The proportion of Chinese assets for three years of A -share "getting rich" has continued to increase

Since June 21, 2019, A shares have been incorporated into the FTSE Russell Global Stock Index for three years. It is worth noting that the latest FTSE Russell quarterly review and adjustment has taken effect on June 17th. On the same day, the northbound capital entered the market and bought 9.168 billion yuan in net.

"A shares have been gradually incorporated into the FTSE Russell Index, which fully proves the recognition of global capital investment value. In the past three years, it has not only driven a large number of tracking funds to continue to increase A shares, but also provides the global allocation value of A shares. Important certification further promotes the internationalization process of the A -share market. "Zhang Junxiao, chief strategy analyst of Guosheng Securities, said in an interview with the Securities Daily reporter.

Index adjustment attraction market attention

A few days ago, FTSE Russell announced the change of FTSE China 50 Index, FTSE China A50 Index, FTSE China A150 Index, FTSE China A200 Index, FTSE China A400 Index, FTSE China A small -cap stock index, and After the closing on June 17, it took effect.

Among them, the FTSE China A50 Index was newly included in the three companies: Conch Cement, CITIC Bank, and Tongwei; excluding Zhifei Bio, Gree Electric, and PetroChina.

In this regard, the chief economist of CITIC Securities clearly said in an interview with the Securities Daily that the market value is an important factor that affects changes in component stocks, and the phase of the stock price may cause the company to be included or eliminated. At the same time, liquidity is also the focus of the index. If the company's foreign -funded shareholding ratio is close to restrictions, the company may be removed from the index.

Chen Li, chief economist of Chuancai Securities and director of the Institute of Research, told a reporter from the Securities Daily that A shares were incorporated into the FTSE Russell Index, reflecting the trend of A shares gradually internationalized. In the long run, it is conducive to attracting the tracking index The inflow of funds will increase the participation of foreign investment in my country's capital market, thereby further improving the structure of investors in my country's stock market. In the short term, foreign capital inflow can boost investor confidence and stabilize investor emotions.

"With the continuous growth of the Chinese economy and capital market and the continuous emergence of excellent Chinese companies, global investors' attention to the Chinese capital market is getting higher and higher. In the process, the FTSE Rusen Index is also constantly increasing A. The proportion of stocks in the global and emerging market indexes. "Zhang Jun, chief economist of Morgan Stanley Securities, said in an interview with the Securities Daily reporter.

Wind data statistics show that a total of 1,249 listed companies in A shares are currently included in the FTSE Russell Index. From the perspective of the industry, the proportion of pharmaceuticals, electronics, and power equipment industries.

"The international indexes such as FTSE Russell have shown a trend of spreading from large -cap stocks to small and medium -cap stocks." Zhang Junxiao said that on the one hand, the income is increasingly widely included. From the early leaders Cover; on the other hand, the degree of customization of the international index on A shares has been continuously improved, and the index system linked to A shares has been continuously refined and improved, providing the basis for subsequent construction of related futures and options derivatives.

Foreign capital continues to be optimistic about A shares

From the perspective of the flow of funds in the north, Wind data shows that in terms of monthly transactions, since 2021, there has been a large net sales in the northern direction of funds in March this year, and the remaining months are net purchase. Continuously large -scale buying is an affirmation of the long -term value of A shares.

Zhang Junxiao said that since the epidemic, the advantages of China's capital market have continued to prominent, the technological innovation capabilities of Chinese enterprises have continued to increase, and the investment value of Chinese assets has been optimistic about overseas institutions. Foreign capital continuously increasing to a certain extent confirms that foreign capital affirmation of A -share assets has affirmed A -share assets. Essence

Goldman Sachs China's stock strategy research team believes that the risk return of "investment recovery beneficiary stocks" has become attractive. Looking forward to the future, manufacturing related stocks will lead the lead, and consumer -related stocks are expected to rebound later. Pay attention to the manufacturing economy will bring more favorable risk returns to investors who have traded recovery.

"In the past 20 years, my country's economy has developed rapidly, and it is expected to continue to maintain a high growth rate in the future. At the same time, in recent years, my country's capital market reform has been increasing, and the experience of investing in A shares has continued to increase. As far as openness is concerned, with the interconnection The interoperability mechanism has gradually deepened, and the A -share market has grown into a more international market. In summary, the attractiveness of the A -share market will continue to rise. "Obviously. (Meng Ke)

[Editor in charge: Wang Yuxin]

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