On September 28, the market underwent a full-day adjustment, with major indices collectively opening and trending lower. The Shanghai Composite Index fell 1.67%, the Shenzhen Component Index dropped 3.44%, and the ChiNext Index declined 4.53%.
However, trading activity in the ETF market remained robust, with capital flows showing significant structural divergence. Wind data shows that six ETFs exceeded 10 billion yuan in single-day turnover.
Short-Term Financing ETF Haitong (511360) led the way with a single-day turnover exceeding 75.2 billion yuan. Although its secondary market trading price edged up just 0.01%, its high turnover rate of 89.51% and estimated scale of 84.052 billion yuan made it a veritable giant.
Yinhua Rili ETF (511880) and Huabao Tianyi ETF (511990), the two traditional money market ETF heavyweights, ranked second and third with turnovers of 35.579 billion yuan and 19.870 billion yuan, respectively.
Corporate Bond ETF Nanfang (511070) recorded a turnover of 11.937 billion yuan today, Sci-Tech Innovation Bond ETF Huaxia (551550) saw 10.917 billion yuan, and Credit Bond ETF Huaxia (511200) traded 10.453 billion yuan.
ChiNext ETF E Fund (159915) had a turnover of 7.971 billion yuan, declining 0.153%.
STAR Market 50 ETF Huaxia (588000) reached a turnover of 7.578 billion yuan today, but due to the pullback in technology stocks, its price dipped slightly with a turnover rate of 8.30%.
China-Korea Semiconductor ETF Huatai-PineBridge (513310) had a turnover of 6.063 billion yuan, with a turnover rate as high as 50.89%, while its price dropped 1.71%. The combination of high turnover and price decline indicates significant capital divergence and intense trading within the sector.
Market analysts noted that as an important tool for on-exchange liquidity management, the massive turnover of short-term financing ETFs is often closely related to short-term position adjustments by institutional funds, risk-averse sentiment, and fluctuations in the funding market at quarter-end and year-end. Such a high turnover rate suggests that this product is not only a allocation tool but has also become the preferred instrument for institutional funds engaging in short-term trading and cash substitution.