BEIJING, June 24 (Xinhua) -- Exchange traded funds (ETFs) listed on Shanghai and Shenzhen bourses absorbed 10.539 billion yuan of funds last week, reported Xinhua Finance on Monday.
Among them, four broadly-based ETFs were bet on by big stock buyers in the afternoon trading session on June 21 in an effort to seek fortune in future A-share market rally.
The four ETFs altogether embraced 8.245 billion yuan of net fund inflows in last week when the benchmark SSE Composite Index weakened to 2,998.14 points by closing on June 21.
Industry experts attributed the hefty fund influx into broadly-based ETFs to entering of big stock buyers who preferred investing in ETFs tracking the CSI 300 Index and SSE 50 Index last week.
In aggregate, 33 billion yuan of capital flew into A-share ETFs in the first three weeks of June, with those tracking the CSI 300 Index, SSE Science and Technology Innovation Board 50 Index and CSI A50 Index particularly favored by investors.
In future, downward corrections of A-share market are expected to be limited after July as China's industry and macro-economic data is likely to rebound, said the report citing analysts with a research team of China Asset Management Co., Ltd.
(Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)
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