责任编辑：石秀珍 SF183 MACD金叉信号形成，这些股涨势不错！ 新浪声明：此消息系转载自新浪合作媒体，新浪网登载此文出于传递更多信息之目的，并不意味着赞同 其观点或证实其描述。文章内容仅供参考，不构成投资建议。投资者据此操作，风险自担。 MACD金叉信号形成，这些股涨势不错！ 新浪声明：此消息系转载自新浪合作媒体，新浪网登载此文出于传递更多信息之目的，并不意味着赞同 其观点或证实其描述。文章内容仅供参考，不构成投资建议。投资者据此操作，风险自担。 责任编辑：石秀珍 SF183 ...

央广网北京12月1日消息（记者卢海宁）据中央广播电视总台经济之声《交易实况》报道，中国证券投 资基金业协会日前发布的数据显示，我国公募基金总规模保持强劲增长势头，截至今年10月底，我国公 募基金管理规模已达到36.96万亿元，接近37万亿元，自4月以来已连续7个月创下历史新高。 西南证券首席投资顾问张刚表示，此轮增长由市场上涨与储蓄资金搬家共同驱动，形成财富效应正向循 环。股票型基金与混合型基金的规模增长，一方面受市场上涨带动，推动了基金净值与规模同步增加； 另一方面，股市上涨会催生财富效应，吸引大量资金要么流入二级市场购买股票，要么进入基金市场申 购这类基金，而这种储蓄资金的转移，进一步促成了基金规模的扩大。 邢星认为，接下来一段时间，机构将重点布局半导体、AI等科技类品种。此外，消费复苏主线及新能 源细分赛道，不仅估值处于合理区间，还叠加了业绩改善的逻辑。另一方面，债券市场调整后也出现了 错配机会，且债市拥挤度有所下降，短债、中短债基金的配置价值愈发凸显。 安杰则建议，当前依然是结构性行情，投资者还是应依据自身风格择机布局。对于激进投资者，可以关 注AI科技、芯片等高波动品种；稳健投资者则可把握绩优高分红 ...

Core Viewpoint - The Hong Kong stock market has shown strong performance since 2025, with the Hang Seng Index increasing nearly 28% year-to-date, driven by significant inflows of southbound capital and renewed interest from foreign investors in Chinese assets [1][2][3]. Group 1: Market Performance - The Hang Seng Index has reached new highs in 2025, with a year-to-date increase of approximately 28%, making it one of the top-performing markets globally [1]. - Southbound capital has seen a net inflow of nearly 800 billion HKD this year, approaching the total for the entire year of 2024, indicating a potential record-breaking year [1][4]. - As of July 24, the Hang Seng Index, Hang Seng Tech Index, and Hang Seng China Enterprises Index have year-to-date increases of 27.95%, 28.53%, and 26.99% respectively, with various sectors experiencing significant growth [8]. Group 2: Foreign Investment Trends - Foreign investors have begun to reassess the value of Chinese assets, with a net increase of 10.1 billion USD in domestic stocks and funds in the first half of the year, reversing a two-year trend of net selling [2][3]. - South Korean investors have traded over 5.4 billion USD in A-shares and Hong Kong stocks this year, making China their second-largest overseas investment destination after the U.S. [2]. - The return of foreign capital is attributed to a global rebalancing of investments, with funds shifting from traditional safe-haven assets like U.S. dollars and bonds to Asian markets [2][3]. Group 3: Southbound Capital Dynamics - Southbound capital's inflow is reshaping the market ecosystem, with a cumulative net inflow of nearly 4.5 trillion HKD since the launch of the Stock Connect program [4]. - The proportion of southbound capital in trading has increased to 35%, with significant contributions from individual investors and exchange-traded funds (ETFs) [4][6]. - The demand for Hong Kong stocks from mainland investors is rising, supported by narratives around AI, new consumption, and innovative pharmaceuticals [4][7]. Group 4: Future Market Outlook - Analysts expect that the influx of southbound capital and foreign investment will continue to support the Hong Kong market, with potential additional liquidity from stock buybacks by Hong Kong companies [6][10]. - Despite the significant gains in the market, many companies still exhibit low price-to-book (PB) and price-to-earnings (PE) ratios, indicating further growth potential [10]. - Potential opportunities in the second half of the year include sectors focused on domestic demand, technology innovation, and industries with strong comparative advantages in exports [11].

Group 1 - The A-share market is experiencing positive signals with an increase in active equity fund positions, marking the end of a three-week downward trend [1] - As of May 23, the average position of active equity mixed funds rose to 83.94%, an increase of 1.46 percentage points from May 16, indicating a recovery in market sentiment [1] - Public fund self-purchase enthusiasm is on the rise, with a total of 2.1 billion yuan invested in equity funds by public institutions this year, reflecting their long-term value recognition of the market [1] Group 2 - After a reduction in positions in early April, stock private equity funds are gradually returning to rationality, with an overall position index stabilizing at 75.16% as of May 16 [2] - The insurance sector is also showing increased market participation, with a total of 1.12 trillion yuan approved for long-term investments, and an additional 60 billion yuan expected to be injected into the market [2] - As of May 22, the net inflow of funds in May accounted for 0.5% of the A-share market's circulating market value, indicating a slight net inflow of funds since the beginning of 2025 [2] Group 3 - In the context of weakening dollar credit, Chinese assets are expected to benefit from a global rebalancing of capital allocation, supported by domestic industrial breakthroughs and manufacturing advantages [3] - Continuous implementation of financial policies is anticipated to drive investors towards equity assets, further injecting marginal funds into the capital market [3]

Group 1 - The A-share market is experiencing positive signals with an increase in active equity fund positions, marking the end of a three-week downward trend [1] - As of May 23, the average position of active equity mixed funds rose to 83.94%, an increase of 1.46 percentage points from May 16, indicating a recovery in market sentiment [1] - Public fund self-purchase enthusiasm is on the rise, with a total of 2.1 billion yuan invested in equity funds by public institutions this year, reflecting their long-term value recognition of the market [1] Group 2 - After a reduction in positions in early April, stock private equity funds are gradually returning to rationality, with an overall position index stabilizing at 75.16% as of May 16 [2] - The insurance sector is also showing increased market participation, with a total of 1.12 trillion yuan approved for long-term investment trials, and an additional 60 billion yuan expected to be injected into the market [2] - As of May 22, the net inflow of funds in May accounted for 0.5% of the A-share circulating market value, indicating a slight net inflow of funds since the beginning of 2025 [2] Group 3 - In the context of weakening dollar credit, Chinese assets are expected to benefit from a global rebalancing of capital allocation, supported by domestic industrial breakthroughs and manufacturing advantages [3] - Continuous implementation of financial policies is anticipated to drive investors' asset allocation towards equity assets, further injecting marginal funds into the capital market [3]