DZ20211011
*Key points
China-U.S. relationship
*On the morning of October 9, Liu He held a video call with Katherine Tai, the US trade representative. The two sides discussed three issues: first, China-US economic and trade relations are very important to both countries and the world, and bilateral economic and trade exchanges and cooperation should be strengthened. Second, the two sides exchanged views on the implementation of the China-US economic and trade agreement. Third, the two sides expressed their core concerns and agreed to resolve their legitimate concerns through consultation. China negotiated the cancellation of tariffs and sanctions, and clarified its position on China's economic development model and industrial policy.
Macro:
*The CPC Central Committee and the State Council issued the national standardization development outline, which designs artificial intelligence, quantum information, biotechnology, big data, blockchain, health, new energy, new materials, intelligent ships, high-speed railways, new energy vehicles, intelligent networked vehicles and robotics.
*Li Keqiang proposed that on the premise of stabilizing the electricity prices of residents, agriculture and public welfare undertakings, the fluctuation range of market transaction electricity prices should be adjusted from no more than 10% and 15% respectively to no more than 20% in principle.
Industrial:
*The CPC Central Committee and State Council require the establishment and improvement of carbon peak and carbon neutralization standards and the increase of energy consumption quota requirements for key products.
*NDRC solicited public opinions on the negative list of market access (2021 Edition).
*The CPC Central Committee and State Council issued the outline of the plan for ecological protection and high-quality development of the Yellow River Basin.
Financial:
*Yi Gang, governor of PBoC, said at the International Conference on the supervision of large technology companies by BIS that China's regulatory response to large financial technology companies is reflected in the following three regulatory practices. First, as a franchise industry, finance must be licensed. The second is to establish an appropriate firewall to avoid the spread of financial risks across departments and industries. Third, disconnect the improper connection between financial information and business information to prevent the monopoly caused by the closed-loop effect of "data-network effect-financial business". He also said that the government will implement the supervision of financial holding companies, implement consolidated management, standardize related party transactions and strengthen prudential supervision and support the healthy development of private economy, internet economy and digital economy
Co Focus
*The State Administration for Market Supervision imposed an administrative penalty on the monopoly of "one of MEITUAN Takeout, refunded the exclusive cooperation deposit of RMB 1.289 billion in full, and imposed a fine of 3% of its domestic sales of RMB 114.748 billion in 2020, totaling RMB 3.442 billion.
*Block Trade Info
*Discount
- Aier Eye Hospital (300015,CH) saw 4 block trade worth 80.23 mn at 50.52 yuan per share, 5.00 discount from last closing.
- KWEICHOW MOUTAI (600519,CH) saw 2 block trade worth 6.22 mn at 1830.00 yuan per share, 0.52 discount from last closing.
*Flat
- GREE (000651,CH) saw 4 block trade worth 59.60 mn at 39.81 yuan per share, flat from last closing.
- Sungrow Power (300274,CH) saw 1 block trade worth 57.46 mn at 150.20 yuan per share, flat from last closing.
- HKVision (002415,CH) saw 1 block trade worth 18.07 mn at 56.48 yuan per share, flat from last closing.
- FOSUN Pharmaceutical (600196,CH) saw 1 block trade worth 12.87 mn at 51.50 yuan per share, flat from last closing.
*Margin Trade
|
Total Margin Balance |
1.6961trillion |
Total Short Selling Balance |
158.1billion |
|
SH Margin Balance |
0.9014 trillion |
SH Short Selling Balance |
97.8 billion |
|
Top Five Margin Trade Net Bought (in CNY) |
Top Five Short Selling Net Sold (in shares) |
||
|
601012 |
326mio |
601198 |
16.57mio |
|
600111 |
259mio |
600089 |
3.21mio |
|
600519 |
251mio |
600011 |
3.17mio |
|
600256 |
243mio |
600010 |
2.76mio |
|
603026 |
174mio |
601669 |
2.64mio |
|
SZ Margin Balance |
0.7947trillion |
SZ Short Selling Balance |
59.2 billion |
|
Top Five Margin Trade Net Bought (in CNY) |
Top Five Short Selling Net Sold (in shares) |
||
|
000937 |
322mio |
000100 |
6.48mio |
|
002756 |
222mio |
002065 |
5.35mio |
|
002407 |
210mio |
002610 |
3.62mio |
|
002601 |
171mio |
300398 |
2.02mio |
|
002340 |
169mio |
002340 |
1.85mio |
*Connection Trade
|
SH-HK Connection (bn cny) |
SZ-HK Connection (bn cny) |
||||
|
Northbound Net Cash Flow |
-0.35 |
Northbound Net Cash Flow |
-2.21 |
||
|
Southbound Net Cash Flow |
1.07 |
Southbound Net Cash Flow |
1.32 |
||
|
Top 5 Northbound Inflow |
Top 5 Northbound Outflow |
||||
|
Name |
Market Value (mio cny) |
‰ out of ttl share outstanding |
Name |
Market Value (mio cny) |
‰ out of ttl share outstanding |
|
600887 |
137.5 |
6.00 |
002475 |
838 |
3.33 |
|
601318 |
131.7 |
1.49 |
000333 |
515 |
1.06 |
|
601601 |
550 |
2.11 |
002352 |
464 |
1.56 |
|
600900 |
500 |
1.00 |
002304 |
313 |
1.25 |
|
601888 |
457 |
0.90 |
000998 |
221 |
7.84 |
*Index Futures
|
Position of Top 20 members (Unit lots) |
||||||
|
CSI 300 Index Futures |
Trading Volume |
Change* |
Long OI |
Change* |
Short OI |
Change* |
|
IF2110 |
99,418 |
24,387 |
56,295 |
5,809 |
60,586 |
5,473 |
|
IF2112 |
28,175 |
9,269 |
53,082 |
1,635 |
64,969 |
811 |
|
IF2203 |
7,421 |
2,519 |
21,954 |
535 |
22,393 |
429 |
|
SSE 50 Index Futures |
Trading Volume |
Change* |
Long OI |
Change* |
Short OI |
Change* |
|
IH2110 |
68,916 |
12,724 |
35,319 |
3,831 |
37,635 |
3,397 |
|
IH2112 |
19,169 |
3,696 |
26,474 |
455 |
33,931 |
550 |
|
IH2203 |
4,143 |
105 |
7,259 |
-151 |
9,780 |
-194 |
|
CSI 500 Index Futures |
Trading Volume |
Change* |
Long OI |
Change* |
Short OI |
Change* |
|
IC2110 |
81,724 |
2,000 |
63,585 |
-337 |
61,618 |
-1,871 |
|
IC2111 |
14094 |
7083 |
14406 |
3219 |
13998 |
3817 |
|
IC2112 |
30,457 |
682 |
77,872 |
3,376 |
92,252 |
2,148 |
|
IC2203 |
12,942 |
-454 |
53,629 |
879 |
62,926 |
953 |
*Index Options
|
Position of Top 20 members (Unit lots) |
||||||
|
CSI 300 Index Options |
Trading Volume |
Change* |
Long OI |
Change* |
Short OI |
Change* |
|
IO2110 |
162291 |
65139 |
53935 |
-5877 |
58636 |
-7913 |
|
IO2111 |
39216 |
39216 |
26143 |
26143 |
24952 |
24952 |
*Treasury Futures
|
Position of Top 20 members (Unit lots) |
||||||
|
2-Year Treasury Bond Futures |
Trading Volume |
Change* |
Long OI |
Change* |
Short OI |
Change* |
|
TS2112 |
20,138 |
2,463 |
23,105 |
8 |
25,566 |
-434 |
|
5-Year Treasury Bond Futures |
Trading Volume |
Change* |
Long OI |
Change* |
Short OI |
Change* |
|
TF2112 |
39,355 |
5,833 |
57,758 |
2,212 |
57,570 |
910 |
|
10-Year Treasury Bond Futures |
Trading Volume |
Change* |
Long OI |
Change* |
Short OI |
Change* |
|
T2112 |
87,626 |
2,592 |
120,036 |
2,159 |
120,155 |
974 |
|
Top 3 Gainers (Dominant Contract) |
|||||
|
Product |
Contract |
Price |
Change % |
Trading Volume |
Open Interests |
|
PVC |
V2201 |
12,785.0 |
+4.62% |
405,859 |
423,424 |
|
Methanol |
MA201 |
3,885.0 |
+4.58% |
1,001,197 |
998,586 |
|
Soda Ash |
SA201 |
3,467.0 |
+4.18% |
333,454 |
315,190 |
|
Top 3 Loser (Dominant Contract) |
|||||
|
Product |
Contract |
Price |
Change % |
Trading Volume |
Open Interests |
|
Corn Starch |
CS2111 |
2,964.0 |
-0.87% |
41,099 |
87,953 |
|
Crude Oil |
SC2111 |
522.4 |
-0.85% |
54,015 |
25,271 |
|
Coke |
J2201 |
3,527.5 |
-0.3% |
14,144 |
75,936 |
* The natural gas futures in the US closed with a 3% increase, and now quoted at USD 5.732/btu. After crude oil and coal, prices of natural gas have been rising sharply. JKM, an important indicator of LNG price in Asia, has just hit USD 56.326 with a 56% intra-day rise, the most over the past 14 years. Now South Korea is considering to raise urban natural gas prices. Affected by the sharp increase in seasonal demand and continuous rise in European natural gas, a panic buying came up and further pushed up the LNG prices.
* Oil price mostly went up in the global market, the November contract of WTI rose by 1.65%, the new highest since November in 2014, and the December contract of Brent went up by 0.94% at $82.72/barrel.
* LME metals mostly closed up with LME copper up 0.75% to $9,350/ton, LME zinc rose by 3.9% to $3,168.5/ton, LME nickel up by 4.91% to $19,160 / ton, LME aluminum up by 0.46% to $2,959.5 / ton, LME tin up by 2.85% to $36,290 / ton, lead rose 2.37% to $2,225/ton.
* For the night trading session on Oct 8, crude oil futures closed down with a 0.85% decrease, quoted at yuan 522.4/barrel, while PTA went up by 3.76% leading the upside, iron ore up by 1.27% and palm oil closed 1.93% compared to the last trading day.
DISCLAIMER
The report is issued by Orient Securities Co. LTD (Orient Securities) and Shanghai Orient Futures Co. LTD (Orient Futures) to institutional investors. Opinions expressed may differ from those of other divisions of Orient Securities, including Orient Securities Research Institute. Orient Securities may trade as principal in instruments identified herein and may accumulate/have accumulated a long or short position in instruments or derivatives thereof. Orient Securities has policies designed to negate conflicts of interest. This e-mail is not an official confirmation of terms and unless stated, is not a recommendation, offer or solicitation to buy or sell. Any prices or quotations contained herein are indicative only. Communications may be monitored.
