As stated by numerous medias, Chinese stocks have reached new heights, leaping 8-10% daily, a wonderful change from it's long bearish market (By the way, they are also enjoying their national holiday). Likewise, foreign IPO's in the NYSE have also performed well compared to the rest of the market. According to data from previous decades, I find this surge is similar to the 519 event in 1999 and the 2016 bull market.
In 9/24 of 2024, the central bank of China held a press conference, which specifically discussed it's future plans for the stock market. As an example, a cut in interest rates. It also wanted to stop the policy of the central bank taking a portion of the regional banks for each saving. Furthermore, policies regarding real estate have also deregulated.
Any thoughts? How long do you expect this trend to last?
Note: I am not a communist. I am a student from Taiwan participating in the 2024 Wharton stock investment competition. Even if opinions differ, we can still analyze the market like civilized people. There is no need to downvote because a post talks about China.
Leave a Reply