Regarding the chip issue, Fang Hong first skipped the topic, turned to Tian Jiayi and asked: "What value range is the country's foreign exchange reserves in now?"
Hearing this, Tian Jiayi replied: "In terms of US dollars, it reached a historical peak of US$5 trillion in September this year, but it began to decline in October, with a loss of more than US$180 billion. It should currently remain in the range of US$4.7 trillion."
The scale of foreign exchange reserves in September exceeded the 5 trillion mark and reached a historical peak. There is no other reason than that Wall Street was harvested in reverse. After the financial war ended, the country's foreign exchange reserves directly soared by more than 1 trillion US dollars.
In fact, there is more than that, because Qunxing Capital also holds a large amount of U.S. dollars overseas, including U.S. bonds, euros and other currencies. The total is about one trillion U.S. dollars in U.S. dollars. In the past two months, Wall Street has harvested
The part belonging to Qunxing Capital did not flow back to the country.
After a while, Fang Hong thought about it and said in a deep voice: "It has gone through 300 billion in less than two months. The decline is a bit fast."
Tian Jiayi suddenly said: "Data shows that the number of immigrants has surged recently."
Fang Hong suddenly said with a look of enlightenment: "So that's the case, it still has something to do with us."
The rise of Qunxing Capital has squeezed the living space of some sophisticated egoists. Not to mention its recent full-scale entry into the medical field, many people saw that Fang Hong was at the height of his power and felt that there was no hope of overthrowing him.
Even at such a young age, there is no way to survive him to death.
After weighing these groups, a group of people began to choose to run away from Lurun before anything happened. They knew very well that the money they made was not clean, and Fang Hong's rise and power made them smell some dangers and feared that they would be
I have to settle my accounts after the fall, so I choose to run away to make money.
However, the sharp decline in foreign exchange reserves is definitely not the only reason. In fact, it is very complicated and is the result of multiple factors.
For example, when the U.S. dollar enters an interest rate hike cycle and is harvesting the world, the rate of return for holding U.S. dollars is higher. The profit-seeking nature of capital will also cause money to continue to flow out and instead hold U.S. dollar assets.
In addition, it cannot be ruled out that Laos and the United States are also putting pressure on overseas capital and using various channels and means to allow foreign investment to flow out of the Greater China market. It can be seen that the financial war is still continuing.
Furthermore, a large number of domestic students study abroad and travel abroad. These are also consuming a lot of foreign exchange reserves, and they finally pay back the money they earned from abroad.
At this time, Tian Jiayi said: "The scale of foreign exchange reserves this year is more abundant than at any time in history. Overall, there should be no major problems and it should be within a controllable range."
Fang Hong immediately said: "In general, it is certain that the problem is not big, but the top management will definitely pay attention to the speed of outflow. There should be some corresponding measures to deal with it in the future, maybe there will be measures such as exchange reform."
Fang Hong clearly remembered the 811 exchange reform in his previous life.
Another option is to start A-shares to enter a bull market. In order to protect the exchange rate and not cause panic, let the A-share market bullish and retain hot money. As long as the money-making effect here is greater than overseas, funds will definitely not flow out.
Another is that the current downturn in the real estate market has led to the downturn in related upstream and downstream industries. It has to be said that housing indeed affects the rise and fall of more than a dozen industries.
In addition, the public's deposit rate is too high, and a large number of IPO financings are carried out by boosting the stock market, allowing real companies to go public and raise funds to invigorate the real economy.
The starting point was good, but the actual results were skewed. After the channels for trusts to enter the market were liberalized, a large amount of private funds entered the stock market through trusts and leveraged funds. These funds were purely incremental OTC funds.
The only purpose of the market is to buy, buy and buy.
From the 2007 crash to the present, the prices of many individual stocks have also been at historical lows. After a large amount of OTC funds have entered, it can easily drive up the stock prices, resulting in the market's profit-making effect getting better and better, which in turn leads to the inflow of OTC funds.
More and more, eventually forming a positive feedback, and the whole people fell into madness.
It really proves that the bull market is born in despair, rises in doubt, and dies in madness.
Finally, Fang Hong asked: "Has Qunxing Capital's layout in the A-share market been completed?"
Tian Jiayi nodded: "It will be completed in August."
Fang Hong nodded with satisfaction after hearing this. There were no deviations in the plan and layout, so that's good.
Not surprisingly, management will probably start to release positive results in the next few days.
…
Sure enough, on Thursday the next day, Fang Hong received the news that the accuracy was going to be lowered.
Then on Friday, November 21, in the A-share market, before 11 o'clock in the morning today, the Shanghai Stock Index was still oscillating near the zero axis. Just after 11 o'clock, the index suddenly pulled down quickly, and it continued to trend all the way after 14 o'clock in the late trading.
Upward, the Shanghai Stock Index finally closed up 1.39% at 2486.79 points.
Obviously, one day after Fang Hong received the news, other large funds also received the news, and only retail investors who were lagging behind in the news did not know yet.
The rise in the market index today is clearly the result of the promotion of the large financial sector, to be precise, the brokerage sector. Today, the brokerage sector led the gains in both markets. The sector index once soared by more than 6 percentage points during the session. Many brokerage stocks in the sector
The daily limit was reached, and the stocks of all brokerage firms were in the red.
At the same time, the securities sector index also broke through the previous high and hit a new all-time high since April 2010. Throughout the second half of this year, the securities sector has accumulated a cumulative increase of more than 58%. Many short-term investors are looking forward to a deeper correction.
Intervening, I didn't expect that it had just corrected less than 5 percentage points in the past few days, and today it rose again with a big positive line and reached a new high.
…
The next day, Saturday, November 22, the market received major news.
The central government announced an asymmetric approach to lowering the benchmark interest rates for RMB loans and deposits of financial institutions. Among them, the one-year benchmark loan interest rate of financial institutions was reduced by 0.4 percentage points to 5.6%; the one-year deposit benchmark interest rate was reduced by 0.25 percentage points to 2.75%.
This is the third RRR cut in recent years.
Obviously, this series of interest rate cuts and reserve requirement ratio measures are aimed at allowing deposits to flow into the stock market.
As soon as the good news came out, various stock trading influencers and stock commentators also began to sing too much. Among them, the big ones once again jumped out to sing too much. It was beyond words to express what measures to protect the stock market. The big country bull is about to set sail. Hurry up and get on the bus...
However, Da Xiao's bullish stance was ridiculed by stock investors, because Daxiao has always been bullish, and even if he is right, investors don't buy it. If he keeps singing long, he will always be right once or twice, but what's the point?
?
So investors don't buy it.
Investors now only listen to one person, or in other words, only believe in one person, and that is God K!
Since the rise of K-God, there has never been a single misjudgment precedent, and when the bottom is reached, everyone is almost urged to get on the bus and buy the bottom. Those who believe in him have done so and made money in the bear market.
There is no harm without comparison. Just after Da Xiao came out to sing more and was ridiculed by investors, the next day at the weekend, K God posted an article on Weibo to comment on the stock market trend. The attitude of investors was a 180-degree change.
This makes Da Xiao and other stock commentators very unhappy. They are also bullish. If you don’t believe a single punctuation mark of what I say, do you retail investors regard what Fang Hong said as truth?
