The Fuse Mechanism Implemented By The SFC Has Come Into Effect.

For A share investors, today's market performance is undoubtedly very disappointing. Shortly after the opening of the afternoon, the fusing mechanism was triggered, the Shanghai Composite Index closed down 6.86%, Shenzhen stock index closed down 8.20%, and two cities had more than 1400 stocks down.

The fusing mechanism is divided into two stages. When the CSI 300 index falls to 5%, it will trigger the first fuse, the paction will be suspended for 15 minutes, and the Shanghai and Shenzhen 300 index will hit 7%, which will trigger the second fuse and end the paction.

Trigger the first gear at 13:12 today.

After the resumption of trading at 13:27 PM, the market continued to fall, triggering second fuse at 13:33 PM and closing the day ahead of schedule.

On the whole, China within the day

There are many factors of decline. Last year's last trading day was weak. Last month, a huge number of restricted shares were lifted. In March, the news of the trial registration system also suppressed market confidence. Besides, the PMI accident of the new manufacturing industry announced in the early morning also caused the market to be disappointed. These are all factors of panic falling within the day.

In the interbank market,

After breaking up 6.51 and then finishing sideways, it rose again after 16:30 and reported 6.5332.

In the free floating offshore market of Hongkong, the US dollar / offshore renminbi rose sharply during the day, breaking 6.60 and reporting 6.6254 now, up 600 basis points from last Friday.

The RMB exchange rate on the shore was extended to night, and the exchange rate was broken by 6.51.

Today, the RMB has fallen again from the middle price. From today, the trading hours in the onshore market will be extended from 23:30 to 23:30 at 16:30, but still close at the closing price.

The Central Bank of China raised the US dollar / central parity price by 96 basis points to 6.5032 on Monday, 96 basis points higher than last Thursday's closing price of RMB, and 628 basis points lower than the closing price of offshore RMB.