The Shanghai Composite Index once again fell below the 2,900-point mark. As of Dec. 26**, the Shanghai Composite Index fell 068% at 289888 points;The Shenzhen Component Index fell 107% to 915725 o'clock;The GEM index fell 126% at 180850 points. Yang Delong, chief economist of Qianhai Open Source, said bluntly, "The reason is the lack of investor confidence." ”
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Yang Delong said that after falling below 3000 points, there is a rapid bottoming trend, and the current long-short divergence is still large, and the acceleration of the bottom also means that the market is getting closer and closer to the bottom, and the market may appear to be the end of 2023, and it is difficult to return to 3000 points.
Looking ahead to 2024, Yang believes that the market is expected to produce a bull market**, and there is no need to be too pessimistic at present. It is expected that in 2024, the policy will continue to amplify measures to effectively resolve the risks in the three major areas of the property market, local bonds and small and medium-sized financial institutions, and at the same time will continue to maintain the level of low interest rates and easy liquidity in terms of monetary policy, so as to create a good environment for the rebound of the capital market.
Yang Delong pointed out that the financial policy will continue to exert force next year, create more jobs by increasing investment, improve the income level of residents, and create growth that can drive consumption, which will play a role in stabilizing growth. As a barometer of the economy, the capital market is also expected to stabilize and rebound.
Yang Delong added that the Fed's interest rate hike cycle has ended, and it may cut interest rates three times in 2024, which will be conducive to the recovery of the RMB exchange rate. Recently, the RMB exchange rate has been sharply **, and it is expected that it will further appreciate next year and return to the "6" prefix, which will become an important driving force for the revaluation of RMB assets.
Reporter Dong Xiangyi Produced by Yu Kunhang Otaku Finance (For more reporting clues, please contact the author of this article: [email protected])
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