CSI300 gained 1.3%
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There are only three trading days this week. The CSI 300 rose 1.3% this week on volume below the average and lower than the last week. The market condition was Rally Attempt. The index rebounded quickly after hitting a new recent low during the session on Wednesday. Support turned to Wednesday’s new low of 3146 and resistance remains at the 21DMA. Both the one-year and five-year Loan Prime Rates (LPRs) remained unchanged in September. On Wednesday afternoon, the Federal Reserve announced an interest rate cut of 50 basis points for the first time since March 2020, lowering the target range for the federal funds rate to 4.75%-5%, marking the start of a new U.S. interest rate cut cycle. Tensions in the Middle East intensified again this week with a succession of BP and walkie-talkie bombing terrorist attacks in Lebanon. Investors are advised to exercise caution and wait to take the index back up to the 21DMA.
Leading: Real Estate (+6.9%), Energy (+3.0%), Consumer Cyclical (+2.5%); Lagging: Healthcare (-0.8%), Consumer Staple (-0.0%), Utility (+0.4%).
【A33】portfolio fell 0.5% with 14 stock up and 19 down. A modern enterprise specializing in the development and manufacture of automotive parts Ningbo Sngn Auto Parts (300100) led the gains. The stock rose 5.0% this week. RS and AD ratings were 99 and A-. DG rating was 70.
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published on September 20, 2024