DZ20220421

 

*Key points

Policy

*Premier Li Keqiang held State Council general meeting which 1) clarify measures to ensure energy supply and to add 300mio tons of coal capacity this year; 2) spring planting and grain supply will be ensured; 3) renovation of coal power units to be promoted over 220mio kWh within the year; 4) three nuclear power projects were approved and to develop in an orderly manner.

*Cyberspace Administration of China and 4 other departments jointly issued outline for development of digital rural regions in 2022 with 30 key tasks clarified and to catch up shortage of digital infrastructure.

 

Financials

*China Q1 fiscal revenue rises 8.6% y/y with tax income up 7.7% y/y and stamp tax of securities trading accounts for cny 106.7bn, up 21.3% y/y, according to MoF.

*Expert in CASS suggest China can achieve economic growth target of 5.5% in 2022 given potentials left for more easing policies and China saw moderate inflation with low fiscal deficit at current stage.

*Fang Xinghai, vice chairman of CSRC suggest ESG disclosure requires certain standard which is under research by IFRS and to have great influence on firms listed overseas and worth attention, Securities Journal reported.

*Personal pension rule to be implemented recently by voluntary participation and market operation with upper limit of annual payment set at cny 12k to purchase qualified financial products, according to someone familiar with this matter, China Securities Journal reported.

 

*Block Trade Info

*Discount

- Botanee Bio-Tech (300957 CH) saw 6 block trades worth 121mn at 172.36 yuan per share, 1pct discount from last closing.

- China Tianying Inc (000035 CH) saw 3 block trades worth 263mn at 4.53 yuan per share, 3.62pct discount from last closing.

- Asia—Potash International (000893 CH) saw 1 block trade worth 19mn at 37.52 yuan per share, 1.5 discount from last closing.

- Macalline Group (601828 CH) saw 1 block trade worth 24mn at 7.02yuan per share, 2.77 discount from last closing.

- Lingnan Eco&Culture (002717 CH) saw 1 block trade worth 39mn at 3.3 yuan per share, 8.84 pct discount from last closing.

- Oriental Pearl Group (600637 CH) saw 4 block trades worth 24mn at 6.84 yuan per share, 8.92 pct discount from last closing.

- Better Life (002251 CH) saw 2 block trades worth 182mn at 11.28 yuan per share, 1.66pct discount from last closing.

 

*Margin Trade

*Connection Trade

*Index Futures

Position of Top 20 members (Unit lots)
CSI 300 Index Futures	Trading Volume	Change*	Long OI	Change*	Short OI	Change*
IF2205	117,039	12,572	61,933	5,240	63,212	3,985
IF2206	40,648	5,956	57,231	244	69,812	230
IF2209	11,981	-866	30,862	552	39,191	805
SSE 50 Index Futures	Trading Volume	Change*	Long OI	Change*	Short OI	Change*
IH2205	54,674	1,489	26,518	468	28,596	-203
IH2206	25,278	2,803	25,141	848	33,666	296
IH2209	11,929	-2,177	19,345	499	26,833	954
CSI 500 Index Futures	Trading Volume	Change*	Long OI	Change*	Short OI	Change*
IC2205	99,507	21,256	81,352	5,859	78,961	6,880
IC2206	37,918	7,381	91,644	422	106,659	1,763
IC2209	15,458	1,070	82,479	655	90,562	815

*Index Options

Position of Top 20 members (Unit lots)
CSI 300 Index Options	Trading Volume	Change*	Long OI	Change*	Short OI	Change*
IO2205	155275	40979	70118	6134	72476	6766
IO2206	16992	7186	28521	1031	33568	1023

*Treasury Futures

Position of Top 20 members (Unit lots)
2-Year Treasury Bond Futures	Trading Volume	Change*	Long OI	Change*	Short OI	Change*
TS2206	59,167	30,971	39,934	-1,991	41,905	-1,619
5-Year Treasury Bond Futures	Trading Volume	Change*	Long OI	Change*	Short OI	Change*
TF2206	94,904	39,728	78,921	-5,675	86,694	-3,989
10-Year Treasury Bond Futures	Trading Volume	Change*	Long OI	Change*	Short OI	Change*
T2206	112,960	22,500	132,113	507	134,067	-1,449
T2209	7392	-1319	19116	675	19532	630

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

Top 3 Gainers (Dominant Contract)
Product	Contract	Price	Change %	Trading Volume	Open Interests
Ethenylbenzene	EB2205	9,918.0	+3.01%	113,138	60,932
Thermal Coal	ZC205	825.0	+1.8%	35	1,203
Bleached Softwood Kraft Pulp	SP2209	7,248.0	+1.31%	146,843	180,757
Top 3 Loser (Dominant Contract)
Product	Contract	Price	Change %	Trading Volume	Open Interests
Nickel	NI2205	234,210.0	-1.89%	39,100	45,622
Soda Ash	SA209	3,119.0	-1.89%	370,155	536,509
Stainless Steel	SS2205	19,890.0	-1%	29,161	34,758

* Global oil prices closed mixed as June contract of WTI rose by 0.39%, quoted at $102.45/barrel, while June contract of Brent slipped slightly by 0.02%, closed at $107.23/barrel. As of April 15, the EIA crude oil stock dropped by 8.02 million barrels during the week.

* COMEX gold futures closed higher to $1,960.1 per ounce with 0.06% increase. While COMEX silver futures settled at $25.385 per ounce with 0.37% decrease. The concerns on the Ukraine and Russia conflict and high inflations boosted the risk aversion sentiments.

* For the night session of April 21, commodity market closed mixed for EB leading the upside, added by 3.01% and closed up. While soda ash and methanol dropped by 1.89% and 0.84% respectively. Regarding black series, thermal coal settled with approximately 2% increase, iron ore shifted more than 1% higher, while coke slipped by 0.15% lower. In terms of agricultural products, corn and soybean meal shifted up by 0.53% and 0.44% respectively, while palm oil moved downward by 0.55%.

* LME metals mostly closed down with LME copper fell by 0.58% to $10,245/ton, LME zinc down by 1.85% to $4,415.5/ton, LME nickel fell by 0.28% to $33,675/ton, while LME aluminum up by 0.06% to $3,263/ton, LME tin shifted 0.21% lower to $43,000/ ton and LME lead quoted 1.29% lower at $2,416 ton.

 

Download PDF

 

 

 

DISCLAIMER

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.