The expectation of interest rate cut failed. At the opening of morning trading, A-Shares and Hong Kong shares fell sharply again. Fund Jun thought that today is another day to eat soil. Unexpectedly, there will be new changes soon before the afternoon
As of the afternoon of the 15th, the Shanghai Composite Index fell 2.18% and the gem index rose 0.41%. Coal, gold, iron and steel, oil and gas, electricity and real estate fell first; Lithium batteries, semiconductors and digital currency themes are well built. Northbound funds sold nearly 9 billion yuan in half a day.
interest rate cut expectations failed
central bank keeps interest rate unchanged
On March 15, the central bank announced that in order to maintain the reasonable and abundant liquidity of the banking system, it carried out 200 billion yuan one-year MLF operation and 10 billion yuan seven-day open market reverse repurchase operation on March 15, and the bid winning interest rates were 2.85% and 2.10% respectively. Data show that today’s 10 billion yuan reverse repurchase and 100 billion yuan MLF expire.
Previously, the mainstream market expected the MLF interest rate to be lowered today. Market participants believe that the overall downturn in financial data in February shows that the weak demand situation has not been effectively improved. Recently, the covid-19 epidemic in China has developed rapidly, the number of cases has increased explosively over the weekend, the steady economic growth has been overshadowed again, and the policy may move forward. The MLF interest rate is expected to be lowered in March.
“help” is coming
Hang Seng technology index staged a dramatic reversal
In early trading on the 14th, affected by the continued sharp decline of China concept stocks last night, the Hang Seng technology index of Hong Kong stocks continued to decline again, once falling nearly 8%.
However, with the support of the “army going south”, the Hang Seng technology index once turned red. However, due to the crazy flight of foreign capital, after 11:30, “funds going south” was suspended, and Hang Seng technology accelerated its decline. As of press time, Hang Seng technology index fell by more than 2.69%.
As of midday closing, funds from the South had flowed into more than 5.6 billion.
Take the firm offer of Hong Kong stock Tencent holdings as an example. The funds bought are basically going south, and the brokerage seats sold are all foreign capital.
“King Ning” is back
gem V-shaped reverse
Look at a shares. At the opening of trading on the 14th, the Shanghai index fell more than 2% and the gem index fell 1.4%. Coal, medicine and Baijiu are falling.
However, around 10 o’clock, with the rise of financial technology, digital currency, semiconductors, lithium batteries and other topics, the gem index rose sharply and turned red, once rising by more than 1%. However, in the case of insufficient overall confidence, the increase narrowed.
From the perspective of individual stocks, Contemporary Amperex Technology Co.Limited(300750) with the largest weight in the gem worked hard, once rising by more than 3%. The lack of momentum for the subsequent rise also led to the narrowing of the growth on the gem.
Market participants believe that due to the multi-point outbreak of the national epidemic, the main economic production activities in Shenzhen, Shanghai, Suzhou and other cities have pressed the “pause button”, as if they were back to the early stage of the epidemic in 2020. Lack of confidence in the future has led to the continuous decline in recent days. But the market is nearing the end of the decline.
In addition, the crisis of Castle Peak Group, which was forced by international giants, was lifted, which also cleared a “time bomb” for Zhejiang Huayou Cobalt Co.Ltd(603799) which is closely related to it.
On the 14th, Zhejiang Huayou Cobalt Co.Ltd(603799) rebounded strongly by more than 8%.
The fine chemicals sector led gains in A-Shares Jiangyin Jianghua Microelectronics Materials Co.Ltd(603078) limit, Ningbo Ronbay New Energy Technology Co.Ltd(688005) , Shenzhen Dynanonic Co.Ltd(300769) etc. followed the rise.
fund fell to the top of the hot search
more than 10% decline in one day
On the morning of March 15, the fund fell and rushed to the microblog hot search list again.
Statistics show that many funds fell by more than 10% in a single day yesterday
Over the past two months this year, a number of funds have fallen by more than 25%, or even more than 30%.
crisis relief
Castle Peak issued a statement late at night
After the historic short selling of LME nickel and the suspension of trading for more than a week, in the early morning of Beijing time, Castle Peak issued a statement saying that it would reach a silent agreement with bank creditors, which would not be flat during the silent period and would not need to add margin.
Castle Peak Group has reached a silent agreement with a syndicate composed of creditors of futures banks. During the quiet period, Castle Peak and the syndicate will actively negotiate and implement the standby and guaranteed liquidity credit, which is mainly used for Castle Peak’s nickel position margin and settlement needs. During the silent period, the participating futures banks agreed not to close the positions of Castle Peak, or requested to increase the margin for the existing positions. As an important part of the agreement, Castle Peak Group shall reduce its existing positions in a reasonable and orderly manner with the elimination of abnormal market conditions
Subsequently, the London Metal Exchange also announced that a major customer of the market has now announced details related to the support of a banking consortium, which may indicate that the possibility of further disorder may be alleviated.
LME’s announcement also announced the following points:
1. LME nickel contract will resume trading at 8:00 on March 16, London time (16:00 on March 16, Beijing time)
2. LME has set the price limit applicable to all base metals: the maximum daily price limit of other base metal contracts will be 15% plus or minus the closing price of the previous trading day of the contract, while nickel will be at least 5% plus or minus, and will continue to be reviewed and adjusted according to the market conditions. The price limit system will be implemented from the 15th, and the price limit of nickel will be implemented from the resumption of trading
3. Postpone the delivery time of all nickel contracts signed before March 16 (Wednesday) to March 23 (i.e. between March 16 and March 22)
4. During the period when LME does not officially announce the official price and closing price of nickel due to the interruption of trading event, additional guidance will be provided for determining and announcing the official price and closing price
In early trading on the 15th, Shanghai nickel opened sharply higher, with an intraday increase of more than 11%.
