DZ20220112

 

*Key points

 

Financials

*The State Council issued opinions to further stabilize foreign trade through cross-cycle adjustment which pointed out to strengthen financial supports on related companies with domestic commodity supply to be ensured. Activities of global consumption promotion will be held to stimulate exports. Exemption of sustained interest from domestic sales will be extended until end 2022 on processing trade companies.

*HKMA: further 90-day repayment deferment for trade facilities will be carried out by banks.

 

Industrial Economy

*CPCAAUTO: retail sales of passenger vehicles in Dec 2021 of 2.1mio units, down 7.9% y/y and down 1.9% vs 2019 with accumulated sales in 2021 of 20.15mio units, up 4.4% y/y.

*NDRC and Ministry of Water Resource jointly issued plan of water safety during the 14th 5-year period which clarified to strengthen construction of smart water conservancy with innovative development to be improved.

*The State Grid plans on 13 UHV lines in 2022 with total investment during the 14th 5-year period of cny 380bn.

 

*Margin Trade

*Connection Trade

*Index Futures

*Index Options

*Treasury Futures

 

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

 

* Global oil prices mostly went up with February contract of WTI rose by 3.96%, quoted at $81.33/barrel, the new high over the past 2 months, and the March contract of Brent surged by 3.41%, closed at $83.63/barrel. For the week of January 1, the API crude oil inventory shrank by 1.08 million tons, last was 6.43 million tons.

* COMEX gold closed up with 1.26% increase at $1821.5 per ounce, and COMEX silver shifted 1.59% higher to $22.82 per ounce. As of January 10, the gold position of SPDR Gold Trust decreased by 0.09% to 976.21 tons.

* For the night session on January 11, commodity market mostly closed up with black series leading the upside, coking coal rose more than 2%, iron ore shifted 1.33% higher while coke went down by 0.29%. Chemical and energy sector closed mixed for soda ash rose by 1.68%, PVC closed up as well with 0.99% increase, while LPG and methanol down by 1.17% and 0.74% respectively, PTA quoted 0.69% lower by the close. In terms of agricultural products, rapeseed meal and soybean meal both declined more than 1%.

* LME metals mostly closed up with LME copper rose by 1.73% to $9,729/ton, LME zinc up by 2.34% to $3,558.5/ton, LME nickel went up by 4.79% to $21,795 ton, LME aluminum rose by 1.76% to $2,983/ton, LME tin shifted 1.96% higher to $40,700/ ton, while LME lead closed up with 1.3% increase at $2,307/ton.

 

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