Industry insiders believe that the entry of science and technology innovation board stock into the mainstream index will not only increase the scientific and technological component of the index, but also bring more market representativeness. At present, the ETF tracking CSI300 in the whole market exceeds 120 billion.
Science and technology innovation board stock is included in Shanghai and Shenzhen 300 index
On the evening of November 27, the Shanghai Stock Exchange and the China Securities Index company jointly announced that the science and technology innovation board securities listed for more than one year already have the qualification to be included in the sample space of Shanghai Stock Exchange 180, Shanghai Shenzhen 300 and other component indexes, and can be included in the relevant indexes in the next periodic sample adjustment. The next regular sample adjustment will take effect on December 14, 2020. At that time, the Shanghai Stock Exchange 180, Shanghai Shenzhen 300 and other scale indexes are expected to appear for the first time, and the market representativeness of the indexes will be further improved.
On the reasons why the stock of science and technology innovation board is included in the mainstream indexes such as Shanghai and Shenzhen 300? The announcement said that since the stable operation of the science and technology innovation board market for more than one year, it has become an important part of Chinas capital market. Companies with different voting power structures, companies that have not yet made profits, and depository receipts issued by red chip enterprises have all been listed on the board smoothly. Kechuang 50 index has been running smoothly for more than a quarter, and has been widely recognized by the market. In order to further enhance the influence of the science and technology innovation board, introduce more medium and long-term funds, and provide investment channels for small and medium-sized investors, it is imperative to include the science and technology innovation board securities into the component index. A wide range of domestic and foreign market research shows that institutional investors have a positive attitude towards the selection of sci tech Innovation Board securities in Shanghai Stock Exchange 180, CSI 300 and other component indexes.
These stocks are included in the CSI 300 index
According to the news of China Securities Index Co., Ltd. on November 27, a few days ago, Shanghai Stock Exchange and China Securities Index Co., Ltd. announced that they would adjust the samples of Shanghai Stock Exchange 50, Shanghai Stock Exchange 180, Shanghai Stock 380, science and technology innovation 50, and China Securities Index Co., Ltd. also announced that samples of Shanghai Shenzhen 300, China Securities 100, China Securities 500 and China Securities Hong Kong 100 would be adjusted. The adjustment took effect on December 14.
Fund gentleman has a look, this time transfer into the Shanghai and Shenzhen 300 index of science and technology innovation board stocks, including LanChi technology, China Communications, medium and micro companies, voice holdings four.
In addition, 5 companies were included in the CSI 500 index, including RuiChuang micro nano, Nanwei medicine, hongruan technology, Jingchen Co., Ltd., and microchip; those included in the CSI 1000 index were Huaxing Yuanchuang, rongbai technology, Hangke technology, Guangfeng technology, Xinmai medical, Lexin technology, Anji technology, fangbang shares, Shanshi Wangke, Tianyi Shangjia, aerospace Hongtu, Shenlian biology, Sinochem and tiannaike 19 of them are technology, Western superconductor, Haier biology, Bachu electronics, haohaishengke and Jiayuan technology.
Fund Jun found that in addition to this, there are a number of sub industry indexes included in the science and technology innovation board stocks, including pharmaceutical biology, CS new energy car, CS computer, etc.
Add more technology to bring incremental capital
Fund Jun interviewed a number of fund company index investment professionals, they think that the science and technology innovation stock into the mainstream index is of great significance. It can not only improve index component stocks, but also bring more incremental funds for related stocks.
The index adjustment to join the stock market of science and technology innovation board is more than expected, which is of great significance. Adding the hard technology of science and technology innovation to the core index has improved the composition of Shanghai and Shenzhen 300 and other indexes, making the technology more meaningful. Shanghai a medium-sized fund company quantitative investment director said.
At the same time, he also believes that this will bring incremental funds to the stock of the science and technology innovation board included in the index. At present, there is a large amount of ETFs tracking CSI 300 and other indexes in the whole market, which will bring a lot of capital inflow to these stocks. However, due to the low proportion of the circulating market value of these stocks, the impact may not be so great at the beginning. At present, it is more significant to include the stock of science and technology innovation board into the index. When the ban is gradually lifted, the proportion will be more and more.
The director of quantitative investment of a large fund company in Shanghai also said that the inclusion of science and technology innovation board stock in the long-term is good for the Shanghai and Shenzhen 300 and other indexes, because there is more science and technology. At the same time, for the stock of science and technology innovation board, there are new funds, tracking the ETF fund of Shanghai and Shenzhen 300, almost more than 100 billion.
The director of quantitative investment of the above-mentioned medium-sized fund companies also said, after the index is included, we will definitely pay attention to our quantitative investment. However, since the initial circulating market value proportion is not very high, and these stocks are generally more expensive, the possibility of large-scale allocation is not very large from the perspective of index enhancement and absolute income.
The fund gentleman has a look, at present, there are 19 ETFs tracking the CSI 300 index, with a total scale of 126.7 billion yuan. The largest scale is Hushen 300etf of Huatai Bairui fund, with a scale of 38.155 billion yuan at the end of the third quarter of this year; there are also Huaxia 300etf fund and Jiashi 300etf, with the scale of 26.699 billion yuan and 23.075 billion yuan respectively at the end of the third quarter.
Science and technology innovation board shares will also be included in the scope of Shanghai Shenzhen Hong Kong stock connect
At the same time, the Shanghai Stock Exchange also issued a notice that the Shanghai Shenzhen Hong Kong Stock Exchange has reached a consensus on expanding the stock scope of the Shanghai Shenzhen Hong Kong stock connect, which will include the science and technology innovation board stock in the scope of the Shanghai Shenzhen Hong Kong stock connect in the future.
The Shanghai Stock Exchange said that previously, the Shanghai Shenzhen Hong Kong stock exchange had reached a consensus on the arrangement of listing shares of a + H shares listed on the science and technology innovation board into the stock scope of the Shanghai Shenzhen Hong Kong stock connect. Recently, the Shanghai Shenzhen Hong Kong stock exchange further negotiated and decided that if the stock of the science and technology innovation board company belongs to Shanghai Stock Exchange 180, Shanghai Stock 380 index component stock or a + H share company a share, the stock will be transferred into the stock scope of Shanghai Stock connect according to the existing provisions of the Shanghai Hong Kong stock connect, and its corresponding H shares will be adjusted into the stock scope of Hong Kong stock connect according to the existing rules of Shanghai Shenzhen Stock connect.
Source: Guo Chenqi, editor in charge of China fund daily_ NBJ9931