Market Liquidity Overview - R007 increased from 1.5160% to 1.5538%, a rise of 3.78 basis points; DR007 rose from 1.5096% to 1.5313%, an increase of 2.17 basis points. The spread between R007 and DR007 widened by 1.61 basis points [9][13] - The net inflow of funds this week was 31.344 billion yuan, an increase of 81.749 billion yuan compared to last week. Fund supply was 104.51 billion yuan, while fund demand was 73.166 billion yuan. Specifically, fund supply decreased by 42.373 billion yuan, with net financing purchases down by 20.201 billion yuan and stock dividends down by 28.005 billion yuan [13][16] Industry Sector Liquidity Tracking - Most sectors in the CITIC first-level industry index declined, with a weak overall market style and a continued pattern of sector differentiation. The number of declining sectors exceeded that of rising sectors, with the electronic sector showing the most significant increase of 3.67% [18][20] - The consumer services and retail trade sectors led the declines, with decreases of 6.71% and 3.92%, respectively [18][20] Style Sector Liquidity Tracking - Growth style had the largest increase of 1.58%, while consumer style experienced the largest decline of 2.18%. Growth style accounted for 61.88% of the average daily trading volume, making it the most active sector [3][21] - The average turnover rate for growth style remained the highest at 3.37%, while financial and stable styles had relatively low turnover rates [3][21]

Market Liquidity Overview - R007 increased from 1.4566% to 1.4651%, a rise of 0.85 basis points, while DR007 rose from 1.4372% to 1.4575%, an increase of 2.03 basis points. The spread between R007 and DR007 narrowed by 1.18 basis points [1][9] - The net inflow of funds this week was 2.997 billion, a decrease of 64.904 billion from the previous week. Fund supply was 110.177 billion, and fund demand was 107.180 billion. Fund supply increased by 15.540 billion, with net financing purchases rising by 37.822 billion [1][13] Industry Sector Liquidity Tracking - Most sectors in the CITIC first-level industry index rose this week, with the real estate sector showing the most significant increase at 6.99%. Other sectors like electronics and agriculture also saw slight gains. Conversely, the banking and comprehensive finance sectors led the declines, falling by 0.64% and 0.58%, respectively [2][18] - The electronic industry received the highest net inflow of leveraged funds, totaling 16.839 billion, while the transportation sector experienced a net outflow of 1.031 billion, marking the most significant reduction [21][22] Style Sector Liquidity Tracking - Growth and cyclical styles led the performance this week, with increases of 3.56% and 1.87%, respectively. The growth style accounted for 58.61% of the average daily trading volume, indicating it was the most active sector [3][19] - The average turnover rate for the growth style was the highest at 3.45%, while financial and stable styles had relatively low turnover rates [3][19]

Market Liquidity Overview - R007 increased from 1.5811% to 1.591%, a rise of 0.99 basis points, while DR007 decreased from 1.502% to 1.4941%, a drop of 0.79 basis points. The spread between R007 and DR007 widened by 1.78 basis points [9][11] - The net outflow of funds this week was 320.904 billion, an increase of 391.818 billion from the previous week. Fund supply was 144.097 billion, and fund demand was 465.001 billion [11][12] Industry Sector Liquidity Tracking - Most sectors in the CITIC first-level industry recorded declines, with the banking sector showing the strongest performance, up 3.13%. The pharmaceutical and textile sectors led the declines, falling 4.16% and 4.10% respectively [16][17] - The pharmaceutical industry had the highest overall congestion score, indicating significant market activity and potential risk [27][28] Style Sector Liquidity Tracking - The consumer style index experienced the largest decline of 3.90%, while the financial style saw a slight increase of 0.05%, making it the only sector with positive returns [32][33] - The growth style maintained the highest daily trading volume share at 52.43%, significantly ahead of other styles, and also had the highest turnover rate at 2.33% [30][32]

证券研究报告—策略周报 撰写日期：2025 年 06 月 16 日 策略周报（20250609-20250613） ⚫ 市场流动性概况 R007 由 1.5514%增加至 1.5811% ，较前期增加了 2.97 个 bp；DR007 由 1.5323%下降至 1.502%，较前值减少了 3.03 个 bp。R007 与 DR007 利差 较前期增加了 6.00 个 bp。此外，中美利差在本周减少了 8.19 个 bp。 本周资金净流入金额为 709.14 亿元，较上周增加了 142.27 亿元， 其中资金供给为 1323.94 亿元，资金需求为 614.80 亿元。具体来看，资 金供给增加了 480.21 亿元，其中融资净买入增加了 8.43 亿元，股票分红 增加了 653.35 亿元，股票型 ETF 净申赎减少了 61.95 亿元,股票型基金与 混合型基金成立减少了 119.62 亿元；资金需求增加了 337.94 亿元。 ⚫ 行业板块流动性跟踪 本周中信一级行业涨跌互现，市场风格分化明显，涨跌行业数量大致 相当。从上涨板块来看，有色金属和石油石化领涨，分别上涨约 3.95%和 3.31%。下跌方面，食品 ...