PANews reported on August 22nd that the Shanghai Composite Index rose 0.77% in the afternoon, reaching 3,800 points, a new high in nearly 10 years. The Shanghai Composite Index has risen nearly 450 points this year, a gain of over 13%. AI chips, minor metals, education, computing power, rare earth permanent magnets, and PCBs led the gains, while fertilizers, textiles and apparel, mining, banking, and agriculture saw a pullback. Approximately 2,100 stocks rose, while 3,100 fell, resulting in a net inflow of approximately 1.2 billion yuan in major funds.


Market participants are eagerly anticipating at least a 25 basis point (BPS) interest rate cut from the Federal Reserve on Wednesday. The Federal Reserve, the central bank of the United States, is expected to begin slashing interest rates on Wednesday, with analysts expecting a 25 basis point (BPS) cut and a boost to risk asset prices in the long term.Crypto prices are strongly correlated with liquidity cycles, Coin Bureau founder and market analyst Nic Puckrin said. However, while lower interest rates tend to raise asset prices long-term, Puckrin warned of a short-term price correction. “The main risk is that the move is already priced in, Puckrin said, adding, “hope is high and there’s a big chance of a ‘sell the news’ pullback. When that happens, speculative corners, memecoins in particular, are most vulnerable.”Read more
