China Market Update: Premier Li Gets Forceful As Market Stabilization Fund Proposed [Forbes]
CHINA MRCHNTS BK UNSP/ADR (CIHKY)
NASDAQ:AMEX Investor Relations:
english.cmbchina.com/cmbir/home.aspx
Company Research
Source: Forbes
Hong Kong and Mainland China had a strong move starting mid-morning following Bloomberg's report that an RMB 2 trillion ($278B) market stabilization fund will be formed “according to people familiar with the matter”. Yesterday, the State Council's post-meeting statement included Premier Li advocating for more “forceful” measures to be implemented to “stabilize the market”. The reported plan would utilize overseas profits from state-owned enterprises (SOEs) to buy Mainland China-listed stocks via Northbound Connect, thus requiring a conversion from US dollars to CNY. CNY rebounded versus the US dollar to 7.17 CNY per USD from yesterday's 7.19, though the Asia dollar index was up. Unlike the US, neither Mainland China nor Hong Kong have circuit breakers. Thus, both markets are stuck in a negative feedback loop of forced selling, creating more forced selling against the absence of buyers. In the summer of 2015, during the Mainland market's margin-driven equity bubble burst, margin cal
Show less
Read more
Impact Snapshot
Event Time:
CIHKY
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
---|---|---|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
Last Price | ||
VWAP | ||
High:
|
Max Up |
High:
|
Low:
|
Max Down |
Low:
|
%
|
Post news range |
%
|
|
Price change |
|
|
Price Change Percentage |
|
|
S&P 500 (SPX) |
|
%
|
Volume ratio |
%
|
Volume | ||
Ticks | ||
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
CIHKY alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
CIHKY alerts
High impacting CHINA MRCHNTS BK UNSP/ADR news events
Weekly update
A roundup of the hottest topics
CIHKY
News
- China Market Update: Mainland Sees Massive Buying, Hong Kong Growth Flies, Week In Review [Forbes]Forbes
- ASHR: China May Finally Be 'Investable' Again [Seeking Alpha]Seeking Alpha
- AM Best Affirms Credit Ratings of CMB Wing Lung Insurance Company Limited [Yahoo! Finance]Yahoo! Finance
- China Merchants Bank: Pulling Back As Sector Headwinds Warrant Caution [Seeking Alpha]Seeking Alpha
- Gold Beans All the Rage With China's Gen Z as Deflation Bites [Yahoo! Finance]Yahoo! Finance