DZ20220801

*Key Points

Financials

*China July non-manufacturing PMI of 53.8, vs estimate 53.8 and previous of 54.7. China July manufacturing PMI of 49, vs estimate 50.4 and previous of 50.2.

 

Policy

*Premier Li Keqiang held State Council general meeting and pointed out to issue measures stimulating demand, effective investment and consumption with food production in autumn emphasized. Vehicle purchase restricted regions shall increase quota and ease restriction with purchase tax exemption policy on NEV extended. Rigid and improving housing demand to be supported with subsidy encouraged on green smart home appliance. Besides, digital consumption shall be actively developed.

 

Rule

*Shanghai and Shenzhen Stock Exchanges issued revised trading rule for convertible bonds and set 20% up/down limit from the second day of listing, take effect from Aug 1st.

 

Industrial Economy

*MOHURD and NDRC jointly issued national infrastructure construction plan during the 14th FY which aims to realize green transformation of urban development and production by 2025 with "urban disease" of megacities effectively alleviated and infrastructure shortage of medium-small cities repaired.

*Chairman of China Real Estate Association said on the Boao 21st century real estate forum that 1) property market has touched the bottom, though to see decline y/y in coming months amid high bases with sales in 2022 decline by 20-30% and investment down by 10%; 2) rare possibility of liquidity risk expansion; 3) local policies to stabilize market still under watch.

 

Co Focus

*XiAn govt signed strategic cooperation contract with BYD with cooperation on NEV, power battery, smart terminals and transportation to be carried forward for mutual benefits.

*Chendu govt signed strategic cooperation contract with CATL for launch of major industrial projects and CATL to set up operation headquarter and research house focusing on development and utilization of new energy, power battery and new-type power storage in Chendu city.

 

July 29th Block Trade

*Block Trade Info

*Discount

- Supcon Tech (688777 CH) saw 3 block trades worth 20mn at 76 yuan per share, 4.81 discount from last closing.

- Yintai Gold Co.(000975 CH) saw 1 block trade worth 53mn at 10.69 yuan per share, 1.47 discount from last closing.

- W-Olf Photoelectric (002962 CH) saw 1 block trades worth 16mn at 9.91 yuan per share, 8.83 discount from last closing.

-Wanlima (300591 CH) saw 4 block trades worth 19mn at 4.55 yuan per share, 20.04 discount from last closing.

- Shuanghuan Driveline (002472 CH) saw 3 block trades worth 18mn at 37.99yuan per share, 4.01 discount from last closing.

- Drinda Auto (002865 CH) saw 3 block trades worth 319mn at 159.3 yuan per share, 2.80 discount from last closing.

 

*Flat

- Yonyou Network (600588 CH) saw 3 block trades worth 31mn at 20.85 yuan per share, 0.00 discount from last closing.

 

*Premium

- Sai Microelectronics (300456 CH) saw 2 block trades worth 39mn at 16.19 yuan per share, 2.53 premium 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 up collectively. September NYMEX crude oil contract up 1.95% to closed at $98.30/b, September Brent contract up 2.13% to closed at $103.66/b. INE crude oil active contract up 2.13% to 696.7 yuan/b.

* Precious metals closed up collectively. COMEX gold active contract up 0.76% to closed at $1782.7/oz, SHFE gold active contract up 0.68% to closed at 386.34 yuan/gram.

* Metals closed up collectively. LME nickel up 8.5%, LME zinc up 4.49%, LME tin up 2.25%, LME copper up 2.1%. SHFE nickel up 7.34%, SHFE tin up 4.87%, SHFE zinc up 2.66%, SHFE copper up 2.55%.

* Commodity futures closed up mostly. Energy & chemistry futures showed a strong performance, fuel oil up 6.14%, LPG up 2.86%, bitumen up 2.12%, methanol up 2.06%, EB up 1.78%. Black series went up mostly, iron ore up 3.84%, coke up 2.32%, steel rebar up 2.22%, hot-rolled coil up 2.01%. Thermal coal down 0.37% on the contrast. Agricultural products closed up collectively, rapeseed meal up 4.21%, No.1 soybeans up 3.42%, RBD palm olein up 3.36%, soybean oil up 3.19%, No.2 soybeans up 2.93%, soybean meal up 2.35%.

 

Download PDF

 

 

 

DISCLAIMER

The report is issued by Orient Securities Co. LTD (Orient Securities) and Shanghai Orient Futures Co. LTD (Orient Futures) to institutional investors. Opinions expressed may differ from those of other divisions of Orient Securities, including Orient Securities Research Institute. Orient Securities may trade as principal in instruments identified herein and may accumulate/have accumulated a long or short position in instruments or derivatives thereof. Orient Securities has policies designed to negate conflicts of interest. This e-mail is not an official confirmation of terms and unless stated, is not a recommendation, offer or solicitation to buy or sell. Any prices or quotations contained herein are indicative only. Communications may be monitored.