan - Stock price change: -4.51% - **Pharmaceuticals**: - Net capital outflow: -7.399 billion yuan - Stock price change: -2.68% - **Non-Bank Financials**: - Net capital outflow: -7.951 billion yuan - Stock price change: -3.11% - **Nonferrous Metals**: - Net capital outflow: -10.783 billion yuan - Stock price change: -5.26% - **Computers**: - Net capital outflow: -11.448 billion yuan - Stock price change: -3.01% - **Electrical Equipment**: - Net capital outflow: -19.535 billion yuan - Stock price change: -5.17% [1][2]

Summary of Key Points Core Viewpoint - The trading volume of the Shanghai and Shenzhen Stock Connect reached a total of 233.4 billion, with significant activity in specific stocks and sectors, indicating a dynamic market environment [1]. Group 1: Trading Volume and Key Stocks - The total trading amount for the Shanghai Stock Connect was 112.52 billion, while the Shenzhen Stock Connect was 120.88 billion [2]. - The top traded stock in the Shanghai Stock Connect was Kweichow Moutai (600519) with a transaction amount of 2.202 billion, followed by Industrial Fulian (601138) and Zhaoyi Innovation (603986) [3]. - In the Shenzhen Stock Connect, the leading stock was Zhongji Xuchuang (300308) with a transaction amount of 3.927 billion, followed by CATL (300750) and Luxshare Precision (002475) [3]. Group 2: Sector Performance - The cultural media sector saw the highest net inflow of main funds, amounting to 1.164 billion, while the electronic sector experienced the largest net outflow of 27.808 billion [5][6]. - The AI application sector and the shipbuilding sector showed significant gains, while battery, silicon energy, and lithium mining sectors faced declines [4]. Group 3: ETF Trading - The top ETF by trading volume was the Hang Seng Technology ETF (513130) with a transaction amount of 9.7961 billion, followed by the Hong Kong Securities ETF (513090) with 8.4954 billion [9][10]. - The soybean meal ETF (159985) saw a remarkable increase in trading volume, growing by 428% compared to the previous trading day [11]. Group 4: Futures Positions - In the futures market, both long and short positions increased across major contracts, with notable long position increases in the IH and IC contracts [12]. Group 5: Institutional and Retail Activity - Institutional buying was active in lithium battery concept stock Tianhua Xinneng, which received 288 million from four institutions [13]. - The AI application stock Yidian Tianxia saw a 20% limit up, attracting 249 million from two leading retail trading desks [15].

Volatility - A total of 8 stocks in the A-share market experienced a volatility exceeding 20% today, with N Dapeng, *ST Changyao, and Jianglong Shipbuilding leading the list [1] Turnover Rate - There were 9 stocks in the A-share market with a turnover rate exceeding 40% today, with N Dapeng, Jianglong Shipbuilding, and C Nanjing Digital at the forefront [1] Main Capital Flow - Main capital today saw a net inflow into the telecommunications services sector, while experiencing net outflows from information technology, industrials, materials, consumer discretionary, and healthcare sectors [1] - The stocks with the highest net inflow included Kaimete Gas (7.75 billion), Yidian Tianxia (6.54 billion), Vision China (5.53 billion), Te Fa Information (4.27 billion), and Saiwei Electronics (3.93 billion) [1] - The stocks with the highest net outflow included Shenghong Technology (18.16 billion), New Yi Sheng (17.91 billion), Pingtan Development (14.31 billion), Zhongji Xuchuang (14.02 billion), and Sunshine Power (12.07 billion) [1]

证券 时报·数据宝统计，今日有4个行业主力资金净流入，27个行业主力资金净流出。资金净流入金额最 大的行业为 银行 ，涨跌幅0.86%，整体换手率0.46%，成交量较前一个交易日变动61.50%，主力资金净 流量21.88亿元；今日资金净流出最大的行业为电力设备，涨跌幅-1.96%，整体换手率3.75%，成交量较 前一个交易日变动-1.72%，主力资金净流量-90.59亿元。（数据宝） | 家用电 | 12.17 | -13.18 | 1.59 | 0.17 | -11.10 | | --- | --- | --- | --- | --- | --- | | 器 | | | | | | | 农林牧 | 38.15 | 24.23 | 4.06 | -0.77 | -14.48 | | 渔 | | | | | | | 传媒 | 43.13 | -21.96 | 2.93 | -0.94 | -22.43 | | 有色金 属 | 54.36 | -8.30 | 2.42 | -0.41 | -22.44 | | 机械设 备 | 59.77 | -15.88 | 2.18 | -0.80 | -25.21 | | ...

盘后数据出炉。 今日（11月19日），A股市场整体保持震荡走势。截至收盘，上证指数报3946.74点，上涨0.18%；深证成指报13080.09点，微幅下跌；创业板指报3076.85 点，上涨0.25%。两市合计成交17259.08亿元，较上一交易日减少2001.59亿元。 1.两市主力资金净流出近350亿元 今日沪深两市主力资金开盘净流出123.87亿元，尾盘净流入5.59亿元，两市全天主力资金净流出348.42亿元。 | | | 沪深两市最近五个交易日主力资金流向情况(亿元) | | | | --- | --- | --- | --- | --- | | 日期 | | 净流入金额 开盘净流入 | 尾盘净流入 | 超大单净买入 | | 2025- 11- 19 | - 348. 42 | - 123. 87 | 5. 59 | - 178. 90 | | 2025- 11- 18 | -624. 24 | - 232. 22 | - 66. 11 | - 354. 10 | | 2025- 11- 17 | - 168. 44 | - 58. 80 | 2. 96 | - 47. 20 | | 2025- ...

盘后数据出炉。 今日（11月19日），A股市场整体保持震荡走势。截至收盘，上证指数报3946.74点，上涨0.18%；深证成指报13080.09点，微幅下跌；创业板指报3076.85点，上涨 0.25%。两市合计成交17259.08亿元，较上一交易日减少2001.59亿元。 1.两市主力资金净流出近350亿元 今日沪深两市主力资金开盘净流出123.87亿元，尾盘净流入5.59亿元，两市全天主力资金净流出348.42亿元。 | | | 沪深两市最近五个交易日主力资金流向情况(亿元) | | | | --- | --- | --- | --- | --- | | 日期 | | 净流入金额 开盘净流入 | 尾盘净流入 | 超大单净买入 | | 2025- 11- 19 | - 348. 42 | - 123. 87 | 5. 59 | - 178. 90 | | 2025- 11- 18 | - 624. 24 | - 232. 22 | - 66. 11 | - 354. 10 | | 2025- 11- 17 | - 168. 44 | - 58. 80 | 2. 96 | - 47. 20 | | 2025- ...

Market Overview - The A-share market showed mixed performance today, with the Shanghai Composite Index rising by 0.18% to close at 3946.74 points, while the Shenzhen Component Index slightly declined, closing at 13080.09 points, and the ChiNext Index increased by 0.25% to 3076.85 points [2][4]. - The total trading volume in the Shanghai and Shenzhen markets was 1.7259 trillion yuan, a decrease of 200.2 billion yuan compared to the previous day, marking the lowest level this month and the third lowest in the past three months [5]. Individual Stock Performance - Despite the index performance appearing stable, the majority of individual stocks experienced significant declines, with approximately 3984 stocks down and only 1176 stocks up at market close. The median decline across all A-shares was about 1.50% [4][6]. - The main contributors to the rise in the Shanghai Composite Index were major state-owned enterprises in the oil and banking sectors, with PetroChina, CNOOC, and Sinopec contributing 8.04 points to the index's rise [6]. Sector Analysis - The oil sector showed strength, influenced by rumors of increased oil reserves, while the lithium mining sector also performed well due to rising lithium carbonate futures prices. However, the lithium mining companies are still in the process of turning profitable, and the rising lithium prices have pressured the battery sector, which fell by approximately 1.4% today [6]. - Notably, CATL, a leading company in the battery sector, rose by about 1.50%, closing at 391.1 yuan per share, indicating profitability for funds that acquired shares during a recent price reduction [6]. Market Sentiment - The market sentiment appears to be cautious, with a significant outflow of capital, totaling 513 billion yuan today, following a previous outflow of nearly 1000 billion yuan [6]. - The number of stocks hitting the daily limit down was 24, primarily from speculative stocks that had previously been driven by "mystical" trading strategies. The Hainan sector, once a hot topic, saw the largest decline today, around 4% [7]. Conclusion - The overall market sentiment is described as "disheartened," with concerns about liquidity as institutions face year-end accounting pressures, leading to potential further declines in trading volume [7].

| 家用电 | 14.01 | -15.35 | 1.83 | -0.45 | -10.45 | | --- | --- | --- | --- | --- | --- | | 器 | | | | | | | 商贸零 | 35.67 | -5.38 | 2.96 | -1.70 | -13.48 | | 售 | | | | | | | 建筑装 | 38.75 | -20.66 | 1.39 | -1.25 | -13.51 | | 饰 | | | | | | | 房地产 | 69.58 | -18.00 | 3.16 | -2.09 | -17.17 | | 汽车 | 44.61 | -14.90 | 2.00 | -0.69 | -24.81 | | 非银金 | 32.35 | -3.24 | 0.78 | 0.31 | -25.37 | | 融 | | | | | | | 机械设 | 71.06 | -12.28 | 2.60 | -1.05 | -38.42 | | 备 | | | | | | | 传媒 | 55.27 | -16.69 | 3.75 | -1.72 | -40.54 | | 电力设 | ...