DZ20211018

 

*Key points

For QFIIs

*CSRC said it would open the access for QFII to participate in the trading of commodity futures, commodity options and stock index options, which shall come into force on November 1, 2021.

 

Macro:

*President Xi Jinping published an important article about "solid promotion of common prosperity". It mentioned that,

1.The government should actively and steadily promote the legislation and reform of real estate tax and do a good job in the pilot work.

2.The government should appropriately improve the wages and benefits of civil servants, especially grass-roots front-line civil servants and grass-roots employees of state-owned enterprises and institutions.

3.The government would encourage high-income groups and enterprises to pay more back to the society and increase the management of income distribution in monopoly industries and state-owned enterprises.

4.The government should increase the property income of urban and rural residents from housing, rural land and financial assets.

5.The government should strive to expand the size of middle-income groups and strengthen the regulation and regulation of high-income groups.

*During his visit to Guangdong, Prmier Li Keqiang said that the government will continue to take measures to prevent the rise of commodity prices from transmitting to the downstream of the supply chain and will also study the implementation of phased tax cuts to alleviate the cost pressure of downstream small, medium and micro enterprises.

 

Financial:

*Based on the data of 2020, PBoC and CBIRC evaluated and identified 19 domestic systemically important banks, including 6 state-owned commercial banks, 9 joint-stock commercial banks and 4 urban commercial banks.

*CSRC and other departments are improving rules and regulating domestic financial activities such as FUTU Securities and Tiger Securities. People.CN said that the personal information protection law will bring major compliance challenges to the cross-border internet brokerage industry.

 

Industrial:

*The wind power partnership action plan has been implemented, 10,000 wind turbines will be installed in rural areas across the country to support the zero-carbon process in urban industry, and offshore wind power is striving to achieve parity in 2024.

*Xiao Yaqing, Minister of MIIT, said that the government would continue to further promote the special rectification action of the Internet industry.

*The medical reform leading group of the State Council proposed that all localities should carry out centralized and systematic procurement of drug consumables.

 

 

*NDRC issued the pricing measures for electricity transmission prices of inter provincial and inter regional special projects.

*On the first day of the implementation of power reform, the transaction price in Jiangsu rose by 19.94%.

 

Co-Focus

*Data show that American Euro-pacific Growth Fund, which holds the most shares in KWEICHOW MOUTAI, decreased its holdings in the third quarter. Compared with the end of the second quarter, the number of shares held by the fund at the end of the third quarter decreased by 11.19%.

 

*Block Trade Info

*Discount

- Moutai (600519 CH) saw 2 block trade worth 106.5 mn at 1911 yuan per share, 0.31pct discount from last closing.

- Xingfa Chemicals (600141 CH) saw 13 block trade worth 70.6 mn at 35.31 yuan per share, 11.44pct discount from last closing.

- IMeik (300896 CH) saw 15 block trade worth 243.8mn at 601.79 yuan per share, 8.71pct discount from last closing.

- Mingchen Health (002919 CH) saw 6 block trade worth 90.5mn at 47.22 yuan per share, 0.34pct discount from last closing.

 

*Premium

- Transsion Holdings (688036 CH) saw 2 block trade worth 280.2mn at 140.1yuan per share, 0.21pct premium from last closing.

*Margin Trade

Total Margin Balance

1.6893trillion

Total Short Selling Balance

161.8billion

SH Margin Balance

0.8958trillion

SH Short Selling Balance

101.1billion

Top Five Margin Trade Net Bought (in CNY)

Top Five Short Selling Net Sold (in shares)

688772

120mio

512000

17.2mio

601600

109mio

510500

11.4mio

600596

107mio

601162

8.0mio

600089

104mio

688772

7.0mio

600863

85mio

510050

5.7mio

SZ Margin Balance

0.7935trillion

SZ Short Selling Balance

60.7billion

Top Five Margin Trade Net Bought (in CNY)

Top Five Short Selling Net Sold (in shares)

002129

447mio

002185

7.4mio

000661

152mio

159949

3.8mio

002123

152mio

002249

2.7mio

002466

114mio

300433

1.8mio

000723

86mio

000629

1.7mio

*Connection Trade

SH-HK Connection (bn cny)

SZ-HK Connection (bn cny)

Northbound Net Cash Flow

2.20

Northbound Net Cash Flow

0.50

Southbound Net Cash Flow

-1.16

Southbound Net Cash Flow

1.37

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

300750

1023

0.87

601318

999

1.05

601012

808

1.91

600276

552

1.60

300274

553

2.64

000858

487

0.55

600460

550

7.32

300760

484

1.06

600519

529

0.23

000002

325

1.25

*Index Futures

Position of Top 20 members (Unit lots)

CSI 300 Index Futures

Trading Volume

Change*

Long OI

Change*

Short OI

Change*

IF2110

31,140

-32,878

0

-11,198

0

-10,545

IF2111

78,421

27,983

44,395

11,879

47,941

12,058

IF2112

30,598

5,097

56,504

1,809

69,250

2,401

IF2203

8,670

4,443

23,639

1,561

23,878

1,429

SSE 50 Index Futures

Trading Volume

Change*

Long OI

Change*

Short OI

Change*

IH2110

22,111

-12,905

0

-8,431

0

-7,642

IH2111

55,177

25,144

29,435

11,080

31,577

12,148

IH2112

18,918

2,593

28,708

1,747

36,524

2,129

IH2203

4,831

1,173

7,848

337

10,872

458

CSI 500 Index Futures

Trading Volume

Change*

Long OI

Change*

Short OI

Change*

IC2110

36,509

-28,836

0

-8,943

0

-12,192

IC2111

71,478

16,971

57,682

10,773

59,782

10,650

IC2112

32,255

443

79,475

243

91,423

-897

IC2203

14,573

1,423

57,661

1,188

65,918

911

*Index Options

Position of Top 20 members (Unit lots)

CSI 300 Index Options

Trading Volume

Change*

Long OI

Change*

Short OI

Change*

IO2110

127,519

-11,598

0

-24,793

0

-25,612

IO2111

75,282

30,882

48,658

8,511

45,952

6,898

IO2112

6,515

6,515

22,674

22,674

24,632

24,632

*Treasury Futures

Position of Top 20 members (Unit lots)

2-Year Treasury Bond Futures

Trading Volume

Change*

Long OI

Change*

Short OI

Change*

TS2112

20,115

-6,059

22,694

710

24,661

369

5-Year Treasury Bond Futures

Trading Volume

Change*

Long OI

Change*

Short OI

Change*

TF2112

42,326

10,088

64,511

842

61,240

978

10-Year Treasury Bond Futures

Trading Volume

Change*

Long OI

Change*

Short OI

Change*

T2112

139,784

57,640

124,173

1,534

124,140

2,403

 

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

Top 3 Gainers (Dominant Contract)

Product

Contract

Price

Change %

Trading Volume

Open Interests

Zinc

zn2111

27,520.0

+7.21%

308,552

95,188

Thermal Coal

zc201

1,753.4

+6.42%

57,022

83,867

EG

eg2201

6,980.0

+4.24%

367,554

229,259

Top 3 Loser (Dominant Contract)

Product

Contract

Price

Change %

Trading Volume

Open Interests

Iron Ore

i2201

702.0

-3.51%

352,862

471,350

Glass

fg201

2,305.0

-2.78%

208,472

229,758

Cotton

cf201

21,305.0

-2.76%

790,422

466,173

 

Commodities (night session):

* Global oil price rose collectively. The short in supply of natural gas and coal led to higher demand for oil products in power industry, oil reserves saw downward tendency. November NYMEX crude oil contract rose for 8-consecutive weeks to closed at $82.66/b (up 1.66%). December Brent contract closed at $84.92/b (up 1.1%), INE crude oil active contract quoted 1% higher to closed at 535.8 yuan/b.

* The bounce of US treasury yield and surprisingly rise of September US retail data led to the fall of gold price. COMEX gold futures closed at $1768.1/oz (down 1.66%), COMEX silver closed at $23.35/oz (down 0.54%). SHFE gold active contract closed at 368.6 yuan/gram (down 1.38%), silver closed at 4944 yuan/Kilogram (down 0.38%).

* Metals mostly closed up with zinc rose sharply leading the trend. Nyrstar and Glen announced production cut in zinc amid rising energy price. In addition, India’s short in power supply may lead to further contraction of zinc output. LME zinc up 8.26% to $3820/ ton, copper up 2.31 % to $10215 / ton. SHFE zinc up 7.21% to 27520 yuan/ton, copper up 2.06% to 75130 yuan/ton, bonded copper up 2.17 % to 67220 yuan/ton.

* Black series futures saw diverge performance. thermal coal futures rose sharply by 6.42%, coke up 3.79%, iron ore down 3.51%. Energy & chemistry sector performed mixed, EG rose 4.24%, soda ash went up 3.3%. Agriculture commodity futures mostly closed up, rbd palm olein.up 2.59%, soybean oil up 2.05%, no.2 soybeans up 1.3%.

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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.