Hey there, finance aficionados! 👋 The Shanghai Composite Index just wrapped up its seventh straight day of gains, inching super close to that magical 3,000-point mark! 🎯
On Thursday, the index closed up 1.27% at 2,988.36 points. So, what's fueling this bull run? Well, a mix of policy support from regulators and fresh capital flowing in from long-term investors. 💰✨
The China Securities Regulatory Commission (CSRC) recently hit the pause button on new securities lending and gave a thumbs-up to mergers, acquisitions, and restructuring among listed companies. 📈📊 They're not stopping there! Earlier this month, the CSRC huddled with experts and market players to brainstorm ways to supercharge the capital market. 🧠💡
Experts are saying it's all about boosting investor confidence now and rolling out long-term reforms for a healthier market down the road. Wu Xiaoqiu, dean at the National Finance Research Institute of Renmin University, emphasized the need for continuous efforts to stabilize expectations and promote vigorous institutional reforms. 🏦🚀
Tian Xuan, associate dean at Tsinghua University's PBC School of Finance, believes that increasing investment returns is key to getting investors pumped. He points out that improving the quality of listed companies is the secret sauce to driving investment. 🍲🔥
And it's not just local players taking note! U.S. asset managers are eyeing China's market recovery too. Jonathan Krane, CEO of KraneShares, called it a \"once-in-a-lifetime opportunity\" to scoop up Chinese equities at historically low valuations. 🛍️🇨🇳
Adding more fuel to the fire, China announced bigger-than-expected mortgage rate cuts on Tuesday, giving investors even more to cheer about. 🎉 Chen Jiahe, chief investment officer at Novem Arcae Technologies, told CGTN that while lowering interest rates is a handy monetary tool, more targeted fiscal measures could be the game-changer. 🎯
He suggests that fiscal tools, directed at specific industries needing a boost, might be more effective in fine-tuning the economy. 🎯🛠️
So, are we looking at the start of a new golden age for China's stock market? Only time will tell, but things are definitely heating up! 🔥 Stay tuned, and keep those eyes on the charts! 📊👀
Reference(s):
Shanghai Composite Index rise for a 7th day, nearing 3000 points
cgtn.com
