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Is the Hong Kong stock market welcoming a long-term bull market? Institutions state that three major cycles resonate upwards.
① What is the role of foreign capital in this round of rebound in the Hong Kong stock market and what are its potential risks? ② What core factors does the long-term bull market of the Hong Kong stock rely on?
The central bank carried out a one-year MLF operation of 300 billion yuan with interest rates remaining unchanged.
The People's Bank conducted a 300 billion yuan medium-term lending facility (MLF) operation, with a term of 1 year and a winning interest rate of 2.00%.
Will the tight funding conditions continue? This week, over one trillion interbank certificates of deposit will mature, and the pressure on the Banks' liability side will still require time to alleviate.
① If the funding situation does not loosen, the interbank certificate of deposit interest rates will continue to rise. ② The current relief from pressure on the asset side may take time, and the alleviation of banks' liability pressure may require the liquidity environment to loosen first. ③ Non-bank Institutions and rural commercial banks are the Block Orders for Shareholding, while Funds and Brokerages are the main ones reducing their holdings.
Morgan Stanley: "Animal spirits" are returning to the Chinese stock market, but currently only limited to the Technology Industry.
Morgan Stanley stated that recent technological breakthroughs, last week's private enterprise symposium, and Alibaba's robust capital expenditure investment plans are all early signs of a return of "animal spirits", but this spirit is currently limited to the technology industry.
The Hong Kong stock market is booming! The Hang Seng Index has surged nearly 3%, breaking a three-month high.
On the morning of February 21st, the Hang Seng Index and Hang Seng TECH Index opened higher and continued to rise, with the Hang Seng Index breaking through its recent three-month high around 11:30 AM.
In February, the LPR Quote was released: the interest rates for both 5-year and 1-year terms remain unchanged.
The loan market quote rate (LPR) for February has been released: the LPR for more than 5 years is 3.6%, the same as last month at 3.6%. The 1-year LPR is 3.1%, unchanged from last month at 3.1%.