3/20/2021 Financial News: RMB and CCP’s Stock Market Closed at A New Low As The CCP-US Summit began

Image source

1.RMB Closed At A New Low
On March 19, the spot exchange rate of RMB against the U.S. dollar closed down slightly on Friday, setting a new low in more than a week. The official closing price of RMB against the US dollar in the onshore market today was 6.5045, showing a 0.04% depreciation from yesterday’s 6.5017. The median price is 6.5098, showing a 0.37% depreciation from yesterday’s 6.4859. According to Reuters analysis, the so called high-level strategic dialogue between China and the United States has not yet had a significant impact on the exchange rate.

2.Shanghai Stock Market Composite Index Closed As Low As 1.69%

The Chinese stock market closed lower on Friday (March 19) and fell 1.4% on a weekly basis. The first face-to-face meeting with senior Chinese and US officials after the Biden administration took the stage was struggling at the beginning, which made risk sentiment worse and caused the market to sell under pressure. The Shanghai Composite Index closed down 1.69% to 3,404.66 points. The Shanghai and Shenzhen 300 Index closed down 2.62%. The Shenzhen Composite Index closed down 1.9%, and the Growth Enterprise Index closed down 2.809%.

3.CCP Central Bank: In February 2021, The Inter-bank Money Market Transactions Totaled 60.8 Trillion Yuan

The CCP Central Bank released the financial market performance in February 2021. Data show that in February, the inter-bank money market transactions totaled 60.8 trillion yuan, showing a year-on-year increase of 4.9% and a month-on-month decrease of 32.9%. In February, spot bond transactions in the inter-bank bond market were 10.9 trillion yuan, with an average daily turnover of 640.38 billion yuan, representing a year-on-year increase of 30.4% and a month-on-month decrease of 20.9%.

4.50 Russian Dairy Companies Are Allowed to Export To China, Impacting Australia’s Market Position

Since the beginning of 2021, China has imported nearly US$822 million in agricultural products from Russia. According to Russian media reports, on March 18, five more Russian dairy products companies were included in the list of Russia’s dairy products suppliers to China. This Chinese media report said that by 2024, the scale of my country’s dairy products market is expected to exceed 550 billion yuan. According to the CCP, as China’s requirements for product “quality” become more stringent, Australian dairy products may not be able to compete with the Chinese market.

Comment: By kidnapping 1.4 billion people, the CCP exchanged economic threats for political advantage.

5.Nantong Housing Prices Continue to Skyrocket

Nantong is the only city in the Shanghai-surrounding metropolitan area that has no purchase restrictions. With the opening of Nantong West Railway Station, Shanghai Third Airport was confirmed to settle in Nantong. Housing prices in Nantong buildings continued to rise and the mortgage business was busy. In February, the average transaction price of commercial residential buildings in Nantong was 25,833 yuan per square meter, an increase of 6.68% from the previous month. The “Land King” R19012 plot of Zhongchuang was bid by Shanghai Vanke Enterprise Co., Ltd. for 3.149 billion yuan. The floor price was 18,405.66 yuan per square meter, and the premium rate was as high as 44.92%.

6.Dow, S&P 500 Dragged Lower By Bank Stocks

The S&P 500 and the Dow dropped on Friday with banks leading the way after the U.S. Federal Reserve said it would not extend a temporary capital buffer relief put in place to ease a pandemic-driven stress in the funding market. The S&P 500 bank stocks shed about 3% as the Fed’s move means banks will have to resume holding an extra layer of loss-absorbing capital against U.S. Treasuries and central bank deposits from next month. At 11:31 a.m. ET, the Dow Jones Industrial Average fell 270.66 points, or 0.82% , to 32,591.68, the S&P 500 lost 12.31 points, or 0.31%, to 3,903.14 and the Nasdaq Composite gained 38.42 points, or 0.29%, to 13,154.55.

By 【Financial Team – 雪梨Cheli】

News Collection: Totoro

+2
1 Comment
Inline Feedbacks
View all comments
LisaGoodwin
22 days ago

Start generating extra cash online from home more than $52k by doing very easy work just in spare time. Last month dcf I got paid $52745 from this easy home job. Join this job right now and make more cash every month online. Just follow the web link here to get started…… 𝖂𝖜𝖜.𝕱𝖔𝖝72.𝕮𝖔𝖒

0

秘密翻译组G-Translators

秘密翻译组需要各类人才期待战友们的参与: https://forms.gle/bGPoyFx3XQt2mkmY8 🌹 欢迎大家订阅 - GTV频道1: https://gtv.org/user/5ed199be2ba3ce32911df7ac; GTV频道2: https://gtv.org/user/5ff41674f579a75e0bc4f1cd Mar. 20