Hong Kong stocks are soaring! It feels a bit like the Hong Kong drama "The Greed of Man", who is buying?
Hong Kong stocks have outperformed the major country indexes such as Europe and the United States large cap indexes.
Hong Kong A shares are collectively active! A-share trading volume exceeded 1 trillion in 35 minutes. How do you view this round of "policy big gift package"?
After 35 minutes of trading, the trading volume in Shanghai, Shenzhen, and Beijing has exceeded 1 trillion yuan, up over 400 billion yuan from the previous trading day's volume, with Shanghai's trading volume at 439.2 billion yuan, Shenzhen's at 557.9 billion yuan, and Beizheng 50's at 5.9 billion yuan, breaking the fastest trillion-dollar record in history.
Five major state-owned banks announced: Existing home loan interest rates have been lowered, with detailed measures to be released on October 12th! Shanghai and Guangzhou introduce new real estate policies again.
The People's Bank of China released an announcement on September 29th, improving the pricing mechanism for commercial individual housing loans, allowing existing housing loans that meet certain conditions to be renegotiated in terms of point increments, promoting the reduction of existing housing loan interest rates.
After the announcement of the new round of interest rate reduction for existing house loans, China Construction Bank is actively promoting new housing loans! Targeting the Golden Week, many branches of state-owned banks are also taking action.
1. ABC Bank took the lead in deploying the National Day housing loan discount promotion during the traditional Chinese lunar calendar month of September and the tenth lunar month, becoming the first state-owned large bank to launch this activity after the official announcement of the adjustment of existing housing loans. 2. In addition to ABC Bank's nationwide mortgage marketing activities, some local branches and sub-branches of state-owned large banks are also taking action. 3. Despite facing pressure from the adjustment of existing housing loan interest rates, mortgage loans, as high-quality credit assets, have always been a battleground for various banks.
The central bank has launched two measures at the same time! The reserve requirement ratio is reduced by 0.5 percentage points, and the 7-day reverse repurchase operation interest rate is lowered by 20 basis points.
Starting from September 27, 2024, the reserve requirement ratio for financial institutions is reduced by 0.5 percentage points. After this reduction, the weighted average reserve requirement ratio for financial institutions is approximately 6.6%.
Interbank certificate of deposit quota is in urgent need! Some banks are already below 5%, and it may ease in the fourth quarter.
① The balance of certificates of deposit from the six major state-owned banks accounts for 82.04% of the quota in 2024, while the balance of certificates of deposit from joint-stock banks accounts for 68.75% of the quota in 2024. ② The supply of government bonds in the fourth quarter will significantly decrease compared to the third quarter, and the scale of interbank certificates of deposit maturing will also decrease significantly.
Double benefits! The central bank's financial policy + the Fed's interest rate cut, high-interest large financial stocks are making a comeback.
As the saying goes, buying stocks means buying companies, sharing the company's profits and growing together with the company. The dual benefits of financial policy + interest rate cuts still have a strong logic for banks and insurance stocks to receive both financial benefits and dividends.
The central bank responds that the 'transfer mortgage' will initially start from this bank, industry insiders expect new mortgages to replace old mortgages, with limited impact on the existing market.
The main reason for emphasizing the "initial implementation of internal transfer mortgage within the bank" is that the current existing housing loans are still high-yield, low-risk quality assets for banks. Allowing interbank transfer of mortgages will intensify competition among banks, which is not conducive to the stability of the mortgage market. Banks are expected to negotiate with customers to sign a new mortgage contract to replace the original mortgage.
The existing-home loan interest rate is about to be reduced by 50 basis points! Industry insiders: It can effectively curb the trend of early repayment, and under the pressure of interest rate differentials, deposit rates will be further reduced.
1. The central bank announced that it will guide commercial banks to reduce existing mortgage rates to be close to the rates of new mortgages, with an average reduction of about 0.5 percentage points. 2. It is expected that the loan prime rate (LPR) and deposit rates will symmetrically decrease.
The reduction in reserve requirements is bullish and stimulating, the Hong Kong stock market's ten consecutive days of rising momentum is unstoppable! Multiple sectors are collectively surging, is the bull market here?
Affected by this news, the Hang Seng Index, the Hang Seng Technology Index, and the Hang Seng China Enterprises Index all rose by more than 2%, with the Hang Seng Index expected to challenge a "ten consecutive gains".
Major announcements on the real estate market and stock market were made by one line, one bureau, and one association.
1. The central bank: reducing the reserve requirement ratio, lowering the interest rate on existing housing loans; creating special refinancing to guide banks to provide loans to listed companies. 2. The China Banking and Insurance Regulatory Commission: will strengthen the core Tier 1 capital of 6 large commercial banks; reveal three optimization policies for the renewal of loans for small and micro enterprises. 3. The China Securities Regulatory Commission: will issue opinions on promoting the entry of medium and long-term funds into the market and six measures to promote mergers and acquisitions; support the China Investment Corporation in increasing its shareholding in the capital markets.
Capital markets are getting a fresh boost! The central bank has set up a special refinancing facility for securities, funds, insurance companies to facilitate share buybacks and shareholdings, which can only be used for investing in the stock market.
1. Establish convenient exchanges between securities, funds, and insurance companies, support eligible securities, funds, and insurance companiess to obtain liquidity from the central banks through asset pledge, which will significantly enhance their funding and shareholding capabilities; 2. Establish a special re-lending facility for share repurchases and shareholdings, encourage banks to provide loans to listed companies and major shareholders, and support share buybacks and shareholdings.
Multiple bullish factors are coming! CM Bank rose more than 4%, leading the banking stocks. The central bank announced a reserve requirement ratio cut, and the country plans to increase capital for six large commercial banks.
The banking sector is strong, as of the deadline, cm bank rose by 4.36%, to HK$32.3; bank of communications rose by 3.27%, to HK$5.690; industrial and commercial bank of china rose by 2.48%, to HK$4.55; postal savings bank of china rose by 2.31%, to HK$4.42.
Rate cut! After a 2-month cut in the 7-day reverse repurchase rate, the 14-day reverse repurchase rate was cut by 10 basis points today. How significant is the impact?
①The policy rate will be based on the 7-day reverse repurchase rate. ②Since the news of the adjustment of existing home loan rates has been circulating for two weeks, there has been no official denial. Moreover, the market has been calling for it quite strongly, and the majority of market institutions believe that formal action and implementation are just a matter of time.
There is no urgent need for a short-term reduction. The September LPR quote remains unchanged, and the industry expects the main policy interest rates to be lowered to promote LPR adjustments within the year.
① The main reason for the stable LPR interest rate in September is the large pressure on banks' net interest margins, and the policy rate (7-day reverse repurchase rate) remains unchanged. ② Taking into account the current economic situation and price trends, the central bank is likely to lower the main policy rate in the fourth quarter, that is, the 7-day reverse repurchase rate, with an estimated downward adjustment of 10 to 20 basis points, which will guide LPR quotes to follow suit.
The Federal Reserve has finally started an interest rate cut cycle, and a global interest rate cut wave is coming. Is Southeast Asia the biggest winner?
The Fed has signaled a more accommodative stance toward the central banks of emerging markets that have not yet begun to cut interest rates, as there is more room for central banks in Southeast Asia to ease monetary policy, and local market prospects are generally bullish.
After the Mid-Autumn Festival, the consumer loan interest rates of banks starting with the number "1" are gradually ending, with 2.88% still being the mainstream. The industry believes that in the long term, it will still enter the range starting with the
1. Although various commercial banks have all launched consumer loan promotional activities, the optimal level of annual interest rates for consumer loans is still maintained at 2.88%. 2. In order to increase the credit release efforts, banks have lowered the interest rates of consumer loans in exchange for quantity, and this has become a common situation in the consumer loan market. 3. With interest rates at a downward trend, consumer loan interest rates are expected to continue to decline, and the market's consumer loan levels may enter the single digits.
The gold price soaring caught the banks by surprise. Agricultural Bank of China announced that the minimum purchase point for accumulated gold is linked to the floating gold price. More than 10 banks have raised their purchase thresholds within the year.
On September 18th, the Agricultural Bank of China announced on its official website that the starting point for purchasing the Bank's Cunjin Tong No.2 will be adjusted to fluctuate with the price of gold. This is the first bank this year to link the purchase point of cumulative deposits to the price of gold. There have been about 10 large banks that have announced an increase in the starting point for purchasing cumulative deposits this year, but they are mostly concentrated in the first half of the year. If gold continues to be strong, it is not ruled out that more banks will follow suit and continue to adjust the starting point for purchasing cumulative deposits.
Southeast Asian stock markets are strong! Global capital continues to pour in, how to seize this wave of market trends?
After experiencing the 'Black Monday' on August 5th, major stock indices in the Asia-Pacific region rebounded significantly, with Southeast Asian stock markets performing particularly well. Southeast Asian stock markets have consolidated their position as the most favored investment symbol for fund managers during the shifting policy of the Federal Reserve.
Quick Look at Mid-day Trading | The three major stock indexes in Hong Kong all fell, with oil and coal stocks declining; all three major oil companies saw a drop of over 5%, while Tianqi Lithium Corporation surged 12% against the market trend.
Network technology stocks generally fell, with SenseTime down nearly 3%, JD.com, Netease down nearly 1%, Tencent, Alibaba slightly down; Bilibili rose by over 1%, Meituan slightly rose.