Core Insights - On June 20, the stock ETF market experienced a net inflow of 4.5 billion yuan despite a general market decline, indicating continued investor interest in certain sectors [2][4] - For the week, stock ETFs attracted nearly 20 billion yuan, although there has been a slight net outflow since June began [2][3] Fund Inflows - On June 20, 19 stock ETFs saw net inflows exceeding 100 million yuan, with the top three being the Southern CSI 500 ETF, Southern CSI 1000 ETF, and E Fund ChiNext ETF, each gaining over 390 million yuan [4] - The Southern CSI 500 ETF alone had a net inflow of over 1.3 billion yuan, highlighting its popularity among investors [4][5] Fund Outflows - Conversely, several major stock ETFs experienced significant net outflows, with the SSE 50 ETF and CSI 300 ETF leading the losses, each losing nearly 400 million yuan [7][8] - The total net outflow for the top 20 losing ETFs included multiple broad-based and sector-specific ETFs, indicating a shift in investor sentiment [7] Market Overview - As of June 20, the total number of stock ETFs in the market reached 1,118, with a total scale of 3.48 trillion yuan [3] - The bond ETF market also saw substantial inflows, exceeding 10 billion yuan, primarily driven by credit bond ETFs, indicating a broader trend of risk aversion among investors [4][5] Fund Management Insights - Major fund companies like E Fund and Southern Fund reported significant inflows into their ETFs, suggesting strong investor confidence in their management strategies [4][5] - Analysts from various fund companies expressed optimism about the domestic policy environment supporting economic recovery, while also cautioning about potential valuation pressures in the near term [7]