[ midday review strategy]
The market opened higher in the morning and continued to rebound, led by the gem index. As of midday closing, the Shanghai index rose 2.59%, the Shenzhen Composite Index rose 3.73% and the gem index rose 4.38%.
In terms of sectors, all sectors in the two cities rose across the board, none fell, and real estate services, traditional Chinese medicine, covid-19 treatment, photoresist, medical beauty and other sectors led the rise.
On the disk, the real estate sector opened stronger, and many stocks such as Yango Group Co.Ltd(000671) rose by the limit. Covid-19 treatment concept stocks strengthened during the session, and GEM stocks Tianjin Chase Sun Pharmaceutical Co.Ltd(300026) rose by the limit. Photoresist concept stocks surged stronger, and GEM stocks Shenzhen Rongda Photosensitive & Technology Co.Ltd(300576) rose by the limit.
Overall, individual stocks rose more and fell less. More than 4400 stocks rose in the two cities, and nearly 200 stocks rose 9%. The half day turnover of Shanghai and Shenzhen stock markets reached 810.9 billion, up from 158.6 billion in the morning of the previous trading day.
[message side]
1. The Hong Kong Monetary Authority responded to the Fed’s interest rate hike: the financial system and money market continued to operate in an orderly and smooth manner
In response to the Fed’s decision, the Hong Kong Monetary Authority also raised the basic interest rate today. Yu Weiwen, President of the Hong Kong Monetary Authority, said that the United States officially entered the interest rate hike cycle, which was expected by the market. Our financial system and money market continue to operate in an orderly and smooth manner. As an international financial center, capital flows in and out of Hong Kong are very normal. Under the linked exchange rate system, the exchange rate of the Hong Kong dollar has been floating within the exchange guarantee range of 7.75 to 7.85 according to the market supply and demand. Referring to past experience, the Hong Kong dollar interest rate may not immediately follow the US dollar interest rate rise, and the extent of the lag depends on the supply and demand of Hong Kong dollar funds in the local market. In terms of bank interest rate, banks will make commercial decisions on their own capital cost structure.
