Are the year-end rally and spring market frenzy for A-shares underway? What are the key investment themes? Insights from ten major brokerages’ strategies revealed.
Key Insights from the Latest Strategy Reports of the Top 10 Brokerage Firms and a Summary of Their Preferred Sectors.
ETF Market Wrap | A-shares Drop on Lower Volume, S&P Consumer ETF Rises 2.53%
Gelonghui December 2nd | The three major A-share indices collectively fell today. At the close, the Shanghai Composite Index dropped 0.42% to 3897 points, the Shenzhen Component Index fell 0.68%, and the ChiNext Index declined 0.69%. The total market turnover reached RMB 1.61 trillion, decreasing by RMB 282.2 billion compared to the previous trading day, with over 3700 stocks falling. The lithium battery industry chain led the declines, while innovative drugs, GPUs, robotics, photovoltaics, AI applications, semiconductors, and new energy vehicle concept stocks also experienced significant losses. In contrast, cross-strait integration, pharmaceutical commerce, and consumer electronics sectors showed resilience. Regarding ETFs, robust Black Friday consumption data in the U.S. drove the Invesco Great Wall Fund S&P Consumer Discretionary ETF up by 2%.
ETF Midday Review | Hong Kong dividend stocks lead gains, with the Hong Kong Dividend Low Volatility ETF and Hong Kong Stock Connect Dividend Low Volatility ETF rising over 1%.
Gelonghui December 2nd | The three major A-share indices collectively fell during the morning session. As of the midday break, the Shanghai Composite Index dropped by 0.55%, the Shenzhen Component Index declined by 0.77%, and the ChiNext Index fell by 0.88%. The half-day trading volume of the Shanghai, Shenzhen, and Beijing markets amounted to RMB 1.056 trillion, representing a decrease of RMB 180.7 billion compared to the previous day. Over 3,900 stocks in the entire market posted declines. In terms of sector performance, leading gains were seen in pharmaceutical commerce, Fujian-related stocks, Hainan Free Trade Zone, tourism and hospitality, AI mobile phones, real estate, and coal mining and processing sectors. Conversely, weakened performances were observed in lithium battery electrolyte, CRO (Contract Research Organizations), GPU (Graphics Processing Unit), rare earth permanent magnets, superhard materials, servers, robotics, and photolithography concept stocks. Regarding ETFs,
ETF Midday Review | Collective Rally in Hong Kong and Mainland Stocks, HK Stock Connect Non-Banking ETF and HK Stock Connect Technology 30 ETF Surge Over 3%
Gelonghui, October 21 | The three major indices of China's A-share market collectively rose in early trading, with the Shanghai Composite Index climbing 1.2% to surpass 3900 points and the ChiNext Index surging by 2.92%. The half-day trading volume of the Shanghai, Shenzhen, and Beijing markets reached 1.1632 trillion yuan, representing a decrease of 7.7 billion yuan compared to the previous day. Over 4,500 individual stocks across the market were up. Technology stocks continued to rebound, with strong momentum seen in Apple's supply chain, memory chips, and Co-Packaged Optics (CPO) concepts, while the deep-earth economy concept began to gain traction. Real estate, brokerage, and ultra-hard materials sectors performed notably well; however, dividend assets moved against the trend, with coal and civil aviation sectors declining. In the ETF sector, financial stocks in Hong Kong, led by insurance, posted significant gains, with Guangfa Fund’s Hong Kong stock offerings.
The Hong Kong Stock Connect Dividend Low Volatility ETF, Hong Kong Stock Connect Central Enterprise Dividend 50 ETF, and Dividend Hong Kong Stock Connect ETF have risen, indicating that capital indeed favors low valuations in the fourth quarter.
During every round of market volatility, dividend and low-volatility assets always come to mind. ETFs such as the Hang Seng Dividend ETF (Guangfa), Hang Seng Dividend Low Volatility ETF, Hang Seng SOE Dividend ETF (Southern), Hang Seng Central Enterprise Dividend 50 ETF, Dividend Hong Kong Stock ETF, Hang Seng Dividend ETF (Fullgoal), and Hang Seng Dividend ETF all rose over 1%. Recently, a new round of trade negotiations between China and the U.S. has impacted market expectations and sentiment. The technology sector, which was the main driver of this uptrend, experienced a pullback, and the impressive gains from earlier may need short-term consolidation. Market risk appetite has declined somewhat, and there may be a relative rotation towards value and dividend-focused sectors. From the recent movements of southbound capital, high-dividend sectors have become relatively prominent.
ETF Market Wrap | AI Application Stocks Lead Declines, Gaming ETF and Huatai柏瑞 Gaming ETF Fall 4%
Gelonghui, September 26th | The three major indices of the A-share market collectively fell today. By the close, the Shanghai Composite Index dropped by 0.65%, the Shenzhen Component Index fell by 1.76%, and the ChiNext Index declined by 2.6%. The total trading volume of the Shanghai, Shenzhen, and Beijing markets reached RMB 2.1661 trillion, a decrease of RMB 225.7 billion compared to the previous day. More than 3,400 stocks across the market ended lower. In terms of sector performance, leading gains were seen in wind power equipment, chemical fibers, agrochemical products, soybeans, textile manufacturing, and military equipment sectors; while significant declines were observed in gaming, computing hardware, lithography machines, and consumer electronics sectors. Regarding ETFs, the Bosera Fund All-Index Cash Flow ETF rose by 4.6%, with the latest premium/discount rate at 3.
Express News | CICC: The upward trend of the mid-term index has not yet ended.
Guotai Junan: Multiple factors are expected to support the continued performance of Chinese Assets, tactically overweighting A-shares, Hong Kong stocks, and U.S. stocks.
Guotai Haitong released a Research Report stating that the continuous improvement in market risk preference, coupled with the optimization of Capital Markets systems, is expected to continue supporting the performance of Chinese equities, further enhancing market risk preference.
In half a year, it has surpassed 1 billion! The size of the Hong Kong stock Huatai-PB CSI Dividend Low Volatility ETF (520550), which assesses dividends every month, has reached a new high.
According to Ge Longhui on July 23, the enthusiasm for Hong Kong dividend assets remains strong. Data shows that as of July 22, the only low-cost, monthly assessed dividend Huatai-PB CSI Dividend Low Volatility ETF (520550) has seen net inflow for 15 consecutive days, with its scale increasing for 21 weeks since March, surpassing the important threshold of 1 billion after being listed for six months. Data indicates that there has been continuous shareholding increase in dividend assets from the southbound investors. As of July 18, in terms of net inflow of All Market dividend ETFs, Hong Kong stocks totaled nearly 15 billion, while A-shares just exceed 9 billion. Benefiting from multiple factors such as valuation recovery, liquidity improvement, and increased shareholding by Institutions, the Hong Kong Huatai-PB CSI Dividend Low Volatility ETF (520550) has seen positive trends.
Monthly assessment of dividends! Hong Kong stock Huatai-PB CSI Dividend Low Volatility ETF (520550) has a dividend of 0.35% for July, with the rights registration on July 14.
Gelonghui, July 10 | On July 10, the Huatai-PB CSI Dividend Low Volatility ETF (520550) underChina Merchants Fund announced the July dividend assessment results, with a dividend of 0.04 yuan per ten shares and a dividend ratio of 0.35%, with the record date being July 14. According to information, the Huatai-PB CSI Dividend Low Volatility ETF (520550) tracks the Hang Seng SCHK High Dividend Low Volatility Index, focusing on high dividend yield + low volatility assets in the Hong Kong Stock Connect. In terms of the dividend mechanism, a monthly assessment dividend model is adopted, and this is also the third dividend since its establishment on January 15, 2025; in addition, this ETF supports T+0 trades with a comprehensive fee rate of 0.
ETF Closing Review | The Iron and steel sector and photovoltaic sector saw an increase in gains in the afternoon, with the Iron and steel ETF, leading photovoltaic ETF, and photovoltaic 50 ETF rising over 3%.
On July 2, Gelonghui reported that the three major A-share indices collectively fell today. By the close, the Shanghai Composite Index dropped by 0.09%, the Shenzhen Component Index fell by 0.61%, the GEM Index decreased by 1.13%, and the North Exchange 50 Index declined by 1.23%. The trading volume in the All Market reached 1,405.1 billion yuan, a decrease of 91.4 billion yuan compared to the previous day. Over 3,200 individual stocks in the All Market fell. In terms of sectors, photovoltaic, steel, aquaculture, sugar substitutes, coal, and Offshore Equipment saw notable gains. In contrast, sectors including computing hardware, semiconductors, military equipment, Brain-computer Interface, Digital Currency, and diversified finance experienced significant declines. In the ETF sector, steel stocks saw a rally in the afternoon, with the Guotai Fund Iron and steel ETF rising.
ETF Review | Hong Kong stocks in the innovative drugs sector have surged, with the Hang Seng Innovative Drugs Industry ETF rising over 4%, and the Hong Kong Innovative Drugs Industry ETF and Hong Kong Stock Connect Innovative Drugs Industry ETF both incre
On June 10, according to GeLongHui, the three major A-share Indices collectively fell in the afternoon. By the end of trading, the Shanghai Composite Index dropped by 0.44%, the Shenzhen Component Index fell by 0.86%, the GEM Index decreased by 1.17%, and the North Exchange 50 Index declined by 1.01%. The total transaction volume of the All Market was 1451.2 billion yuan, an increase of 138.6 billion yuan compared to the previous day. Over 4000 stocks in the All Market appeared in red. In terms of sectors, the port shipping, Yinhua CSI Innovative Drugs Industry ETF, Solid State Battery, and Soccer Concept sectors had the highest gains; while the military industry and semiconductor sectors had the largest declines. In terms of ETFs, the Hong Kong Innovative Drugs sector was strong throughout the day, with E Fund's Hang Seng Innovative Drugs ETF, Yinhua Fund's Hong Kong Innovative Drugs ETF, and others.
The "China Agricultural Construction" Listed in Hong Kong stocks have all reached a historic high! The dividend season on the Hong Kong stock market has arrived early, with China Mainland Banking stocks collectively rising.
① What impact does the early arrival of the dividend season in Hong Kong stocks have on the market? ② Why has short-term capital continuously flowed into "China Agriculture Bank" Listed in Hong Kong, which has reached a historical high?
Express News | Six consecutive rises are approaching historical highs! The Hong Kong Huatai-PB CSI Dividend Low Volatility ETF (520550) has its dividend registration today.