MSCI is about to expand and new suspense will be announced next Friday
Source: Securities Times. According to official MSCI news, the results of the MSCI semi-annual index evaluation in November will be announced on November 8th (Friday), Beijing time, and the change can be made after the market closes on November 26th.
Following the usual plan, this will be the third time that MSCI will increase the A-share split ratio. It is expected that all Chinese large-cap A-share split factors in the index will be increased from 15% to 20%, while China’s mid-cap A-shares will be increased by 20%.Divide by the MSCI index.
With the further expansion of MSCI’s tolerances, the northbound capital that has been absorbed by the company has recently been swept up again, and the net purchase of A shares has reached a new stage.
1 The third expansion of A-shares in MSCI this year will reach the passive incremental fund “Living Water” is expected to be the highest ever. According to the official news of MSCI, the semi-annual index evaluation results in November were announced on November 8th, Beijing time. The change was on November 26th.Effective after closing.
This will be the last step in MSCI’s three-step expansion plan for A shares this year.
In March of this year, MSCI announced a capacity expansion plan to increase the relative factor of A shares in the MSCI global benchmark index from 5% to 20% in three steps. The specific timetable is as follows: Step: As a semi-annual index increase in May 2019As part of this, MSCI will increase the Chinese large-cap A-share segmentation factor from 5% to 10% in the index, while replacing the Chinese GEM large-cap A-share segment with a 10% segmentation factor.
Step 2: As part of the quarterly index growth in August 2019, MSCI will increase all Chinese market A-share segmentation factors in the index from 10% to 15%.
Step 3: As part of the semi-annual index growth rate in November 2019, MSCI will increase all Chinese large-cap A-share segmentation factors in the index from 15% to 20%, and at the same time increase the Chinese mid-cap A-share (includingEligible GEM stocks) divided by 20% inclusion factor by MSCI index.
Regarding the scale of funds that can be brought by the third step of expansion, the research report of Guojin Securities believes that due to the division of 北京男士会所 mid-cap stocks, the scale of passive incremental funds brought by this time will be the highest ever, which is expected to be 49.3 billion yuan.
The agency estimates that the passive incremental capital brought by the introduction of 20% of mid-cap stocks in November was about 21.2 billion yuan, and the increase of large-cap stocks from 15% to 20% brought about 28.1 billion yuan of incremental capital.
China National Securities believes that the transformation and opening up continue to advance, dividends further expand the international indexes, foreign exchange inflows will be the general trend, and become an important force to support the bottom of the market.
The agency believes that through the accelerated inflow of foreign countries, the proportion of foreign investment in a stock investor structure has increased rapidly.
According to statistics, from the perspective of the current market share of institutional investors, the maximum public offering ratio is 4.
52%; followed by insurance, accounting for 3.
79%; third is foreign, accounting for 3.
Consistent with the accelerated inflow of foreign exchange in the past two years, the proportion of foreign exchange has risen rapidly since 2016, and the gap with public offerings and insurance has narrowed rapidly.
It is expected that the proportion of foreign countries will further increase in the future.
The research of Industrial Securities pointed out that from the perspective of the structural impact of MSCI’s behavior on A shares, the marginal incremental capital impact of mid-cap stocks was more significant.
The agency believes that from a structural point of view, the ratio of MSCI divided by A-share large-cap stocks increased from 15% to 20% in November, while mid-cap stocks increased from 0% to 20% at one time.Added value particle size.
According to its calculations, in November, MSCI’s large-cap stocks and mid-cap stocks excluding A-shares accounted for 85% and 15%, but the incremental capital brought by large-cap stocks and mid-cap stocks was 57% and 43%, respectively.%.
Industrial Securities believes that from the perspective of the industry distribution of passive funds after further supplementation, pharmaceutical biotechnology, electronics, chemical, and computer metering amounts rank first, fourth, fifth, and sixth respectively. The amount of passively injected capital in growth industries isThere have been significant improvements during this release.
2On the eve of capacity expansion, Kitakami Capital accelerated the “scanning of goods” weekly net inflow reached a new high in the past two months!
With the expansion of MSCI, the scale of Beijing Capital’s net purchase of A shares has expanded significantly.
Data show that Kitakami Capital has made a net purchase for 7 consecutive trading days, and the net purchase amount on November 1 was as high as 74.
5 billion yuan.
In addition, this week the capital of Northbound Capital gradually reached 230.
2.0 billion, a new weekly net buying close to two months.
In fact, starting from June this year, the net purchase of Kitakami funds has accelerated overall. By October of this year, it had shown net purchases for five consecutive months, and the gradual net purchase amount since June had reached 1,719.
9.6 billion yuan.
Judging from the situation in the last month, the proportion of 670 shares of China Stock Connect that have held the total share capital has increased since October, accounting for about 53% of the total number of China Stock Connect Standards.
The shareholding ratio of individual stocks in the pharmaceutical biotechnology, electronics and other industries has increased.
In specific stocks, the proportion of shares held by Dashenlin, Haixing Power, Weir Shares, Xusheng Shares, Sofia, Center, and Vantage shares has increased.
For example, at the end of September, the proportion of shares held by Dashen Forest and Land Shares in the total share capital was 4.
8700%, increased to 8 at the end of October.
9500%, an increase of 4.
In terms of shareholding value, as of October 31, Guizhou Moutai was still the highest valued stock on the mainland, holding more than 110 billion yuan.Next are Ping An and Midea Group, each holding a stock market value of more than 60 billion.