Which industries saw the largest active increases?

  • By secondary industry, joint-stock banks saw active increases of 19 billion yuan in the third quarter, and large state-owned banks saw 14.4 billion yuan, ranking first and second respectively. City commercial banks ranked fifth, with 9 billion yuan in active increases.
  • Healthcare services ranked third with 10.2 billion yuan in active increases, while the securities industry ranked fourth with 9.9 billion yuan. In the report, increases were broad across banking subsectors: the share of stocks with active increases was 100% for both large state-owned banks and city commercial banks, and 89% for joint-stock banks.

Which individual stocks saw the largest increases?

  • Among individual stocks, Zijin Mining, China Merchants Bank and WuXi AppTec ranked in the top three, with active increases of 9.8 billion yuan, 8.5 billion yuan and 7 billion yuan respectively. The market value of northbound holdings in the three rose by 15.3 billion yuan, 15.3 billion yuan and 19.3 billion yuan respectively from the previous quarter.
  • Bank stocks accounted for a substantial share of the list. Besides China Merchants Bank, Ping An Bank, Industrial and Commercial Bank of China and Bank of Communications saw active increases of 5.3 billion yuan, 4.1 billion yuan and 3.9 billion yuan respectively.

Why can't changes in the market value of holdings be treated directly as increases or reductions in positions?

  • The report divides quarter-on-quarter changes in the market value of holdings into active and passive components. The market value of healthcare services holdings rose by 25.3 billion yuan, comprising 10.2 billion yuan in active increases and 15.1 billion yuan in passive gains.
  • The securities industry showed a different pattern: active holdings increased by 9.9 billion yuan, but the passive component fell by 7.3 billion yuan, so the market value of holdings rose by only 2.5 billion yuan quarter on quarter. The 100 million yuan difference between the sum of the two components and the total change is due to rounding of figures in the table.

Which individual stocks were reduced at the same time?

  • CATL saw an active reduction of 33.9 billion yuan in the third quarter. The market value of northbound holdings fell by 118.3 billion yuan quarter on quarter, including a 84.4 billion yuan decline in the passive component; the fall in market value exceeded the active reduction.
  • Eoptolink and Naura Technology saw active reductions of 14.5 billion yuan and 13.9 billion yuan respectively, while the market value of holdings fell by 30.2 billion yuan and 37.3 billion yuan respectively quarter on quarter. Alongside increases in bank holdings, some communications equipment and semiconductor stocks also saw active reductions.