The Federal Reserve raised the benchmark interest rate to the range of 0.25%-0.5%. After a continuous decline, most Chinese stocks rebounded rapidly in the past two days, and some Chinese stocks have recovered their losses this year.
The Federal Reserve announced a rate hike
CCTV News reported that on March 16, local time, the Federal Reserve issued a policy statement announcing the raising of the benchmark interest rate to the range of 0.25%-0.5%. Federal Reserve Chairman Powell said at a press conference held on the same day that the Federal Reserve will begin to reduce its holdings of nearly $9 trillion in balance sheet assets at the following policy meetings. This is the first rate hike since December 2018.
The Federal Reserve issued a signal on the same day that it is expected to raise interest rates six times this year. The market generally believes that the benchmark interest rate is likely to reach 1.9% by the end of 2022. The Federal Reserve Policy Development Committee hinted that interest rates will be raised three times in 2023 and raised inflation expectations for 2022, 2023 and 2024.
Last night, the three major U.S. stock indexes opened high and closed high, and fluctuated significantly during the session after the Federal Reserve announced a rate hike. The Dow Jones Industrial Average and S&P 500 once turned green, and then rebounded violently again to the intraday high. As of the close, the Dow Jones Industrial Average rose 1.55%, the Nasdaq rose 3.77% as its biggest increase this year, and the S&P 500 rose 2.24%.
Previously, the market had certain expectations for the Fed's interest rate hike. It is generally believed that it will announce a 25 basis point interest rate hike. The Fed will raise interest rates 6 to 7 times in 2022. The result of this interest rate hike is basically in line with market expectations. US stocks rose rapidly again after a short period of fluctuation, and eventually rose slightly compared to the level before the interest rate hike.
Chinese stocks continue to stage a "Great Miracle Day"
After continuous declines, most Chinese stocks rebounded rapidly in the past two days. Last night, Zhihu soared by 79.17%, and Kingsoft Cloud rose by 72.27%. During the rebound in the past two days, Kingsoft Cloud's stock price has doubled, with a cumulative increase of 116.02%. Dingdong Maicai, Beike and Douyu all rose by more than 60%, while JD.com, Baidu and Alibaba all rose by more than 30%.
Some Chinese stocks have recovered their decline this year, and Baidu's annual gains have turned positive, with a cumulative increase of 1.4%. Ctrip, NetEase and JD.com narrowed their declines, with a cumulative decline controlled within 10%.
Yesterday, the Financial Stability and Development Committee of the State Council held a special meeting. The meeting pointed out that regarding Chinese stocks listed in the United States, the regulatory agencies of China and the United States have maintained good communication, made positive progress, and are committed to forming specific cooperation plans. The Chinese government continues to support all types of enterprises to go public overseas. The special meeting effectively boosted market confidence, and many Chinese stocks listed have achieved the highest increase since their listing.
Domestic oral small molecule new coronavirus drug
First released phase I clinical data
Last night, Junshi Biologics issued an announcement that the results of three phase I clinical studies of the oral nucleoside anti-new coronavirus drug VV116 tablets jointly developed by the holding subsidiary Juntuo Biologics and Wangshan Wangshui were published. The research results showed that VV116 showed satisfactory safety and tolerance in healthy subjects, and repeated administration can maintain effective antiviral concentrations. This is the first time that domestic oral small molecule anti-COVID-19 drug has released phase I clinical data.
Previously, Pfizer's new coronavirus treatment drug Paxlovid has been approved conditionally in my country. China Pharmaceutical will be responsible for the agency operation of the product in 2022, and has won 8 daily limits in the past 11 days. Shouchuang Securities believes that considering Pfizer's limited production capacity, high pricing and stable supply chain factors, domestic oral drugs for new crown will still have a huge market. At present, many domestically produced new coronavirus drugs RdRp inhibitors have entered the third phase of clinical trials, including Junshi Biologics, Real Biologics, etc. Domestic 3CLpro inhibitors are still in the early stages of research and development, and currently cutting-edge biology (injectables) have entered the first phase of clinical practice.
Securities Times·Databao statistics show that there are 39 stocks in A shares that have laid out new crown therapeutic drugs and industrial chains. Yesterday, Hit Biologics and China Pharmaceutical hit the daily limit, and others include Minova, Shanghai Kaibao and Fosun Pharmaceutical, which have the highest growth rates.
statistics show that 31 concept stocks have announced their 2021 annual performance forecast, of which 17 stocks are expected to increase their performance. Judging from the median net profit expected year-on-year growth, Lisheng Pharmaceutical, Haichen Pharmaceutical and Haite Biotechnology are expected to increase, with growth rates of 1312.6%, 431.7%, and 220.88%, respectively.
Fund flow upward, some concept stocks have been favored by northbound funds. In March, a total of 7 shares were increased, and the holdings of Hongri Pharmaceutical, Yiling Pharmaceutical and Feikai Materials increased by more than 1 million shares. Hongri Pharmaceutical stated that the company's main product Xuebijing Injection has shown good efficacy and safety in the clinical practice of treating severe and critical cases of COVID-19, and is recommended by the State Administration of Traditional Chinese Medicine to include the "three medicines and three prescriptions" for anti-epidemic traditional Chinese medicine.
Original title: The Federal Reserve raises interest rates as scheduled, and Chinese stocks listed in the US continue the "Great Miracle Day". Good news is spread by domestic oral drugs for new crown, and the list of high-performance concept stocks is released
Source: Databao
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