Comparing the early trading with the closing, the feeling is two words: Don’t waste money!
In early trading today, the situation for both A-shares and Hong Kong stocks was very good. However, in the afternoon, both A-shares and Hong Kong stocks experienced a correction. The three major A-share indexes collectively closed down, with the Beixin 50 Index falling significantly in late trading after a surge of nearly 12%. The Hong Kong stock market also experienced a significant decline. The Hang Seng Technology Index fell by nearly 1% from an increase of nearly 2%. The gains of the Hang Seng Index and the China Index narrowed significantly.
So, what exactly caused the market to dive collectively in the afternoon? Judging from the news, it is most likely related to a piece of news from Bloomberg.According to the media report, in order to prevent the economic recovery process fromcreditOver-expansion, the central bank recently imposed restrictions on businessbankThe pace of credit disbursement was guided. Although this news has not been officially confirmed, it has a great impact on the market. So, is the news accurate, and what is the real impact?havebankindustry insidersBrokerage firmChinese journalists said the report had the potential to “misunderstand” regulatory policies.
It is worth mentioning that the RMB did not fall sharply. As of press time, the offshore RMB still rose by more than 250 points and broke through the 7.14 mark, and the trend of A50 was significantly stronger than that of the mainland market. And after the market closed, Guangdong announced another major positive news.
A shares suddenly pulled back in the afternoon
On November 21, led by real estate stocks, the market actually performed well in the morning. But it suddenly fell in the afternoon, catching people off guard. As of closing,Shanghai Stock Exchange IndexCovering the gap in early trading, the three major indexes collectively closed lower. The North Securities 50 Index, which surged nearly 12% today, fell significantly in late trading.
From the perspective of market structure, the recently popular TMTthemeAfter falling back one after another, the main line of the market gradually disappeared, and individual stocks of the Long family collectively retreated.new energy, AI mostly sells down. Nearly 3,400 stocks fell throughout the day, and short-term sentiment once again deviated from the index. A-share trading volume reached 1 trillion yuan throughout the day, and trading volume increased significantly in the afternoon.
On November 21, data showed that northbound funds significantly outflowed in the afternoon, with a slight net purchase of 142 million yuan throughout the day. At one time, the position was increased to more than 5 billion yuan during the session; of whichShanghai Stock ConnectNet purchases were 1.451 billion yuan,Shenzhen Stock ConnectNet sales were 1.309 billion yuan. So, what exactly happened?
A rumor, a misunderstanding?
This afternoon, a report from Bloomberg flooded the WeChat group.
Bloomberg quoted news as saying that in order to prevent excessive credit expansion during the economic recovery process, the People’s Bank of China has recently imposed restrictions on business operations.bankThe pace of credit disbursement was guided. However, this report has not yet received an official response.
So, what exactly is the feedback information from commercial banks?
According to the China Securities Journal, a person from a joint-stock bank in Shenzhen believes that Bloomberg may have “misread” the central bank’s policy. He told reporters that the content of Bloomberg’s report was obviously inconsistent with some of the recent regulatory requirements for banks. Maintaining credit levels is currently the minimum requirement and the bottom line requirement, which means “not allowed to decline.”
Guangdong releases major benefits
It is worth mentioning that Guangdong also released major positive news after the market closed.
The General Office of the People’s Government of Guangdong Province issued the “Three-Year Action Plan for the Construction of the “Digital Bay Area”” to fully stimulate the innovation momentum of digital technology. Accelerate the construction of an international science and technology innovation center and a comprehensive national science center in the Guangdong-Hong Kong-Macao Greater Bay Area. Actively promote the participation of innovative resources from Hong Kong and Macao in the construction of provincial laboratories in the field of information technology, accelerate the construction of cross-research platforms and cutting-edge disciplines in the Greater Bay Area, and strengthen core technology research in the digital field. Taking the Hetao as a pilot project, we will carry out life health,AIdata, advanced manufacturing,new energyDigital cooperation in other industries.
Support Guangzhou and Shenzhen in promoting the country’s new generationAIInnovation and development pilot zones and countriesAIThe construction of innovative application pilot areas will create a source of artificial intelligence technology innovation. Actively coordinate with relevant national departments to further relax market access restrictions for foreign investment in the information transmission, software and information technology service industries, and encourage Hong Kong and Macao enterprises to provide digital content value-added services.
According to this aspect, in 2023, the construction of the “Digital Bay Area” will be launched, and Guangdong, Hong Kong and Macao will establish a joint working mechanism for the “Digital Bay Area” andSmart CityCo-construction and government services”Cross-border communicationWe took the lead in making breakthroughs in key areas such as “service management”, pan-public services and information aggregation, digital investment promotion, digital talent training, and digital balanced development.
In 2024, through digital cooperation, Guangdong, Hong Kong and Macao will form a diversified co-construction model with government guidance, business leadership, and social participation in promoting the circulation of factor resources, the cluster development of digital industries, new infrastructure connectivity, and social digital governance. Digitalization has become An important driving force for the construction of the Greater Bay Area.
By 2025, the construction tasks of the “Digital Bay Area” will be basically completed, and the digital regulatory rules of the Greater Bay Area will be effectively aligned, new infrastructure will be built for efficient connectivity, and computing power and storage will be enhanced.energy storagebalanced development. The construction of the “Digital Bay Area” has become a new economic growth point in the Greater Bay Area, and “digital energy” has become a new driving force for high-quality economic and social development.
Sudden dive! Why can’t A-shares soar as the RMB exchange rate soars?
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(Source of article: Brokerage China)
Source of article: Brokerage China
Author of the article: Shi Qian
Original title: What a surprise! A-shares suddenly pulled back and a rumor hit! What’s the truth? Guangdong announces major benefits, what impact will it have?
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