news

한어Русский языкEnglishFrançaisIndonesianSanskrit日本語DeutschPortuguêsΕλληνικάespañolItalianoSuomalainenLatina

on the last trading day before the holiday, the three major a-share indexes continued to strengthen. the chinext index rose by nearly 7%. the shanghai stock exchange index once rose by more than 4%, returning to 3,200 points. as of press time, it was reported at 3,180 points. securities, liquor, real estate, software and other directions were among the top gainers.

within 15 minutes of the opening, the transaction volume of the shanghai and shenzhen stock markets exceeded 500 billion yuan, and the volume exceeded 175 billion yuan compared with the previous trading day.

▲source: wind screenshot (the same below)

from the perspective of sectors, the real estate sector collectively rose sharply in early trading, with more than ten stocks including vanke a, gemdale group, financial street, oct, greenland holdings, and sunshine holdings bidding to reach their daily limit.

brokerage stocks also set off a trend of daily limit rises. bank of china securities, tianfeng securities, guohai securities, citic securities, guolian securities, cinda securities, china galaxy, etc. all rose by the daily limit, and orient securities and others collectively rose sharply.

in terms of news, on the 29th, favorable policies for the property market were introduced intensively, and the three major first-tier cities collectively introduced new policies for the property market.

specifically,shanghaiit is proposed that for families and single persons who are not residents of this city and purchase housing outside the outer ring road, the number of years required to pay social insurance or personal income tax for the purchase of a house will be adjusted to one year or more of continuous payment before the date of purchase; the first house is commercial for individuals the minimum down payment ratio for housing loans is adjusted to no less than 15%, and the minimum down payment ratio for commercial personal housing loans for second homes is adjusted to no less than 25%.shenzhenit is proposed that the minimum down payment ratio for commercial personal housing loans for first homes be adjusted to 15%, and the minimum down payment ratio for commercial personal housing loans for second homes be adjusted to 20%, and restrictions on the transfer of commercial housing and business apartments be cancelled.guangzhouit is proposed to cancel various purchase restriction policies for households to purchase housing.

the people's bank of china guides the market interest rate pricing self-regulatory mechanism to issue an initiative. all commercial banks should uniformly implement batch adjustments to the interest rates of existing mortgage loans (including first, second and above) before october 31, 2024, and reduce them to no less than lpr minus 30 basis points, major commercial banks will in principle issue operating rules no later than october 12.

in the evening of the same day, the six major banks including industrial and commercial bank of china, agricultural bank of china, china construction bank, bank of china, bank of communications, and postal savings bank of china all issued announcements stating that they were advancing the adjustment of existing mortgage interest rates in an orderly manner. the six banks mentioned in the announcement that they plan to announce specific operational matters on october 12 and implement batch adjustments to existing mortgage interest rates before october 31.

cicc believes that after the recent rapid rise in the market, it is expected that with the rapid recovery of valuations and short-term profit-making funds, historical experience cannot rule out that the short-term upward slope will slow down or have twists and turns, but combined with policy signals, the process is still emerging. , the current market upward trend is still expected to continue. and from the perspective of some types of funds, such as private equity funds, whose transactions are relatively flexible, the historically low position levels may be a reflection of the position levels of most institutional investors. it is expected that there may still be some funds to be added during this rapid rise. this part funds may become potential long positions in the market.

regarding real estate stocks, everbright securities said that after the continuous surge in volume, the call for bullishness is increasing day by day, which is expected to attract more wait-and-see funds to enter the market. the real estate market is booming, and the real estate industry is expected to start a journey of valuation restoration.

citic securities also pointed out that for the first time, stopping the decline and stabilizing has become the goal of real estate policy, and the signal of adjusting the housing purchase restriction policy is of significant significance. the policy pays more attention to the phased supply and demand issues in the real estate market, and the attitude towards growth has changed from optimization to strict control. at the same time, the policy encourages the release of improved demand, but the policy does not follow the old path of history. the construction of a new model of the real estate market and the recovery of demand in the real estate market will coexist.

in terms of banks, citic securities believes that the implementation of the existing mortgage interest rate adjustment is estimated to have a negative impact on the annual asset return rate of commercial banks at around 4.6bps. taking into account the subsequent lpr reduction and liability cost savings, the overall impact on interest margins is expected to be limited. . the implementation of multiple real estate policies will help mitigate risks in the real estate sector while enhancing the stability of the bank's net assets.

huatai securities also said that the reduction in existing mortgage loans may have a short-term impact on investment sentiment in banking stocks, but it is expected to reduce residents' interest burden and reduce the pressure for early repayment. considering the combined impact of the rrr cut and the deposit interest rate cut, the overall impact is expected to be controllable, and individual stocks are recommended. seize structural opportunities for small and medium-sized banks.

regarding the "bull market flag bearer" brokerage stocks, tianfeng securities said that as market sentiment has warmed up, customers' willingness to open accounts has increased significantly, the average daily number of account openings has surged, and there have been queues for online account openings. at the same time, the autonomous activity of sleeping customers has increased compared with the previous period of this month. significantly enhanced, individual and institutional customers have a strong willingness to enter the market. with the support of market reflexivity, the intensity and speed of market interpretation may exceed market expectations. it is recommended to pay attention to leading securities companies.