DZ20220606
 

*Key points

Policy

*Beijing issued plan on pandemic control and stable economic growth which pointed out to 1) expand productive investment, accelerate construction of major functional districts and urban sub-centers with a batch of key projects in integrated circuit, NEV and medical health fields promoted; 2) special bonds to be issued by end-June and to be fully used by end-Aug; 3) listing of qualified REITs in infrastructure filed to be promoted; 4) circulation of second-hand cars and elimination of old cars to be optimized with subsidies to be given on NEV purchase; 5) “housing is for living rather than speculation” to be insisted with rigid and improving housing demand ensured and price stabilized.

*The export-import bank of China issued 28 measures to play the role of finance on short board repair and cross-cyclical adjustments to support high-quality development of economy via rate and fee cuts.

 

Industrial Economy

*NDRC issued notice to promote construction of modern cold-chain logistics system with three-level network supported and a batch of leading firms with global competitiveness cultivated.

*Suzhou local government issued plan of public charging facilities of electric vehicles during the 14th FY and plans to build up 200k units of charging facilities by 2025 to satisfy demand of 380k electric vehicles in total investment of cny 6bn with market value of around cny 80bn electric vehicles and cny 30bn power battery to be driven.

 

Data

*China domestic tourists during the dragon boat festival of 79.61mio, down 10.7% y/y, recovered to 86.8% level in 2019 and domestic tourism revenue of cny 25.82bn, down 12.2% y/y, back to 65.6% level in 2019, according to Ministry of Culture and Tourism, Securities Journal reported.

 

Rumors

*Market rumors saying STAR board to cut investor entry barrier from 500k yuan to 200k or even 100k yuan, while no heard of such info as responded by related supervisory dept.

 

June 2nd Block Trade

*Discount

- SMIC (688981 CH) saw 2 block trades worth 82mn at 43.23yuan per share, 2.9 discount from last closing.

- Cngr Advanced Material (300919 CH) saw 8 block trades worth 179mn at 107.64yuan per share, 1.25 discount from last closing.

- Supcon Tech (688777 CH) saw 6 block trades worth 118mn at 74.15yuan per share, 6.14 discount from last closing.

- Intretech Inc (002925 CH) saw 1 block trade worth 54mn at 17.9yuan per share, 13.78 discount from last closing.

- Ming Yang Smart (601615 CH) saw 5 block trades worth 39mn at 23.11yuan per share, 11.59 discount from last closing.

*Flat

- China Shipbuilding (601989 CH) saw 1 block trade worth 236mn at 3.69yuan 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 2.9%, quoted at $120.26/barrel. The August contract of Brent shifted higher by 2.95%, closed at $121.08/barrel. Crude oil settled with gains for 6 weeks.

* COMEX gold futures closed 0.94% lower at $1,853.9 per ounce, and COMEX silver futures settled at $21.94 per ounce, down by 1.5%. The decrease mainly came as a result of rising US dollars. The gold holding positon of SPDR Gold Trust dropped by 1.16 tons to 1066.04 tons.

* To resolve the global energy supply crisis, OPEC+ agreed to add the production rate by about 50%, and increase the output by 648,000 barrels per day in July and August.

* According to Gainesville Coins Precious Metals Analyst, the Feds aggressive approach still poses risks to the gold structure, as well as quantitative tightening and interest rate cut will possibly intensify the pressure on gold prices in the short term.

 

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