4月21--25日大盘资金流情况

<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt; TEXT-INDENT: 24pt; mso-char-indent-count: 2.0"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">中石油终于如大家期望地破发了，指数一度跌破</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt">3000</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">，管理层迫于压力出手，但是是为了救市还是为了表态目前暂时没办法判断，减持意见出台后</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">市场还在空头气氛中，周二甚至创新低破了</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt">3000</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">点。<SPAN lang=EN-US style="FONT-SIZE: 12pt">24</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">日印花税下调至</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt">0.1%</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">的消息让整个市场完全沸腾，沪深指数创近七年来最大涨幅接近涨停，周四、五成交量均超过</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt">1900</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">亿。沪指全周累计上涨</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt">638</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">点，收</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt">3557</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">点；深成指上涨</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt">1812</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">点，收</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt">13104</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">点。各板块呈现普涨格局，券商股作为最大受益者表现最为突出。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><?XML:NAMESPACE PREFIX = O /><O:P></O:P></SPAN></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt; TEXT-INDENT: 24pt; mso-char-indent-count: 2.0"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">而本</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">周末利好出台后，下周基金会不会趁此机会积极出货，因为23、24日沪市机构资金净流出</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt">74.6</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">亿。</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">本周沪深指数表现跌宕起伏，相对于这种波动，本周机构资金只能当配角。大智慧</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt">topview </SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">显示，近期大盘机构资金总体先抑后扬，截止</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt">4</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">月</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt">23</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">日前的</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt">5</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">个交易日大盘机构资金累计小幅净流出</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt">2</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">亿，机构持仓从</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt">18.036%</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">，降至</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt">17.971%</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt">TOP</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">席位追踪显示，期间基金总成交</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt">846</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">亿，买入</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt">393</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">亿，净卖出</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt">79</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">亿；而保险资金</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt">5</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">个交易日成交</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt">65</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">亿，资金净流出</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt">13</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">亿，此外，</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt">QFII</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">资金继续净流入</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt">43</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">亿。不过，近期的机构资金进出情况应分成两个时段统计，其中，</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt">4</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">月</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt">17</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">日、</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt">18</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">日、</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt">21</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">日三个交易日机构净流出</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt">86</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">亿，而</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt">22</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">、</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt">23</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">日机构资金净流入</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt">84</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">亿。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><O:P></O:P></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt; TEXT-INDENT: 21pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt; COLOR: #333333"><O:P> </O:P></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">主流板块资金流向观察，金融、煤炭两大权重板块在</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt">5</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">个交易日中资金均大幅净流入，分别为</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt">62</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">亿、</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt">20</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">亿。其中</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt">4</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">月</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt">23</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">日金融板块机构资金净流入达</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt">54</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">亿，占大盘总净流入资金的</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt">77%</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">，这一现象与</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt">4</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">月</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt">2</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">日机构资金流向如出一辙，该板块中</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt">23</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">日建行、平安、工行、招行等指标股资金净流入约</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt">39</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">亿。此外，钢铁、地产两大板块在前</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt">4</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">个交易日分别净流出</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt">17</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">亿、</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt">10</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">亿后，</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt">23</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">日机构资金出现合计</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt">11</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">亿净流入，而电力板块期间资金进出总体维持平衡。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><O:P></O:P></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt; TEXT-INDENT: 18pt; mso-char-indent-count: 1.5"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><O:P></O:P></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt; TEXT-INDENT: 18pt; mso-char-indent-count: 1.5"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">综合分析发现，印花税调整前期除</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt">QFII</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">资金持续净买入合计</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt">180</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial">亿外，基金、保险两大主力均无异常举动，总体保持了做空风格。考虑到本周最后两个交易日的成交天量，其中基金如何动作有待下周分解。</SPAN></P>
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