
The stock indexes adjusted collectively this week. The total net outflow of stock ETFs and cross-border ETFs in Shanghai and Shenzhen stock exchanges was 14.937 billion yuan, the net outflow of broad-based index ETFs was 1.164 billion yuan, and the net outflow of industry theme ETFs was 15.6 billion yuan. Shanghai stock index falls for 4 consecutive weeks

Different from the market situation on April 7, 2025, this time the bottom-hunting funds were deployed decisively and steadily, with a net inflow of 7 billion yuan in stock ETFs in a single day. Observed from the perspective of the 5th, the cumulative net inflow of the CSI A500 Index reached 36.71 billion yuan.

* Sources of reference materials for institutional views: ① Galaxy Securities' strategy research on March 3, 2026 "The "Positive and Negative Hands" of A-share Market Fluctuations and Investment Outlook"; ② Ping An Securities' March 3, 2026 strategic allocation research "Capitalizing the cyclical price increases and technological manufacturing that are supported by the boom"

In the announcement of changes on the evening of the 3rd, the "three barrels of oil" (CNOOC, PetroChina, and Sinopec) all stated that the recent international crude oil market has been affected by multiple factors such as the geopolitical situation and the supply and demand pattern, and prices have shown a wide range of fluctuations.

The cryptocurrency market is experiencing another surge this week. On May 20, Bitcoin rose to US$71,705.47 in North American night trading, regaining US$71,000, a cumulative increase of approximately 68.59% compared to the beginning of the year.