DZ20220331

 

*Key points

Macro

*The State Council general meeting held suggest to well use government bonds to expand effective investment, promote impairment of shortcomings and stable economic growth. Stable growth will be prioritized with policies to stabilize economy to be issued and no measures against market expectation will be released, plans to be formulated in coping with greater uncertainties. A new batch of mature water conservancy projects will be launched to improve security of water resource with annual investment to reach around cny 800bn.

*PBoC held Q1 regular meeting which pointed out to 1) enhance forward-looking, accuracy and autonomy of policy and to 2) intensify implementation of prudent monetary policy to provide solid support on real economy. 3) Transmission mechanism of monetary policy will be further unclogged to maintain abundant liquidity and stable macro leverage ratio. 4) Support on small-micro enterprises, tech innovation and green development will be enhanced by financial institutions. 5) Comprehensive corporate financing cost will be lowered with debt cost of banks stabilized. 6) Legitimate rights of house purchaser will be maintained to reasonable housing demand and benign cycle of property market.

 

Industrial Economy

*Chinese regulators pledged to step up oversight of the livestreaming platforms and vowed to root out tax evasion on livestreaming services.

*Opinions on centralized procurement of high valued medical consuming equipment and supporting facilities was issued which mentioned inclusion of medical insurance payment and payment of medical funds in proportion.

*PBoC held 2022 tech work teleconference which requires to enhance construction of network security system in financial industry with safety management of financial data emphasized and demonstration projects of rural revitalization empowered by fintech further implemented and digital tech application under regulation by innovative supervision tools adopted.

 

*Block Trade Info

*Discount

- Merchants Bank (600036 CH) saw 5 block trades worth 81mn at 45.74yuan per share, 1.06 pct discount from last closing.

- Yango Group (000671 CH) saw 1 block trade worth 130mn at 3.63yuan per share, 5.96 discount from last closing.

- Yatai (Group) Co（600881 CH）saw 2 block trades worth 50mn at 3.05yuan per share, 0.65pct discount from last closing.

- 37 Entertainment (002555 CH) saw 2 block trades worth 43mn at 22.07yuan per share, 5.28pct discount from last closing.

- Pudong Development Bank (600000 CH) saw 2 block trades worth 66mn at 11.39yuan per share, 1.26pct discount from last closing.

- Pharmaron (300759 CH) saw 2 block trades worth 114mn at 118yuan per share, 0.64pctdiscount from last closing.

*Flat

- Zijin Mining (601899 CH) saw 1 block trade worth 63mn at 11.46yuan per share, 0.00 pct discount from last closing.

*Premium

- Xueda Education (000526 CH) saw 4 block trades worth 76mn at 7.82yuan per share, 5.13pct premium from last closing.

 

*Margin Trade

*Connection Trade

*Index Futures

*Index Options

*Treasury Futures

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

Commodities (night session):

* EIA: the US crude oil stockpile decreased by 3400 thousand barrels last week to the lowest level since Sep 2018. Global crude oil price rose collectively. May NYMEX crude oil contract rose 3.09% to closed at $107.46/b. June Brent contract rose 2.87% to closed at $110.8 /b. INE crude oil active contract rose 4.86% to closed at 695 yuan/b.

* The weakening USD has boosted gold price. COMEX gold active contract rose 1.01% to closed at $1937.4/oz. SHFE gold active contract closed at 395.9 yuan/gram (up 0.94%).

* Metals all closed up. LME aluminum up 3.36%, copper up 0.53%. SHFE aluminum up 1.01%, copper up 0.11%, bonded copper down 0.26%.

* Commodity futures mostly closed up, Energy & chemistry futures saw strong performance, fuel oil rose 5.51%, low sulfur fuel oil rose 5.05%, LPG up 4.48%. Black series mostly went up, iron ore up 4.72%, coke up 3.04%, Agriculture futures mostly closed up, rapeseed meal rose 1.79%, No.1 soybean rose 1.71%.

 

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