Editor's note: After the previous adjustment, the A-share market has ushered in a strong rebound recently.

Since the three major stock indexes hit their lows for the year on April 27, as of July 8, the Shanghai Composite Index has increased by 16.27% during the period, and the Shenzhen Component Index and ChiNext have increased by 25.97% and 31.02% respectively.

Where did the market capital in this round of rising market go?

What are the incremental funds?

has become the focus of attention.

Today, this newspaper analyzes and sorts out the latest changes in the positions of multi-channel funds such as large-scale market funds, northbound funds, and two-finance funds for readers.

　　Our reporter Zhang Ying

　　Trainee reporter Chu Lijun

　　"Heavy volume rebound" has become a high-frequency word to describe the A-share market recently.

　　It can be seen that the Shanghai Composite Index has rebounded after hitting a low of 2863.65 points for the year on April 27. As of July 8, the Shanghai Composite Index has increased by 16.27% during the period.

At the same time, with the rebound of the market, the amount of energy has been enlarged, and the turnover of A-shares has remained at a level of more than one trillion yuan.

Among them, from June 23 to July 8, the turnover of Shanghai and Shenzhen stock exchanges exceeded one trillion yuan for 12 consecutive trading days.

　　With the recovery of the market, the high-quality stocks that have been rushing to raise funds during the period of large single funds have become the focus of investors.

　　According to data from Oriental Fortune Choice, from April 27 to July 8, 548 stocks have shown a net inflow of large-scale funds during the period, with a total net inflow of 47.190 billion yuan during the period.

　　In an interview with a reporter from "Securities Daily", Yang Daiqi, fund manager of Ambience Fund, said that before April 27, the market experienced a major correction, and many high-quality targets fell out of opportunities. With the elimination of unfavorable factors, the market gradually rebounded, and large orders Funding has also begun to rush to raise.

　　Funds poured into four major industries

　　From the perspective of the first-tier industries of Shenwan, among the above 548 stocks, the stocks in the four major industries, including power equipment, pharmaceuticals and biology, non-ferrous metals, and electronics, had the highest net inflows of large single funds during the period, which were 7.566 billion yuan and 4.768 billion yuan respectively. , 4.361 billion yuan, 4.208 billion yuan, and the total net inflow of large-scale funds reached 20.904 billion yuan.

　　In terms of market performance, the above-mentioned four industry indexes all achieved good gains.

From April 27 to the close of July 8, the power equipment index has risen by 56.14%, the non-ferrous metal index has risen by 38.50%, the electronic index has risen by 27.99%, and the pharmaceutical and biological index has risen by 17.91%.

　　In terms of investment opportunities, Long Hao, chairman of Jinding Assets, told the "Securities Daily" reporter that since the end of April, the above-mentioned four major industries that have attracted the attention of large funds have rebounded as a whole and outperformed the broader market index, and some individual stocks have a lot of room for profit. .

However, from a technical point of view, these profit-making funds have shown signs of loosening their chips, and it is inevitable that individual stocks in the industry will diverge. The trend in the medium and long term will not change, and if it pulls back, it will be an opportunity for investors to make layouts.

　　Liu Wenting, a wealth researcher at Pai Pai.com, believes that in the electronics industry, under the background of electrification, intelligence and localization, the valuation of superimposed stocks is relatively low, and the willingness to increase funds is also relatively strong. Therefore, he is optimistic about the recovery of the electronics industry.

In addition, in the pharmaceutical and biological industry, under the background of my country's aging population, the industry has a lot of room for growth. Although there are still certain uncertainties in the short term, from a long-term perspective, the pharmaceutical and biological industry with sufficient risk release is still very important. investment value.

　　"The above-mentioned industries have undergone adjustments in the early stage, and some high-quality stocks have been killed by mistake. It is also reasonable for large-scale funds to buy related stocks in the follow-up. This also gives investors a good inspiration, that is, don't blindly be misled by market sentiment when investing. " Yang Daiqi said.

　　Four characteristics highlight investment potential

　　Statistics found that among the 548 stocks mentioned above, 131 stocks received a net inflow of over 100 million yuan from large orders during the period.

Among them, Tianqi Lithium ranked first in the net purchase amount of large-scale funds during the period, which was 3.276 billion yuan; Sanhua Zhikong, Tiger Pharmaceutical, Focus Media, Zhongwei Co., Ltd., Westone, Baosteel Co., Ltd., China Baoan, etc. 7 The net inflow of funds from large orders during the period of only individual stocks also exceeded 700 million yuan, and the total net inflow of funds from large orders during the above 8 stocks was 8.847 billion yuan.

　　The reporter further combed and found that the above-mentioned 548 stocks that were rushing to raise funds from large orders mainly showed four characteristics:

　　First, over 90% of stocks rose during the period.

The inflow of funds played a role in boosting the rise in stock prices, with 523 stocks rising during the period, accounting for 95.44%.

It is worth mentioning that 426 stocks outperformed the Shanghai Composite Index during the same period (up 16.27% cumulatively during the period), accounting for nearly 80%.

　　Second, blue-chip stocks are favored by large-scale funds.

In the first quarter of this year, 285 companies achieved a year-on-year increase in net profit attributable to their parent companies, accounting for more than 50% of the total.

In addition, 42 companies took the lead in releasing their performance forecasts for the first half of this year, and 31 companies had positive results.

　　Third, some companies are favored by social security funds.

Statistics found that as of the end of the first quarter of this year, social security funds appeared among the top ten tradable shareholders of 99 companies, with a total shareholding of 1.548 billion shares.

　　Liu Wenting said that large-scale funds often represent institutional funds, and institutional funds have strong pricing power in the market. Therefore, individual stocks that receive large-scale funds tend to outperform the broader market.

In addition, from the perspective of institutional investment style, individual stocks that can be recognized by institutional funds tend to have excellent fundamentals and high long-term investment value.

　　Fourth, nearly 200 individual stocks were favored by institutions.

In the past month, 191 stocks have been rated as "buy" or "overweight" by institutions. Among them, Hang Seng Electronics has received the most optimistic ratings with 17 times; Venus has 13 times; Pioneer Intelligence, Zhenhua Technology , China Test Navigation, Maiwei Shares, Dangsheng Technology, Glodon, Paineng Technology and other stocks were rated 8 times.

　　"The above-mentioned stocks that are robbed by large-scale funds tend to attract more attention from small and medium investors. Since institutions tend to have low valuations and growth in stock selection and operation, the general selection of stocks is generally good. For listed companies with a margin of safety and representative in the industry, in the medium and long term, the stock prices of these companies have upward momentum." Long Hao said.

(Securities Daily)