Analysts said that China lowered the compulsory reserve ratio for banks that can promote market psychology and stocks of some sectors that will benefit. China Central Bank Department (PBOC ) Having a winner, losers of China Central Bank (POBC) last weekend, said the agency will lower 50 basic points of mandatory reserve ratio (RRR) for all banks. This decision will take effect from July 15. This move is expected to "liberate" about 1,000 billion yuan (equivalent to 154 billion USD) long-term liquidity for the second largest economy in the world. The storage is required to show the amount of banks right Holding at a certain ratio compared to the total deposit
. The reduction of compulsory reserve rates will increase the supply of money that banks can give businesses and individuals to borrow. "We believe that cutting the ratio of mandatory reserves on this area can promote Market sentiment in the short term and improving the liquidity of the stock market ", Lei Meng and Eric Lin, two analysts of UBS said. In short term, the move reduced the mandatory reserve rate of the Central National will benefit the areas of "sensitive" with liquidity, as a single, such as aerospace and defense, electronics, information and communication technology
Also, UBS professionals also predict public The company with high profit forecast can also become superior, such as companies operating in the field of electric vehicles, batteries, and new energy. However, the recovery of the market can take place In a short time due to concerns about China's economic growth in slowly, UBS experts warn. "The reduction of compulsory reserve ratio was some level Increasing concerns of securities investors that economic recovery in the second quarter and the third quarter / 2021 may not be as good as the market expected, "UBS experts said." From their opinion I, in case there is no redirect to loosening monetary policy, additional liquidity (through release of about 1,000 billion yuan) will not be able to promote sustainable recovery market ". of UBS, investors are worried about China's economic recovery rate in the second quarter and the third quarter / 2021 weakened and this weighed on the areas of banking, insurance, and consumption. Leaving the impact on corporate profits, analysts believe that the move to lower the mandatory reserve ratio of the Central Bank of China, also signaled that the country has gained the risks for the increase Chief. "It is a signal, a message that the authorities are paying attention and vigilance of the ability to recession risks," said Andrew Tilton, specializing in G Ia economic region Asia - Pacific at Goldman Sachs Bank commented. The analysts of Eurasia Group said: "This move (China lowered the required reserve ratio) to pump 1,000 billion yuan on the economy, is a perception of negative impacts on corporate profits, financial and growth stability ". Other, Vishnu Varathan, Head of Economic and Strategy At Mizuho Bank, the recent move did not overshadowed the cautious monetary policy of the Chinese central bank which was made based on strongly relaxing. Varathan said China is focusing For credit adjustments to limit credit flowing for bubble or speculation fields, simultaneously enhance credit for small and medium enterprises
According to this expert, the foundation in Beijing's policy calculations is still minimizing the accumulation of financial risks. . Dịch vụ:
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