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both scenarios will benefit those import raw material Poultry Flour Steel billet n xxxxxx If bnm will drop rate Property and construction stock will boost..so u just focus on Poultry, Flour, Steel (optional) property n constuction n those hold a lot US debt then u safe lol..can understand?
Foreign funds day day week week come into Bursa, do u think they are stupid to trap themself in our stock market? off course they see the potentia only the jump in with large figures.
If foreign fund day day week week come into bursa and market is so freaking good, then y so many retailers still lost money in last 2 months? Some even lost whatever they made since early this year...
Market rebounds continuously for a few days doesnt mean it is a bull market now. I'll be dumb if i rush in now so that those who love bottom fishing can sell to me at very good price...
China rolls out broad rate cuts and other stimulus to spur weak economy
NST Tue, Sep 24, 2024 01:11pm - 13 minutes
China announced a broad range of measures on Tuesday to support the faltering economy, stabilise the housing sector and restore market confidence. Stocks and bonds jumped after the announcement.
Here are the key measures announced in the press conference by People's Bank of China (PBOC) Governor Pan Gongsheng, alongside National Financial Regulatory Administration Minister Li Yunze and China Securities Regulatory Commission (CSRC)Chairman Wu Qing:
RRR CUT
China's central bank will cut banks' reserve requirement ratio (RRR) by 50 basis points in the near future, freeing up about 1 trillion yuan (US$142.21 billion) for new lending.
Depending on the market liquidity situation later this year, the RRR may be further lowered by 0.25-0.5 percentage points, Pan said.
RATE CUT
China's central bank will cut the seven-day reverse repo rate by 0.2 percentage points to 1.5 per cent.
Pan expects the measure will guide the medium-term lending facility (MLF) rate lower by about 0.3 percentage point, and the loan prime rate (LPR) and deposit rates lower by 0.2-0.25 percentage point. Pan did not specify when the moves would come into effect.
REDUCTION IN EXISTING MORTGAGE RATES
China's central bank will guide commercial banks to reduce the interest rates on existing mortgages by 0.5 percentage point on average, in order to provide some relief to households.
LOWER DOWN PAYMENT
China will lower the minimum down-payment ratio to 15 per cent for second-home buyers national-wide, from current 25 per cent.
REVIVING STOCK MARKET
China's securities regulator will issue guidance for medium and long-term funds to enter the market, and measures to promote mergers, acquisitions and reorganizations.
The CSRC will further support China's state fund Central Huijin Investment in stock purchases and expanding investment scope.
FUNDING FOR STOCK PURCHASE
The PBOC has also introduced two new tools to boost the capital market.
The first - a swap programme with an initial size of 500 billion yuan - allows funds, insurers and brokers easier access to funding in order to buy stocks.
The second provides up to 300 billion yuan in cheap PBOC loans to commercial banks to help them fund listed companies' share purchases and buybacks.