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after the federal reserve announced its first interest rate cut in recent years overnight, global stock markets were shaken. u.s. stocks rose and then fell, japanese stocks continued to rise after opening sharply higher, the a-share market bottomed out and then rebounded significantly, the hong kong stock market opened low and then rose, and the south korean stock market opened high and then fell.

the a-share market hit a slight bottom in the morning, and then rose rapidly driven by kweichow moutai. the shanghai composite index once rose by more than 1%, and the shenzhen component index and chinext index once rose by more than 2%.

it is worth noting that after the federal reserve cut interest rates, monetary policy departments of central banks of several countries or some regions that play a similar role to that of central banks also announced interest rate cuts.

a shares rise

after the fed announced a rate cut overnight, the a-share market opened slightly higher this morning, with the shanghai composite index up 0.22%, the shenzhen component index up 0.29%, and the chinext index up 0.64%. the market then bottomed out slightly. subsequently, driven by kweichow moutai, liquor stocks strengthened overall, and the market bottomed out and rebounded. as of press time, the shanghai composite index rose nearly 1%, and the shenzhen component index and chinext index rose nearly 2%.

kweichow moutai's share price opened slightly lower and fell further during the session, but then bottomed out and rebounded, quickly turning positive. as of press time, the stock rose by more than 1%.

driven by kweichow moutai, the liquor sector as a whole strengthened, with huangtai liquor, jiugui liquor and others hitting their daily limit.

in addition, brokerage stocks strengthened, jinlong shares hit the daily limit, and oriental fortune rose nearly 5%.

in terms of concept sectors, chicken and pork concept stocks led the gains, and wen's shares strengthened, rising by more than 4% at one point during the session.

wen's shares issued an announcement on the company's share repurchase plan and a repurchase report announcement last night. the announcement shows that the company intends to use its own funds of no more than rmb 1.8 billion and no less than rmb 900 million (both inclusive) to repurchase the company's common stock (a shares) through centralized bidding transactions for the implementation of employee stock ownership plans or equity incentives. the repurchase price shall not exceed rmb 27.01 per share (including the principal amount). according to the upper and lower limits of the repurchase price and the upper and lower limits of the repurchase amount, the estimated number of repurchased shares is 33.321 million shares to 66.642 million shares, accounting for approximately 0.50% to 1.00% of the company's total share capital after the close of june 28, 2024. the specific number and amount of repurchased shares shall be based on the number and amount of shares actually repurchased at the end of the repurchase period. the repurchase period shall not exceed 12 months from the date on which the board of directors deliberates and approves the resolution on the repurchase of shares.

the hang seng index of the hong kong stock market opened slightly lower in the morning, and after falling for a while, it rose again during the session. as of press time, the hang seng index rose by more than 1%, and the hang seng technology index rose by more than 2.5%.

china shipbuilding and china heavy industry resumed trading today. china shipbuilding opened 7.39% higher in the morning, but the increase narrowed later. china heavy industry opened slightly higher by 0.40% in the morning, but then turned from rising to falling.

china shipbuilding issued a general risk warning and resumption announcement on the disclosure of the restructuring plan last night, stating that china shipbuilding industry corporation (hereinafter referred to as "the company" and "china shipbuilding") and china shipbuilding industry corporation (hereinafter referred to as "china shipbuilding") are planning to merge china shipbuilding with china shipbuilding by issuing a shares to all shareholders of china shipbuilding (hereinafter referred to as "this transaction"). this transaction constitutes a major asset restructuring as stipulated in the "administrative measures for major asset restructuring of listed companies" and also constitutes a related-party transaction of the company. this transaction will not lead to a change in the actual controller of the company.

on september 18, 2024, the company held the 22nd meeting of the 8th board of directors to review the "share exchange and absorption plan of china shipbuilding industry corporation limited and related transactions" and proposals related to this transaction, and made relevant announcements on the shanghai stock exchange website and designated information disclosure media.

many countries and regions followed suit and announced interest rate cuts

asia pacific stock markets were mixed this morning following the federal reserve's rate cut.

the japanese stock market rose sharply in the morning, with the nikkei 225 index re-standing above the 37,000-point mark, and the intraday increase once exceeded 2%. among the nikkei 225 index components, sumitomo pharma, toyota motor, nitto denko, nippon yusen, honda motor, and tdk were among the top gainers.

the south korean stock market performed relatively weakly in the morning. the korea composite index opened higher, with the maximum intraday increase not exceeding 1%. it then narrowed the gains and turned from rising to falling during the session.

australia's s&p 200 index also opened higher today, but then quickly narrowed its gains.

on the news front, the federal reserve announced on wednesday local time that it would cut the benchmark interest rate by 50 basis points to 4.75%-5.00%. this is the first interest rate cut by the federal reserve since march 2020.

after the federal reserve cut interest rates, central banks of several countries or monetary policy departments in some regions that play a similar role to that of central banks also announced interest rate cuts.

the central bank of kuwait announced that in view of the vigilant monitoring of domestic and international economic developments by the board of directors of the central bank of kuwait (cbk) and the end of the monetary tightening cycle initiated by most central banks around the world since march 2022, it has decided to reduce the discount rate by 25 basis points from 4.25% to 4.00%, effective september 19, 2024.

the uae central bank also announced a 50 basis point cut in its benchmark interest rate.

in addition, the hong kong monetary authority announced that it would cut the base interest rate by 50 basis points to 5.25%, effective immediately.