最近 A 股、港股是真热闹！ 居民储蓄开始通过基金入市，外资也在往A股、港股跑，美联储还要降息。 钱一多，港股直接冲破两万六千点，A 股就算有点波动，整体也在往上走。 但大家心里也犯嘀咕：这 "慢牛" 能撑多久啊？毕竟 2015 年也说过类似的话，后来跌得老惨了。 这次和当年到底不一样在哪？ 从另一个角度看，有人可能会念叨，现在有什么日光基金，说是居民储蓄在入市，可基金也有亏的时候 啊，要是投进去钱套住了就坏事了。 这担心咱们也能理解，就像有人怕 "把钱存进小银行没保障"一样。 但得看情况，现在基金募资限额大多在 10-50 亿元，还没出现单日卖百亿的情况。 这就说明储蓄入市才刚开始，行情可能还在前期，就像 "刚发芽的小苗，还没长到最茂盛的时候"，暂 时不用太担心涨过头。 老百姓的储蓄、外资的钱，到底能不能一直撑着市场涨下去吗？ 说实话，2015年实属意外，有很多场外配资，杠杆加得太猛，就像 "借钱炒股，赢了赚得多，输了赔精 光"。 现在监管严管场外配资，大家主要用场内融资融券，杠杆不超过两倍，两融余额跟流通市值的比值还不 到3%，比2015年的4.2%低不少。 而且现在投资者也吸取了教训，不敢随便加杠杆，风 ...

外资对中国资产的态度正发生转变。 来自格上基金的数据显示，从两周前开始，主动外资出现自去年10月以来首次流入A股，并于 上周（8月25日—8月29日）加速流入。同时，主动外资流出港股与ADR有所放缓。 而国家外汇管理局7月数据显示，上半年外资净增持境内股票和基金101亿美元，扭转了过去两 年总体净减持态势。尤其是5、6月份，净增持规模增至188亿美元，说明全球资本配置中国境 内股市的意愿增强。 港交所最新数据则显示，5月至7月末，长线稳定型外资机构资金累计流入约677亿港元，短线 灵活型外资机构资金流入约162亿港元。 "目前外资参与中国资产投资，仍以交易型资金居多，配置型资金还在观望。但是近期外资明 显加大了对中国资产的兴趣和关注度。" 一位业内人士说 。 业内人士认为，后续美元仍处于大的贬值周期，随着人民币升值空间打开，A股和港股赚钱效 应提升，中国资产有望迎来外资持续加仓周期。 外资回流中国资产 8月以来，中国资产全线爆发，上证指数站上3800点，再创10年新高；科创50指数也创出历史 新高。 今年A股表现出色。截至9月2日，今年以来，上证指数涨15.11%，沪深300指数涨14.12%，创 业板指和科 ...

最近看到一则新闻，让我这个在股市摸爬滚打多年的老股民感慨万千。外资正在大举加仓A股，上半年净增持超过100亿美元。电子和医药生物行业 成为外资调研的焦点，被调研个股平均涨幅达4.62%，更有博瑞医药等个股涨幅超过12%。 | 代码 | 简称 | 和分析和 | 8月以来 | 急行分 行业 | | --- | --- | --- | --- | --- | | 出切景观 | | | 為天候 | ( 亿元) | | | | | (%) | | | 688166 | 博瑞医药 | 2 | 19.13 | 492.48 医药生物 | | 002353 杰瑞股份 | | 15 | 17.70 | 469.13 机械设备 | | 301322 | 绿通科技 | 1 | 13.44 | 46.41 河车 | | 002533 | 金杯电工 | 1 | 12.34 | 82.86 电力设备 | | 000408 | 暖格矿业 | 2 | 9.82 | 792.34 有色金网 | | 605588 冠石科技 | | 3 | 9.66 | 38.19 电子 | | 300146 | 汤臣倍健 | 5 | 8.16 | 216.52 ...

Market Performance - The equity market continues to perform well, with A-shares and H-shares showing resilience despite global risk factors such as increased tariffs from the U.S. [1][2] - The recent high risk appetite and capital-driven logic in the equity market is evident, with significant net buying in margin trading and high average positions in private equity [3] Capital Flow and Investment Trends - Margin trading has seen net buying for 14 out of the last 15 trading days, reaching new highs since the tariff announcement [3] - Private equity positions have increased, with the average stock position exceeding 77%, marking a two-year high [3] - The robotics sector has seen a surge in interest, particularly after contracts were awarded to companies like Yushutech and Zhiyuan Robotics, leading to significant gains in related ETFs [3] Foreign Investment Dynamics - Northbound capital, previously considered "smart money," has shown a mixed trend, with total market value held by foreign investors increasing but with structural adjustments in stock holdings [9][12] - The total market value of Northbound funds reached 2.29 trillion, with an increase of 871 billion compared to the end of 2024 [9] - The performance of Northbound funds suggests a "lying flat" state in terms of total A-share investment exposure, despite some structural adjustments in holdings [12] Sector Performance - Key sectors benefiting from foreign investment include electric vehicle manufacturers and mining companies, particularly those involved in lithium and copper [15] - Conversely, sectors like liquor and consumer goods have seen significant reductions in foreign holdings, indicating a shift in investment focus [16] Financial Sector Insights - The financial sector, particularly large banks, has faced selling pressure from foreign investors, which aligns with the buying activity in Hong Kong stocks [17] - The performance of A+H listed companies shows that Hong Kong shares have generally outperformed their A-share counterparts, leading to a compression of the A-H premium [20] Earnings Outlook - The upcoming earnings season is expected to reveal significant sectoral disparities, with strong performance anticipated in sectors like brokerage and gold mining, while sectors like liquor and solar energy may face challenges [30][32][36]