The offshore RMB exchange rate against the US dollar rebounded rapidly after falling below 7.2, but recently it began to weaken again. Recently, Dunhe Asset Management, a well-known 10 billion macro private equity institution, issued a document saying that although China's economy is still facing downward pressure, and the RMB is basically negative, there is little pressure for the endogenous depreciation of the RMB because the relationship between foreign exchange supply and demand has improved significantly compared with that before the epidemic. The RMB exchange rate does not have the basis for long-term depreciation.
Nasdaq futures fell more than 1%, and Hang Seng Index fell below 17000 points.
Overseas markets are still trading, and the US Nasdaq index futures once expanded their decline this morning in Beijing time, falling more than 1%.
After the Hang Seng Index of Hong Kong stocks opened lower at 1% in early trading, it once surged, but eventually lost to the weak market. After the surge, it continued to dive, closing down at 1. 19% to17,065,438+08.62 points in early trading, and the index once fell below17,000 points in intraday trading. Set a new low of nearly 1 1 year, approaching the lowest point of 20 1 1 year.
Li Ka-shing Fund reduced its holdings, and the 380 billion Postal Savings Bank plunged.
H shares of Postal Savings Bank opened slightly higher and then went down all the way, once falling more than 12% in intraday trading, but still falling more than 9% in early trading, with a total market value of 386.2 billion yuan. In the news, the Li Ka-shing Foundation recently reduced its holdings.
According to the information disclosed by HKEx, Li Ka-shing Foundation reduced its holding of 50,000 shares of Postal Savings Bank on September 29th, with an average price of 4.7 1 HK$, involving an amount of about HK$ 235,500. After the reduction, the shareholding ratio of Li Ka-shing Foundation in Postal Savings Bank decreased to 65,438+00.99%, holding 26,543.8+84 million shares.
According to Grenhui, this is the first time that Li Ka-shing Fund disclosed the situation of reducing its shareholding in Postal Savings Bank. The last declaration of rights and interests was 2065438+65438+2009 10. At that time, the Foundation held 2.267 billion shares of the Postal Savings Bank (about 1 1.4 1%), which means that the Foundation reduced its holdings by more than 83 million shares in the past period.
The favorable policies were introduced, and housing stocks rose sharply.
Before the National Day holiday, the favorable policies of the property market continued. This morning, housing stocks in Hong Kong stocks rose sharply. Beichen Industry, Xuhui Holdings and Hejing Taifu rose by over 10%, while Agile, Longhu Group, Country Garden and Vanke also rose sharply.
On the evening of September 30th, official website, the People's Bank of China, announced that the People's Bank of China decided to reduce the interest rate of the first set of personal housing provident fund loans by 0. 15 percentage points from June, 2022, and adjust the interest rates for less than five years (including five years) and more than five years to 2.6% and 3. 1% respectively. The second set of personal housing provident fund loan interest rate policy remains unchanged, that is, the interest rates for less than five years (including five years) and more than five years are not less than 3.025% and 3.575% respectively. Prior to this policy, there were also favorable policies of the central bank on the property market, such as "the lower limit of the interest rate of the first home loan in some cities will be relaxed in stages" and the Ministry of Finance "residents can enjoy a tax refund when changing houses within 1 year".
The A50 index fell.
The overseas market was turbulent, and the A50 index of overseas trading also plunged sharply, once falling below 1.9%.
The RMB exchange rate began to fall again, and tens of billions of private placements: there is no basis for long-term depreciation.
After falling below 7.2, the offshore RMB exchange rate against the US dollar ushered in a strong rebound back to within 7. 1, and now it has begun to fall back to around 7. 14. However, tens of billions of macro private placements believe that there is no long-term depreciation basis for the RMB.
Billion Private Capital and Asset Management recently issued a document saying that compared with the past, this round of RMB breaking 7 has stronger passive depreciation characteristics, and the strengthening of the US dollar is the main reason. A basket of RMB exchange rate index is still at a historical high.
Although China's economy is still facing downward pressure, and the RMB is basically bearish, the pressure of RMB endogenous depreciation is not great because the relationship between foreign exchange supply and demand is obviously improved compared with that before the epidemic. The more important driving force behind the record high trade surplus is that China's competitive advantage in the middle and high-end manufacturing industry has increased, and its trade deficit with other industrial economies has begun to shrink. Even if the future slowdown in external demand will lead to a decline in the trade surplus, the central level will be significantly improved compared with before the epidemic. Therefore, the RMB exchange rate does not have the basis for long-term depreciation.