May 8, Thursday

High-Level Voices: 
The central bank announced ten policy measures, including reserve requirement ratio cut, a 0.1 percentage point reduction in policy interest rates.

Overall Sentiment: 
Yesterday, a press conference by three ministries announced a series of policies, including reserve and interest rate cuts. Previously, the central bank hesitated to cut rates due to concerns over exchange rate depreciation pressure. However, with the U.S. dollar recently depreciating, the central bank gained room to lower rates. Yet, the market did not surge as it did in September, instead showing a classic pattern of opening high and closing low. The market hotspot was the military-industrial sector, benefiting from the India-Pakistan conflict. The positive impact from the press conference was minimal. China confirmed its agreement to engage in trade negotiations with the U.S., which is a significant influence on the market.