RMB'S Remarks Are Favorable &Nbsp; Hong Kong Stocks Are High.

A spokesman for the people's Bank of China said yesterday that it would "further promote the reform of the RMB exchange rate formation mechanism and enhance RMB exchange rate flexibility". Although analysts believe that the appreciation of RMB against the US dollar in the short term is not large enough, plus half a year's "window dressing" effect, the relevant factors will stimulate the Hong Kong stock market to open higher today. However, there is still considerable resistance between the 20500 points and 20700 points of the Hang Seng Index, because the 50 day, 100 and 250 day moving average of the Hang Seng index is near this range.

The general interpretation of the above remarks is that China will resume the pace of RMB appreciation. However, a spokesman for the people's Bank of China clarified yesterday that China was further promoting the RMB exchange rate formation mechanism reform on the basis of 05 years' exchange rate reform, and the RMB exchange rate was not adjusted once again.

Ma Jun, chief economist of Greater China in Deutsche Bank, also pointed out that in the short term, the renminbi may not appreciate appreciable against the US dollar.

Peripheral performance stable A share trend

Guo Jiayao, vice president of China Business Department of Dafu securities, told our correspondent that the people's Bank of China's comments on enhancing the flexibility of the RMB exchange rate, coupled with the stable performance of the peripheral stock market last Friday, will open up Hong Kong stocks today. But he expected that the Hong Kong stock market would not open much today, from 100 to 150 points. However, the key to the Hong Kong stock market today is the trend of the mainland stock market.

Last Friday, the US Dow Jones index rose 16.47 points to 10450.64 points.

Short to 20500 to 20700 big resistance

Guo Jiayao believes that there is a big resistance between the 20500 points and the 20700 points of the Hang Seng Index. Because the current index 50 antenna 20467 points and the 250 antenna 20766 point are located in the interval, the material index will be consolidated in the interval before it will challenge 21000 points.

First, Ye Shangzhi, a Shanghai market strategist, told our correspondent that the above-mentioned remarks by the people's Bank of China on the RMB exchange rate indicate that the RMB exchange rate basically stagnant in the past year will restart the pace of appreciation and have a positive effect on the stock market. He predicted that the Hong Kong stock market would open 100 or 200 points today, but also thought that there was a big resistance between the 20500 and 20700 points.

Ye Shangzhi explained that the reason why the Hang Seng index had a greater resistance between 20500 and 20700 points was that except for the 50 days, 100 days and 250 days of moving average of the Hang Seng Index, the position of Jiancang in 4 and May was located at 20500 o'clock. In addition, the impact of the recent European debt crisis on the external market has weakened, and the Hong Kong stock market has also been upgraded for 8 days, so it is necessary to consolidate.

250 if the antenna breaks through the middle line

Ye Shangzhi pointed out that if the future Heng index breaks through the 250 day moving average, it indicates that the trend of the midline upward of the Hang Seng Index has been established. At that time, there are more than 21000 points on the Hang Seng Index.

He also pointed out that the above statement of people's Bank of China believes that the A share market also has a stimulating effect, but it is worth noting that the Shanghai composite index is a watershed in the 2600 point. If it can be lifted and stabilized, the A share market is expected to turn.

As for the mainland A shares, Galaxy Securities senior analyst Ren Chengde pointed out that in the short term, investors should be inclined to view that the RMB exchange rate will appreciate, and financial and real estate heavyweights will reappear strong. The market is expected to rebound, but after a while, we have gradually responded, and the rebound power of these heavyweights will gradually fade, and the market will return to the adjustment pattern.

Huang Xiangbin, chief strategist of XinDa securities, pointed out that RMB appreciation is a favorable factor for the stock market theoretically.

However, the adverse effects of RMB appreciation on manufacturing, textile and foreign trade industries will be exaggerated by some investors and will be unfavorable to the big market.

In addition, Ye Shangzhi and Guo Jia Yao both believe that the effect of "window dressing" will be good for the stock market this month, but the 21000 point of the Hang Seng index is not easy to break through this month.

As for the support position of the Hang Seng Index fell, Guo Jiayao thought there was greater support in the 20000 point, while Ye Shangzhi thought it was near the 19900 point.