The central bank has released a big move, cutting the reserve requirement, cutting interest rates, reducing the interest rate of the stock mortgage, and creating the first monetary tool to support the development of the stock market, which has triggered a sharp rise in the stock market, and at the same time triggered the market's expectation of strong policies to support the real estate and economy, which is particularly important for the restoration of market confidence. The GEM index has risen by nearly 10% for 2 consecutive days, which has undoubtedly changed the trend of the market, but Brother Niu also wants to remind everyone that the National Day is coming, and it is still necessary to pay attention to the time node here, as well as pay close attention to the policy trends in the financial aspect. With the successive issuance of policy documents in the future, it will also form a continuous stimulus to the market, and these policy details are often gradually discovered by the market and evolve into investment opportunities.
It is found that the incremental policies announced at the press conference on financial support for high-quality economic development have exceeded market expectations, mainly due to the increase in the downward pressure on China's economy, the lack of improvement in price deflation, and the difficulty of achieving the annual economic growth target of 5% has increased. The meeting announced a series of support policies for the real estate industry, especially the reduction of the interest rate of the stock mortgage by 0.5 percentage points, which can effectively alleviate the phenomenon of prepayment. According to President Pan Gongsheng, the average annual reduction in household interest expenses is about 150 billion yuan, which will help promote the expansion of consumption.
The three major indexes collectively opened higher, the ChiNext index rose more than 2%, the Shanghai Composite Index stood at 2,900 points, and less than 300 stocks fell. Big financial stocks continued to strengthen at the beginning of the session, Tianfeng Securities, Yinzhijie, Hengyin Technology, Aijian Group, Hongye Futures, Xinli Financial, Minmetals Capital, COFCO Capital, Jinlong Shares, Guohai Securities, Jianyuan Trust and other stocks rose more than 5%. Real estate stocks opened higher, and more than 10 shares such as Everbright Jiabao and Fuxing shares rose to the limit, which will guide the LPR downward, reduce the interest rate of existing housing loans, reduce the proportion of second home loans, increase the re-lending support of central funds for affordable housing, and support the acquisition of stock land of real estate enterprises.
The concept of solid-state batteries continued to be strong, Yinghe Technology rose nearly 20%, Lianchuang shares, German Nano and other stocks rose more than 5%, CATL, Tianqi Lithium, etc. have followed suit, Dongfeng is about to mass produce solid-state battery products with an energy density of 350wh/kg, and will accelerate the self-development of the next generation of all-solid-state batteries, with an energy density of more than 550wh/kg. Since the beginning of this year, the industrialization process of solid-state batteries in mainland China has ushered in a "small climax", and power battery companies such as CATL and NIO have successively released new solid-state battery products. The opening of the net stock rose sharply, Haixin Energy, Zhongnan shares and other more than 20 shares of the limit, the main index constituent stock companies should formulate and publicly disclose the market value management system, long-term net breaking companies should disclose the valuation improvement plan.
The Shanghai Composite Index continued to open higher on Wednesday, rising nearly 200 points in two days, which undoubtedly made the funds watching the off-the-counter chase up, but it rose on Tuesday and continued to rise on Wednesday, which also made the market begin to chase the upward sentiment. For banks, the adjustment of the interest rate of existing mortgage loans has a negative impact on the pricing of banks' assets, and it is clear that the subsequent decline in LPR and deposit interest rates will have a neutral impact on bank interest margins. Swap facilitation tools increase the financing facilities of non-bank institutions and target investment in the stock market, re-lending tools help listed companies buy back and increase their shareholdings, and index weighted stocks with good subject qualifications and liquidity have more room for practical operation, and listed banks are expected to directly benefit. In the afternoon, pay attention to whether the Shanghai Composite Index can stabilize above 2930 points.
The GEM index opened higher on Wednesday, with an amplitude of nearly 10% in the two cities, and this momentum appeared 20CM of the target limit, and the 100-share limit appeared again. From experience, the market's understanding of the policy is gradual, that is, the policy will be driven by sentiment in the early stage, and many policy details will be overlooked. Yesterday, Brother Niu went to the gym, and even his friends who usually only know how to talk about fitness meals began to talk about the stock market, and this rebound should not be underestimated. In the afternoon, pay attention to whether the ChiNext index can stabilize above 1670 points.
Lunchtime highlights:
1. The People's Bank of China carried out a 196.5 billion yuan 14-day reverse repurchase operation today, and the winning interest rate was 1.85%, the same as before. Today, 568.2 billion yuan of reverse repurchase is due
2. As of September 24, the financing balance of the Shanghai Stock Exchange was 717.265 billion yuan, a decrease of 497 million yuan from the previous trading day, the financing balance of the Shenzhen Stock Exchange was 644.451 billion yuan, an increase of 2.180 billion yuan from the previous trading day, and the total of the two cities was 1,361.716 billion yuan, an increase of 1.683 billion yuan from the previous trading day.