pennbattle37000| Is the market ebbing? Nonferrous metals leading ETF (159876) fell more than 3% intraday, fell below the 20th line, and funds reversed to increase positions. What happened? What do you think of the market outlook?

Early this morning (May 23)Pennbattle37000The minutes of the Federal Open Market Committee's April FOMC policy meeting released by the Federal Reserve showed that the Fed was disappointed with the recent inflation data and was willing to consider raising interest rates again if it did not cool further. In addition, David Solomon, CEO of Goldman Sachs, said that the Fed will not cut interest rates this year.

Or under the influence of the Federal Reserve's eagle release, the non-ferrous metals sector fell across the board, and the China Securities Nonferrous Metals Index, which took the lead in the non-ferrous metals industry, was almost wiped out, with 59 of the 60 stocks floating green, of which copper and cobalt stocks led the decline.

Non-ferrous leading ETF (159876), which closely tracks the CSI non-ferrous metals index, has fallen for two days in a row, and intraday prices fell more than 3% again today, losing the 20th line.

I have previously introduced several major factors for the rise of the non-ferrous metal plate:

① international geopolitical conflict, dollar decentralization, central banks increasing gold reserves, precious metals risk aversion highlighted.

② from the perspective of supply and demand, supply is disturbed and the overall supply falls short of demand.

③ benefits from the resumption of real estate work, the popularity of low-level economy, AI terminals to accelerate the process of innovation, and so on, along with the development of various industries, good raw materials non-ferrous metals.

Market analysts say that the upward logic of non-ferrous metals is medium-and long-term logic, and these factors may not change quickly because of some emotional factors. or the investment value of the non-ferrous metals sector can be viewed in a longer dimension of strategic investment layout.

It is worth noting that in the nearly two consecutive trading days of decline, funds continue to fall into the market layout. Shenzhen Stock Exchange data show that non-ferrous leader ETF (159876) nearly 5 days total inflow of 4.88 million yuan.

In terms of funds, northward funds continue to distribute the non-ferrous metal plate, increasing the position by 371 million yuan yesterday and attracting 21% of the money weekly.Pennbattle37000200 million yuan, all among the 31 TOP5 industries with a monthly income of 5.903 billion yuan, ranking third in the industry, reflecting that "smart money" continues to be optimistic about the future performance of the non-ferrous metals sector.

According to public data, according to the caliber of Shenwan's third-tier industry, copper, aluminum and gold are the top three major industries in the CSI non-ferrous metals index tracked by ETF (159876), accounting for 24.1%, 16.7% and 14.7% respectively, accounting for more than 50%. It is expected to benefit from the rally in gold, as well as from the commodity rally cycle.

Sources of data and charts: Wind, Shanghai and Shenzhen exchanges, Warburg Fund, etc.

Note: the rise and fall of the CSI Nonferrous Metals Index in the past five complete years is: 2019, 24.48%; 2020, 35.84%; 2021, 35.89%; 2022,-19.22%; 2023,-10.43%.

Risk tip: non-ferrous leading ETF (159876) passively track the CSI non-ferrous metals index (930708.CSI), the index base date is 2013.12.31, the release date is 2015.7.13, the composition of index stocks is timely adjusted according to the rules of the index, and its historical performance does not predict the future performance of the index. In this article, the index stocks are only shown, and the individual stocks are not described as any form of investment advice, nor do they represent the position information and trading trends of any fund under the manager. The risk level of the fund assessed by the fund manager is R3-medium risk, suitable for balanced (C3) and above investors, the appropriate matching opinions should be based on the sales organization. Any information that appears in this article (including but not limited to individual stocks, comments, forecasts, charts, indicators, theories, any form of expression, etc.) is for reference only and the investor is responsible for any discretionary investment behavior. In addition, any point of view, analysis and forecast in this article does not constitute any form of investment advice to the reader, nor is it liable for direct or indirect losses arising from the use of the contents of this article. Fund investment is risky, the past performance of the fund does not represent its future performance, and the performance of other funds managed by fund managers does not constitute a guarantee of fund performance, so fund investment should be cautious.