Yesterday (December 19th), the turnover of Shanghai and Shenzhen stock exchanges was 756.8 billion, a decrease of 4.6 billion compared with the previous trading day. Choice data shows that there were 2.627 billion net purchases of equity ETFs in the market yesterday, including 1.822 billion net purchases of equity ETFs in Shanghai and 85 million net purchases of equity ETFs in Shenzhen. Based on the latest net value, the net purchase amount in the market yesterday reached 6.276 billion yuan.

battery leading ETF funds led the gains

data show that among the stock ETFs in the market yesterday, battery leading ETF funds, new energy leading ETF funds and lithium battery ETF funds were among the top gainers, among which, battery leading ETF funds rose by .93%, ranking first.

CSI 5ETF funds have the largest subscription

Yesterday, the largest net subscription amount was CSI 5ETF funds, with a net subscription amount of 2.281 billion yuan. In addition, Shanghai and Shenzhen 3ETF funds and Kechuang 5ETF funds were also among the top purchasers, with net subscription amounts of 541 million yuan and 449 million yuan respectively.

The redemption of wine ETFs

The data also shows that the exchange ETF with the largest net redemption amount yesterday was the wine ETF fund, with a redemption amount of 226 million yuan, followed by the GEM ETF fund with a redemption amount of 119 million yuan.

institutional outlook

central china securities said that since late August, the value of RMB against the US dollar has fallen to the lowest level since 28. If the Fed's interest rate hike cycle comes to an end in late 222-early 223, the pressure of RMB depreciation will be relieved. At present, the policy of stabilizing real estate is constantly strengthening. After the real estate market stabilizes in the future, the economy is expected to accelerate its recovery. In the future, the overall stock index is expected to maintain a volatile pattern, and at the same time, it is still necessary to pay close attention to the changes in policy, capital and external factors.

BOC Securities believes that the downward trend of overseas demand will be established in 223, and the Fed's interest rate hike will gradually come to an end, and the short-term overseas cycle will gradually usher in the late recession of taking the initiative to go to the warehouse. The domestic economy will bottom out, stabilize and rebound, and the short-term domestic cycle will gradually move from the later period of recession under the economy of wide money and tight credit to the early stage of expansion of the economy of wide credit and stable money. With the marginal warming of demand, enterprises will gradually enter the stage of passive destocking. From the mid-cycle point of view, it is about to enter the second inventory cycle of Kangbo depression, and it is expected that the world will gradually start the short-term cycle from 223.