Manulife TEDA Fund a stable exchange rate rise in lending rebound period – fund channel-soojin

Manulife TEDA Fund: stable exchange rate credit surge, A shares rebound period – fund channel February 16th, in the global market rebound in the background, the two cities opened higher and higher, the stock index increased by 3% over the day, and back to 2800 points, subject shares and heavyweight shares soared. Two cities today traded heavy volume, the Shanghai Stock Exchange 198 billion 969 million yuan, 301 billion 370 million yuan turnover in Shenzhen, two cities total turnover of 500 billion 339 million yuan, compared with the previous trading day growth of nearly 170 billion yuan, an increase of over 50%. At the close, the stock index at 2836.57 points, up 90.38 points, up 3.29%; deep index reported 10045.37 points, up 376.52 points, up 3.89%; entrepreneurship blackboard 2201.93 points, up 85.09 points, up 4.02%. TEDA Manulife Fund believes that the rebound in the two day after the market has the impact of exchange rate and economic factors. First of all, the RMB exchange rate changes during the Spring Festival, mainly during the Spring Festival in the United States lower, the global market for the dollar to increase interest rate expectations weakened, thereby reducing the pressure of RMB devaluation, currency stability. On the other hand, the market worries about the economy have been dispelled. Recently, Premier Li Keqiang proposed a series of policies and measures to support the economy in the future, including measures such as tax reduction and other obvious effects. In addition, the financial data sent a more positive signal. February 16th Central Bank released data show that in January loans increased by 2 trillion and 510 billion yuan, an increase of more than 1 trillion and 40 billion yuan, the data exceeded market expectations. January M1 year-on-year growth of 18.6%, is also the high point in the past three years. M1 is usually regarded as the cash position of enterprise’s daily operation activities, and the higher M1 growth rate also indicates the improvement of enterprise operation activities. At the same time, the credit data structure is relatively healthy, most of the long-term loans. The expansion of residents’ credit shows that real estate sales may continue to improve, which can be confirmed from the recovery of the property market from the first tier cities to second tier cities. From a risk perspective, the recent domestic policies and fundamentals were relatively stable, no higher risk factors, it is foreseeable that in March the Fed’s interest rate may again have an impact on the global market, so the "NPC and CPPCC" before the A stock market is expected to continue to rebound. From the perspective of the whole year, TEDA Manulife fund is still more in favor of the concept of emerging consumption. According to the international experience of consumption structure change, big health and entertainment are the leading industries in the future. These are the long-term investment direction that we pay attention to.

泰达宏利基金:汇率稳定信贷猛增 A股反弹可期-基金频道   2月16日,在全球市场回暖背景下,两市高开高走,沪指全天涨幅超3%,并重新站上2800点,题材股与权重股齐飙升。两市今日成交明显放量,沪市成交1989.69亿元,深市成交3013.70亿元,两市共成交5003.39亿元,较上一交易日增长近1700亿元,增量幅度超50%。   截至收盘,沪指报2836.57点,涨90.38点,涨3.29%;深指报10045.37点,涨376.52点,涨3.89%;创业板报2201.93点,涨85.09点,涨4.02%。   泰达宏利基金认为,节后两天市场的反弹有汇率和经济等方面因素的影响。首先是春节期间人民币汇率的变动,主要是美元在中国春节期间走低,全球市场对美元再次加息的预期减弱,从而使得人民币贬值压力减小,币值稳定。   另一方面是市场对经济的担忧有所消解。近期李克强总理提出未来会有一系列政策措施出台以支持经济,包括减免税收等效应比较明显的措施。   此外,金融数据传递出比较积极的信号。2月16日央行发布的数据显示,1月份贷款增加2.51万亿元,同比多增1.04万亿元,这一数据超出市场预期。1月M1同比增速18.6%,也是过去三年的高点。M1通常视为企业日常经营活动的现金头寸,M1增速较高也预示着企业经营活动的改善。   同时信贷数据的结构也比较健康,中长期贷款居多。居民方面信贷的扩张表明房地产销售可能正在继续改善,这一点可以从楼市复苏从一线城市向二线城市传导相印证。   从风险的角度来看,近期国内政策面和基本面均较为平稳,没有较大的风险因素,可预见的是3月份美联储的议息可能会再次对全球市场产生影响,因此在“两会”之前A股市场的反弹有望继续。   从全年的角度来看,泰达宏利基金依然比较认可新兴消费的概念。根据消费结构变迁的国际经验,大健康和大娱乐是未来主导产业的龙头,这些都是我们关注的中长期投资方向。相关的主题文章:

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