Core view
The banking sector lost 300% to Shanghai and Shenzhen as a whole
The banking sector lost 300 in Shanghai and Shenzhen as a whole. Last week (12.27-12.31), the A-share market showed an overall upward trend, and the Shanghai Composite Index rose to around 3639.78. The banking sector lost 300 in Shanghai and Shenzhen as a whole. Among them, the banking sector index (Shenwan level) fell 0.89% as a whole, 1.27 percentage points lower than the Shanghai and Shenzhen 300 index (0.39%).
The banking sector fell as a whole
The banking sector fell as a whole. Last week (12.27-12.31), bank stocks in the A-share market fell as a whole. Among them, Zhejiang Shaoxing Ruifeng Rural Commercial Bank Co.Ltd(601528) (1.35%) and Bank Of Communications Co.Ltd(601328) (1.32%) increased, and Ping An Bank Co.Ltd(000001) (- 4.79%) and Postal Savings Bank Of China Co.Ltd(601658) (- 3.41%) decreased significantly.
Inter bank liquidity tracking
Last week (12.27-12.31), the weighted interest rate of pledged repo of deposit institutions increased. The weighted interest rate of pledged repo of deposit institutions: 2.03% in one day, an increase of 24bp over the previous week; Weighted interest rate of pledged repo of deposit institutions: 2.29% in 7 days, up 39bp from the previous week; The weighted interest rate of treasury bond pledged repo gc001 increased by 202bp compared with the previous week, and gc007 decreased by 218bp compared with the previous week.
Bank financial product tracking
In the fourth week of December (12.20-12.26), the expected rate of return of RMB financial products of all terms in the whole market rose as a whole. In the fourth week of December 2021, the expected annualized yield of financial products of all terms in the whole market is 1.85% in two weeks, which is the same as the previous week; 88% in one month, unchanged from the previous month; 1.90% in 2 months, decreased by 117bp compared with the previous week; 2.81% in three months, up 89bp compared with the previous week; 3.15% in six months, up 13bp compared with the previous week. In terms of one month’s financial product income of different types of commercial banks, the yield of large commercial banks was 1.88% this week, and the one month’s financial yield of joint-stock commercial banks, urban commercial banks and rural commercial banks was not announced.
Commercial Bank interbank certificate of deposit tracking
Last week (12.27-12.31), the issuing interest rate of interbank certificates of deposit decreased, including 2.68% for one month, 2.82% for three months and 2.94% for six months; Compared with the previous week, the change range of deposit certificate issuance interest rate is – 12bp, – 1bp and 2bp respectively, among which the inter-bank deposit certificate issuance interest rate of urban commercial banks is higher.
Risk statement
Covid-19 epidemic situation is repeated; The economic growth rate was lower than expected; The implementation of the policy is less than expected.
