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2024-12-13 04:37:55
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The operating rate of Russian refineries increased because the ban was lifted and gasoline exports resumed.Silver rose sharply, rising 4% in the day, and spot silver rose 4.00% in the day, and is now reported at $32.20 per ounce. COMEX silver rose 4.00% in the day and is now quoted at $32.85 per ounce.The price of natural gas in the United States rose by more than 3%, reaching the highest point in a week.


South Korean prosecutors arrested former defense minister Jin Longxian on charges of "sedition and abuse of power".The intraday increase of AUD/USD between the Australian dollar and the US dollar expanded to 1.00%, and it is now reported at 0.6463.IShares China large-cap ETF rose 8%, Kraneshares Shanghai-Shenzhen-China Internet ETF rose 10.3%.


Market information: Tim Kuniskis, the boss of Dodge and Ram, has returned to Stratlandis Stratlandis. Earlier in 2024, Tim Kuniskis resigned as an executive in Stellantis.China index rose by more than 10%, Fangduoduo rose by about 120%, YINN rose by more than 25%, Nasdaq Jinlong China index rose by more than 10%, and China stock index rose by more than 119%. YINN, Tiger Securities, Baozun KWEB-commerce, Xinyuan Real Estate, Futu Holdings, Financial Yitong and Dada rose by more than 20%, and bilibili, Land Control, Shell and Weilai.Interpretation of the Political Bureau Meeting in December by CITIC Securities: It is estimated that the reverse repo rate will drop by 40-50bps next year, and the LPR and loan interest rates may drop even more. CITIC Securities Research Report pointed out that a new round of policy starting guns will be fired, and the policy inflection point will be reconfirmed, making it clear that the macro policy will be strengthened and effective in 2025. From the perspective of fiscal policy, the meeting called for the implementation of a "more active fiscal policy" and enriched the policy toolbox, which may indicate that in 2025, both deficit ratio in a narrow sense and deficit ratio in a broad sense will be significantly improved, and the focus of policy development is also expected to be marginal in the field of people's livelihood consumption. From the perspective of monetary policy, this Politburo meeting calls for the implementation of a moderately loose monetary policy. This is the first time that China has implemented a moderately loose monetary policy after 2010. It is estimated that the reverse repo rate will drop by 40-50bps next year, and the LPR and loan interest rates may drop even more. From the perspective of domestic demand policy, the statement of expanding domestic demand in an all-round way, especially "vigorously boosting consumption", exceeds market expectations. With the support of the existing policies coming into effect and the policy of increasing domestic demand, the improvement of domestic demand may have strong certainty and sustainability. In addition, in terms of structural policies, on the one hand, the meeting clearly stated that it is necessary to "stabilize the property market and the stock market", and the importance of the stock market continues to be highlighted, and real estate is still in the policy landing period; On the other hand, the meeting emphasized that "scientific and technological innovation leads the development of new quality productive forces", and new industries and future industries are expected to receive further policy support.

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