Thisis a news article about the Chinese A-share market’s strong performance on Tuesday, September 24, 2024. Here’s abreakdown of the key information:
Headline: A股周二走强 沪指涨逾4％升破2800点 (A-shares strengthened on Tuesday, Shanghai index rose more than 4% and broke through 2800 points)
Key Points:
- Market Performance: The Chinese A-share market experienced a significant surge on Tuesday, with major indexes all rising. The Shanghai Composite Index, a leading indicator, closed up over 4%, marking its largest single-day gain in over four years.It successfully broke through the 2800-point mark.
- Specific Index Movements:
- Shanghai Composite Index: 2863 points, up 4.15%
- Shenzhen Component Index:8435 points, up 4.36%
- ChiNext Index: 1615 points, up 5.54%
- Driving Force: The market’s strength is attributed to a series of financial policy measures introduced by the Chinese government, particularly those aimed atsupporting the stock market.
- New Monetary Policy Tools: The People’s Bank of China (PBOC) announced two new monetary policy tools to support the stable development of the stock market:
- Securities, Fund, and Insurance Company Swap Facility: Allows eligible institutions to use their holdings of bonds,stock ETFs, and Shanghai-Shenzhen 300 constituent stocks as collateral to exchange for highly liquid assets like government bonds and central bank bills from the PBOC.
- Stock Repurchase and Increase Holdings Re-loan: Encourages commercial banks to provide loans to listed companies and major shareholders forstock repurchases and increases in holdings.
- Expert Analysis: Gao Ruidong, chief economist at Everbright Securities, believes these new tools will provide stable funding support for the stock market, contributing to its healthy development. He highlights their potential to boost market liquidity and encourage value rediscovery for listed companies.
- Sector Performance: All industry sectors in the A-share market saw gains, with the financial sector performing particularly well. The diversified finance, insurance, and securities sectors led the gains, rising by 8.47%, 6.28%, and 5.99%, respectively.
Overall:This news article provides a comprehensive overview of the A-share market’s strong performance on September 24, 2024, highlighting the key factors driving the surge and the implications of the new monetary policy tools introduced by the PBOC.
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