Research On The Impact Of Macroeconomics Factors On The Return Rate Of Bank Stocks

In China's Shanghai and Shenzhen stock markets, the performance of the banking sector stock index undoubtedly became the most important part. Bank shares play a major role in guiding the entire market. At present China is on the appreciation of the RMB, the rapid economic development and the environment of growing inflation, how the performances of these macro-factors have an impact on banking stocks? This paper will attempt to answer this question. Researching in the exchange rate and other macroeconomic factors listed companies in the banking business impact, then re-evaluating their investment value, the majorities of the investors have a far-reaching significance, both for individual investment banking, or looking at the entire market value of investments, have important reference value.In this paper, the author analyzed the effect on the banking business by theory, with the exchange rate as a key factor. Exchange rate influencing on bank assets have two aspects of the business impact: first, it has changed credit risk of some companies with the import and export business; second, it can increase the banking sector foreign investment with more financial support. As for debt operations, although the exchange rate will not directly affect the debt business, the expected appreciation of the RMB also has an impact on it. And other factors which have impact on the business include the deposit interest rates, the income growth of residents, consumption growth, the entry of foreign banks and so on. As for the bank's intermediate business, the exchange rate can influence the major foreign exchange intermediate business.Then, on the basis of theoretical analysis, the author used data from empirical analysis of reality. 10 years of banking stocks stock average yield was interpreted as a dependent variable, while the exchange rate, the loan-to-deposit interest rate differentials, GDP growth and CPI as explaining variables. And a multi-linear regression model was established. The results from the model can fit the reality of the true situation.