In early trading on February 20, 2024, A-shares opened lower as a whole, stimulated by the 5-year LPR cut, the real estate sector was relatively strong, and the real estate ETF China AMC (515060) once bucked the trend and turned red. Among the constituent stocks, Jinke shares (000656) rose by more than 6%, Zhongnan Construction (000961) rose by nearly 5%, and Huafa shares (600325) and Rongsheng Development (002146) followed suit.
On the news, on February 20, the People's Bank of China authorized the National Interbank Lending Center to announce the loan market ** interest rate (LPR) on February 20, 2024: 1-year LPR is 345%, the same as the previous value; LPR for more than 5 years is 395%, down 25 basis points from the previous value.
Everbright previously believed that China's economy is rebounding well, but it is still facing some difficulties and challenges. At this time, the attitude of the monetary authorities and the slight downward trend of the LPR that is more likely to occur in the near future have the effect of easing credit, stabilizing the market and strengthening confidence, creating a good monetary and financial environment for the operation of the financial market, including the capital market, and consolidating and enhancing the upward trend of the economy.
Related ETFs: Real Estate ETF China AMC (515060), Financial Real Estate ETF (510650).
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