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Hong Kong stock morning report | The Federal Reserve maintained interest rates, and the three major U.S. indexes closed higher. China Concept Stocks broadly declined.
① The Federal Reserve maintained the benchmark interest rate, which met market expectations. ② Federal Reserve Chairman Powell stated that the impact of tariffs is greater than expected and there is no rush to cut interest rates. ③ The three major indexes of the U.S. stock market closed higher, while China Concept Stocks generally fell. ④ The central bank stated that it will make every effort to promote the implementation of a package of financial policies. ⑤ International crude oil and Gold Futures prices fell more than 1%.
The central bank takes measures to stabilize the property market, implementing simultaneous interest rate cuts, reserve requirement ratio cuts, and lowering the mortgage interest rate.
① The central bank announced today the implementation of three major measures: a reduction in reserve requirements, a decrease in interest rates, and a cut in provident fund rates, thereby providing substantial Bullish support for the real estate market; ② The interest rate for the first home loan exceeding 5 years has dropped to 2.6%, further widening the interest rate difference between provident fund loans and commercial loans, which will be more beneficial for first-time homebuyers; ③ "In the future, more supportive real estate policies will be implemented successively, and the loan support for both enterprises and individuals will continue to increase."
A structural interest rate cut is still a rate cut! The central bank officially announces the first comprehensive reduction in the structural MMF policy tool interest rate, saving more than 15 billion yuan in bank funding costs each year.
① The central bank announced a 0.25 percentage point reduction in the rate of structured MMF monetary policy tools. Industry insiders stated that structural interest rate cuts are also interest rate cuts, which help strengthen the policy incentives for commercial Banks. ② The central bank proposed to establish 500 billion yuan for re-loaning to service Consumer and Retirement, increase the re-loaning quota for Technology innovation and technological transformation, and increase the re-loaning quota for supporting agriculture and small businesses, guiding Financial Institutions to accelerate loan disbursement in related fields.
The central bank: Starting from May 15, the reserve requirement ratio for Financial Institutions will be lowered by 0.5 percentage points.
The People's Bank of China has decided to lower the reserve requirement ratio for Financial Institutions by 0.5 percentage points (excluding Financial Institutions that have already implemented a 5% reserve requirement ratio) starting from May 15, 2025, and to lower the reserve requirement ratio for Autos financing companies and financial leasing companies by 5 percentage points.
Hong Kong stock morning report｜A press conference on financial policies to stabilize the market will be held. The three major US stock indices closed lower while Chinese concept stocks strengthened against the trend.
① The USA's trade deficit reached an all-time high in March. The trade negotiations between the USA and Europe have encountered obstacles. Trump said that the USA does not need to sign a trade agreement. ② The State Council Information Office will hold a press conference to introduce financial policies to stabilize the market. ③ Treasury Secretary Lan Foan expressed confidence in achieving the growth target of around 5% by 2025. ④ The three major US stock indexes collectively closed lower, while many China Concept Stocks rose against the trend. ⑤ International Gold and Crude Oil Product futures rose by more than 3%.
Hong Kong Stock Morning Report | The U.S. actively conveyed information to China hoping to engage in talks, and May Day tourism sets another record.
① The USA proactively conveyed messages to China hoping to engage in talks, and China responded by stating it is currently evaluating. ② The USA's GDP decreased by an annualized rate of 0.3% in the first quarter, marking its first contraction since 2022. ③ The three major US stock indexes collectively fell on Monday, with mixed performances in Chinese stocks. ④ Buffett unexpectedly announced his resignation as CEO of Berkshire by the end of the year. ④ The "May Day" travel season has set a new record for the "most popular" in history.
