Special contributor Guo Jiayao: The market atmosphere remains prosperous, but after a significant accumulation of gains, consolidation at a high position is taking place.
Jinwu Financial News | The US stock market experienced significant fluctuations last Friday, as the latest non-Agriculture job data from the USA fell short of expectations. After a weak opening, the market significantly declined at first, then fluctuated and rebounded, with all three major indices closing with gains. The dollar weakened, the yield on the ten-year US Treasury note rose to 4.3%, gold prices showed weakness, and oil prices improved from their lows. The Hong Kong stock market's pre-market securities were generally soft, and a low opening is expected. The mainland stock market fell last Friday, with the Shanghai Composite Index opening low and continuing to decline, closing down 0.2%, while trading volume in the Shanghai and Shenzhen markets slightly decreased. The Hong Kong stock market fluctuated downward last Friday, initially rising after a low opening, before turning weaker again and closing with a modest decline.
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Chinese financial stocks rose across the board as the government work report proposed timely cuts in reserve requirement ratios and interest rates.
Jinwu Financial News | Chinese financial stocks are rising across the board, with significant gains in China Mainland Banking stocks. Bank Of Communications (03328) rose by 2.87%, Bank Of China (03988) rose by 2.49%, MINSHENG BANK (01988) rose by 2.42%, CEB BANK (06818) rose by 1.94%, Industrial And Commercial Bank Of China (01398) rose by 2.01%, Postal Savings Bank Of China (01658) rose by 1.60%. In terms of Mainland Insurance Companies, China Pacific Insurance (02601) rose by 2.88%, China Life Insurance (02628) rose by 2.28%, ZA ONLINE (06060) rose by 2.17%, China Pacific Insurance.
The central bank conducted standing lending facility operations for Financial Institutions in February totaling 1.901 billion yuan.
On March 3, the People's Bank of China disclosed that to meet the temporary liquidity needs of Financial Institutions, in February 2025, the People's Bank conducted a total of 1.901 billion yuan in standing lending facility operations for Financial Institutions.
