Xi Jinping, general secretary of the Communist Party of China, was unanimously elected president of the country and chairman of the Central Military Commission at the National People’s Congress held on the 10th, officially opening the era of his third “trinity” (General Secretary, President of the State, and Chairman of the Military Commission). However, on the 10th, the mainland stock exchange market did not set off a celebratory market. Instead, the Shanghai and Shenzhen stock markets opened lower, and eventually both fell by more than 1% to close.
U.S. stocks recorded their worst single-day performance in two weeks on the 9th, driving most Asian stock markets to open significantly lower on the 10th. As of 15:00 in the followingnoon, the mainland stock market closed, the Shanghai Composite Index and the Shenzhen Composite Index fell by 1.4% and 1.19% respectively. Both fell more than 1%, and Hong Kong’s Hang Seng Index fell more than 3%.
Although the onshore and offshore renminbi fluctuated slightly on the 10th and tended to depreciate, the range was not large. The quotation remained in the range of 6.96 to 6.98, and the trend was relatively calm.
Xi Jinping started his third term as the president of the country. The Wall Street Journal believes that Xi Jinping is trying to show his status as a global statesman once more, leading China at a time of increasingly fierce competition between China and the United States, but will strictly guard once morest the United States.
Regarding the market of the two sessions of the mainland stock market, Meng Lei, a China strategist at UBS Securities, previously analyzed and summarized the performance of A shares in the past ten years before, during and following the two sessions. During the two sessions this year, there were many discussions on digital economy, reform of state-owned enterprises, and expansion of consumption. These sectors, which are expected to be promoted by favorable policies, are particularly worth looking forward to following the two sessions.
Regarding the market outlook of the mainland stock market, China Merchants Securities believes that under the background of policy support and economic recovery, the market in 2023 is worth looking forward to, but following the continuous rebound from the beginning of the year to the present, we should beware of short-term market shocks.
More udn reports
Shenyin for 7 months! The 26-year-old male star suddenly announced that he was “at the end of lung cancer” and cried bitterly: I don’t smoke
The belly of the black bird bulges strangely!He pushed the whole lump with both hands and the displacement ended super-expanded: a big bottle came out
Female college students throw their socks and underwear into the washing machine and wash them together “Is it only me?” Experts give the answer
The sexiest mermaid ever! The 3-stage red dress can’t cover the figure
More related news
China Premier Li Qiang expected to be appointed
Wang Huning puts emphasis on people-to-people exchanges in Taiwan’s work
Xi, Li and Wang “Iron Triangle” chatted for nearly half an hour
Xi Jinping’s trinity takes full power and the United States analyzes that if peaceful reunification cannot be achieved, force will be used
0 votes once morest!After Xi Jinping completes the party, government, and army’s three consecutive terms, foreign business publishers also have to set up Xi’s ideological zone
