MSCI’s biggest increase in A shares during the year will be fulfilled tomorrow
Original title: MSCI’s biggest increase in the year A will come into effect tomorrow Source: Securities Daily News reporter Meng Ke On November 8, the international index MSCI announced that the proportion of large-cap stocks will increase from 15% to 20%The 20% ratio is divided for the first time.
This is the third time that MSCI increased its A share weight in May and August this year, and this is the third increase in A share weight during the year.
The promotion of A’s re-launch was officially effective after the close on November 26.
Suning Financial Institute’s special scientist He Nanye told the Securities Daily reporter that according to the previous two MSCI estimates of the scale of funds brought by the A share re-allocation, MSCI’s three appreciation of A-share weight will bring about US $ 300 billion in overseas growth.This is the largest incremental capital inflow in the year.
According to CICC ‘s earnings, this MSCI is expected to bring about 250 billion to 300 billion US dollars of incremental funds to the A-share market after the A-share weight increase, which is equivalent to the increase in equity weight in May and August this year.The inflow of funds increased by about 50% to 70%.
”Based on the good foundation of the previous two upgrades of the A share redistribution, the capital invested in this A share upgrade will further expand the investment scale and dimensions. This translates into the fact that a stock that has not gone out of the good market in the previous period will gradually be dug out to helpPush the creation of new attractions and attractions stocks.
He Nanye said.
”From the perspective of MSCI’s process of continuously increasing the weight of A shares, it has gone through 4 stages, which will have a boost effect on A shares in the short term.
“Zhanshan Securities Chief Economist Li Zhan told the Securities Daily reporter that in stages: On June 1, 2018, A shares were replaced by MSCI for the first time with a replacement factor of 2.
5%, the market has continued to grow for three trading days since then, and a month after the change in the proportion, the net inflow of funds to the north gradually increased to 274.
7.5 billion yuan; On September 1, 2018, the A-share divisor coefficient was increased to 5%. One month after this change, the net inflow of funds from Beijing to the north gradually increased to -7.
6.4 billion yuan; On May 28, 2019, the dividend factor was increased to 10%, and a gradual net inflow of funds to the north was 380 after a change.
14 trillion; On August 27, 2019, the A-share division coefficient was increased to 15%. After a month of change, the net capital of the Northbound Group was converted to 683.
1.3 billion yuan.
Talking about the MSCI’s increase in A’s equity, one of the boards will benefit, He Nanye believes that from the previous investment funds of the Northbound Capital, overseas funds are more inclined to leading companies with stable profits and abundant cash flows.
In fact, at the end of the year, the capital market’s investment style has changed in the same way as in previous years. Banks, real estate, infrastructure and other stocks have become the focus of institutional allocation.
Therefore, in view of the combination of the two, this time the weight of A shares will be increased, and the excess will focus on computer communications, large consumption, medical health, financial real estate, infrastructure and other stocks. These sections will be replaced first.
“The MSCI index has increased the investment value of domestic long-term institutional investors, such as the incremental and retirement benefits brought by A. The investment target has a high degree of overlap. Its stock selection standards and investment philosophy will profoundly affect the A-share market and its qualityListed companies are prone to stand out. On the whole, the internationalization and institutionalization of the A-share market will have a relatively long-term impact, which will help the capital market optimize resource allocation and promote the maturity of the A-share market.
Li Zhan said.
With the continuous injection of overseas funds, the internal capital market should also improve the following reorganizations. Li Zhan said that the reorganization will further promote the deepening 成都桑拿网 reform of the capital market and expand the interconnection of internal capital markets; gradually, it is necessary to strengthen the construction of the regulatory system for the A-share marketTo avoid foreign impact on China’s securities market and effectively prevent financial risks.