CITIC Construction Investment: Margin financing funds have turned to inflow.

CITIC Construction Investment Research Report pointed out that on the micro funding side, 5.4 billion new shares were issued for equity funds, with a net outflow of -74.19 billion yuan for equity ETFs. Among them, the net outflow for innovation and entrepreneurship ETFs was about 18 billion yuan, and the net outflow for CSI 1000 and TMT-related ETFs was about 15 billion yuan; the net inflow for margin financing and securities lending was 31.4 billion yuan, accounting for 9.4% of the trading volume, which showed a slight increase compared to the previous period. The industries with the most inflows were mainly electronics, non-ferrous metals, and electrical equipment. In June, the number and scale of registered private securities investment funds increased compared to the previous month. From January to June 2026, insurance companies reported premium income of 3.86 trillion yuan, with a cumulative year-on-year growth of 3.2%. Southbound funds had a net inflow of 8.59 billion yuan, with a net inflow of 329.9 billion yuan since the beginning of this year.