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All three major A-share indices turned negative, with the ChiNext index rising as much as 1.6% in the morning session. MLCC concept stocks and memory chip sectors fluctuated and declined.

2026-08-20

All three major A-share indices turned negative, with the ChiNext index rising as much as 1.6% in the morning session. MLCC concept stocks and memory chip sectors fluctuated and declined.

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2026-08-20

REUTERS SURVEY: Bullish bets on the Korean won (KRW) reached their highest level since mid-June 2025; short positions on the Indonesian rupiah (IDR) fell to their lowest since September 2025.

REUTERS SURVEY: Bullish bets on the Korean won (KRW) reached their highest level since mid-June 2025; short positions on the Indonesian rupiah (IDR) fell to their lowest since September 2025.
2026-08-20

On August 19th, the Buffett Index (CSI 300 market capitalization/GDP) fell to 91.76%; the equity risk premium (ERP) of the CSI 300 Index, a stock-bond ratio indicator, was 5.36%, fluctuating mainly around 5.2% since July, at the lower end of its fluc

On August 19th, the Buffett Index (CSI 300 market capitalization/GDP) fell to 91.76%; the equity risk premium (ERP) of the CSI 300 Index, a stock-bond ratio indicator, was 5.36%, fluctuating mainly around 5.2% since July, at the lower end of its fluctuation range since October 2024, suggesting that the current advantage of stocks relative to government bond yields is generally limited. -------- Note: 1. The Buffett Index compares the total market capitalization of the stock market to GDP to determine whether the stock market is currently overvalued. Generally, 70-100% is considered a normal valuation, below this range is considered undervalued, and above this range is considered overvalued. 2. The risk premium (ERP) of the CSI 300 Index is mainly compared with the returns of the CSI 300 and the yield of government bonds. Statistics from the past 10 years show that this indicator has a clear inverse relationship with the stock index. Every time the stock market is in the bottom area, the risk premium exceeds 6%. That is, when ERP ≥ 6%, the stock market has investment value, while when ERP ≤ 4%, the stock market is often close to or at a stage high, the investment value is low, and there is even a risk of correction.
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