Substantial “interest rate cut”! The concerned LPR quotation in May fell to the ground, remained unchanged in one-year period, and was reduced to 4.45% in five-year period, with a reduction of 15 basis points exceeding expectations.
Hi mention the “big gift bag”. After the three major indexes of A-Shares opened high, they made a large-scale upward attack and ran to the north for capital. As of midday closing, the Shanghai index stood at 3100 points to 313140 points, up 1.11%, and the Shenzhen Component Index and gem index rose 1.33% and 1.54% respectively. The net purchase of northbound funds exceeded 8.2 billion yuan.
Hong Kong stocks also ushered in a strong rebound. By midday closing, the Hang Seng index had risen nearly 400 points, the Hang Seng technology index of Hong Kong stocks had risen by more than 3%, BiliBili and Xiaopeng automobile had risen by more than 5%, and Baidu group, JD group and Xiaomi group had risen by more than 4%.
A-Shares and Hong Kong shares welcome the “interest rate cut”
Looking forward to, looking forward to, finally “cut interest rates”, and the supermarket expectation was adjusted by 15 basis points. In early trading today, stimulated by the “interest rate cut”, A-Shares and Hong Kong shares ushered in a collective surge.
A-share vaccine stocks rose sharply at the opening, with Cansino Biologics Inc(688185) once rising by more than 15%, and Changchun Bcht Biotechnology Co(688276) , Beijing Tiantan Biological Products Corporation Limited(600161) , Chengdu Kanghua Biological Products Co.Ltd(300841) , Shandong Sinobioway Biomedicine Co.Ltd(002581) , Beijing Wantai Biological Pharmacy Enterprise Co.Ltd(603392) , etc. rose sharply.
On the news side, Cansino Biologics Inc(688185) yesterday announced that the World Health Organization disclosed on its official website on May 19 that the company’s recombinant novel coronavirus vaccine (adenovirus type 5 vector) kweisa was included in the “emergency use list” (hereinafter referred to as “Eul”). After the product is included in the who Eul, the company still needs to conduct commercial negotiations with the intended countries on the future sales of the product. If the subsequent overseas countries increase the purchase and use of the product, it will have a certain positive impact on the performance of the listed company.
The logistics sector also rose intraday, China Master Logistics Co.Ltd(603967) , Beijing Changjiu Logistics Corp(603569) , Xinjiang Tianshun Supply Chain Co.Ltd(002800) , Jiangsu Xinning Modern Logistics Co.Ltd(300013) , Eternal Asia Supply Chain Management Ltd(002183) , Shanghai Ace Investment&Development Co.Ltd(603329) , San Yang Ma (Chongqing) Logistics Co.Ltd(001317) , etc. rose one after another. Among them, Eternal Asia Supply Chain Management Ltd(002183) share price rebounded from the bottom and nearly doubled.
Major indexes of Hong Kong stocks rose collectively. As of midday closing, the Hang Seng Index rose 1.83%.
On the news, the Hang Seng Index company announced that it would announce the results of a series of reviews of the Hang Seng Index in the first quarter of 2022 on May 20. Changes in the constituent stocks of the Hang Seng Index series will take effect on June 13.
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which sectors benefit
Yang Chang, head of the policy group of Zhongtai Securities Co.Ltd(600918) Research Institute, told reporters that the recent continuous adjustment of the five-year LPR reflected the policy intention of boosting stimulus. From April 2020 to January 2022, the five-year LPR remained stable. By January 20, 2022, the five-year LPR will be reduced by 5 BPS for the first time to 4.6%, and the second reduction on May 20 will reach 15 bps to 4.45%, reflecting the policy intention of continuous stimulus and intensified stimulus.
According to Zhongtai Securities Co.Ltd(600918) statistics, there have been more than 290 interest rate cuts in history. Among them, the deposit and loan interest rates have been lowered 152 times, with the largest number; The second is the reverse repo rate, which has been lowered for 112 times; MLF and LPR interest rates were lowered 8 times and 18 times respectively. From the asset performance after the first interest rate cut in previous cycles, short-term stocks, bonds and commodities have benefited. If the time dimension is extended to more than one month, the bond performance may be relatively better.
From the performance of various equity indexes after the first interest rate cut in previous cycles, although most indexes can benefit within one week after the interest rate cut, from a longer time point of view, the growth oriented gem index performs best and can still maintain a good positive return after three months. The small and medium-sized board index also has a similar situation, while the performance of Shanghai and Shenzhen 300 and Shanghai Stock Exchange 50 is slightly inferior.
From the performance of various industry indexes after the first interest rate cut in previous cycles, three months after the interest rate cut, the growth of industries with strong growth such as medicine, biology, electronics and media took the lead, and the growth of consumer sector was moderate.
