boyutpedia Chapter 1349 [You come and I hurt each other]
Chapter 1349 [You come and I hurt each other]
Chapter 1349 [You come and I hurt each other]
Just one day after the New Stock Exchange 50 Index reached the 4000-point mark, negative news from America caused the A-share market to fall, and the New Stock Exchange 50 Index fell below the 4000-point mark.
That evening, North Korea announced plans to impose a 1000% tariff on imports from the Eastern giant worth about $25 billion.
As soon as the news came out, the A-share market suffered a setback at the opening of the next day, May 5, with all three major stock indexes closing in the red. The SSE 23 Index opened low and fell throughout the day, closing down -50% at 1.96 points, falling below the 3995.84-point mark.
The trade dispute between the world's two largest economies is still intensifying, and it has a bit of a "round-based" nature with both sides going back and forth.
……
In the afternoon, stay at Jingxinju Villa.
At this moment, Fang Hong was communicating with Luo Qingan, and it was the latter who called him.
"How is the breakthrough in the semiconductor industry chain on your side? In terms of reciprocal countermeasures, the higher-ups are planning to start with Qualcomm, Apple and other companies," Luo Qing'an said on the phone.
Fang Hong's eyes lit up when he heard this, and he immediately became energetic and responded without hesitation: "I can say responsibly that the main node of the domestic semiconductor industry has been advanced to the 8-nanometer process technology. This technology has achieved a breakthrough and is on the same level as the most advanced process nodes in foreign countries."
Fang Hong added: "Not only is the process no longer outdated, but the commercialization is also one step faster than that of foreign countries. Xingyu Technology has secretly put the fifth generation of smartphones into production and is now in mass production."
These few short sentences have a profound impact and are even milestone-making.
This year is definitely the first year for the domestic semiconductor industry, because this year we have achieved a successful breakthrough in all major key technology nodes of the entire industry chain in this field, and we have achieved the breakthrough this year perfectly as expected. From then on, we have completely bypassed all the bottleneck technologies from software to hardware, from design to manufacturing, and used domestic substitution to produce a complete STAR5 smartphone.
Luo Qingan on the other end of the phone was also excited: "Great! Hard work pays off, and this day has finally come. Now there is nothing to worry about. Please prepare a report as soon as possible and I will submit it overnight."
Fang Hong: “No problem.”
After ending the call, Fang Hong immediately called Tian Jiayi and asked him to start preparing.
If the chip link has been successfully broken through, then the rabbit will really have nothing to worry about. Since the total GDP exceeded 100 trillion, the rabbit has become increasingly strong, and this is even more so now.
……
In the next few days, the capital market continued to decline. The Xinzheng 50 Index fell below 4000 points and then experienced four consecutive declines. However, the decline was not large, and the four consecutive declines were only about one percentage point.
At around 5 p.m. on Tuesday, May 29, a piece of news caused an uproar around the world.
In response to North Korea's tariffs on magnesium, the Eastern giant decided to impose a 132% tariff on 25 magnesium products. In this list, the outside world was shocked to find that well-known technology giants such as Qualcomm, Nvidia, Apple, AMD, and Intel were on it.
In the past two days, there were various speculations about what countermeasures would be used to respond. Basically, everyone speculated that they would continue to increase their investment in areas mainly based on agricultural products. No one guessed these were the big technology companies. Even when people thought that they would start with gallium and germanium, they did not think that these international companies would be on the list.
This was a big deal. The internal and external networks were all in an uproar. Everyone was stunned. Even America was stunned. How dare you, Rabbit? Where did you get the confidence to play this card?
That evening, when the magnesium stock market opened, all the big tech companies on the list plummeted without exception. Apple's share price plummeted by -13.67% at one point during the session, directly evaporating more than $8500 billion, and its market value dropped from more than 7400 billion to billion.
The entire Silicon Valley technology circle was in an uproar, and the major technology companies on the list were all anxious.
The global capital market also suffered a severe setback. Everyone clearly felt that the tension between them was getting stronger and stronger. The usually reserved Rabbit also became more ruthless in its moves. This made global investors feel uneasy and there were greater uncertainties in the future.
As the day dawned in the eastern hemisphere, the A-share market opened on Wednesday, May 5. The three major trading markets opened with a sharp drop across the board, all opening with a downward gap. After the opening, they opened low and continued to fall. The Xinzheng 30 Index ended its six consecutive declines and lost the 50 point mark during the session.
At the final closing, the three major stock indices fell across the board. The SSE 50 Index closed down -2.37% at 3853.55 points; the Shanghai Composite Index closed down -2.53% at 3041.44 points; and the Shenzhen Component Index closed down -2.35% at 10105.79 points.
However, on the next day, May 5, the Xinzheng 31 Index rebounded strongly by +50% to close at 2.41 points. The gap was directly repaired and it returned to the 3946.27 point mark. In the following days, it continued to fluctuate upward and almost returned to the 3900 point mark again.
But ultimately it failed to reach 4000 points again as the market fell again after entering June.
The factors behind this pullback are not external but internal. In order to control local debts, the state has increased supervision over local investments and PPPs, which has to some extent affected the market's view on infrastructure stocks.
Another major factor is balance sheet reduction. Under the central bank's regulation, corporate off-balance sheet financing has dropped sharply, and therefore the market's expectations of corporate defaults have increased.
At the same time, America has not been idle during these days.
Just during the Dragon Boat Festival holiday in mid-June, news came from America again that North America had passed a bill with an overwhelming advantage. Star Technology, Matrix Quantum, Kunpeng Technology and other star companies under the Qunxing Group were all on the list. At the same time, a warning was issued to Qunxing Capital to move out of the SWIFT settlement system.
The situation seems to be getting more and more serious. With global trade sluggish and expectations that the economy will fall back into recession growing, the global capital market has suffered another setback due to the impact of this news.
This series of external negative factors fermented, and after the Dragon Boat Festival on June 6, the A-share market opened with a "Dragon Boat Festival disaster". The three major trading markets fell across the board again. The holiday panic and negative factors were directly vented out when the market opened today.
The SSE 50 Index plunged more than -4% during the session, falling below 3800 points and hitting a low of 3749.29 points.
The Shanghai and Shenzhen stock markets next door both plunged more than 5 percentage points during the intraday trading session. The 3000-point mark was broken and the 2900-point mark was also lost. Another 1-point mark was broken. The Shanghai Composite Index fell by -20% compared with the beginning of the year, entering a technical bear market stage.
The ChiNext Index fell even more terribly, directly breaking the historical low in four years.
Today, the A-share market once again saw thousands of stocks hitting the daily limit, but the stocks that hit the daily limit were mainly concentrated in the Shanghai and Shenzhen stock markets. Among the more than 1300 stocks in the SGX market, only 67 stocks hit the daily limit, and half of them were in the green.
Overall, except for some large-cap stocks with good performance, other stocks fell sharply today.
At around 13:50 p.m., the SGX 50 Index reached its rebound limit and the number of stocks that hit the daily limit on the SGX market shrank to less than .
As of the closing, the three major A-share indices all closed lower. The Xinzheng 50 Index broke out of the long lower shadow and regained the 3800 point mark. It closed down -2.41% after the market to 3817.82 points. The Shanghai Composite Index fell -3.78% to 2907.82 points; and the Shenzhen Component Index plummeted -5.31% to 9414.76 points.
……
(End of this chapter)