DZ20211213
*Key points
Macro
*The Central Economic Work Conference was held during Dec 8th to 10th which mapped out plans for next year under pressure of demand shrinkage, supply shock and weak expectation. It is pointed out that 1) progress in stability shall be emphasized with active fiscal policy and stable monetary policy to be implemented in coordination; 2) house is for living rather than speculation with new development pattern to be explored, rental and government subsidized housings to be promoted; 3) registration mechanism of stock issuance will be adopted; 4) three-year action plan of state-owned enterprise reform to be completed and reform in monopoly industries like power grid, railway to be push forward; 5)“green red lights” to be set up to oversight over capital with supervision to be strengthened; 6) carbon neutral to be realized and the steady exit of traditional energy will be based on substitute basis of safe new energy; 7) expand high-level of opening-up with national treatment implemented and promote major foreign capital projects.
*Han Wenxiu, senior officer of Central Finance Committee pointed out on the 2021-2022 China Economic Annual Conference that the key work for the Central Economic Work Conference held is stability. Strategic of domestic demand expansion will be implemented for consumption recovery with effective investment to be expanded. Infrastructure construction shall be carried out in advance at appropriate level with investment in pollution/carbon reduction, new energy, new tech and industrial cluster strengthened.
Financials
*CBIRC issued administration of insurance asset management company on Dec 10th and is seeking for public opinions which lowered max stake holding proportion of shareholders and no longer restrict upper limit of stake held by foreign insurance companies.
*Han Zheng, vice premier emphasized on the Hainan overall deepen reform and opening up conference that new progress in construction of Hainan free trade port will be promoted with development basis of major platforms and industries consolidated and to carry out pressure test to explore facilitated trade investment rule.
Industrial Economy
*Xinhua net organized group meeting of 26 virtual characters for talent show on Dec 10th.
Co Focus
*Three presidents of Moutai investigated Wuliangye and reached mutual consent that communication mechanism between the two parties shall be optimized with new phase of cooperation to be created for high-quality development of baijiu industry.
*138 covid cases were reported in Zhejiang province and some listed companies, 301193, 300411, 002931, 300943 and 002915 for instance, have announced temporary production suspension.
*Block Trade Info
*Discount
-SMIC (688981 CH) saw 2 block trade worth 40mn at 55.55/45yuan per share, 1.51/20.21pct discount from last closing.
-Zhongnan Heavy (002445 CH) saw 2 block trade worth 103mn at 2.63 yuan per share, 11.45pct discount from last closing.
-Ping An Insurance (601318 CH) saw 2 block trade worth 7.7mn at 46.4 yuan per share, 9.41pct discount from last closing.
-Offcn Education (002607 CH) saw 1 block trade worth 92mn at 9.17yuan per share, 11.57pct discount from last closing.
-Seeyon Internet (688369 CH) saw 2 block trade worth 16mn at 61.5yuan per share, 4.22pct discount from last closing.
-Vantone Development (600246 CH) saw 3 block trade worth 12mn at 9.59-9.91yuan per share, 14.91/12.07pct discount from last closing.
-Tinci Materials (002709 CH) saw 1 block trade worth 99mn at 127.51yuan per share, 1.61pct discount from last closing.
Premium
-Bank of Communications (601328 CH) saw 1 block trade worth 14.5mn at 5.05 yuan per share, 9.54pct premium from last closing.
-Gold Mantis (002081 CH) saw 1 block trade worth 16.5mn at 6.61 yuan per share, 10.72pct premium from last closing.
*Margin Trade
|
Total Margin Balance |
1.7240trillion |
Total Short Selling Balance |
118.4billion |
|
SH Margin Balance |
0.9100trillion |
SH Short Selling Balance |
77.7billion |
|
Top Five Margin Trade Net Bought (in CNY) |
Top Five Short Selling Net Sold (in shares) |
||
|
600905 |
508mio |
512100 |
14mio |
|
600702 |
437mio |
688110 |
4.55mio |
|
600522 |
218mio |
512800 |
3.98mio |
|
601919 |
191mio |
601988 |
2.95mio |
|
688110 |
174mio |
601991 |
2.77mio |
|
SZ Margin Balance |
0.8139trillion |
SZ Short Selling Balance |
40.7billion |
|
Top Five Margin Trade Net Bought (in CNY) |
Top Five Short Selling Net Sold (in shares) |
||
|
000858 |
259mio |
002434 |
1.36mio |
|
002340 |
194mio |
002340 |
0.7mio |
|
300274 |
119mio |
002610 |
0.66mio |
|
300015 |
113mio |
300987 |
0.64mio |
|
002129 |
111mio |
002204 |
0.49mio |
*Connection Trade
|
SH-HK Connection (bn cny) |
SZ-HK Connection (bn cny) |
||||
|
Northbound Net Cash Flow |
6.2 |
Northbound Net Cash Flow |
2.9 |
||
|
Southbound Net Cash Flow |
1.7 |
Southbound Net Cash Flow |
1.2 |
||
|
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 |
|
600519 |
121.6 |
0.46 |
300750 |
237 |
1.84 |
|
300059 |
115.8 |
3.64 |
002049 |
68 |
5.09 |
|
600036 |
93.9 |
0.86 |
300760 |
56 |
1.24 |
|
600887 |
79.9 |
3.24 |
600298 |
38 |
7.78 |
|
601318 |
60.5 |
1.09 |
002271 |
25 |
2.76 |
*Index Futures
|
Position of Top 20 members (Unit lots) |
||||||
|
CSI 300 Index Futures |
Trading Volume |
Change* |
Long OI |
Change* |
Short OI |
Change* |
|
IF2112 |
85,907 |
-35,747 |
64,832 |
-7,571 |
69,716 |
-10,338 |
|
IF2201 |
18,553 |
1,322 |
14,833 |
3,530 |
16,078 |
4,526 |
|
IF2203 |
29,851 |
-7,194 |
50,444 |
267 |
61,593 |
2,384 |
|
IF2206 |
6,985 |
-1,617 |
12,019 |
618 |
15,006 |
987 |
|
SSE 50 Index Futures |
Trading Volume |
Change* |
Long OI |
Change* |
Short OI |
Change* |
|
IH2112 |
54,620 |
-19,002 |
38,556 |
-4,703 |
42,063 |
-5,379 |
|
IH2203 |
15,060 |
-5,848 |
20,883 |
658 |
26,831 |
1,041 |
|
IH2206 |
3,786 |
-3,229 |
7,845 |
-300 |
11,071 |
-25 |
|
CSI 500 Index Futures |
Trading Volume |
Change* |
Long OI |
Change* |
Short OI |
Change* |
|
IC2112 |
67,429 |
-5,838 |
66,940 |
-4,807 |
71,781 |
-7,874 |
|
IC2201 |
13,689 |
2,403 |
21,487 |
2,526 |
20,431 |
2,440 |
|
IC2203 |
21,788 |
3,303 |
61,394 |
1,320 |
76,591 |
1,102 |
|
IC2206 |
13,466 |
2,183 |
43,744 |
980 |
53,637 |
2,244 |
*Index Options
|
Position of Top 20 members (Unit lots) |
||||||
|
CSI 300 Index Options |
Trading Volume |
Change* |
Long OI |
Change* |
Short OI |
Change* |
|
IO2112 |
145120 |
-148411 |
66302 |
-1039 |
72331 |
-1372 |
|
IO2201 |
49156 |
-53760 |
38911 |
3897 |
37274 |
4316 |
*Treasury Futures
|
Position of Top 20 members (Unit lots) |
||||||
|
2-Year Treasury Bond Futures |
Trading Volume |
Change* |
Long OI |
Change* |
Short OI |
Change* |
|
TS2112 |
0 |
0 |
0 |
-240 |
0 |
-240 |
|
TS2203 |
29,610 |
12,969 |
30,823 |
884 |
32,913 |
1,365 |
|
5-Year Treasury Bond Futures |
Trading Volume |
Change* |
Long OI |
Change* |
Short OI |
Change* |
|
TF2112 |
40 |
-68 |
0 |
-2,604 |
0 |
-2,604 |
|
TF2203 |
33,320 |
-7,377 |
59,239 |
1,522 |
65,046 |
2,346 |
|
10-Year Treasury Bond Futures |
Trading Volume |
Change* |
Long OI |
Change* |
Short OI |
Change* |
|
T2112 |
0 |
-20 |
0 |
-480 |
0 |
-480 |
|
T2203 |
85,568 |
-20,867 |
108,984 |
1,365 |
118,120 |
-16 |
*Night Session Commodities Market (As of 02:30 am)
|
Top 3 Gainers (Dominant Contract) |
|||||
|
Product |
Contract |
Price |
Change % |
Trading Volume |
Open Interests |
|
LPG |
pg2201 |
4,509.0 |
+3.68% |
65,529 |
38,452 |
|
Ethenylbenzene |
eb2201 |
8,186.0 |
+2.15% |
87,990 |
76,661 |
|
Rapeseed Meal |
rm201 |
2,859.0 |
+1.71% |
192,782 |
168,076 |
|
Top 3 Loser (Dominant Contract) |
|||||
|
Product |
Contract |
Price |
Change % |
Trading Volume |
Open Interests |
|
Coking Coal |
jm2205 |
1,916.0 |
-4.2% |
29,126 |
34,101 |
|
Bleached Softwood Kraft Pulp |
sp2201 |
5,634.0 |
-3.73% |
145,935 |
87,414 |
|
PVC |
v2205 |
8,009.0 |
-1.92% |
432,610 |
271,655 |
Commodities (night session):
* Global crude oil price rose collectively. January NYMEX crude oil contract up 1.44% to closed at $71.96/b, February Brent contract up 1.22% to closed at $75.33/b, INE crude oil active contract up 0.49% to closed at 474.7yuan/b.
* SHFE gold active contract closed at 368.5 yuan/gram (up 0.41%).
* Metals mostly closed down. LME aluminum down 0.59%, copper down 0.84%. SHFE aluminum down 0.37%, copper down 0.13%.
* Commodity futures performed mixed. Energy & chemistry sector saw diverge performance, LPG rose 3.68%, ethenylbenzene went up 2.15%, bitumen up 1.6%. Back series mostly closed down, coking coal declined 4.2%, coke down 1.49%. Agriculture commodity futures mostly closed up, rapeseed meal up 1.71%, corn up 1.37%.
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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.
