On August 1, the three major indices showed mixed performance. As of press time, the Shenzhen Component Index rose by 0.33%, while the ChiNext Index gained 0.41%. The CSI All Share Securities Companies Index (399975.SZ) fell by 0.22%. Among the index’s constituents, Hongta Securities rose over 2%, Huaxi Securities climbed more than 1%, BOC Securities increased by 0.66%, Jinlong Shares advanced by 0.56%, and SDIC Capital rose by 0.53%.
Regarding related ETFs, the Securities ETF (159841) experienced intraday fluctuations, with a trading volume exceeding 40 million yuan and a real-time premium rate of 0.07%. In terms of fund flows, the ETF recorded a net inflow of 30.96 million yuan on the previous trading day (July 31). Notably, despite two consecutive days of declines in the securities sector recently, funds showed a trend of "buying the dip." As of the previous trading day, the ETF had seen net inflows for four consecutive trading days, totaling 124 million yuan. As of July 31, the ETF’s latest circulating shares stood at 5.267 billion, with a circulating scale of 5.723 billion yuan.
On the news front, the Hong Kong Monetary Authority (HKMA) released the following documents on July 29 regarding the regulatory regime for stablecoin issuers, effective from August 1, 2025: Consultation Conclusions on the Regulatory Guidelines for Licensed Stablecoin Issuers and the guidelines; Consultation Conclusions on the Guideline on Anti-Money Laundering and Counter-Terrorist Financing (for Licensed Stablecoin Issuers) and the guideline; Summary of the Licensing Regime for Stablecoin Issuers related to the licensing system and application procedures; and Summary of Transitional Arrangements for Existing Stablecoin Issuers. The two sets of guidelines will be gazetted on August 1, 2025. With the regulatory regime officially taking effect, market participants should comply with the Stablecoin Ordinance and related guidelines.
The Securities ETF (159841) closely tracks the CSI All Share Securities Companies Index, which focuses on large-cap securities leaders in the A-share market, including both traditional securities leaders and fintech leaders. The Securities ETF (159841) is also paired with an offshore Securities ETF feeder fund (A: 008590, C: 008591).
Great Wall Securities pointed out that the market has remained active recently, with trading prices reflecting the benchmark replenishment effect of new public fund assessment rules and policy effects such as capacity reduction. Market liquidity has expanded, and margin trading volatility has reached new highs, with the securities and diversified financial sectors fluctuating upward. The firm judges that after August, domestic and international events will continue to enter a period of dense overlap, and grand narratives may be the key factor determining whether the market can strengthen further. Non-bank financial sectors, represented by securities firms, are expected to experience volatility breakthroughs.
(The institutional views in this article are from licensed securities institutions and do not constitute any investment advice, nor do they represent the platform’s views. Investors should make independent judgments and decisions.)
