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the rmb rose by more than 100 points, the "bull market flag bearer" pulled up, the chinext index and the shenzhen component index opened low and ended high

2024-09-04

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in the early morning of september 4, affected by the sharp drop in european and american stock markets last night and japanese and korean stock markets this morning, the three major a-share indices opened lower collectively.

afterwards, the overall decline in the stock market narrowed, the chinext index continued to rise and turned positive, having fallen by more than 1% at the beginning of the session; the shenzhen component index also turned positive subsequently.

the offshore rmb rose in the short term against the us dollar, with the intraday gains expanding to over 130 points to 7.1074 yuan.

the interbank spot bonds strengthened overall, with the mid-end performing well. the 5-year "24 interest-bearing treasury bond 08" fell 1.75bp to 1.75%, and the 7-year "24 interest-bearing treasury bond 13" fell 1bp to 2.005%.

commercial chain sector strengthens

for individual stocks:

solid-state battery concepts surged in the early trading session, with del shares hitting the 20% daily limit; nandu power rose nearly 18%, having hit the 20% daily limit for two consecutive days; liwang shares rose more than 14%, and fengyuan shares, kosen technology, and huafeng shares hit the daily limit.

the real estate sector strengthened, huali family hit the daily limit, shenzhen zhenye a rose more than 4%, gemdale group rose more than 3%, and airport holdings, xinhu zhongbao, and vanke a were among the top gainers.

the insurance sector rose, with tianmao group hitting the daily limit, hitting the daily limit three times in the last four trading days; china life, china pacific insurance, new china life, etc. rose by more than 1%. on the news front, the state council executive meeting held on august 30 discussed several opinions on promoting the high-quality development of the insurance industry.

the commercial chain sector strengthened, with chain drugstores leading the gains. shuyu pingmin rose by 20%, renmin tongtai, laobaixing, jianzhijia, shenzhen seg and others rose by the daily limit, while kaikai industrial, chinese health and yixintang all rose sharply.

the caixin china general services business activity index (service pmi) for august, released on september 4, recorded 51.6, down 0.5 percentage points from july, the second lowest in the year, indicating that the service industry continued to expand but at a slower pace. after a slight improvement in july, the service industry's prosperity fell again in august, the supply and demand of the service industry continued to expand, but at a slower pace, and employment shrank again.

securities stocks rebounded in a volatile manner. guolian securities rose by more than 7%, followed by china galaxy securities, hualin securities, founder securities, capital securities, guojin securities, western securities, and boc securities.

on the news front, guolian securities' reorganization of minsheng securities has made further progress, and this major asset reorganization has been approved by the jiangsu provincial state-owned assets supervision and administration commission. in the future, it will still need to be reviewed and approved by the shareholders' meeting and approved, approved or agreed to be registered by the competent regulatory authorities.

will japan continue to raise interest rates?

japanese and south korean stock markets plunged in early trading on wednesday. as of press time, the nikkei 225 index fell 3.31%.

bank of japan governor kazuo ueda submitted a document to the japanese government stating that the bank of japan will continue to raise interest rates if japan's economic and price performance meets the central bank's expectations.

in fact, this statement by ueda kazuo is not much different from his statements in the past month. however, at a time when the yen-dollar exchange rate has gradually moved away from its historic low, ueda kazuo still insists on such a tough statement, which makes market analysts worry that the bank of japan may act too hastily on the path of raising interest rates, causing the yen to be too high, thus leading to a repeat of the "black monday" at the beginning of last month.