資金搶籌海外上市的中國資產ETF,KWEB、MCHI、FXI吸金
據高盛集團Prime Brokerage數據顯示,全球對衝基金正以6月底以來的最快速度買入中國股票。
高盛分析師表示,此次股票買入主要由多頭驅動,其次是做空回補,兩者比例約爲9:1。中國目前是8月以來Prime業務中淨買入最多的市場。
有資金搶籌海外上市的中國資產ETF。截至上週,過去一個月以來,KWEB、MCHI、FXI獲得資金流入。



KWEB是KraneShares旗下的中概互聯網ETF,主要投資於中國互聯網領域的公司。
MCHI爲海外規模最大的中國ETF之一,是跟蹤MSCI中國指數的ETF,主要投資中國A股和港股市場,涵蓋金融、消費、醫療等行業。
FXI爲紐交所上市的基金——中國大盤股ETF-iShares(FXI),跟蹤富時中國50指數,涵蓋了港股上市的市值最大、流動性最好的50只股票。
截至8月15日,FXI前十大重倉股包括騰訊控股、阿里巴巴、小米集團、建設銀行、美團、工商銀行、中國平安、比亞迪股份、網易、攜程集團。
EPFR數據顯示,截至7月底,全球主動管理公募基金對中國股票的持倉佔組合比例爲6.4%,處於過去10年的13%分位(過去10年中有87%時間高於此時),配置比例仍低於基準330個基點。
高盛在研報中表示,儘管海外投資者對中國股票的興趣明顯升溫,但其當前配置水平仍處於保守區間,這一顯著的配置缺口或爲市場後續上漲提供持續動能。
高盛中國股票策略分析師付思表示,國內最近各個方面的政策在一定程度上都是有利於股票市場的表現。最近更多的海外長線資金,包括養老金、長期全球配置的主動性資金,都在進一步溝通中國市場的投資的機會。分析師還指出,中國股市的大部分權重資產估值相較歷史水平仍處於低位,相比美股大型科技企業的高市盈率,A股藍籌股更具性價比,且企業盈利預期的改善將推動估值修復。
景順亞太區全球市場策略師趙耀庭稱:“我繼續看好中國證券資產前景,理由包括潛在的外資流入,國際地緣風險因素和關稅問題趨於穩定以及中國針對內卷式競爭推出的供給側改革。”
摩根士丹利也認爲外資持倉目前仍低配中國,有望進一步支撐中國市場的上漲。
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