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[Introduction] The whole line surged! Japan surged 1,100 points, and the trillion-dollar giants of A-shares hit new highs

China Fund News Amman

Asia-Pacific stock markets rose across the board!

In the morning session of August 16, the Nikkei 225 opened high and continued to rise. As of press time, it had risen by 1,120 points, an increase of more than 3%, and rebounded by more than 20% from the low point on August 5.

In addition, the main indices of South Korea, Singapore, Australia and other countries also rose sharply, and A-shares followed suit. Hong Kong's Hang Seng Index and Hang Seng Technology Index rose by more than 1%.

Earlier, just as global central banks were about to enter a major cycle of interest rate cuts, Japan suddenly announced an interest rate hike, which became the fuse for the decline of the Japanese stock market last week.

Foreign investors are looking to buy Japanese stocks as the country regains its footing after its biggest drop since Black Monday in 1987, said Bruce Kirk, chief Japan equity strategist at Goldman Sachs Group Inc.

The strategist said investors should use last week’s pullback to buy because the recent sell-off is more technical than fundamental-driven, unlike during the 2008 global financial crisis and the 2011 Fukushima nuclear accident when there were social and systemic risks. He said signs of overseas demand have emerged in the past few days after stocks fell more than 20% from their July record highs last week.

Japanese portfolio data showed that global investors sold a record amount of Japanese stocks last week, but then bought them again. Preliminary data from the Ministry of Finance showed that foreign sales totaled 31.3 trillion yen in the week ending August 9, the most since 2005. Total purchases reached 31.9 trillion yen, also a record for the same period. On August 5, the Nikkei 225 index plunged 12% in a single day, but rebounded 10% the next day. Global funds ended up buying Japanese stocks on a net basis last week for the first time in four weeks, indicating that investors first sold these securities and then bought them back again.

Bank of China and China Construction Bank hit new historical highs

In the morning of August 16, the three major A-share indexes rose. The shipping and technology sectors led the gains, and AI glasses concept stocks rose again. United Optoelectronics rose by 20cm, Zowee Technology and Asia Optoelectronics rose by the daily limit, Liyuan Information rose by more than 9%, and Liding Optoelectronics rose by more than 6%.

In addition, A-share bank stocks fluctuated and strengthened during the session. Bank of China and China Construction Bank both set new historical highs, Industrial and Commercial Bank of China and Agricultural Bank of China approached historical highs, and Shanghai Rural Commercial Bank, Hangzhou Bank, Qingdao Bank and others followed suit.

Editor: Xiaomo

Review: Xu Wen

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