The banking sector lost 300% to Shanghai and Shenzhen as a whole. Last week (02.21-02.25), the A-share market showed an overall downward trend, and the Shanghai Composite Index fell to around 345141. The banking sector lost 300% to Shanghai and Shenzhen as a whole. Among them, the banking sector index (Shenwan level) fell by 3.73% as a whole, 2.06 percentage points lower than the CSI 300 index (- 1.67%). Most of the industry wide indexes fell last week, while power equipment, national defense and military industry, electronics and non-ferrous metals increased significantly, while non bank finance and media fell, and building materials and building decoration fell most significantly.
The banking sector fell as a whole
The banking sector fell as a whole. Last week (02.21-02.25), all bank stocks in the A-share market fell. Among them, Bank of Lanzhou (- 5.57%), Jiangsu Suzhou Rural Commercial Bank Co.Ltd(603323) (- 5.66%), Bank Of Hangzhou Co.Ltd(600926) (- 5.67%), Bank Of Ningbo Co.Ltd(002142) (- 5.86%) decreased significantly, and Jiangsu Changshu Rural Commercial Bank Co.Ltd(601128) (- 6.61%) decreased the most.
Inter bank liquidity tracking
Last week (02.21-02.25), the weighted interest rate of pledged repo of deposit institutions rose as a whole. The weighted interest rate of pledged repo of deposit institutions: 2.18% in one day, an increase of 8bp over the previous week; Weighted interest rate of pledged repo of deposit institutions: 2.34% in 7 days, up 25bp from the previous week; The weighted interest rate of bond pledge repo gc001 increased by 113bp compared with the previous week, and gc007 increased by 43bp compared with the previous week.
Bank financial product tracking
In the third week of February (202202.14202202.20), the expected rate of return of RMB financial products of all terms in the whole market is relatively stable as a whole. In the third week of February 2022, the expected annualized yield of financial products of all terms in the whole market is 1.88% in one month, which is the same as that of the previous week; 1.85% in 2 months, down 5bp compared with the previous week; 3.40% in six months, up 12bp compared with the previous week. According to the income of financial products of different types of commercial banks, the income of large commercial banks is 1.88%, and joint-stock banks, urban commercial banks and rural commercial banks have not been announced.
Tracking of interbank certificates of deposit of commercial banks
Last week (02.21-02.25), the issuing interest rate of interbank certificates of deposit increased slightly, including 2.26% for one month, 2.46% for three months and 2.61% for six months; Compared with the previous week, the change range of deposit certificate issuance interest rate is 8bp, 5bp and 5bp respectively, among which the inter-bank deposit certificate issuance interest rate of urban commercial banks is higher.
Risk tips
The implementation of monetary policy is less than expected; Macroeconomic growth slowed down.
