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What adverse effects will RMB depreciation have on the stock market?
Historically, the trend of RMB and A shares is related. That is to say, under the general trend of RMB appreciation, RMB depreciation or accompanying A-share decline.

But as far as the current stock market is concerned, the depreciation of RMB has little effect on the stock market. At present, the country should expand the currency, lower interest rates, lower the exchange rate and ensure growth. The next step may be to expand the fluctuation range of exchange rate, increase the flexibility of RMB, and actively release the pressure of depreciation, so the RMB is not in an upward trend at present. In addition, some analysts said that at present, A shares have completed the process of double dip, and the trend of shock and rebound remains unchanged.

From the analysis of sectors, RMB depreciation is beneficial to non-ferrous metals, textiles and clothing and other related export industries, but unfavorable to real estate, banking, aviation, agriculture and other sectors. In addition, the performance of defensive industries, such as public utilities, medical care and telecommunications, is not affected by macro uncertainty and currency fluctuations.