2025年7月10日，共188只ETF基金获融资净买入，43只ETF基金融券净卖出。融资净买入金额超500万元的有35只，科创50ETF(588000.SH)、短融 ETF(511360.SH)、恒生科技ETF(513130.SH)、科创芯片ETF(588200.SH)、纳斯达克ETF(513300.SH)杠杆资金显著流入，分别净流入1.11亿元、1.04亿元、 6903.41万元、6750.33万元、4571.81万元。 | 排名 | 基金管理人 | 证券名称 | 证券代码 | 净买入金额（万元 | | --- | --- | --- | --- | --- | | l | 花直甚令 | 科创50ETF | 588000 | 1109( | | 2 | 海富通基金 | 短融ETF | 211360 | 10412 | | 3 | 华泰柏瑞基金 | 恒生科技ETF | 513130 | 690: | | ব | 嘉实基金 | 科创芯片ETF | 588200 | 675( | | 5 | 华夏基金 | 纳斯达克ETF | 513300 | 457. | | 6 | 易方达基金 | 中概互联网ETF | 513 ...

摩根大通预计下半年将有接近5000亿美元资金流入美股市场，足以推动股市再上涨5%-10%。这一预测的主要支撑力量来自散户投资者，而对冲基金和机 构投资者的增量贡献有限。 据追风交易台消息，7月11日摩根大通发表研报指出，今年美股购买力的核心引擎将是散户投资者，其持续的资金投入预计将成为下半年市场的主要支 撑。 摩根大通的预测模型显示，2025年全年，散户对股票基金的净买入总额预计为6300亿美元。截至目前，2025年上半年已累计流入约2700亿美元。这意味 着，在今年剩下的时间里，还将有3600亿美元的资金来自散户投资者。 对于近期5月和6月散户买入势头减弱的现象，报告认为无需过分担忧。这主要是因为散户在3月和4月市场下跌时大举抄底（包括买入杠杆ETF），随着市 场V型反弹，尤其是一些3倍杠杆的纳斯达克ETF价格几乎翻倍，散户进行获利了结是自然行为。报告因此认为，这只是阶段性的获利回吐，而非投资行为 的根本转变，并预计散户将从7月起恢复购买。 研报强调，尽管对冲基金等机构投资者的增持空间已然有限，且养老基金等仍在结构性卖出股票，但散户、风险平价基金和平衡型共同基金的潜在买盘力 量强大，足以抵消这些卖压，并为市 ...

2025年6月24日，共229只ETF基金获融资净买入，35只ETF基金融券净卖出。融资净买入金额超500万元的有44只，香港证券ETF(513090.SH)、沪深 300ETF(510300.SH)、30年国债ETF(511090.SH)、港股创新药ETF(513120.SH)、创业板ETF(159915.SZ)杠杆资金显著流入，分别净流入2.32亿元、1.70亿元、 1.41亿元、1.13亿元、8108.33万元。 拉长时间看，近5天获杠杆资金融资净买入超过500万元的有60只，金额居前的为香港证券ETF、港股创新药ETF、创业板ETF、中证500ETF、沪深300ETF 等，分别净流入2.41亿元、2.11亿元、1.22亿元、8446.36万元、6547.48万元。其中，创业板ETF近5天获杠杆资金大幅融资净买入，达到成交额的1.67%。 | 排名 | 基金管理人 | 证券名称 | 证券代码 | 净买入金额（万元 | | --- | --- | --- | --- | --- | | l | 易方达基金 | 香港证券ETF | 213090 | 24092 | | 2 | 广发基金 | 港股创新药ETF ...

Market Performance - On Monday, US stock markets experienced a dramatic reversal, initially opening lower due to Moody's downgrade of the US sovereign credit rating, with the S&P 500 index dropping over 1% and the Nasdaq falling more than 1.5% [1] - However, by the end of the trading day, all three major indices closed slightly higher, with the Dow Jones up 0.32% at 42,792.07 points, the S&P 500 up 0.09% at 5,963.6 points, marking six consecutive days of gains, and the Nasdaq up 0.02% at 19,215.46 points [1] ETF Performance - Various ETFs, including the Nasdaq Technology ETF, Nasdaq ETF, Dow Jones ETF, and S&P 500 ETF, saw increases in value [2] - Specific ETFs showed notable daily gains, with the Nasdaq Technology ETF rising by 1.46% and the S&P 500 ETF increasing by 1.20% [3] Retail Investor Activity - Retail investors are driving a record influx of capital into the US stock market, with net purchases reaching a record $4.1 billion as of May 19, marking the first time this figure surpassed $4 billion before noon [4] - Retail trading volume accounted for 36% of total trading, setting a new peak since April [4] Major Stock Movements - Significant net purchases were observed in popular stocks, with Tesla seeing a net buy of $675 million and Palantir receiving $439 million [4] Market Sentiment and Warnings - Jamie Dimon, CEO of JPMorgan Chase, issued a warning about high risks in the credit market, suggesting that optimism may be misplaced and that the market could face significant downturns [5] - Notable investors, including Warren Buffett and Li Lu, have reduced their positions in US stocks during the first quarter [5] Valuation Trends - The valuations of the "Tech Seven" giants have dropped to a seven-year low, with their forward price-to-earnings ratio at 28 times, which is a 43% premium over the S&P 493 index's 20 times [5] - This adjustment has led to the lowest NTM valuation multiples for Apple, Alphabet, Amazon, Meta, Microsoft, Nvidia, and Tesla since 2018 [5] Future Outlook - Goldman Sachs strategists believe that lighter short-term positions and cheaper valuations could lead to a rebound in the stock prices of the Tech Seven, although risks remain due to ongoing antitrust investigations and competitive pressures [6] - Dimon cautioned that earnings growth expectations for S&P 500 constituents are likely to decline from approximately 12% at the beginning of the year to zero growth in six months, which would also impact price-to-earnings ratios [6]

QDII产品密集发布溢价风险提示公告。 13日早盘，标普消费ETF和标普500ETF开盘至10:30双双停牌，景顺长城基金和国泰基金均公告，基金二级市 场交易价格明显高于基金份额参考净值，出现较大幅度溢价，盲目投资可能导致重大损失。复牌后，两只基金 一路走高，尾盘同时封涨停板。 实际上，资金狂热追捧下，基金公司已连日发出多份溢价风险提示公告。五一节后开市至今共6个交易日，国 泰基金标普500ETF和景顺长城基金标普消费ETF已经连发6份二级市场交易价格溢价风险提示及停牌公告。回 溯4月份，上述两只基金同样是发出21份风险提示公告，几乎是每个交易日都提醒一次风险。 多只QDII持续高溢价，风险提示超千次 事实上，溢价风险并非仅集中于标普ETF。今年以来，多家基金公司密集发布风险提示，涉及产品覆盖跨境 ETF、LOF等多个品种。 近期，受境外市场波动及资金炒作影响，QDII基金溢价风险持续发酵。5月13日标普消费ETF和标普500ETF涨 停，基金公司紧急连发风险提示，提醒投资者切勿盲目跟风，以防遭受重大损失。 券商中国记者注意到，近期多只跨境ETF及LOF基金溢价率大幅攀升，5月份以来有部分QDII基金每个交易 ...

Group 1 - A-shares of bank stocks are rising against the trend, with China Construction Bank reaching a historical high and both Industrial Bank and China CITIC Bank increasing by over 2% [1] - Hong Kong bank stocks are generally rising, with regional banks like Jiangxi Bank, Qingdao Bank, and Chongqing Bank leading the gains, while China Communications Bank hit a new high during the session [3] - The banking sector ETFs, including those from Huaxia Fund and Southern Fund, have seen increases ranging from 1.19% to 1.28% [5][7] Group 2 - On May 7, the State Council Information Office held a press conference introducing a "package of financial policies to stabilize the market and expectations," which includes ten measures to enhance macroeconomic control [9] - The People's Bank of China announced a 0.5 percentage point reserve requirement ratio cut, expected to provide approximately 1 trillion yuan in long-term liquidity to the market [9] - Analysts from Huashan Securities and Dongfang Securities are optimistic about the impact of these policies on bank liquidity and net interest margins [9] Group 3 - JPMorgan stated that the overall impact of the financial policies on net interest margin predictions is minimal, but liquidity injections and interest rate declines may protect bank spreads [10] - In the first quarter of this year, the A-share banking sector saw a rise of about 2%, while the H-share banking sector increased by over 13% [10] - Central Huijin increased its holdings in several ETFs, contributing to the inflow of passive funds into banking stocks [10] Group 4 - The largest bank ETF is from Huabao Fund, with a latest scale of 77.05 billion yuan, followed by Tianhong Bank ETF at 40.34 billion yuan [14][16] - The management fee for the E Fund Bank ETF is the lowest among similar products, totaling 0.2% per year [14] - The high dividend advantage of the banking sector remains attractive to insurance capital, especially with policies promoting long-term investments [18]

2025年4月10日，Wind数据显示，A股三大指数今日集体反弹，截止收盘，沪指涨1.16%；深证成指涨2.25%；创业板指涨2.27%。沪深两市成交额达到1.61万 亿，较昨日缩量901亿。 涨幅方面，美股跨境ETF掀起涨停潮 | | | ETF涨幅 TOP10 | | | | --- | --- | --- | --- | --- | | 证券代码 | 证券名称 | 涨幅 | 基金管理人 | 投资学 | | 159518 | 标普油气ETF | 10.06% | 嘉实基金 | QDII股票 | | 159501 | 纳斯达克指数ETF | 10.04% | 嘉实基金 | QDII股票 | | 513390 | 纳指100ETF | 10.03% | 博时基金 | QDII股票 | | 513300 | 纳斯达克ETF | 10.02% | 华夏基金 | QDII股票 | | 513870 | 纳指ETF富国 | 10.02% | 富国素全 | QDII股票 | | 159577 | 美国50ETF | 10.01% | 汇添富基金 | QDII股票 | | 159632 | 纳斯达克ETF | 10.01 ...

水皮杂谈 一家之言 兼听则明 偏听则暗 跌破万亿 每日看盘 今日A股三大指数缩量盘整，两市共成交9 6 6 4亿，较前个交易日缩量1 8 1 9亿。 其中沪指下跌 0 . 2 4%，收报3 1 6 0 . 7 6点； 深成指几乎平盘，收报9 7 9 6 . 1 8点； 创业板指上涨0 . 3 6%，收报 1 9 8 2 . 4 6点。 市场的活跃度在肉眼可见的继续降低，今天的成交量是自9 2 4政策市以来第一次跌破一万亿， 连续7 3个交易日成交额突破万亿大关后，有史以来持续时间最长的单日成交额超万亿元纪录在 第7 4个交易日被终结。随着成交量的萎缩，各大指数基本上都进入了9 2 7和9 3 0这两个交易日 之间的缺口位置进行补缺。 盘面上，全天两市2 9 9 0家上涨，2 0 0 9家下跌，很勉强在2点4 3分之后拉起来，5 1 0 0 5 0和 5 1 0 3 0 0均在同一时间出现了一波放量，某队维稳的意图明显。中位数涨了0 . 3 3%，微盘股指数 在早盘跳水大跌3 . 0 2%后最终上涨0 . 8 9%。 板块上，采掘行业、贵金属、有色金属、软件开发、医疗器械等涨幅居前，家用轻工、银行、 铁路公路、 ...