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Rare! This rural commercial bank is offering a 5-year fixed deposit interest rate of 1.5%, which is lower than the 1.55% level of state-owned banks. It is referred to as a "case" in the industry.
①Recently, Wuxiang Rural Commercial Bank adjusted the deposit execution interest rates, lowering the execution interest rates for personal fixed-term deposits of two years, three years, and five years to 1.5%, with the five-year execution interest rate being lowered below the lowest level of the state-owned banks' published rates. ②The phenomenon of the aforementioned rural commercial bank reducing rates beyond the mid- to long-term levels of state-owned banks is still considered an isolated case.
The net inflow of Meituan in the Hong Kong Stock Connect is 0.484 billion Hong Kong dollars.
There was a net inflow of funds from Beishui Nanshang into Meituan (03690.HK), Tencent (00700.HK), and Alibaba (09988.HK), reaching 0.484 billion Hong Kong dollars, 0.274 billion Hong Kong dollars, and 85.3 million Hong Kong dollars respectively. There was a net outflow of funds from Beishui Nanshang to CNOOC (00883.HK) and Mobvista (01860.HK), reaching 0.18 billion Hong Kong dollars and 24.85 million Hong Kong dollars respectively. The highest net capital inflow of the Hong Kong Stock Connect (Shanghai) was in Tencent (00700.HK) with 0.303 billion Hong Kong dollars, while the highest net capital outflow was in Xiaomi Group (01810.HK) with 87.3 million.
Northbound capital direction | Northbound trading net buy of 5.571 billion, local capital increased its position in Innovent Bio (01801) by nearly 0.3 billion, and all day selling of CM Bank (03968).
On November 20, in the Hong Kong stock market, northbound capital recorded a net buy of 5.571 billion HKD, of which the Shanghai-Hong Kong Stock Connect had a net buy of 3.013 billion HKD, and the Shenzhen-Hong Kong Stock Connect had a net buy of 2.559 billion HKD.
Banks' dormant account cleanup is gradually extending to corporate accounts. This rural commercial bank announced that it will clean up long-suspended accounts of units, and many other banks are also handling this.
On the morning of November 20, Jinchang Rural Commercial Bank announced that it will clean up and close some unit bank settlement accounts that have been inactive for a long time. Recently, some banks have adopted similar practices to Jinchang Rural Commercial Bank, including Dangyang Rural Commercial Bank, China Construction Bank Weifang Branch, Bank of Nanjing.
The unchanged LPR in November meets market expectations. Industry insiders do not rule out the possibility of further interest rate cuts next year along with the reverse repurchase rate.
① By the end of the year, the economic running is expected to continue its upward trend, with policy interest rates likely to remain stable and LPR quote also expected to stay unchanged. ② There is a high possibility of further reductions in deposit rates in the future, coupled with the issuance of special treasury bonds to support large state-owned commercial banks in replenishing their core tier one capital, which is expected to gradually alleviate the interest spread and operational pressure for commercial banks. It is possible that next year the LPR quote may be accompanied by further interest rate cuts on reverse repurchase agreements.
Right For Malaysia's Energy Transition To Include Nuclear
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