DZ20220506

 

*Key points

Policy

*The State Council general meeting held confirmed measures to push forward foreign trade with quality to be improved, including 1) support exports of major and labor intensive industries; 2) smooth shipment at harbor and airport; 3) issue policy to facilitate cross-border e-commerce, add labor intensive processing trade in mid-west and northeast regions into list of supports; 4) enhance credit allocation for foreign trade enterprises; 5) optimize platform service like the Canton fair.

 

Covid

*The standing committee of the Politburo held meeting which emphasized uncertain trend of covid variants and disposal of regional concentrated pandemic to be accelerated.

 

Industrial Economy

*Ministry of Agriculture and Rural Affairs suggest the spring sowing saw faster pace and larger scale vs last year with bottom line task set to maintain whole year food capacity above 1.3tn jin.

 

Co Focus

*Zeng Yuqun, president of CATL said in response to stock price plummet that co valuation shall refer to world-class high-tech enterprises at early stage given its market share of 35% and growth potentials facing over 10X mkt, Shanghai Securities Journal reported.

*Evergrande held monthly work conference and suggest sales of cny 3.09bn has been realized in April. 562 projects are under normal construction and 179 in process of construction resumption with building handover of 100k units to be completed in May.

*Hikvision suggested that news reported by the Financial Times has yet been confirmed by the U.S. government with authenticity to be verified, Securities Journal reported.

 

*Block Trade Info

*Discount

- CICC (601995 CH) saw 1 block trade worth 22mn at 34 yuan per share, 7.58 discount from last closing.

- iRay Tech (688301 CH) saw 6 block trades worth 36mn at 328.68 yuan per share, 1.00pct discount from last closing.

- Xilinmen (603008 CH) saw 6 block trades worth 80mn at 25yuan per share, 4.43 discount from last closing.

- Weichai Power (000338 CH) saw 3 block trades worth 68mn at 11.08yuan per share, 0.00 discount from last closing.

- Pylon Tech (688063 CH) saw 11 block trades worth 183mn at 161.7yuan per share, 2.00 discount from last closing.

 

*Flat

- Zhongji Innolight (300308 CH) saw 2 block trades worth 19mn at 31.91 yuan per share 0.00 discount from last closing.

- Zhonghuan Semiconductor (002129 CH) saw 2 block trades worth 28mn at 39.02yuan per share, 0.00 pct discount from last closing.

- Weichai Power (000338 CH) saw 3 block trades worth 68mn at 11.08yuan per share, 0.00 discount from last closing.

*Premium

 

*Margin Trade

*Connection Trade

*Index Futures

*Index Options

*Treasury Futures

 

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

* Global oil prices mostly closed up as June contract of WTI rose by 0.74%, quoted at $108.61/barrel, recorded the new high since March 25. July contract of Brent shifted up by 0.83%, closed at $111.05/barrel. Since the European Union proposed sanctions against Russian oil once again, market supply concerns increased.

* COMEX gold futures closed higher to $1,877.2 per ounce with 0.45% increase. COMEX silver futures settled at $22.53 per ounce, added 0.57%.

* For the night session of May 6, commodity market mostly closed down for chemical and energy series leading the downside. Fuel oil and low sulfur fuel oil slipped by 2.73% and 0.99% respectively. While bitumen shifted up by 1.45%. Regarding black series, thermal coal dropped close to 2%, coking coal and iron ore both closed approximately 1% lower. In terms of agricultural products, rapeseed meal and palm oil fell by 1.89% and 1.74% respectively, and soybean oil quoted about 1% lower.

* LME metals mostly closed down with LME copper fell by 0.15% to $9,459.5/ton, LME zinc down by 2.04% to $3,884/ton, LME nickel fell by 2.08% to $30,000/ton, and LME aluminum slipped by 0.58% to $2,936/ton, while LME tin shifted 0.11% higher to $40,660/ ton, and LME lead quoted 0.39% lower at $2,272.5 ton.

 

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