DZ20220511

 

*Key points

International Relationship

*President Xi Jinping held phone talk with French President Macron which emphasized cooperation priorities in future 5 years with cooperation in emerging fields like AI and clean energy promoted. Consensus been reached on peace-restoring between Russia and Ukraine through talks.

 

Industrial Economy
*CPCAAUTO: China April retail passenger vehicle sales of 1.04mio units, down 35.5% y/y and 34% m/m with pace slowed down to new low for a single month and accumulated retail sales in Jan-April of 5.96mio units, down 11.9% y/y.

 

Financials

*NDRC and MoC are seeking for public opinions on industrial list of supported foreign investment (2022 version) which encourages investment in 1) manufacturing sector, component and equipment manufacturing to be added in; 2) production service sector, professional design, tech service and development to be added in; 3) mid-east and north-east region.

*MoC and 13 other departments jointly issued notice to carry out integration of domestic and foreign trade in trial with adjustment system to be optimized in 3 years. Production and service innovation of financial institutions are encouraged with substantial exchange-rate hedging products to be provided.

*NDRC and 3 other department jointly issued notice on cost reduction in 2022 from 8 aspects and 26 tasks arranged, including creation of favorable monetary financial environment, build up multi-layered capital market, support medium-small firms to enhance risk management of exchange rate and stabilize price of major materials and products. Incremental loan scale will be expanded and stable macro leverage ratio to be maintained. The reform potential of LPR to be released and to be fully transmitted to loan rate for stable decline of comprehensive financing cost. Market supervision of commodities to be enhanced and registration system of stock issuance to be implemented.

 

Co Focus

*News reported saying Tesla Shanghai super plant saw production suspension amid supply chain issues while normal production to resume from May 11th in steady pace.

*TSMC to adjust up price IC foundry by 6% from Jan 2022, Taiwan Economic Daily reported.

 

 

*Block Trade Info

*Discount

- SMIC (688981 CH) saw 2 block trades worth 59mn at 39.69yuan per share, 2.91 discount from last closing.

- Supcon Tech (688777 CH) saw 1 block trade worth 59mn at 65yuan per share, 0.66 discount from last closing.

- Zhongjin Gold (600489 CH) saw 1 block trade worth 215mn at 6.45yuan per share, 9.41 discount from last closing.

- Zhejiang Construction (601899 CH) saw 1 block trade worth 252mn at 41.28yuan per share, 8.31pct discount from last closing.

- Dynanonic Co (300769 CH) saw 4 block trade worth 40mn at 439.38yuan per share, 3.22pct discount from last closing.

- Kweichow Moutai (300769 CH) saw 3 block trades worth 24mn at 1695.67yuan per share, 3.99pct discount from last closing.

- Hisun Pharmaceutical (600267 CH) saw 11 block trade worth 74mn at 11.31yuan per share, 15.28 discount from last closing.

- Ninebot Limited (689009 CH) saw 10 block trades worth 71mn at 32.36yuan per share, 8.38 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 3.55% to closed at $99.43/b, July Brent contract down 3.62% to closed at $102.11/b. INE crude oil active contract down 3.83% to 647.1 yuan/b.

* COMEX gold active contract fell 1.15% to closed at $1837.2/oz, SHFE gold active contract closed at 400.6 yuan/gram (down 0.74%).

* Metals performed mixed. LME aluminum up 0.54%, copper up 0.41%. SHFE aluminum up 0.46%, copper down 0.36%, bonded copper down 0.67%.

* Commodity futures performed mixed, Energy & chemistry futures saw diverge performance, natural rubber up 0.71%, fuel oil down 2.53%. Black series mostly rose, iron ore up 1.67%, hot-rolled coil up 0.83%, steel rebar up 0.74%. Agriculture futures performed mixed as well, rapeseed meal up 1.15%, soybean meal up 0.77%, corn starch down 0.74%, RDB palm olein down 0.49%.

 

 

 

 

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