CICC: Public funds increased holdings in communications, chemicals, and power equipment in the first quarter, while reducing holdings in non-ferrous metals and electronics.

CICC research reports indicate that public funds increased their holdings in communications, chemical industry, and power equipment in the first quarter, while reducing positions in non-ferrous metals and electronics.

Among the sectors with increased holdings, the communications industry, which is more hardware-focused on the AI industry chain, saw the largest increase, with a 2.1 percentage point rise in allocation. Within the sub-sectors, communications equipment saw a relatively larger increase in holdings.

Amid geopolitical conflicts, basic chemical industry, power equipment, petroleum and petrochemicals, and coal—benefiting from higher energy prices, supply substitution, and an improved share of domestic exports—were also increased by 1.1, 1, 0.6, and 0.3 percentage points, respectively.

Earlier adjustments had been relatively sufficient, and with more positive catalysts recently, the biopharmaceutical sector increased its holdings by 0.5 percentage point in the first quarter.

In terms of sectors with reduced holdings, electronics and non-ferrous metals—both of which had previously seen significant gains and increased holdings—were cut by 1.8 and 1.3 percentage points, respectively, in the first quarter.

(People’s Financial News)