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[Introduction] The Reserve Bank of New Zealand unexpectedly cut interest rates by 25 basis points; the actual controller was filed, and Dashengda fell to the limit

China Fund News reporter Chen Xi

Hello everyone! Let's pay attention to the market conditions and latest news this morning.

New Zealand Reserve Bank unexpectedly cuts interest rates by 25 basis points

First, let’s look at the overseas breaking news: On August 14,New Zealand Reserve Bank unexpectedly cuts interest rates by 25 basis points， The benchmark interest rate was lowered from 5.5% to 5.25%, and the market expected it to remain unchanged.。

The Reserve Bank of New Zealand was one of the first central banks to withdraw monetary stimulus during the pandemic, and has kept the cash rate at 5.5% since 2023 to curb historically high inflation. Previously, the Reserve Bank of New Zealand chose to keep interest rates unchanged for eight consecutive times.New Zealand's unexpected interest rate cut was the first since March 2020.

The Reserve Bank of New Zealand expects the average official cash rate to be 4.92% in the fourth quarter of 2024 and 4.62% in the first quarter of 2025. The average official cash rate is expected to fall by 101 basis points by mid-2025. The inflation rate is expected to be 2.3% in the third quarter of 2024, and the consumer price index is expected to remain at the midpoint of the target for the foreseeable future. The GDP is expected to shrink by 0.5% quarter-on-quarter in the second quarter of 2024, and the GDP is expected to shrink by 0.2% quarter-on-quarter in the third quarter.

The Bank of New Zealand cut New Zealand mortgage rates following the Reserve Bank of New Zealand's rate decision.

The Reserve Bank of New Zealand said that although the domestic financial environment remains restrictive, it has eased in recent months; the committee observed that the balance of risks has gradually changed since the monetary policy statement in May; a series of indicators pointed to weak domestic economy, and employment growth is expected to weaken further in the coming quarters, and the output gap will be more negative than expected in May; members pointed out that monetary policy will need to remain restrictive for some time to ensure that domestic inflationary pressures continue to dissipate.

Earlier market surveys showed that the Reserve Bank of New Zealand may cut interest rates today, a year earlier than its forward guidance, as slowing inflation, rising unemployment and still weak economic growth prompted the market to bet on loose policies.

A-share market fluctuated within a narrow range

Construction sectors collectively pulled up

Back to the domestic market, on August 14, A shares opened slightly lower in the morning and then fluctuated in a narrow range. As of press time, the ChiNext Index fell by more than 1%.

On the market, construction, electricity, communications and other sectors led the gains in the morning, and the concept of large-scale infrastructure was hot; medical, food, petrochemical and other sectors fluctuated downward.

On August 14, the construction sector rose collectively after opening, with concepts such as western infrastructure, water conservancy and hydropower, and urban and rural transformation leading the gains.

In terms of individual stocks, Zhubo Design hit the 20CM daily limit, achieving two consecutive limits; Kanshe shares hit the four consecutive limits, and many stocks such as Beixin Road Bridge, Chengdu Road Bridge, Dongyi Risheng, and Xinjiang Communications Construction hit the daily limit.

On the news front, the CPC Central Committee and the State Council recently issued the "Opinions on Accelerating the Comprehensive Green Transformation of Economic and Social Development", proposingWe must accelerate the construction of clean energy bases such as Northwest wind power and photovoltaic power, Southwest hydropower, offshore wind power, and coastal nuclear power.

The Hong Kong stock market opened high in the morning and then fluctuated downward. Oriental Selection and NetEase both fell by more than 4%, leading the decline of the Hang Seng Technology Index constituents.

The actual controller was filed

Dashengda was hit by the limit down

On the morning of August 14, Dashengda's stock price fell to the limit in the call auction stage. As of press time, Dashengda's stock price was 5.97 yuan per share, a drop of 9.95%.

On the evening of August 13, Dashengda issued an announcement stating that the company received a notice from the family of its actual controller and chairman Fang Nengbin on the same day. Fang Nengbin’s family recently received a notice issued by the Xigong District Supervisory Committee of Luoyang City that Fang Nengbin was detained and under investigation.

Dashengda said that the company has made proper arrangements for the relevant work. As of the date of disclosure of the announcement, the company has not been informed of the progress and conclusion of the above matters. The company will continue to pay attention to the follow-up situation and strictly comply with the provisions and requirements of relevant laws and regulations to fulfill its information disclosure obligations and remind relevant risks in a timely manner.

Kangwei Century suddenly plunges

20CM limit down

On the morning of August 14, Kangwei Century's stock price suddenly plunged during the trading session, directly hitting the 20CM limit. As of press time, Kangwei Century has not yet opened, and its stock price remains at 20.41 yuan per share.

In response to this, a large number of investors asked about the reason for the limit down on the interactive platform.

In addition, the pharmaceutical and biological sector was generally sluggish in the morning, with many stocks such as Aupramec, Kanghui Pharmaceutical, and Wondfo Biologics plummeting.

Editor: Xiaomo

Review: Xu Wen

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