Financials(IN40290.SH)

Yuan eases from 32-month high as dollar rebounds after Fed pause

China's yuan eased from a 32-month high against the dollar, trading at 6.9476 as the dollar rebounded after the Federal Reserve paused interest rate cuts. Analysts suggest a "wait-and-see" approach, with expectations of continued moderate yuan appreciation, potentially reaching 6.7 by year-end. The People's Bank of China set the midpoint rate at 6.9771, indicating a weaker fixing than market estimates. The yuan has risen 0.7% this month, supported by a weaker dollar and increased exporter demand.

The Export-Import Bank issued 15-month bonds worth 13 billion yuan, with an interest rate of 1.4057%, expected at 1.4000%, a bid-to-cover ratio of 2.90 times, and a marginal ratio of 1.96 times; at the same time, it issued 66-month bonds worth 3 billion yuan, with an interest rate of 1.7096%, expected at 1.6300%, a bid-to-cover ratio of 6.18 times, and a marginal ratio of 1.11 times

UBS raises China Life's target price to 42 yuan, optimistic about the growth of the bancassurance channel and the trend of deposit migration

UBS raised the target price for China Life from 29 yuan to 42 yuan, maintaining a "Buy" rating, mainly based on the improved growth prospects for new business value, favorable macro conditions, and updated valuation benchmarks. It is expected that new business value will grow by 35% in 2025, and net profit attributable to the parent will increase by 45%. The performance of the bank insurance channel is promising, and China Life has an advantage in deposit migration

Guolian Minsheng's subsidiary appeals the lawsuit, and the court accepts the case

Guolian Minsheng's wholly-owned subsidiary Guolian Minsheng Underwriting and Sponsorship has appealed against a major lawsuit, and the Shandong Provincial High People's Court has accepted the case. The lawsuit has not yet been adjudicated during the second instance, and the company has made provisions for estimated liabilities based on the first-instance judgment, with the specific amount pending confirmation from the audit results. The company's financial condition is stable, operations are normal, and the lawsuit amount will not have a significant adverse impact on the current and future profits

Morning Trend | CITIC Securities (6030.HK) Golden Cross, Brokerage Sector Active, Main Capital Flows Change

CITIC Securities Co., Ltd. (6030.HK) experienced a full-day rebound yesterday, with significant inflows of weighted funds becoming the focus of the market. The information front is paying attention to the increase in financing activity and regulatory stimulation of trading, with overall turnover rate and trading volume significantly larger than in previous periods. The brokerage sector has become a temporary hotspot, with funds chasing and driving sector rotation. On the technical front, there has been a back-and-forth battle between bulls and bears, with a golden cross forming after the MACD divergence was digested, and the K-line stabilizing and rebounding. High-level discrepancies still exist, and the frequency of short-term fund rotation is accelerating, with sector performance still influenced by fund flows and regulatory dynamics. If trading volume cannot continue to expand, further adjustments cannot be ruled out. Strategically, it is important to flexibly control the rhythm of the waves, emphasize risk control, closely monitor industry policies and the overall market environment, and be wary of short-term fluctuations under rapid switches of hotspots