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Can technology stocks lead the gains? Here are 4 big signals

Can technology stocks lead the gains? Here are 4 big signals
The “group pet” area of technology stocks can be said to be more and more consolidated!Last week, the fund increased its position in the TMT sector again, and most of the top companies in the research are also technology stocks.  On February 17, the turnover of several technology-themed ETFs exceeded US $ 1 billion again, and ETFs such as semiconductor themes and 5G themes ranked among the top gainers in the week.At the same time, related science and technology theme funds have become popular recently. A large number of incremental funds have helped to enter the market quickly, and two cloud computing theme ETFs have also been declared!  The 4 major signals consolidate the “group favorite” part of technology stocks. The fund’s TMT Everbright Metalwork calculations show that the average positions of stock funds and partial stock hybrid funds increased again last week on February 14, reaching 92, respectively.2%, 89.73%.From the perspective of adding positions, the proportion of TMT allocation continues to rise.  Tianxiang data shows that from the end of last year, the technology supplement stock is not a small number of the top 50 stocks held by the fund, especially software and services, components and other information technology sectors.After the Spring Festival, the ChiNext took off after squatting, and technology stocks became more and more consolidated.  2. Institutional research and technology stocks The enthusiasm of institutional research and technology stocks rose last week.According to Choice data, since Monday, a total of 85 listed companies have been investigated by institutions. Most of the top rankings are computers and electronics companies, such as Weining Health, Guanglianda, Guoxing Optoelectronics, etc.Yaguang Technology topped the list with more than 200 research institutions.  3. The enthusiasm for trading in technology-themed ETFs has burst since Monday. As of February 17, the trading volume of technology-themed ETF funds has continued to rise.Among the industry ETFs, except for Cathay Securities China Securities Index ETF, the turnover of the ETF ranked first, followed by Cathay Pacific CES Semiconductor ETF and Huaxia Guozheng Semiconductor Chip ETF.  According to the transaction situation on February 17, the turnover of Cathay Pacific CES Semiconductor ETF, Huaxia Guozheng Semiconductor Chip ETF, and Huaxia CSI 5G Communication Theme ETF all exceeded US $ 1 billion, which is one of the most popular industry ETFs.Huaxia Guozheng Semiconductor Chip ETF was listed and traded on February 10.  According to data from the Galaxy Securities Fund Research Center, the net net replacement of ETF funds on February 17 was 12.Of the 3.9 billion US dollars, there are only two industry-themed ETFs in the top five ETF funds, namely Cathay CES Semiconductor ETF, and Guolian CSI refers to semiconductor products and equipment ETFs, with net inflows of 1 respectively.4.6 billion yuan, 1.2.8 billion.  From the perspective of the weekly rise and fall, as of February 14, among the top 20 ETF products, these two ETF funds rose more than 7% and 5%, respectively. In addition, China Semiconductor 杭州桑拿网 Securities ETF, China Securities5G communications-themed ETFs also rose more than 4%.  4. Technology theme funds will follow in the near future. Huaxia Fund and Yifangda Fund have reported two cloud computing theme ETFs: Yifangda CSI Cloud Computing and Big Data Theme Trading Open Index Securities Investment Fund, Huaxia CSI Cloud Computing and Big Fund.Data theme trading open index securities investment funds.  In terms of issuance, on February 19th, China Life Security Guozheng GEM Mid-Market Select 88ETF will be officially issued.The proposed fund manager Li Kang said that the China Securities Index GEM Mid-Market Select 88 Index tracked by the fund reflects the performance of mid-cap growth stocks with solid financial conditions in the GEM market, with a high proportion of technology stocks in constituent stocks.  The market’s 杭州桑拿 support for technology-themed funds is the most practical support.Last week, China Merchants Technology Innovation Hybrid, Winwin Technology Driven Hybrid, Jianxin Technology Innovation Hybrid all created a “explosive style” style, and tens of billions of new capital contributed to rapid market entry.  Where is the future value of technology stocks?  The Macro Policy Department of GF Fund believes that the CSRC has introduced new refinancing rules, which have reduced the refinancing conditions for the GEM, relaxed the pricing mechanism for non-public offerings, changed the lock-up period for non-public offerings, and lifted restrictions on non-public offering reductions.On the whole, the introduction of new regulations on refinancing is more conducive to the market value style of small and medium-sized enterprises and the growth of science and technology.  Wells Fargo Fund stated that three major reasons are optimistic about the growth industry represented by technological innovation and believe that there is still room for improvement in the future: First, the poor performance of GEM relative to CSI 300 has trended upward since the second quarter of 2019, and recentlyAffected by the new crown epidemic, the short-term profitability of industries that are relatively sensitive to macroeconomics on the main board may be dragged down, which may further expand the relative performance advantage of growth stocks; second, switching 5G to drive a new round of science and technology cycle and M & A and restructuring policiesContinued easing, the risk of growth stocks is expected to increase further. Third, the liquidity scale, the layout of overseas negative interest rates continue to be wasted, domestic policy space is transmitted, and “reducing physical financing costs” is still one of the main goals of current monetary policy.