DZ20220707

*Key points

Policy

*Premier Li Keqiang held State Council general meeting in deployment of central budget execution and rectification of other fiscal balance issues after audit. Measures in application of e-licenses will be promoted to revitalize market.

*Shenzhen issued measures to promote stable growth of economy which pointed out to adopt interest subsidy on firms acquire loans from commercial banks for the first time in 2H 2022 by 2% and cny 200k for max. Quota for housing accumulation fund withdrawal will be lifted to 80% of monthly deposits. Cost of utility use will be reduced, rental cut is encouraged, purchase tax deduction of vehicles to be implemented and digital consumption to be cultivated.

 

Industrial Economy

*CSRC held conference in supervision of solvency on insurer sector which pointed out the sector remains overall stable with solvency adequacy ratio at reasonable range and risk under control. As of end Q1, 180 insurers under review saw avg solvency adequacy ratio at 224.2%, core ratio at 150% and actual capital of cny 4.9tn.

 

Data

*China retail sales of passenger vehicles of 1.926mio units in June, up 22% y/y and 42% m/m with wholesale up 37% y/y and 33% m/m, according to CPCAAUTO.

 

Co Focus

*BOE OLED panel has officially passed the approval by Apple iPhone 14 and the news is confirmed, though no official response can be made given confidentiality contract signed, according to someone familiar with this matter.

 

July 6th Block Trade

*Block Trade Info

*Discount

- SMIC (688012 CH) saw 9 block trades worth 121mn at 120yuan per share, 5.08 discount from last closing.

- Yangdian Sci&Tech (301012 CH) saw 4 block trades worth 14mn at 35.69yuan per share, 10.01 discount from last closing.

- Salt Lake (000792 CH) saw 8 block trades worth 582mn at 31.34 yuan per share, 3.28 discount from last closing.

- Century Huatong (002602 CH) saw 7 block trades worth 38mn at 4.3yuan per share, 7.13 discount from last closing.

- Metron New Material (300861 CH) saw 5 block trades worth 38mn at 85yuan per share, 12.24 discount from last closing.

- Foryou Corporation (002906 CH) saw 12 block trades worth 64mn at 42.89 yuan per share, 8.55 discount from last closing.

*Flat

- Wangfujing (600859 CH) saw 5 block trades worth 106mn at 23.75 yuan per share, 0.00 discount from last closing.

- Longi Green Energy (601012 CH) saw 3 block trades worth 20mn at 63.5yuan 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)

 

Commodities (night session):

 

* Global crude oil price closed down collectively. August NYMEX crude oil contract down 1.38% to closed at $98.13/b, September Brent contract down 2.89% to closed at $99.8/b. INE crude oil active contract down 4.49% to 647.4 yuan/b. The drop of oil price reflected the anxiety of slowdown of economic growth among global investors.

* Precious metals closed down collectively. COMEX gold active contract down 1.51% to closed at $1737.2/oz, SHFE gold active contract down 2.24% to closed at 376.14 yuan/gram.

* Metals closed mixed. LME tin down 4.77%, LME nickel down 4.73%, LME copper down 0.96%. LME leads up 2.78%, LME zinc up 1.37% on the contrast. SHFE tin down 1.48%, SHFE zinc up 1.75%, SHFE leads up 1.04%.

* Commodity futures closed mixed, energy & chemistry futures showed a weak performance, fuel oil down 3.84%, bitumen down 3.74%, LPG down 3.16%, PTA down 2.59%. Black series closed up collectively, coking coal up 3.27%, coke up 2.15%, iron ore up 2.06%, steel rebar up 1.39%. Agriculture futures mixed, No.1 soybeans up 0.8%, soybean meal up 0.69%, rapeseed oil down 2.1%, RBD palm olein down 1.72%, soybean oil down 1.46%.

 

 

 

 

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