The banking sector lost 300% in Shanghai and Shenzhen
The banking sector lost 300% to Shanghai and Shenzhen as a whole. Last week (03.07-03.11), the A-share market showed an overall downward trend, and the Shanghai Composite Index fell to around 330975. The banking sector lost 300% to Shanghai and Shenzhen as a whole. Among them, the banking sector index (Shenwan level) fell 4.62% as a whole, 0.4 percentage points lower than the CSI 300 index (- 4.22%). The whole industry index fell last week, while the comprehensive, power equipment, food and beverage, medicine and biology fell slightly, while petroleum and petrochemical, non-ferrous metals, household appliances and social services fell most significantly.
The banking sector fell as a whole
The banking sector fell as a whole. Last week (03.07-03.11), bank stocks in the A-share market fell as a whole. Among them, Bank of Lanzhou (7.44%) was the only bank that rose this week, with Bank Of Xi’An Co.Ltd(600928) (- 6.29%), Bank Of Ningbo Co.Ltd(002142) (- 6.42%), Postal Savings Bank Of China Co.Ltd(601658) (- 7.59%) and China Merchants Bank Co.Ltd(600036) (- 8.73%) falling significantly.
Inter bank liquidity tracking
Last week (03.07-03.11), the weighted interest rate of pledged repo of deposit institutions rose as a whole. Weighted interest rate of pledged repo of deposit institutions: 2.03% in one day, up 14bp from the previous week; Weighted interest rate of pledged repo of deposit institutions: 2.10% in 7 days, up 7bp from the previous week; The weighted interest rate of treasury bond pledged repo gc001 increased by 23bp compared with the previous week, and gc007 increased by 14bp compared with the previous week.
Bank financial product tracking
In the first week of March (202202.28202203.06), the expected rate of return of RMB financial products of all terms in the whole market was relatively stable as a whole. In the first week of March 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 the previous week; 1.90% in two months, unchanged from the previous week; 3.23% in 6 months, a decrease of 22bp 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 (03.07-03.11), the issuing interest rate of interbank certificates of deposit increased slightly, including 2.30% in one month, 2.51% in three months and 2.64% in six months; Compared with the previous week, the change range of deposit certificate issuance interest rate is – 6BP, 6BP and 7bp respectively, among which the inter-bank deposit certificate issuance interest rate of urban commercial banks is higher as a whole.
Risk tips
The implementation of monetary policy is less than expected; Macroeconomic growth slowed down.
