Group 1 - The core point of the news is the appreciation of the Chinese yuan, which has reached a midpoint of 7.10 against the US dollar for the first time since November last year, indicating a strengthening trend in the currency [1][4]. - The offshore yuan has seen a significant rise, gaining over 100 points following the midpoint adjustment, reflecting positive market sentiment [4][6]. - The rebound in equity assets is noted, with the latest data from the National Bureau of Statistics showing a year-on-year decline in PPI of 2.3% for September, but a narrowing of the decline by 0.6 percentage points compared to the previous month [3][5]. Group 2 - Analysts attribute the yuan's appreciation to two main factors: increased expectations of interest rate cuts and the end of balance sheet reduction by the Federal Reserve, alongside a rebound in domestic price indices [5][8]. - The core CPI rose by 1.0% year-on-year in September, marking the first return to a 1% increase in nearly 19 months, indicating positive changes in some industry prices [5][6]. - The market has reacted positively, with major stock indices in Hong Kong and mainland China showing significant gains, driven by the favorable yuan movement [6][7]. Group 3 - The stability of the yuan is highlighted as being stronger compared to the stock and bond markets, suggesting a potential opening for further appreciation [7][8]. - The recent trade tensions and the depreciation of the US dollar have contributed to the yuan's strength, with the dollar index dropping significantly [7][8]. - The narrowing of the 10-year China-US interest rate differential and the easing of liquidity in the US market are also influencing the yuan's performance [7][8].
人民币发出重大信号，升值窗口开启？中国资产迎来大利好！
Sou Hu Cai Jing·2025-10-15 09:50