Chinese and foreign funds have poured into Xiangjiang River. Who is in charge of the 50 trillion Hong Kong stock market?

Since June 5438+February, 2020, Hong Kong stocks have invested more and more in the south. In the past two weeks, there has been a trend of accelerated inflow. Not only southbound capital, but also foreign capital has joined the ranks of buying Hong Kong stocks. Who is in charge of the 50 trillion Hong Kong stocks now, and see who has the pricing power. Personally, I think that the accelerated inflow of funds from the South is obviously for the pricing power of Hong Kong stocks, but historically, we are fighting for the pricing power.

First, we analyze the data. Recently, funds from the south have been pouring into Xiangjiang River. From the month of 65438+ 10, although it is not finished, the inflow has now exceeded 230 billion, a record high. Up to now, the proportion of southbound funds to buy stocks has exceeded 3% of the market value of Hong Kong stocks. This ratio is undoubtedly amazing.

Judging from the stock of funds, a brokerage report revealed that this time, insurance funds, Public Offering of Fund and self-employed individuals were the main forces, because the proportion of Public Offering of Fund in Q3 southbound funds was not high last year, so this time, the stock of funds may still be dominated by insurance funds. Therefore, this time, the main force for pricing power competition still depends on insurance funds.

However, in the competition for pricing power, China's institutional funds suffered a big loss in the liquor sector of A shares. At that time, foreign capital from the north increased its holdings in the A-share liquor sector, which reached its peak in March 20 19. During this period, domestic institutions kept holding positions repeatedly, which gave foreign investors in the north a great opportunity to win pricing power in one fell swoop. After Q3, foreign sad funds began to reduce their holdings of liquor, but at this time, China institutions increased their holdings.

Therefore, the competition for pricing power should be sooner rather than later. From this point of view, the southward funds entering Hong Kong stocks are basically in the software, communications, energy and semiconductor industries. However, the fierce stance of southbound funds entering Hong Kong stocks has made northbound funds oppose southbound funds again. From 65438+February, foreign-funded allocation funds and trading funds began to sell. In particular, the proportion of allocated funds in the Hong Kong stock index and market value is relatively high, and its scale is several times higher than the existing market value of funds from the south. If the following funds fail to keep up, not only will the pricing power be lost, but foreigners will also give people a wave of money. So the pricing power is really not so easy to grab.

But personally, we must fight for the pricing power, not only to fight for it, but also to find the weak sectors of our opponents to attack, and to find out the sectors with high value and good growth in the weak sectors for layout, instead of grabbing the pricing power at once. At present, the Hong Kong stock market is still in the hands of foreign investors, and southern funds should come.