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in the most bullish morning of the year, the central bank fired two arrows, lowering the policy interest rate by 20 basis points as expected and also lowering the deposit reserve ratio by 0.5 percentage points.

on september 24, at a press conference held by the state council information office, pan gongsheng, governor of the people's bank of china, announced that the deposit reserve ratio would be lowered by 0.5 percentage points in the near future.provide long-term liquidity of approximately 1 trillion yuan to the financial market. depending on the market liquidity situation, we may choose an opportunity to further lower the deposit reserve ratio by 0.25-0.5 percentage points during the year.

in addition, the central bank's policy interest rate, that is, the 7-day reverse repurchase operation interest rate, will be lowered by 0.2 percentage points from the current 1.7% to 1.5%. at the same time, the loan market quotation rate and deposit interest rate will be guided to decline simultaneously to maintain business continuity. the stability of banks’ net interest margins. commercial banks will be guided to lower existing mortgage interest rates to near the new loan interest rates, and the average decrease is expected to be about 0.5 percentage points.

the "stamping power" of the surge brought about by the unexpected policies continues, and the market momentum is booming.

yesterday, a-shares continued to rise sharply, with the shanghai stock exchange index successfully regaining the 3,000-point mark after three months; hong kong's hang seng index rose 4.16%, approaching the 20,000-point mark, and the hang seng technology index rose 7.27%.

in overseas markets overnight, popular chinese concept stocks generally rose, with the nasdaq china golden dragon index soaring 10.85%, the largest single-day increase since 2022. iqiyi and bilibili rose by more than 15%, jd.com rose by more than 14%, and pinduoduo rose by more than 13%.

citic securities research published an article on the company’s official account, with only one word in the title: qian. the article pointed out that the september politburo meeting rarely analyzed the economic situation, the lifeline of the country, involving policies in many fields such as finance, currency, capital market, employment, and private economy. the signal is clear, and it can be summed up in one word: do it!

how are a-shares and hong kong stocks performing today? waiting for the opening.