FEB 20. China lowered the rate…

Chun09
4 min readFeb 21, 2024

China’s Central Bank surprised the world today as lowering the 5-year load prime rate by 0.25%. They lowered the rate to 3.95% and it was much bigger than market expected. Despite of this big decision, Chinese stock market was not responding well today. Hong Kong’s Hang Seung Index was up only 0.2%. But Chinese Yuan rate have touched the lowest in three months, ended at 7.19 per US dollar.

Today, Chinese government have used one of the magic cards they have at last. If the economic status doesn’t get better soon after this, China might face even bigger problems than just recessions. That’s why Chinese government hesitate to use the card “LOWERING THE RATE”

Let’s see how it turns out.

US stock market was downed today.

Today was just a kind of day, remembering that FED wouldn’t lower the rate anytime soon. Lots of disappointing sellers in the market with some profits in their hands of course. NVIDIA showed the biggest declines in this year, downed by 4.3% today. WALMART hit the highest stock price ever today as their annual dividend raised to 9%.

DJ Index was downed by 0.2%, S&P 500 Index was downed by 0.6% and NASDAQ index was downed by 0.9%.

US players will watch closely what would happen to China and Asia this week. It’s important to see how the markets react on Chinese’s big lowering the rate decision.

Apple was downed by 0.4%, Amazon was downed by 1.4%, MS was downed by 0.3%, Tesla was downed by 3.1% today.

US dollar was weakened today. US dollar index was lowered 0.2%, ended at 104.08 points.

China have lowered the rate by 0.25%, Chinese RMB weakened. Euro was up by 0.3%, Pound was up 0.2% against US dollar. Japanese Yen was up 0.05%, ended at 150.04 yen per dollar today. This year, Japanese Yen lost 7% against US Dollar so far.

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Chun09

Trying every day, engraving what we’ve been through