In response, pan Helin, executive director of the Digital Economy Research Institute of Central South University of Finance and law, told Securities Daily that before the index adjustment, overseas investors have already bought the shares of these listed companies. After they are finally included in the list, some consulting targets will be adjusted, which leads to passive investors being forced to adjust their pre purchase in a short period of time Selling position. For investors, the stock transferred into the index, the good thing is that through the index, the initiative to buy more confidence. But investors still have to make investment judgment based on the specific situation of individual stocks. On the whole, it is a kind of thinking of taking over the market to include the index following trend. It is a kind of investment thinking to study the fundamentals of enterprises.
Although the expansion of the international index will be postponed in the future, the trend of foreign capital inflow is expected to continue, maintaining the judgment of the increase of foreign investment of 200 billion to 300 billion yuan in the year. In the long run, the A-share international capital allocation is still far from being matched. Even if the external uncertainty increases, the logic of foreign capital entering the primary stage will not change at all. Guosheng securities in the latest research report so expressed.
Based on the analysis of 22 stocks transferred into FTSE China a400 index, it is found that, on the one hand, the companys performance is generally good, the net profit of 16 companies in the first three quarters of 2020 will increase year on year, and the net profit of four companies including Zhengbang technology, ofiguang, kovos and Zhefu holdings doubled year on year in the first three quarters of 2020; on the other hand, institutions have piled up and settled in, and the top 10 shareholders of circulating shares of 8 companies have been established Social security fund, insurance capital and other institutions appear in the list. Among them, two stocks, including Shanshan shares and Yunan Aluminum Co., Ltd., are held by social security fund and insurance fund at the same time.
In addition to the recent active stock price performance, since this week, the market mainstream capital has also poured into related concept stocks for layout. Securities Daily reporter according to the statistics of flush data found that of the above 22 stocks, a total of 14 shares, showing a large net inflow of funds this week, a total of 979 million yuan. During the period of four stocks, such as Inspur information, meinian health, aerospace rainbow and Foton automobile, they were all scrambled by large single funds of more than 100 million yuan. During the period of 8 stocks, including Zhenhua Technology, torch electronics, Yuantong express, Hangyang, Zhefu holding, Shanshan, jinhuijiu and Ganli pharmaceutical, the net inflow of large single funds was also more than 10 million yuan, and the period of two stocks, including ofiguang and Zhengbang technology, was also increased It is favored by large single funds, and its future performance is worthy of attention.
The first time a shares entered the wealth market was in June 2019. After three expansion, the inclusion factor was raised to 25%. FTSE Russell once said that its final plan was to include 100% of a shares. Therefore, the direction of A-share opening to the outside world is certain, and the continuous entry of foreign capital can also boost market sentiment to a certain extent. Wang Xuan, chairman of Chengen capital, told the Securities Daily, the change of constituent stocks in the FTSE Russell index will take effect on December 18, which means that all passive capital inflows will be in place before December 18, which is good for the included stocks. Compared with the FTSE China a400 index, the FTSE China A50 Index deserves more attention. Many international investors regard this index as an important indicator to measure the Chinese market, and individual stocks in the index have no trading qualification and quota restrictions for qualified foreign institutional investors.
Table: a list of 22 stocks included in FTSE China a400 index