Morning Brief 2021-09-29

*Key points

Speech by President Xi

*President Xi Jinping made speech on the Central Talent Work Conference and stressed party's management of talents, strategy of in-depth implementation of talent power in the new era and to accelerate construction of the world's major talent center.

 

Industrial Economy

*The State Grid held an emergency teleconference and stressed adherence of "priority in response of demand, electricity protection bottom in order" and to cooperate with the government to optimize and implement power use with consumption of high energy-consuming and polluting industries under control.

*The State Energy Administration issued the Code of Management of New Energy Storage Projects (Temporary) which mentioned the utilization energy storage project of power battery must follow the concept of full life cycle with battery consistency management and traceability system set up and corresponding qualification certificates acquired.

*MIIT and 7 other departments jointly issued the Three-Year Action Plan for the New Infrastructure Construction of the IoT (2021-2023) which aims to initially build a new type of IoT infrastructure in major cities by end 2023 with 10 IoT leading enterprises to be cultivated.

*MIIT: business income realized by internet enterprises in Jan-Aug was cny 1.0tn, up 25.4% y/y with different trend shown in segments and online sales, logistic platform saw outstanding growth.

 

Local

*Gong Zheng, mayor of Shanghai launched 2 major tourism investment and business projects worth cny 100bn each during the 14th 5-year plan period.

 

*Block Trade Info

*Discount

- Jenken Tech (688356 CH) saw 11 block trade worth 210.4mio at 217.1yuan per share, 14.95pct discount from last closing.

- CanSino (688185 CH) saw 3 block trade worth 319mio at 278.93/303yuan per share, 10.04/17.18pct discount from last closing.

- WillSemiconductor (603501 CH) saw 2 block trade worth 386mio at 225yuan per share, 8.42pct discount from last closing.

- Spring Airlines (601021 CH) saw 7 block trade worth 181.3mio at 50.4yuan per share, 6.63pct discount from last closing.

- Sangfor Tech (300454 CH) saw 7 block trade worth 163.8mio at 218.46yuan per share, 5pct discount from last closing.

 

Flat

- Midea (000333 CH) saw 2 block trade worth 44.8mio at 70.27yuan per share, flat from last closing.

 

*Margin Trade

Total Margin Balance	1.7161trillion	Total Short Selling Balance	161.3billion
SH Margin Balance	0.9130trillion	SH Short Selling Balance	101.2billion
Top Five Margin Trade Net Bought (in CNY)		Top Five Short Selling Net Sold (in shares)
601857	440mio	512100	13.9mio
601222	225mio	510500	10.1mio
601985	145mio	600733	8.6mio
600295	136mio	600900	6.6mio
600777	133mio	512760	5.3mio
SZ Margin Balance	0.8031trillion	SZ Short Selling Balance	60.0billion
Top Five Margin Trade Net Bought (in CNY)		Top Five Short Selling Net Sold (in shares)
000768	344mio	002042	4.0mio
000933	169mio	002065	3.8mio
000629	141mio	000998	1.7mio
300059	129mio	000100	1.3mio
003035	91mio	159922	1.1mio

*Connection Trade

*Index Futures

Position of Top 20 members (Unit lots)
CSI 300 Index Futures	Trading Volume	Change*	Long OI	Change*	Short OI	Change*
IF2110	96,870	-31,388	56,885	-7,494	61,138	-6,676
IF2112	25,120	-6,290	53,012	-1,584	65,568	-1,255
IF2203	5,264	-2,338	22,144	-258	22,270	-392
SSE 50 Index Futures	Trading Volume	Change*	Long OI	Change*	Short OI	Change*
IH2110	58,477	-24,453	34,417	-3,599	37,787	-2,759
IH2112	19,146	-6,816	25,363	-1,089	32,300	-1,611
IH2203	3,876	-1,960	6,915	-380	9,790	-243
CSI 500 Index Futures	Trading Volume	Change*	Long OI	Change*	Short OI	Change*
IC2110	85,824	-37,498	69,466	-5,329	70,203	-6,015
IC2112	27,766	-10,628	74,304	-1,593	92,455	-1,591
IC2203	11,852	-5,651	47,625	582	58,758	-116

*Index Options

Position of Top 20 members (Unit lots)
CSI 300 Index Options	Trading Volume	Change*	Long OI	Change*	Short OI	Change*
IO2110	112,122	-77,282	65,817	-440	68,395	800

*Treasury Futures

Position of Top 20 members (Unit lots)
2-Year Treasury Bond Futures	Trading Volume	Change*	Long OI	Change*	Short OI	Change*
TS2112	21,587	4,186	23,051	455	26,114	-152
5-Year Treasury Bond Futures	Trading Volume	Change*	Long OI	Change*	Short OI	Change*
TF2112	41,682	-139	56,550	-516	57,160	-521
10-Year Treasury Bond Futures	Trading Volume	Change*	Long OI	Change*	Short OI	Change*
T2112	81,877	-14,931	117,779	-2,007	120,755	-3,237

 

*Night Session Commodities Market (As of 02:30 am)

Top 3 Gainers (Dominant Contract)
Product	Contract	Price	Change %	Trading Volume	Open Interests
Thermal Coal	zc201	1,352.4	+4.97%	53,523	84,634
PVC	v2201	11,900.0	+4.34%	665,041	473,258
Coking Coal	jm2201	3,014.0	+2.8%	51,499	114,784
Top 3 Loser (Dominant Contract)
Product	Contract	Price	Change %	Trading Volume	Open Interests
Low Sulfur Fuel Oil	lu2112	3,641.0	-2.49%	39,416	27,832
PTA	ta201	5,110.0	-2.29%	1,034,299	1,365,066
Rapeseed Meal	rm201	2,808.0	-1.58%	278,513	375,102

 

Commodities (night session):

 

*API: US crude oil reserve increased by 4127 thousand barrels as of the week of September 24. November NYMEX crude oil contract closed at $74.33/b (down 1.48%), December Brent contract closed at $77.46/b (down 1.6%), INE crude oil active contract closed at 498 yuan/b (down 0.78%).

* The uptrend of US treasury bond yield brought downward pressure on Gold price. COMEX gold futures closed at $1733.9/oz (down 1.03%), COMEX Silver closed at $22.465/ oz (down 1.01%), SHFE gold active contract closed at 363.72 yuan/gram (down 0.77%), silver closed at 4791 yuan/Kilogram (down 0.83%).

* LME Metals saw diverge performance. LME copper down 1.13% to $9256/ ton, zinc up 0.11% to $3071/ ton, nickel down 2.38% to $18495/ ton, aluminum up 1.68% to $2932/ ton, tin up 1.97% to $35790/ ton, lead down 0.16% to $2159/ton. SHFE metals mostly closed down, tin up 2.62% to 276800 yuan/ton, aluminum up 1.79% to 23035 yuan/ton, copper down 1.04% to 68520 yuan/ton, bonded copper down 0.57% to 61010 yuan/ton, nickel down 0.68% to 141240 yuan/ton, zinc down 0.51% to 22640 yuan/ton, lead down 0.62% to 14420 yuan/ton.

* With the strengthening of dual control of energy consumption and energy intensity, high energy-consuming commodities saw substantial cut in production. Black series futures closed up collectively, with coke up 2.41%, coking coal up 2.8%, hot-rolled coil up 1.6%, steel rebar up 0.77%, thermal coal up 4.97% to reach history high, iron ore up 0.44%. Energy & chemistry sector saw diverge performance, PVC rose 4.34% shot to history high, LPG up 2.3%, Methanol up 1.38%, PTV down 2.29%, TSR 20 down 0.9%. In agriculture sector, corn starch up 1.15%, cotton up 1.7%, cotton yarn up 1.42%, rapeseed meal down 1.58%, soybean meal down 1.05%, white sugar down 0.21%.

 

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