Group 1: Key Insights - The People's Bank of China conducted a buyback of special government bonds worth 400 billion RMB, leading to a significant appreciation of the RMB, which rose nearly 300 basis points, surpassing the 7.1 mark against the USD [2][8] - Huawei reported a sales revenue of 417.5 billion RMB for the first half of 2024, representing a year-on-year growth of 34.3%, with a net profit margin of 13.2% [11][22] - The government is focusing on improving the market access system, emphasizing a negative list approach to clarify which industries are restricted or require permission for investment, aiming to enhance market entry efficiency and reduce barriers [9][10] Group 2: Market Overview - The domestic securities market showed mixed performance, with the Sci-Tech 100 index gaining the most at 3.1%, while the average daily trading volume was 604.28 billion RMB [2][19] - Among the Shenwan first-level industries, the media sector saw the highest increase of 4.4%, followed by power equipment and comprehensive sectors, both at 4.3% [16][18] - Tesla's global delivery volume reached 1,808,581 vehicles in 2023, a 38% increase from 2022, solidifying its position as the leading new energy vehicle manufacturer [11][12] Group 3: Investment Recommendations - Focus on high-dividend sectors such as banking and oil & petrochemicals, as well as industries with stable growth like electronics, automotive, and public utilities that may benefit from pricing mechanisms [3][21] - New productivity-related sectors such as artificial intelligence and low-altitude economy are highlighted as potential investment opportunities [3][21] - Long-term investment opportunities in gold are also suggested [3][21]
宏观策略周报：央行开展公开市场业务现券买断交易，人民币汇率升值突破7.1整数关口
Yuan Da Xin Xi·2024-08-31 03:25