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the style of painting has changed so quickly recently!

this morning, cnbc had a comment on the market, which roughly said that "most asian markets fell sharply, but the chinese stock market saw hope of a rebound." recently, foreign investors' views on chinese assets have also quietly changed.

in the market, although equity performance is not strong, the exchange rate has improved significantly. the offshore rmb against the us dollar was 7.1190 yuan at 04:59 beijing time, up 103 points from the new york closing price on wednesday, and the overall intraday trading range was 7.1330 yuan to 7.1172 yuan. in the morning trading today, the rmb soared again by more than 100 points.

this is due to the sharp drop in the us dollar and the rise of all asia-pacific currencies, as well as internal factors. after yesterday's close, the market once again went crazy with heavy information: china will cut the interest rates of more than $5 trillion in existing housing loans as early as this month, aiming to stimulate consumption by reducing the borrowing costs of millions of households.

extremely fast rhythm changes

recently, the peripheral markets, especially the foreign exchange market, have been changing at a fast pace. the yen exchange rate, which fell sharply yesterday, rose again today, with the usd/jpy falling by 0.5% to 141.11. at the same time, the japanese stock market, which rose sharply yesterday, fell sharply today against the backdrop of the sharp rise of the us stock market last night.

it is worth mentioning the trend of the rmb. at 04:59 beijing time, the offshore rmb was 7.1190 against the us dollar, up 103 points from the new york closing price on wednesday. in the morning trading today, the rmb rose again, the range once expanded to more than 140 points, and broke through 7.11.