China News Agency, Beijing, May 20 (Reporter Chen Kangliang) On the 20th, China's A-shares continued to rise, and all major stock indexes rose.

Among them, the representative Shanghai Composite Index rose by more than 1%, successfully breaking the 3,100-point mark.

  As of the close of the day, the Shanghai Composite Index reported 3,146 points, an increase of 1.6%, with a turnover of 415.3 billion yuan (RMB, the same below); the Shenzhen Component Index reported 11,454 points, an increase of 1.82%, with a turnover of 505.4 billion yuan; the ChiNext Index reported 2,417 points, an increase of 505.4 billion yuan. 1.69%.

  Li Daxiao, chief economist of Yingda Securities, said that the rise of A shares that day was mainly due to the positive boost from the central bank's interest rate cut and other policies.

The central bank’s interest rate cut this time is a major piece of good news. The interest rate cut is strong and firm, which can effectively reduce long-term financing costs and play an important role in stabilizing economic growth, especially the real estate market. It also has a positive effect on stabilizing the stock market.

  On the 20th, the People's Bank of China authorized the National Interbank Funding Center to announce the latest loan market quoted rate (LPR).

Among them, the LPR of more than 5 years for mortgage interest rates was 4.45%, a decrease of 15 basis points from the previous month, the largest decline in history.

  Yang Chang, head of the policy group of the China-Thailand Securities Research Institute, analyzed that the recent continuous adjustment of the LPR with a period of more than 5 years reflects China's official intention to increase the stimulus policy.

The 5-year LPR remains stable from April 2020 to January 2022.

By January 20, 2022, the 5-year LPR will be lowered by 5 basis points for the first time, and today's second reduction has reached 15 basis points, reflecting the official policy intention of continuous stimulus and enhanced stimulus.

From the perspective of asset performance after interest rate cuts in the past, the stock market has benefited, especially the growth-oriented ChiNext index tends to perform better.

  In terms of specific sectors, the vast majority of A-share sectors rose that day.

Among them, logistics, Internet e-commerce and other sectors were the top gainers, up 3.28% and 3.21% respectively.

  Xu Xu, an analyst at Guohai Securities, said that with the gradual achievement of the goal of social zero in Shanghai, the logistics and express delivery industry is also on the road of steady recovery.

The COVID-19 epidemic will not change the overall trend of the industry in the medium and long term. The outstanding performance of various logistics companies in the first quarter verifies the logic of the improvement.

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