China's stock market surges, international investors rush in! China sucks away hot money from the cryptocurrency circle, have speculators switched from cryptocurrencies to mainland A shares?
Recently, China's stock market has experienced a shocking rebound, all thanks to a series of economic stimulus measures launched by the government. With the strong rise in the stock market, some market analysts have observed that speculators may be withdrawing from the cryptocurrency market and investing in the A-share market in mainland China. This shift not only affects the trend of the cryptocurrency market, but may also have a far-reaching impact on the global market. Since last week, the Chinese government has announced major economic stimulus measures. In addition to injecting capital into the stock market, it has also tried to save the housing market. The People's Bank of China first cut the reserve requirement ratio by 2 basis points, releasing about 1 trillion yuan of liquidity to the financial market, and lowered the 7-day reverse repurchase operation rate by 0.2%. Then it lowered the interest rate on existing mortgage loans. Shanghai and Shenzhen even announced the relaxation of some housing purchase restrictions, and Guangzhou completely lifted the restrictions.
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