Comment: At the time of overseas market turbulence, A shares have not become a ＂shelt

Source: Bloomberg

Although the fierce fluctuations in overseas markets such as the United States and Japan have made some institutions optimistic about the "East Rising West" transaction again, the data shows that foreign investors may still be unmoved.After Yuan RMB (S $ 1.4 billion), the Northbound Fund has changed to A shares this year.

Bloomberg summary data shows that there were three days of northbound funds on the five trading days of last week for net sales, and a total of nearly 15 billion yuan was sold throughout the week.At the same time, as of last Friday, the funds of the northbound funds on A shares have been sold for net sales since this year, with an amount of more than 1.7 billion yuan.

Benefiting from the city and steady growth measures that benefit from a package of China, from February to May this year, the northbound capital once largely returned A shares and helped the market.However, with the twists and turns of China's economic recovery and rigorous supervision, the northbound capital has evacuated the A -share market again since June.Last week, overseas markets fluctuated violently under the pressure of recession and superstructure trading, but foreign investment's interest in the Chinese stock market did not increase significantly.

Haitong Securities pointed out in the report that in the face of short -term macro fundamentals, the short -term foreign -funded attitude still takes time to verify. Long -term capital return may depend on the implementation of the stable growth policy and further repair the fundamentals.Morgan Stanley also said in a report last week that China is unlikely to become a shelter, and the uncertainty in macro aspects is the main obstacle.

It is worth noting that the second stage of the adjustment of the information disclosure mechanism of Shanghai -Shenzhen -Hong Kong Stock Connect will take effect next week. At that time, the Shanghai and Shenzhen Stock Connect will only announce the total transaction and total transaction pen, ETF transaction total amount, and the total amount of ETF transactions on the day after receiving the market daily.Wait, daily net inflow statistics will become history.