DZ20220329

 

*Key points

Financials

*China expanded personal income deductions to include childcare expenses for children under age of three with deductible amount of 1k yuan per month for each child, takes effect from Jan 1st retrospectively.

*Shanghai Banking and Insurance Supervision Bureau issued notice to renew loans in seamless convergence. 15 banks are selected for trial and expect to reach total increments of cny 10bn for phase one and cny 100bn after 1-year promotion with around cny 1bn cost saved.

 

Industrial Economy

*Person in charge in a state-owned power enterprise suggested China is considering distribution of subsidy in debt on new energy power project in a lump-sum to solve insufficient cash flow and improve strength of new energy development, Securities Journal reported.

 

Co Focus

*Huawei disclosed 2021 annual earnings report with operation income of cny 636.8bn and profit of cny 113.7bn realized, up 75.9% y/y with R&D investment of cny 142.7bn, hit new high for record.

*Sunac China Holdings (1918. HK) expects failure to issue non-audited annual earnings of 2021 as scheduled and to suspend trading from April 1st.

 

Mar 28th Block Trade

*Block Trade Info

*Discount

- Lead Intelligent Equipment (300450 CH) saw 2 block trades worth 10mn at 56.28yuan per share, 2.46 pct discount from last closing.

- Yango Group (000671 CH) saw 2 block trades worth 186mn at 4yuan per share, 6 discount from last closing.

- Tibet Tourism (600749 CH) saw 1 block trade worth 16mn at 12.34yuan per share, 11.35pct discount from last closing.

- Tianfeng Securities (601162 CH) saw 4 block trade worth 102mn at 3.39yuan per share, 0.88pct discount from last closing.

*Flat

- Seazen Holdings（601155 CH）saw 2 block trades worth 56mn at 28.14yuan per share, 0.00pct discount from last closing.

- Contemporary Amperex (300750 CH) saw 5 block trades worth 73mn at 487yuan per share, 0.00pct discount from last closing.

- Tongkun Group (601233 CH) saw 3 block trades worth 33mn at 17.46yuan per share, 0.00pct discount from last closing.

 

*Margin Trade

*Connection Trade

*Index Futures

*Index Options

*Treasury Futures

 

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

* Global oil prices mostly closed down as May contract of WTI slumped by 9.14%, quoted at $103.49/barrel. Likewise, June contract of Brent dropped by 9.27%, closed at $106.49/barrel. OPEC+ stated that they do not have plans to change the crude oil supply even though there’s still uncertainty of geopolitical risks between Russia and Ukraine.

* COMEX gold futures closed lower to $1,922.1 per ounce with 1.64% decline, while COMEX silver futures settled at $25.035 per ounce with 2.26% decrease. The upward move of US dollar has weakened the gold demand.

* For the night session of March 29, commodities market mostly closed down with chemical and energy sector leading the downside, fuel oil and low sulfur fuel oil both dropped more than 4%, PTA and methanol shifted over 2% lower. Black series closed mixed for coking coal rose close to 2% and iron ore inched up by 1.1%, while thermal coal fell 1.19% and closed down. In terms of agricultural products, both soybean meal and No.2 soybean settled with approximately 2% decrease.

* LME metals mostly closed up with LME copper rose by 0.91% to $103,60/ton, LME zinc up by 0.77% to $4,098/ton, LME nickel slumped by 7.02% to $33,000/ton, LME aluminum went flat at $3,605/ton, LME tin shifted 0.45% higher to $42,475/ ton, while LME lead closed up with 0.79% increase to $2,369/ton.

 

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