Morning Brief 2022-08-23

DZ20220823

 

Financials

Industrial Economy

*Yi Gang, head of PBoC held discussion forum with some financial institutions which emphasized state-owned banks to take the lead in maintaining stability of aggregate loan growth with loan injection on real economy increased and credit supports on small-micro firms, green development and tech-innovation. Reasonable financing demand of property to be ensured and financial supports on key fields of platform economy to be enhanced.

 

*Secretary head of CPCAAUTO suggest lithium price to lay around 470-500k yuan per ton with low chance to exceed cny 500k.

 

*11 taxi platform including DIDI been questioned by regulators after inspection of hidden risk, illegal operation and issues against legitimate rights of employees and passengers.

 

*China Lithium carbonate imports in July of 9.369k ton, down 67% m/m and up 108% y/y with avg price of usd 62.498k per ton, down 3% m/m and up 878% y/y, according to China Customs.

*As shown by China robot industry development report 2022 that domestic market scale to reach usd 17.4bn in 2022 with 5-year avg growth rate of 22%.

 

Aug 22nd Block Trade

*Block Trade Info

*Discount

- Jonjee Hi-Tech (600872 CH) saw 9 block trades worth 47mn at 33.8 yuan per share, 9.87 discount from last closing.

- Sinofibers Tech (300777 CH) saw 1 block trade worth 25mn at 46.5 yuan per share, 6.14 discount from last closing.

-Genimous Tech (000676 CH) saw 5 block trades worth 20mn at 6.09 yuan per share, 16.35 discount from last closing.

- Xfh Tech (300890 CH) saw 8 block trades worth 86mn at 60.54 yuan per share, 1.4 discount from last closing.

-Wanhua Chemical (600309 CH) saw 3 block trades worth 237mn at 98.67 yuan per share, 10.47 discount from last closing.

- Seres Group (601127 CH) saw 1 block trade worth 57mn at 57.22 yuan per share, 14.37 discount from last closing.

*Flat

- Eontec Co. (300328 CH) saw 1 block trade worth 40mn at 9.97 yuan per share, 0.00 discount from last closing.

*Premium

- Pientzehuang (600436 CH) saw 3 block trades worth 153mn at 293.4 yuan per share, 0.32 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 mixed. October NYMEX contract up 0.17% to closed at $90.59/b, October Brent contract down 0.05% to closed at $96.67/b. INE crude oil active contract up 0.06% to 702.7 yuan/b. Oil price dropped over 4% during the trading session due to investors’ concerns with global economy recession and more Iran crude oil entering the market while closed with slight fluctuations after Saudi energy minister said crude futures are increasingly "disconnected" from fundamentals, which could force OPEC+ to tighten the output.

* Precious metals closed down collectively. COMEX gold active contract down 0.77% to closed at $1749.4/oz, SHFE gold active contract down 0.11% to closed at 386.72 yuan/gram. High yield of US treasuries and strong USD index generated pressure on gold price.

* Metals closed mixed, LME nickel up 2.92%, LME zinc up 1.48%, LME copper up 0.26%. LME leads down 2.8%, LME aluminum down 0.6%, LME tin down 0.39%. SHFE zinc up 1.97%, SHFE nickel up 1.03%, SHFE copper up 0.19%.

* Commodity futures closed up mostly. Energy & chemistry futures showed mixed performance, soda ash up 2.82%, methanol up 2.15%, bleached softwood kraft pulp up 1.39%, LPG up 1.36%, fuel oil down 1.32%, bitumen down 1.06%. Black series went up collectively, coking coal up 1.62%, steel rebar up 1.05%, hot-rolled coil up 0.98%, thermal coal up 0.6%. Agricultural products closed mixed, rapeseed meal up 1.59%, No.2 soybeans up 1.56%, soybean meal up 1.44%, cotton yarn down 1.11%.

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.