Group 1 - Global capital is increasingly focusing on Chinese assets, with a recent investment mandate of $50 million from German pension fund KZVK to Franklin Templeton's Hong Kong subsidiary for Chinese stocks [1] - The investment strategy of overseas institutional investors has seen limited new allocations, primarily focusing on contract renewals, although some institutions from the UK, Spain, and Italy are preparing for investment tenders [2] - Barclays Bank has emerged as a significant investor in innovative drug ETFs, holding 20 million yuan in one ETF and 85 million yuan in another, indicating a strong interest in the Chinese market [2] Group 2 - Goldman Sachs forecasts that by the end of 2025, Chinese listed companies will distribute a total of 3 trillion yuan in dividends, reaching a historical high, which is expected to attract more investors [3] - Morgan Stanley reports a net inflow of foreign long positions in Chinese stocks in June, ending a streak of outflows in April and May, signaling renewed interest in the market [3] - The chief investment strategist at Standard Chartered highlights the growing enthusiasm for Chinese tech assets, suggesting that this trend may extend to broader sectors due to stable policies and economic recovery [3]

Core Insights - Chinese stocks recorded a net inflow of $1.2 billion from foreign long funds in June, ending a consecutive outflow in April and May [1] - Passive funds saw a net inflow of $2.7 billion, nearly double that of May, while active funds continued to experience a net outflow of $1.6 billion [1] - As of June 30, cumulative net inflows from foreign passive funds reached a historical high since October 2022, while cumulative inflows from foreign active funds fell to a historical low since the end of 2022 [1] Company Allocation - The most increased allocations in the second quarter were for Alibaba and Trip.com [1] - The most decreased allocations were for Meituan and Haier Smart Home [1]

空头氛围往往酝酿着赚钱机会！ 一些需要重视的现象。今天虽然A股和港股全线调整，但午后市场突然多了许多多头的声音。首先，摩根士丹 利最近将中资股评级由"减持"升至"与大市同步"。特朗普政策倾向推低美元，历史上当美元下跌，反映外资情 绪的港股会更受惠。 与此同时，知名市场人士洪灏也表示，他观察到香港监管局的基础货币余额大幅的飙升。最近这几天，香港隔 夜的利率Hibor已经被砸到0左右了，从4砸到0了，发生在短短几个月时间，非常的惊人。这个显示的，就是 资金不断地涌入香港市场。 全球投资咨询公司剑桥联合公司 (Cambridge Associates) 表示，全球投资者正在重新评估其以美国为主的投资 组合，并关注中国香港和中国内地被低估的股票，以在地缘政治紧张局势中"提供防御"。全球资金流入中国股 市的"涓涓细流"或将汇成"洪流"。 大摩意外唱多 摩根士丹利的策略向来具有风向标意义。今日午后，格隆汇的消息指出，摩根士丹利最近将中资股评级由"减 持"升至"与大市同步"。 该公司董事总经理王滢表示，关税战仍有多项不明朗因素，所以暂未拟再上调评级，看好中资科技股，相信板 块内的企业创新能力强，而且会是国际领先的公司，前景 ...