DZ20211207
*Key points
Macro
*China cuts banks' reserve ratio by 0.5% from Dec 15th with weighted avg reserve ratio of 8.4% for financial institutions after with cny 1tn long-term funds to be released.
*The Political Bureau of the CPC Central Committee held meeting on Dec 6th in analysis of economic work in 2022 which emphasized to make progress while maintaining stability with active fiscal policy and stable monetary policy to be implemented under abundant liquidity. Strategy in expanding domestic demand will be implemented to promote consumption recovery and to expand effective investment. Core competence of manufacturing industry will be improved with resilience of supply chain to be strengthened. Government subsidized housings will be promoted for healthy development of property market with reasonable housing demand to be satisfied. Breakthrough of core tech will be push forward with tech policies to be born.
Industrial Economy
*China has approved to set up world largest rare earth company as early as Dec, to be named as China Rare Earth Group and has been confirmed by Ganzhou Rare Earth, one of its unit members.
*Shanghai local government approved 3-year action plan in construction of civil aviation industrial chain in Shanghai, Shanghai Securities Journal reported.
Local News
*Hainan issued 19 measures in supporting tech opening-up and innovation of free trade ports with R&D encouraged via bonus and subsidies, major tech projects, accelerated depreciation of fixed asset, equity incentives and equipment imports supported.
*Block Trade Info
*Discount
-SMIC (688981 CH) saw 2 block trade worth 68mn at 52.96/45 yuan per share, 2/16.73 pct discount from last closing
-Shenhua Energy (601088 CH) saw 1 block trade worth 4.8mn at 22.59yuan per share, 1.8pct premium from last closing.
-China Merchants Bank (600036 CH) saw 2 block trade worth 11.5mn at 46.18/46.2yuan per share, 10.88/10.85pct discount from last closing.
-Industrial Bank (601166 CH) saw 2 block trade worth 6.6mn at 16.5/16.52 yuan per share, 10.91/10.8pct discount from last closing.
-Longi Green Energy (601012 CH) saw 1 block trade worth 9.4mn at 81.89 yuan per share, 0.00pct discount from last closing.
Premium
-Shenhua Energy (601088 CH) saw 1 block trade worth 4.8mn at 22.59yuan per share, 1.8pct premium from last closing.
-China Chemical (601117 CH) saw 1 block trade worth 5.9mn at 13.43yuan per share, 2.64pct premium from last closing.
*Margin Trade
|
Total Margin Balance |
1.7225trillion |
Total Short Selling Balance |
119.1billion |
|
SH Margin Balance |
0.9075trillion |
SH Short Selling Balance |
77.8billion |
|
Top Five Margin Trade Net Bought (in CNY) |
Top Five Short Selling Net Sold (in shares) |
||
|
601888 |
226mio |
600016 |
5.1mio |
|
601377 |
145mio |
601818 |
4.3mio |
|
600837 |
124mio |
601377 |
3.4mio |
|
688151 |
113mio |
601137 |
3.1mio |
|
600958 |
108mio |
601288 |
2.9mio |
|
SZ Margin Balance |
0.8151trillion |
SZ Short Selling Balance |
41.3billion |
|
Top Five Margin Trade Net Bought (in CNY) |
Top Five Short Selling Net Sold (in shares) |
||
|
000591 |
251mio |
159915 |
3.2mio |
|
002600 |
223mio |
000783 |
2.6mio |
|
300623 |
195mio |
159949 |
2.3mio |
|
002326 |
162mio |
002249 |
1.9mio |
|
300274 |
131mio |
000708 |
1.7mio |
*Connection Trade
|
SH-HK Connection (bn cny) |
SZ-HK Connection (bn cny) |
||||
|
Northbound Net Cash Flow |
21.23 |
Northbound Net Cash Flow |
-17.28 |
||
|
Southbound Net Cash Flow |
15 |
Southbound Net Cash Flow |
22 |
||
|
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 |
|
600030 |
844 |
3.47 |
300750 |
399 |
0.29 |
|
300059 |
697 |
2.34 |
600276 |
360 |
1.15 |
|
000001 |
558 |
1.63 |
601012 |
329 |
0.74 |
|
600036 |
394 |
0.37 |
600958 |
317 |
3.57 |
|
300014 |
355 |
1.32 |
002460 |
251 |
1.82 |
*Index Futures
|
Position of Top 20 members (Unit lots) |
||||||
|
CSI 300 Index Futures |
Trading Volume |
Change* |
Long OI |
Change* |
Short OI |
Change* |
|
IF2112 |
84,111 |
-6,464 |
71,132 |
173 |
78,190 |
-1,708 |
|
IF2203 |
17,623 |
1,060 |
43,554 |
1,072 |
49,771 |
666 |
|
IF2206 |
4,332 |
484 |
10,414 |
559 |
12,471 |
724 |
|
SSE 50 Index Futures |
Trading Volume |
Change* |
Long OI |
Change* |
Short OI |
Change* |
|
IH2112 |
58,372 |
3,602 |
37,925 |
-4,568 |
43,741 |
-4,286 |
|
IH2203 |
12,579 |
2,242 |
16,842 |
525 |
20,802 |
374 |
|
CSI 500 Index Futures |
Trading Volume |
Change* |
Long OI |
Change* |
Short OI |
Change* |
|
IC2112 |
71,765 |
2,066 |
82,787 |
-3,342 |
92,559 |
-3,831 |
|
IC2201 |
9,049 |
2,870 |
13,513 |
2,179 |
12,763 |
2,191 |
|
IC2203 |
20,157 |
4,918 |
61,496 |
1,438 |
75,853 |
2,157 |
|
IC2206 |
12,087 |
186 |
40,320 |
2,903 |
48,124 |
2,824 |
*Index Options
|
Position of Top 20 members (Unit lots) |
||||||
|
CSI 300 Index Options |
Trading Volume |
Change* |
Long OI |
Change* |
Short OI |
Change* |
|
IO2112 |
160969 |
19059 |
75015 |
-2660 |
81152 |
-1775 |
*Treasury Futures
|
Position of Top 20 members (Unit lots) |
||||||
|
2-Year Treasury Bond Futures |
Trading Volume |
Change* |
Long OI |
Change* |
Short OI |
Change* |
|
TS2112 |
30 |
-21 |
740 |
-5 |
740 |
-5 |
|
TS2203 |
18,871 |
4,697 |
27,411 |
825 |
29,816 |
1,565 |
|
5-Year Treasury Bond Futures |
Trading Volume |
Change* |
Long OI |
Change* |
Short OI |
Change* |
|
TF2112 |
58 |
-104 |
3,610 |
-136 |
3,610 |
-136 |
|
TF2203 |
45,314 |
6,820 |
56,091 |
-2,754 |
62,737 |
-1,351 |
|
10-Year Treasury Bond Futures |
Trading Volume |
Change* |
Long OI |
Change* |
Short OI |
Change* |
|
T2112 |
86 |
-161 |
490 |
0 |
490 |
0 |
|
T2203 |
101,938 |
-4,292 |
113,197 |
-601 |
123,402 |
-948 |
*Night Session Commodities Market (As of 02:30 am)
|
Top 3 Gainers (Dominant Contract) |
|||||
|
Product |
Contract |
Price |
Change % |
Trading Volume |
Open Interests |
|
Iron Ore |
i2205 |
644.0 |
+4.21% |
507,761 |
518,476 |
|
Coke |
j2205 |
2,962.0 |
+4.2% |
17,567 |
27,345 |
|
LPG |
pg2201 |
4,392.0 |
+3.66% |
80,253 |
57,103 |
|
Top 3 Loser (Dominant Contract) |
|||||
|
Product |
Contract |
Price |
Change % |
Trading Volume |
Open Interests |
|
Soybean Meal |
m2205 |
3,043.0 |
-1.55% |
312,198 |
1,053,753 |
|
Glass |
fg201 |
1,909.0 |
-1.24% |
147,897 |
185,413 |
|
Tin |
sn2201 |
279,090.0 |
-1.22% |
28,739 |
42,133 |
Commodities (night session):
*Global crude oil price rose sharply. January NYMEX crude oil contract up 5.69% to closed at $70.03/b, February Brent contract up 5.42% to closed at $73.67/b, INE crude oil active contract up 1.82% to closed at 459.1 yuan/b.
* COMEX gold futures closed at $1779.3/oz (down 0.26%). SHFE gold active contract closed at 367.76 yuan/gram (up 0.23%).
* Metals mostly closed down. LME aluminum down 1.11%, copper up 1.69%. SHFE aluminum down 0.61%, copper up 0.33%, bonded copper up 0.49%.
* Commodity futures mostly closed up. Energy & chemistry sector saw diverge performance, with LPG rose 3.66%, soda ash went up 2.73%, glass declined 1.24%. Back series mostly closed up, iron ore surged 4.21%, coke rose 4.2%, coking coal up 2.53%, whereas thermal coal down 0.55%. Agriculture commodity futures performed mixed, cotton up 1.25%, soybean meal down 1.55%.
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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.
