DZ20220420

 

*Key points

Financials

*President Xi Jinping emphasized to enhance construction of digital government and promote fiscal system reform below provincial level. Insurers and financing guarantee institutions shall serve the role of risk sharing to strengthen external supports on finance backed tech innovation with system construction to speed up.

*China issued opinions to further improve quality of listed companies, which emphasized 1) resource integration for development of main business; 2) support participation of active shareholders in qualified state-owned listed companies to optimize administration with authorities and responsibilities to be clarified; 3) increase efficiency with more R&D investment, role of equity incentive and dividend to be well played to enhance endogenous growth and innovative development; 4) push forward management of relationship with investors with normalized result meeting to be held, said by news spokesman of SASAC.

*Shanghai realized total exports and imports of cny 1.01tn in Q1, up 14.6% y/y and exports contributed cny 413.54bn, up 23.8% y/y with trade deficit of cny 180.83bn, 14.6% narrowed y/y, as data released by Shanghai Customs.

 

Industrial Economy

*NDRC and MIIT carried out research on capacity reduction of crude steel in 2022 which emphasized capacity reduction in key regions to prevent air pollution as well as lagging capacity with high energy consumption and low efficiency to ensure y/y decline of annual production.

*The State Council held special leader group conference which emphasized smooth transportation and logistics with excessive covid control issues to be rectified.

 

Co Focus

*Tesla has officially resumed production on April 19th with 8k employees report to duty.

 

*Block Trade Info

*Discount

- Sinofibers Tech (300777 CH) saw 1 block trade worth 30mn at 38.24 yuan per share, 15.15pct discount from last closing.

- Qingdao Commercial Bank (002958 CH) saw 1 block trade worth 42mn at 3.53 yuan per share, 2.22pct discount from last closing.

- Jiangshan Agrochemical (600389 CH) saw 17 block trades worth 220mn at 50.12yuan per share, 12.42 discount from last closing.

- Chihong Zinc&Germanium (600497 CH) saw 10 block trades worth 117mn at 5.27yuan per share, 12.17 discount from last closing.
 

*Flat

- Century Huatong (002602 CH) saw 2 block trades worth 28mn at 5.52 yuan per share, 0.00 pct discount from last closing.

- Narada Power (300068 CH) saw 1 block trades worth 40mn at 10.86 yuan per share, 0.00pct discount from last closing.

- Luzhou Laojiao (000568 CH) saw 1 block trade worth 11mn at 202.95yuan 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)

Commodities (night session):

* Global crude oil price fell collectively. June NYMEX crude oil contract down 4.84% to closed at $102.4/b, June Brent contract down 5.08% to closed at $107.41/b. INE crude oil active contract down 4.56% to 670.1 yuan/b.

* The USD index reached 2-yr high, which posted downward pressure on gold price. COMEX gold active contract fell 1.72% to closed at $1952.2/oz, SHFE gold active contract closed at 402.2 yuan/gram (down 1.06%).

* Metals mostly closed up. LME aluminum down 0.93%, copper up 0.08%. SHFE aluminum down 1.11%, copper down 0.77%, bonded copper down 0.83%.

* Commodity futures mostly closed down, Energy & chemistry futures saw weak performance, bitumen down 4%, fuel oil down 3.67%, LPG down 3.44%. Black series mostly went down, coke down 2.38%, coking coal down 2.28%. Agriculture futures performed mixed, soybean meal up 1.51%, whereas cotton yarn down 0.92%.

 

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