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Market Chatter: Chinese Central Bank May Reduce Rates, Cut Reserve Requirement Ratios in H2
Zhongtai Securities: Why were bank stocks the top gainer in Q2?
The marginal inflow of various funds and the rare outflow of institutional funds have driven banks to rank first in terms of rising stocks.
Express News | Huabao International - Subscribed for Financial Products by Bank of Jiangsu and China Minsheng Bank of RMB712 Mln and RMB440 Mln
Banks stocks generally decline, CM Bank (03968) falls 4.35%, Guolian Securities points out that there may be increased pressure on bank interest spreads.
Bank stocks fell across the board, with CM Bank (03968) down 4.35%, CEB Bank (06818) down 2.89%, Minsheng Bank (01988) down 2.87%, and Bank of Communications (03328) and China Citic Bank Corporation (00998) following suit. On the news front, ICBC and ABC will adjust RMB deposit rates from July 25, with the largest reduction in the interest rate for fixed deposit of more than two years, which is 20 basis points. As of the time of publication, the official websites of BOC and CCB have not yet made adjustments, but they are expected to do so soon. According to the information on the ICBC website, the latest policy will be implemented from July 25.
Tech Firm IFlyTek Issues 200 Million Yuan Ultra-Short-Term Bonds
The central parity rate of Renminbi is reported as 7.1358, down 24 points.
On July 24th, the central parity rate of RMB was reported as 7.1358, down 24 points from the previous trading day of 7.1334. Looking to the future, the exchange rate of RMB in the second half of the year is expected to be relatively stable with sufficient support at a reasonable and balanced level. According to Wen Bin, the chief economist of Minsheng Bank, China's good economic fundamentals, coupled with relatively abundant exchange rate management tools, will be sufficient to ensure the exchange rate of RMB in the second half of the year remains basically stable at a reasonable and balanced level. It is expected that the USD-RMB exchange rate will fluctuate bidirectionally within the range of 7.1 to 7.3 most of the time, and the pressure for RMB depreciation will significantly decrease after the Fed's interest rate cut landing. "In the second half of the year, RMB"
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