研究所日报-20260313

Economic and Policy Updates - The 14th National People's Congress concluded on March 12, approving key documents including the government work report and the 2026 national economic and social development plan[2]. - The central bank plans to implement a moderately loose monetary policy to create a favorable financial environment for sustained economic improvement[2]. Market Performance - On March 12, major A-share indices closed lower, with the CSI 300 down 0.36% and the ChiNext Index leading the decline with a drop of 1.24%[3]. - The market turnover was approximately 2.46 trillion yuan, a decrease of 677 billion yuan from the previous trading day[3]. Sector Analysis - The coal sector showed strong performance, rising by 4.24%, while the defense industry led the declines with a drop of 2.33%[3]. - Other sectors such as public utilities and agriculture also performed positively, increasing by 1.89% and 1.32% respectively[3]. Global Market Trends - Major global indices experienced declines, with the Nasdaq down 1.78% and the S&P 500 falling by 1.52%[3]. - In Europe, the CAC 40 decreased by 0.71%, while the DAX and FTSE 100 fell by 0.21% and 0.47% respectively[3]. Currency and Bond Market - The US dollar index rose by 0.48% to 99.74, while the offshore RMB against the dollar fell by 0.08% to 6.8821[4]. - The yield on 10-year government bonds decreased by 3 basis points to 1.807%[4].