政策大禮包頻出！中國資產能否持續回暖？
[Investment Hot Topics] What impact does the 500 billion convenient swap have on the stock market? Which sectors will benefit?
After experiencing a two-day sharp decline, the Hong Kong stock market finally rebounded!$Hang Seng Index (800000.HK)$ Rises nearly 3% on October 10th.
The reason is that on the morning of October 10th...The central bank's first phase of 500 billion currency swap facilities has been implemented.，The speed far exceeds everyone's expectations!
So what is the swap facility? What impact does it have on the stock market? Which sectors will benefit? How is the future outlook?
In this article, Mr. Bull provides everyone with a key analysis!
What is a swap facility?
The full name of the swap facility is "Securities, Funds and Insurance companies Swap Facility (SFISF)".
Simply put, it allowsCSI All Share Investment Banking & , fund companies, insurance companiesUsing these assets such as bonds, etf, blue chip stocks in their hands to mortgage at the central bank and lend out.National debt, billsThese high liquidity assets.
The key is that institutions use the funds obtained through this tool only for investing in the stock market.Investing in the stock market.The initial scale is 500 billion yuan, and the scale may be expanded in the future depending on the situation.
The convenient way of operation is not to directly give out money, but to exchange securities, non-bank institutions use stocks as collateral to borrow bonds from the central bank, sell them to trading counterparties in the secondary market, and the funds obtained can only be invested in the stock market. This not only curbs the rapid decline of long-term government bond interest rates but also provides liquidity to the stock market, achieving two goals with one stone.
What impact does it have on the stock market?
Although the central bank emphasizes that the convenience of swaps does not affect the distribution of base currency, from international experience, the Fed's introduction of similar TSLF (Term Securities Lending Facility) during the subprime mortgage crisis played an important role in quickly stabilizing the financial markets.
Through SFISF, it can greatly enhance the funding capabilities and shareholding abilities of non-bank financial institutions, allowing companies to repurchase or increase shareholdings in the stock market, not only increasing stock liquidity, but also bringing active "water" to the stock market, providing incremental capital.Improve stock liquidity, alsoBrings "water" to the stock market, providing incremental funds。
In the words of Pan Gongsheng, "as long as this matter is done well, the first phase is 500 billion yuan, there can be another 500 billion yuan, and even a third 500 billion yuan can be done," implying continuous ammunition supply to the stock market, which is good news for the stock market.
Which sectors will benefit?
Guosheng Securities believes that the policy of convenience exchange will support.High dividend company strategy。
For companies with high dividend yields, there may be potential arbitrage opportunities. Shareholders can increase their holdings at a lower cost, potentially increasing the dividend rate and attracting more investors seeking stable income.
For example, if a company's dividend yield is 4%, major shareholders can borrow 200 million yuan at an interest rate of 2.25% for shareholding.，Dividend income is 8 million yuan. After deducting 4.5 million yuan of loan interest, the net income is approximately 3.5 million yuan.This interest rate differential income can exist for a long time, and increase with the increase of dividend yield, which will encourage major shareholders to increase their holdings more actively and increase the dividend payout ratio.。
Actions to increase dividends and holdings of stocks may attract more investors to buy their stocks, which may further drive up stock prices.
So on October 10th, the Hong Kong high dividend stocks sector performed relatively well, such asinsurance sector和coal sector。
How to invest in high dividend sectors.
With so many high dividend stocks in the market, how can you find the high dividend company that you like? Futubull has many tools to help everyone, here are three tools that can help you easily find the high dividend stocks:
- First, lookdividend ranking(Click the blue link to go directly to the page), when investing in high dividend stocks, the key is to look at the dividend yield. Mooers can use tools to rank dividends and easily find high dividend stocks.
- Next, look atdividend stability, high dividends do not necessarily mean good. It is also important to look at the stability of dividends. Companies that can consistently pay dividends indicate a relatively stable operation with strong cash flow, making these companies less risky.
– Finally, watchDividend distribution calendar(Click on the blue text to go to the page)，This tool can help you find out when a company will distribute dividends, plan ahead, and secure dividend income.
If you're too lazy to pick individual stocks, you can also consider using ETFs to invest in high dividend yield sectors. Here are the top four Hong Kong high dividend yield ETFs ranked by asset size.The highest in terms of market cap is 0311, with a dividend yield of 6.74% and a price increase of 35.35% from the beginning of the year, truly a case of "earning both wealth and dividends".Among them, the stock with the highest market cap is 0311, with a dividend yield of 6.74% and a price increase of 35.35% year-to-date, truly a case of both financial gain and dividends.
How do you view the market in the future?
Can the short-term bull market continue? Investors need to pay attention to the intensity of the follow-up policies, which is key.Fiscal policy meeting this Saturday。
Since the People's Bank of China announced a series of monetary policies on September 24, China's assets have experienced a major uptrend. Subsequently, investors are more concerned about the details of fiscal policy. Because only the combination of monetary policy and fiscal policy may effectively stimulate the economy.
Many investors are currently expectinga 2 trillion, 5 trillionfiscal policy to be introduced to stimulate the economy.
If the policy meeting on Saturday exceeds expectations, it may further boost the stock market, but if the meeting falls short of expectations, it may lead to market volatility and fluctuations.
Maintain a positive mindset in volatile market conditions.
After experiencing the highs and lows of the Hong Kong stock market over the past two weeks, many mooers may be feeling a bit shaken. A negative mindset may lead to impulsive decision-making, resulting in buying high and selling low, earning less, or even losing money.
Here, Sir Bull shares two tips to stabilize your mindset:
1) Develop a trading strategy
It is difficult to determine whether the bull market will continue or where its peak is. Therefore, establish your own trading strategy. If you feel the market is overheated, you can choose to take profits. If you hold high-quality stocks and are bullish on the company's future prospects, then holding onto the shares firmly may also be a good option. Remember not to be swayed by market sentiment and stick to your own judgment and trading plan.
2) Try not to compare
The bull market is like a game of comparison. Some people may not be happy even if their stocks rise because they may not have outperformed their colleagues, beaten the market index, or caught those stocks that surged tenfold in the bull market. So, it's better to relax a bit. After all, you wouldn't envy a friend who won the lottery because you know it's not something you can achieve. Therefore, make money within your ability range and avoid unnecessary comparisons.
Finally, Sir Moo hopes everyone can make money in this market trend! Happy investing!
Risk Disclaimer: The above content only represents the author's view. It does not represent any position or investment advice of Futu. Futu makes no representation or warranty.Read more
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