DZ20220530

 

*Key points

Policy

*Shanghai local government issued plan to speed up economic recovery and revitalization which said to 1) promote automobile consumption via 40k more non-business vehicle licenses, purchase tax deduction and purchase subsidy on NEV; 2) promote healthy property development with early-stage green channel for project approval set up and new batch of project supply launched to support housing demand; 3) employment potential to be explored and more positions to be provided by state-owned funds; 4) supporting policies of foreign trade to be implemented and storage fee encouraged to be exempted by ports and airlines; 5) Tax refund and deduction to be enhanced with one-time subsidy given to more industries. Supporting policies will be implemented from June 1st 2022 to the end of the year.

*As introduced by vice secretary of Shanghai government that the new round of supporting measures issued would alleviate burden for market entities over cny 300bn for the year on the basis of 21 measures issued at end-March.

*Shenzhen issued measures to further promote stable growth and quality improvement of industrial economy which emphasized investment in advanced manufacturing projects in integrated circuit, ultra HD display, NEV and high-end medical equip fields. VAT deduction and refund to be implemented in large scale and proportion lifted for qualified medium-small and manufacturing firms.

 

Financials

*Shanghai Stock Exchange and CSI index company issued announced on constituents adjustments of SSE50, SSE180, SSE380 and STAR 50, to take effect after market closing on June 10th.

*PBoC and 2 other depts jointly issued notice to further facilitate participation of foreign investment in bond market via direct/connect methods with unified cross-border administration of capital and investment range expanded to exchange bond market.

 

Industrial Economy

*CSRC and NDRC jointly issued notice on REITs in infrastructure field with isolation mechanism set up on participants and use of fund collected. Illegal fund flow in commercial housings and property development will be prevented.

 

*Block Trade Info

*Discount

- Zhejiang Construction (002761 CH) saw 1 block trade worth 56mn at 37.4yuan per share, 0.00 discount from last closing.

- Joinn Laboratories (603127 CH) saw 17 block trades worth 101mn at 96.82yuan per share, 7.97 discount from last closing.

- Salt lake (000792 CH) saw 10 block trades worth 1188mn at 30.01 yuan per share, 2.88 discount from last closing.

 

*Flat

- Muyuan Foods (002714 CH) saw 1 block trade worth 117mn at 49.31yuan per share, 0.00 discount from last closing.

- Guolian Securities (601456 CH) saw 2 block trades worth 60mn at 10.22yuan per share, 0.00 discount from last closing.

 

*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 July contract of WTI rose by 0.86%, quoted at $115.07/barrel. The July contract of Brent shifted higher by 1.01%, closed at $115.32/barrel. Overall, main contracts of WTI and Brent inched up by 4.34% and 2.46% WoW respectively.

* COMEX gold futures closed higher to $1,850.6 per ounce with 0.16% increase, COMEX silver futures settled at $22.135 per ounce, up by 0.77%. Both gold and silver futures closed up WoW with 0.46% and 2.13% respectively.

* For the night session of May 30, commodity market mostly closed up for black series leading the upside. Coke and coking coal both surged over 3% and closed up. Iron ore and steel rebar rose by 3.04% and 1.6% respectively. Regarding chemical and energy sectors, paper pulp rose the most with 1.65% increase, bitumen and soda ash quoted by more than 1% higher. TSR 20 inched up slightly while fuel oil dropped over 3%. In terms of agricultural products, rapeseed meal rose by 1.49%.

* LME metals mostly closed up with LME copper rose by 1.46% to $9,490/ton, LME zinc up by 3.44% to $3,864/ton, LME nickel rallied by 4.95% to $28,545/ton, LME aluminum up by 0.12% to $2,868.5/ton. LME tin shifted 1.69% higher to $34,200/ ton, and LME lead quoted 1.79% higher at $2,165.5 ton.

 

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