The RMB exchange rate has appreciated sharply! On September 24th, the six major news in the early hours of this morning continued to ferment!
1. The RMB exchange rate appreciated sharply, rising above 7.04! Looking ahead, the United States may continue to cut interest rates while the Bank of Japan may raise interest rates moderately, and if the yen strengthens further, it may also have a further positive "spillover effect" on the RMB exchange rate.
The United States began to cut interest rates after a gap of four years, and this round of interest rate cuts is expected to continue until 2026, while the dollar index is currently around 100 and is likely to break through further, and the exchange rate of the yuan against the dollar may break through 7 in the future, reaching 6.9 or 6.8. In such an accommodative environment, the process of RMB appreciation will be a phased change.
2. The Fed's interest rate cut can't boost U.S. stocks? U.S. equities could face a sharp 14% correction by the end of the year.
Although the Fed started its easing cycle last week with a "big rate cut" of 50 basis points, it seems to have paved the way for a further rally in US equities.
But let's not forget, based on the S&P 500's price-to-earnings ratio of about 24 times, the stock market valuation is now close to the "peak of the last three generations".
3. Remegen Biotech has raised more than 6 billion yuan in the two listings, but the cumulative losses have exceeded 3 billion yuan in successive years, coupled with high R&D expenditures, almost all the financing money has been "burned out".
In the face of financial pressure, Remegen decided to "reach out to the market for money", announced a fixed increase plan in March this year, and reduced the original planned fund-raising amount from 2.55 billion yuan to about 1.9 billion yuan a few months later.
Fourth, news came over the weekend that some manufacturers said that they could no longer order Nvidia's H20 chips.
There are different theories, some say that Nvidia itself has suspended supply, and some say that domestic manufacturers no longer buy it. H20As an entry-level chip, the price is not close to the people, and it is expected that it will be gradually replaced by domestic chips in the future.
Fifth, "prepayment of mortgages" has now become a trend, and the market is calling for a higher and higher demand for reducing the interest rate of existing mortgages.
At present, it seems that there is a large gap between the interest rate of existing mortgages and the interest rate of new mortgages. As of the end of the second quarter of 2024, the interest rate on new mortgages issued nationwide has dropped to 3.45%, while the interest rate on existing mortgages is still above 4%.
6. Moutai carried out a write-off repurchase for the first time in its 23-year history of listing, which led to the rebound of the liquor sector.
There are actually many reasons for the rebound of liquor stocks: first, the current valuation of the liquor sector is close to the low level at the end of 2018; Secondly, the dividend yield of 4.0%-5.5% provided by the leading wine companies provides solid support for the entire sector; Finally, the competition in the liquor industry is becoming increasingly fierce, and different prices have driven the continuation of sales differentiation.
Note! The content of the article is summarized according to public information, and does not constitute any basis for trading, according to which the investment risk is self-sufficient, and friends who agree with the views of the article can like, pay attention and support, thank you!