Last week was the last week of 2023, and our RMB assets finally ushered in the moment of raising their eyebrows.
On Thursday alone, the offshore renminbi rose 500 basis points against the dollar, breaking through 7 in one fell swoopThe next step from the technical level is to break through 70 is an integer mark.
There are two main reasons behind this. First, Japan announced that it would begin to reduce the scale of its bond purchases. This means that the Bank of Japan is starting to exit its loose monetary policy. The Bank of Japan has been issuing warnings before, but it has not made up its mind, and this time it has directly announced the timetable, which will start in January next year.
Japan's withdrawal from easing policy pushed the yen stronger, while the corresponding dollar fell sharply, hitting a new low in more than two years, while non-US currencies rose sharply across the board, and the yuan also rose sharply. In fact, as I said before, the renminbi is accumulating strength and is ready to crush the bears in one fell swoop.
With the renminbi, northbound funds have flowed in sharply. The single-day inflow reached 13.5 billion, a record for these few months.
We** are even more skyrocketing 15%, and the GEM rose nearly 4% intraday. The previous ** was despairing, but the current ** staged a Great Miracle Day and ushered in the Jedi counterattack.
I think that the well-known investor Times believes that the current ** has long been the bottom, but it is just a little grinding, from the fundamentals, technical aspects and valuation, there is no way to fall, only emotional despair remains.
And I don't know if this long white candlestick can change everyone's psychological state. I hope that ** can make persistent efforts, one yang line can not be changed, then two, three, and then completely reverse market expectations, ** will live.