China’s Shanghai A-share index closed up nearly 1% on Thursday (25th), and Hong Kong’s Hang Seng Technology Index rose more than 6%. The bullish thing is that Beijing has invested another 1 trillion yuan (146 billion US dollars), issued 19 policies in a row, and strived to fight. Revitalize the economy.
Securities Times reported that the Shanghai Composite Index closed up 0.97% to 3,246.25 points on Thursday, the Shenzhen Component Index rose 0.06% to 12,104.03 points, and the ChiNext Index fell 0.44% to 2,667.3 points; the total turnover of the two markets was 98.5 billion. yuan, and the net “northward funds” inflow was 1.671 billion yuan.
Oil and coal stocks rose strongly, while shipping, gas, ports, insurance, brokerages, breweries, banks, real estate and other groups all strengthened; semiconductors, automotive supply chains, consumer electronics, energy storage, lithium batteries, optoelectronics and other stocks fell. .
Hong Kong’s Hang Seng Index closed down 3.63%, while the Hang Seng Technology Index rose 6.01%.
Chinese Premier Li Keqiang held an executive meeting on Wednesday and announced 19 additional policies, including an increase of more than 300 billion yuan in the quota of policy and development financial instruments, and the full use of more than 500 billion yuan of special debt balance. limit according to law.
Li Keqiang also said that he will support central power generation enterprises and other organizations to issue bonds of 200 billion yuan, and use the central reserve fund of 10 billion yuan, focusing on supporting drought resistance of middle rice.
Li Keqiang bluntly stated that the economy continued the trend of recovery in June, but the foundation was still not firm. He instructed to coordinate efficient epidemic prevention and control with economic and social development, maintain a reasonable policy scale, make good use of the tools available in the toolbox, and “don’t flood in the future, and don’t overdraw the future.”
Dong Ximiao, chief researcher of China Merchants Union Finance, said the National Standing Committee’s decision to increase the quota of policy and development financial instruments will help solve the problem of difficulty in obtaining capital for large projects and attract more private capital to participate. .
Soochow Securities believes that the timing of the launch of this policy is similar to the “523” meeting. It is expected that the credit in August and September will be similar to that in May and June, with a more obvious rebound; because the “824 meeting” pays more attention to the operation Investors are expected to see continued infrastructure development and better property sales by the end of the third quarter.
Economists from Nomura Holdings, led by Lu Ting, said the measures would not change the overall situation, partly because the real estate industry is still in deep trouble. The economists pointed out that real estate is giving a boost to households in the previous easing cycle, businesses and local governments It plays an important role in the demand for government credit.
