Meeting Outcome: No Rate Hike

English summary

### Meeting Outcome: No Rate Hike Time: 2026-07-30 05:54:19 Content: The impact of the Fed's decision not to raise interest rates on A-shares cannot be simply summarized as "bullish" or "bearish." It is more like a "breathing window" that can alleviate short-term external pressure, but the medium-to-long-term trend of A-shares ultimately depends on our domestic economic fundamentals and policy efforts. Specifically, the impact is mainly reflected in the following three aspects: Alleviating external pressure and bringing short-term sentiment repair. Reduced capital outflow pressure: The Fed's pause in rate hikes means the momentum of the dollar maintaining high interest rates has stalled, and the depreciation pressure on the RMB will ease accordingly. This will alleviate the pressure of foreign capital (northbound funds) flowing out of A-shares and may even attract some capital back. Easing valuation suppression on tech stocks: A-share technology and growth sectors (such as semiconductors, AI computing power, etc.) are very sensitive to global liquidity. The Fed's pause in rate hikes temporarily relieves the upward pressure on global risk-free rates, helping to repair the suppressed valuations of these sectors and usher in a period of sentiment rebound. ...