降准又降息！三大指数集体高开，金融、房地产涨幅居前！A50直线拉升（附历次调整后A股表现）

Market Performance - On May 7, A-shares opened significantly higher, with the Shanghai Composite Index up 1.17%, the Shenzhen Component Index up 1.35%, and the ChiNext Index up 1.91% [1] - Financial and real estate sectors led the gains, with major financial stocks collectively opening higher, including notable increases in brokerage and diversified financial firms [1] - The Hong Kong market also performed well, with the Hang Seng Index up 2.24% and the Hang Seng Tech Index up 2.72%, driven by strong performances in real estate and financial stocks [1] Monetary Policy Announcement - The People's Bank of China announced a 0.5 percentage point reduction in the reserve requirement ratio, injecting approximately 1 trillion yuan into the market, along with a 0.1 percentage point decrease in policy interest rates [2] - Additionally, a 0.25 percentage point reduction in personal housing provident fund loan rates was announced [2] Support for Consumption and Stability - A new 500 billion yuan re-lending program was established to support consumption and pension sectors, aimed at providing low-cost funding to key areas [3] - The China Securities Regulatory Commission emphasized efforts to maintain market stability and improve responses to external risks [3] Historical Market Reactions - Historical data indicates that the most significant market reactions followed previous reserve requirement ratio cuts, with the Shanghai Composite Index rising by 8.06% and the Shenzhen Component Index by 10.67% the day after the last cut on September 27, 2024 [4][6] - The average next-day increase for the Shenzhen Component Index after recent cuts is 2.34%, compared to 1.15% for the Shanghai Composite Index, indicating a higher sensitivity of growth stocks to liquidity improvements [7]