Kev lag luam siv theem nruab nrab, ua rau PBOC los nqis tes ua

Xov Xwm Tseem Ceeb

Cov khoom lag luam Asian tau sib xyaw ua ke thaum hmo ntuj vim Is Nrias teb raug kaw rau Hnub Kev ywj pheej thiab Kaus Lim Qab Teb raug kaw rau Hnub Liberation. Tuam Tshoj Mainland thiab Hong Kong ob leeg thaws ib ncig ntawm chav tsev kom kaw qis dua.

Ib zaug ntxiv, muab cov ntaub ntawv tib yam, onshore Tuam Tshoj (Shanghai thiab Shenzhen, uas yog 95% muaj los ntawm cov tub ua lag luam hauv Suav teb) tau tuav zoo dua li Hong Kong cov khoom lag luam, uas yog tuav los ntawm cov tub ua lag luam txawv teb chaws. Hnub Friday tshaj tawm tias tsib lub xeev cov tuam txhab lag luam hauv Teb Chaws Asmeskas (SOEs) yuav tshem tawm ntawm New York Tshuag Txauv hnyav rau kev xav. Tshem tawm SOE ADRs ua rau txoj hauv kev rau kev daws teeb meem rau Txoj Cai Tuav Txawv Tebchaws Tuam Txhab Txhaum Cai (HFCAA). Muaj 273 Asmeskas-sau npe Suav ADRs thiab xya ntawm lawv yog SOEs. Yuav ua li cas yog lub caij nyoog uas 5 rau 5 ntawm lub tuam txhab tshaj tawm ib tug delisting tshwm sim los ua SOEs?! Ntau tshaj li ib xyoos, peb tau tawm tswv yim rau SOEs kom tshem tawm cov tuam txhab ntiag tug kom ua raws li HFCAA. Txawm hais tias tsis yog thoob ntiaj teb thiab tshwj xeeb tshaj yog tsis nyob hauv Asia, ob peb ntawm peb cov tuam txhab ua haujlwm tau hais txog qhov no nrog rau ntau zaj dab neeg xov xwm.

Hong Kong cov ntawv teev npe hauv internet tau qis dua vim Hong Kong cov khoom lag luam hnyav tshaj plaws los ntawm tus nqi yog Tencent, uas poob -1.25%, Meituan, uas tau nce +1.01%, thiab Alibaba, uas poob -1.24%. Thaum Hong Kong ntim tau teeb, nqis -1.6% txij hnub Friday, cov neeg muag khoom luv luv tau nias lawv cov thawj koom ruam raws li Hong Kong luv muag ntim tau nce +5% txij hnub Friday. Thaum SOE tshem tawm los ntawm hnub Friday nrog rau Congress tsis ua luv luv HFCAA lub qhov rais yuav tsum raug saib raws li qhov muaj txiaj ntsig zoo, cov lus piav qhia hauv xov xwm tseem tsis zoo rau yav dhau los lossis ntsiag to tom kawg.

Raws li cov ntaub ntawv tshaj tawm tom qab hnub Friday kaw, qiv nyiaj poob rau Lub Xya Hli, qhia tias qhov kev thov tsis muaj zog rau credit / qiv nyiaj los ntawm kev poob nqi vaj tsev thiab kev loj hlob qeeb. Thaum sawv ntxov kev lag luam, Cov Neeg Lub Tuam Txhab Nyiaj Txiag ntawm Tuam Tshoj (PBOC), Tuam Tshoj lub tuam txhab nyiaj hauv nruab nrab, tau tshaj tawm qhov kev txiav txim siab mus rau qhov chaw qiv nyiaj nruab nrab, txo qis tus nqi qiv nyiaj tseem ceeb rau 2.75% los ntawm 2.85% thiab xya-hnub repo tus nqi mus rau 2%. los ntawm 2.1%.

Nws yog ib qho tsim nyog sau cia tias PBOC tab tom ua kom cov txheej txheem nyiaj txiag ntws tawm nrog cov nyiaj tau los. Tsis tas li ntawd, kev muag khoom hauv online (e-lag luam) tau nce hauv Lub Xya Hli mus rau 6.3% YoY, uas yog nce los ntawm Lub Rau Hli 5.5%.

PBOC txoj kev yooj yim tshaj plaws tau txhawb nqa kev loj hlob ntawm cov khoom lag luam thiab cov khoom siv thev naus laus zis huv si, suav nrog hnub ci, cua, thiab hluav taws xob tsheb them. Tuam Tshoj Mainland cov khoom lag luam hnyav tshaj plaws los ntawm tus nqi yog Tianqi Lithium, uas tau nce +4.33%, CATL, uas tau nce +2.81%, thiab TCL Zonghuan Lub Zog Txuas Ntxiv, uas tau nce +10%. Cov tub ua lag luam txawv teb chaws yog cov neeg yuav khoom me me ntawm Mainland Tshuag ntawm Northbound Stock Connect.

Lub Hong Kong Tshuag Txauv (HKEX) tshaj tawm hnub no tias, mus tom ntej, Tshuag Txuas yuav tseem qhib rau hnub ua ntej hnub so Hong Kong. Muaj peb qhov laj thawj MSCI tsis txuas ntxiv nrog kev suav nrog cov khoom lag luam hauv av loj hauv lawv cov indices: 1) tsis muaj av loj MSCI Tuam Tshoj yav tom ntej muaj nyob 2) misalignment ntawm HK thiab Tuam Tshoj hnub so tau txo cov hnub cov tub ua lag luam txawv teb chaws tuaj yeem hloov pauv ntawm Northbound Stock Connect, thiab 3 ) Mainland Tuam Tshoj nyob rau hnub ua lag luam piv rau T + 2 ( hnub ua lag luam ntxiv rau ob hnub) rau feem ntau kev lag luam, uas yog teeb meem rau passive asset managers. Qhov teeb meem 1 tau ploj mus raws li MSCI Tuam Tshoj A 50 yav tom ntej tam sim no pauv hauv Hong Kong. Cov lus tshaj tawm hnub no yuav ua rau cov hnub ua lag luam Northbound nce mus txog rau rau. Ib tug mus, txoj cai?

Hang Seng thiab Hang Seng Tech indexes poob -0.67% thiab -0.96%, feem, ntawm qhov ntim uas poob -1.6% txij hnub Friday, uas yog 55% ntawm 1-xyoo nruab nrab. 135 cov khoom lag luam nce siab thaum 336 cov khoom lag luam tsis kam. Hong Kong luv muag turnover nce +5.48%, uas yog 59% ntawm 1-xyoo nruab nrab, raws li luv luv muag turnover accounted rau 18% ntawm turnover. Kev loj hlob thiab tus nqi tseem ceeb sib npaug tsis zoo li lub kaus mom me "ua tau zoo," poob qis dua lub kaus mom loj. Consumer Staples tsuas yog qhov zoo tshaj plaws, nce +0.37% thaum kev lag luam poob -2.4%, vaj tse poob -2.09%, thiab lub zog poob -1.81%. Cov haujlwm ua haujlwm tau zoo tshaj plaws yog cov khw noj mov ceev thiab ntau qhov kev saib xyuas kev noj qab haus huv cuam tshuam nrog rau cov tshuaj hauv online, thaum cov chaw nres nkoj / logistics thiab semiconductors yog cov tsis muaj zog tshaj plaws. Southbound Stock Connect ntim tau teeb pom kev zoo li cov tub ua lag luam hauv tebchaws tau yuav $ 25 lab tus nqi ntawm Hong Kong cov khoom lag luam, thaum Tencent pom nws thawj hnub muag txij thaum Lub Xya Hli 28.^th li Li Auto thiab Meituan yog cov muag me me thiab.

Shanghai, Shenzhen, thiab STAR Board kaw -0.02%, +0.47%, thiab -0.21%, feem, ntawm qhov ntim uas txo -1.38% txij hnub Friday, uas yog 92% ntawm 1-xyoo nruab nrab. 2,081 cov khoom lag luam tau nce siab, thaum 2,357 cov khoom lag luam tsis kam. Kev loj hlob cov khoom lag luam tau ua tau zoo dua cov nqi khoom lag luam, thaum lub kaus mom loj dua cov kaus mom me me. Cov haujlwm ua haujlwm sab saum toj yog hnub ci, cua, thiab roj teeb ntsig txog, thaum tshav dav hlau thiab cov koom haum tshawb fawb txog kev noj qab haus huv (CROs) yog qhov phem tshaj. Northbound Stock Connect ntim tau teeb pom kev zoo li cov tub ua lag luam txawv teb chaws tau yuav $ 160 lab tus nqi ntawm Mainland stocks. Cov nyiaj qiv nyiaj tau txais txiaj ntsig zoo, CNY tau tawm -0.39% rau 6.77 piv rau US duas, thiab tooj liab tau tawm -1.24%.

Hmo Kawg Ntawm Kev Sib Pauv Cov Nqi, Tus Nqi, & Liaj Teb

• CNY / USD 6.77 piv rau 6.74 Hnub Friday
• CNY / EUR 6.91 tiv tiag 6.91 Hnub Friday
• Tos txais ntawm 1-Hnub Tsoom Fwv Nyiaj Txiag 1.00% piv rau 1.00% rau hnub Friday
• Tos ntawm 10-Xyoo Tsoom Fwv Nyiaj 2.66% piv rau 2.73% rau hnub Friday
• Tawm los ntawm 10-Xyoo Tuam Tshoj Kev Tsim Kho Cov Nyiaj Txiag Nyiaj 2.85% tiv thaiv 2.91% Hnub Friday
• Tus Nqi Tooj Kub -1.24% dhau ib hmo