Original title: Hong Kong stock's profit making effect gradually shows that the scale of seven related ETFs has doubled

Shanghai Securities News reporter He Yi

Hong Kong stocks continued to rebound, and related ETF performance gradually recovered. As of May 21, the annual return of eight Hong Kong stock ETFs had exceeded 20%, and the scale of seven Hong Kong stock ETFs, including Yongying CSI Shanghai Shenzhen Hong Kong Gold Industry Stock ETF, Huaxia CSI Hong Kong Stock Connect Mainland Financial ETF, and E Fund CSI Hong Kong Stock Connect Internet ETF, had doubled from the end of last year.

Especially in the past month, driven by the earning effect, more than 1.8 billion yuan of capital flowed into ETFs including "Hong Kong" ETFs. In the view of insiders, since this year, the accumulated net purchase amount of southward funds has exceeded HK $200 billion, and the allocation proportion of public funds to Hong Kong shares has been significantly increased. Looking into the future, the Hong Kong stock market may maintain range shocks and there are structural opportunities.

The Hang Seng Index continued to rebound after reaching the end at the beginning of the year, making the fund performance gradually recover. Choice data shows that as of May 21, the annual average return rate of 90 Hong Kong stock ETFs available for statistics has reached 4.44%. Among them, 70% of Hong Kong stock ETFs have achieved positive returns this year, and 12 Hong Kong stock ETFs have returned more than 15% this year.

As of May 21, the yield of Huaxia CSI Shanghai Shenzhen Hong Kong gold industry stock ETF has reached 42.3% since this year, with a high increase; There are also eight Hong Kong stock ETFs, such as Yongying CSI Shanghai Shenzhen Hong Kong Gold Industry Stock ETF and Bosera Hong Kong Stock Connect Internet ETF, whose yield exceeds 20%.

Zhao Xiancheng, the fund manager of the Overseas Investment Department of Bosera Fund, analyzed that since this year, funds from the south have copied the bottom of Hong Kong stocks, and the operation is flexible, resulting in an obvious style switch of Hong Kong stocks. As the first quarter performance of some industries, such as coal and transportation, did not meet expectations, and funds were added to technology stocks whose fundamentals had improved significantly, Hong Kong shares in the new economy performed well.

The profit making effect is obvious, which has driven the scale of 43 Hong Kong stock ETFs to achieve varying degrees of growth this year. According to the data, as of May 21, Yongying CSI Shanghai, Shenzhen and Hong Kong gold industry stock ETF funds had reached 708 million shares. Based on the unit net value of 1.3185 yuan, the ETF scale of Yongying CSI Shanghai Shenzhen Hong Kong gold industry stock reached 934 million yuan, an increase of 750.32% over the end of last year.

At the same time, the scale of funds such as Huaxia China Securities Hong Kong Stock Connect Mainland Financial ETF, ICBC Credit Suisse China Securities Hong Kong Stock Connect High Dividend Selected ETF, and E Fund China Securities Hong Kong Stock Connect Internet ETF increased significantly, by 595.25%, 469.31%, and 186.70% compared with the end of last year.

The Hong Kong stock market continued to rebound, driving the investment heat back, and funds participated in Hong Kong stock investment through ETF. As of May 21, this year, funds such as E Fund China Securities Hong Kong Securities Investment Theme ETF, ICBC Credit Suisse China Securities Hong Kong Stock High Dividend Selection ETF, Win Win China Securities Shanghai Shenzhen Hong Kong Gold Industry Stock ETF, Morgan S&P Hong Kong Stock Low Wave Dividend ETF have received more than 600 million yuan of capital inflows respectively.

Especially in the past month, more than 1.8 billion yuan of funds were purchased from Hong Kong stock ETFs. Hong Kong stock Internet, Hong Kong stock high dividend, technology and other sectors are favored by funds.

When talking about the recent market, Xing Cheng, fund manager of Hang Seng Qianhai Fund, said that the Hong Kong stock market performance was strong, mainly for four reasons: first, policy support improved the risk preference and investor sentiment of the Hong Kong stock market to a certain extent; Second, in terms of corporate profits, the market's expectation of corporate profits has improved marginally, boosting investor confidence; Third, on the overseas side, due to the decline of PMI data of the US manufacturing industry, the market's expectation of the Federal Reserve's interest rate cut was rekindled; Fourth, in terms of funds, southward funds have been flowing in substantially.

"I am optimistic about the long-term performance of the Hong Kong stock market." Zhao Xiancheng believes that, as a Hong Kong stock weighting plate, the Internet plate, after early adjustment, is generally at a low level of valuation. Leading Internet companies focus on improving their own profits and take buyback measures in succession, which is expected to support future stock price performance.