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【Introduction】Bank stocks strengthened, with ICBC, CCB, Bank of China and Bank of Communications all hitting record highs

China Fund News reporter Taylor

Brothers and sisters, today's market is still fluctuating in a narrow range. Let's review what happened today.

A-shares mixed

ICBC and other bank stocks hit new highs

On August 16, the three major A-share indices rose and fell. As of the close, the Shanghai Composite Index rose 0.07%, the Shenzhen Component Index fell 0.24%, and the ChiNext Index fell 0.08%.

A total of 1,670 stocks in the market rose, 43 stocks hit the daily limit, and 3,530 stocks fell.

Huawei HiSilicon concept stocks continue to explode, many stocks including Century Dingli, Tianyi Shares, Huizhong Shares, and Shenzhen Huaqiang hit the daily limit.

AI glasses concept stocks continue to surge, many stocks hit the daily limit.

Monkeypox concept stocks collectively strengthened, Haichen Pharmaceutical, Tojing Life, Lanwei Medical, Asia Pacific Pharmaceutical and other stocks rose by the daily limit. On August 14, local time, the World Health Organization announced that the escalating monkeypox epidemic in many African countries has constituted a global public health emergency (PHEIC), and warned that a new wave of epidemics may eventually cross borders and spread to the world again. PHEIC is the highest level of WHO alert, which has been used for major epidemics such as Ebola and COVID-19.

also,Many popular stocks fell sharply, and King Long Automobile hit the limit down。

Bank heavyweight stocks rose to support the market, with Industrial and Commercial Bank of China, China Construction Bank, Bank of China and Bank of Communications all hitting record highs.

Hong Kong stocks maintained their strength throughout the day, with the three major indexes rising by around 2%.

Nikkei 225 enters technical bull market

Overnight U.S. retail data boosted U.S. stocks, market confidence in the U.S. economy increased, and Asian markets followed the U.S. stock market's general rise.

On August 16, the Japanese stock market opened higher and continued to rise. By the close, the Nikkei 225 index rose 3.64%.It has rebounded more than 20% from the low point on August 5, entering a technical bull market, and has accumulated a nearly 9% increase this week.。

The Nikkei 225 index plunged 12% on August 5, the biggest drop since Black Monday in 1987, but rebounded 10% the next day. Data shows that overseas investors' strong interest in Japanese stocks remains. Bruce Kirk, chief Japanese equity strategist at Goldman Sachs Group, said foreign investors are looking for opportunities to buy Japanese stocks.

In addition, the yen carry trade appears to be making a comeback.

Nomura Holdings Inc., Japan's largest brokerage, said various investors have begun borrowing yen again and investing the proceeds in other higher-yielding assets, a sign that corporate clients and hedge funds that have been keen on carry trades are returning to them.

Analysts said that carry trading has picked up significantly after US retail sales data exceeded expectations. Many accounts have sold the yen and bought the Australian dollar and the pound. U.S. Treasury yields rose on Thursday as retail data prompted traders to lower their expectations for the Federal Reserve to cut interest rates this year.

Australian online foreign exchange broker ATFX Global Markets said short yen positions had increased by about 30% to 40% in the past week, with a large portion of the bets coming from hedge funds and high-net-worth investor clients.

A key question for investors still on the sidelines of carry trades is whether the Bank of Japan will raise interest rates again this year.Bank of Japan Deputy Governor Shinichi Uchida has said policymakers will not raise interest rates further if financial markets are unstable.

Nick Twedale of ATFX believes there is evidence that investors are adding to short yen positions again as part of a strategy to buy higher-yielding assets. "The carry trade remains very important," said the Sydney-based chief analyst.

In addition, as of the close, South Korea's Kospi index rose 2%, the Taiwan Stock Exchange's weighted stock price index rose 2.07%, and the Australian stock index rose 1.34%.