DZ20230306

 

Two sessions

*The 1st session of the 14th CPPCC held opening ceremony on March 4th and will close on March 11th, in total seven and half days.

*The 1st session of the 14th NPC held opening ceremony on March 5th and will close on March 13th, in total eight and half days.

*Outlines of work emphasis in government work report by premier Li Keqiang: 1) expand and prioritize domestic demand; 2) accelerate construction of modern industrial system focusing on key manufacturing industrial chains for breakthrough of key tech; 3) deepen reform of state owned firms with improving core competitiveness; 4) effectively prevent and resolve economic financial risk; 5) stabilize food production and promote rural revitalization; 6) promote green transformation; 7) enhance construction of housing security system, support rigid and improving housing demand.

*Jin Zhuanglong, head of MIIT suggested key works to be carried forward including 1) promote growth of key industries; 2) step up investment, encourage supports of financial institutions and capital market on manufacturing industry; 3) expand consumption; 4) full play of local initiatives. Top design in promoting renovation and upgrade of traditional industries to be formulated toward high-end, intelligent and green development. Projects in reconstruction of basic fundamentals and key tech equipment breakthrough to be implemented with emphasis.

 

Financials

*Hong Kong Stock Exchange announced to officially expand coverage range of connect stocks with qualified HK listed foreign companies, qualified SHCOMP and SZSE Composite Index to be added in from March 13th.

 

Industrial Economy

*CPCAAUTO: preliminary estimate of NEV wholesale in Feb of 500k units, up 30% m/m and up 60% y/y. Wholesale of Tesla in Feb around 74.4k units.

*MOHURD issued common national standard for water proofing in construction and municipal engineering projects, to take effect from April 1st.

 

Co Focus

*Longi announced price upward adjustment of P-type monocrystalline silicon by around 4%.

 

*Mar 3rd Block Trade

*Block Trade Info

*Discount

- Shaanxi Jinye (000812 CH) saw 6 block trades worth 19mn at 5.85 yuan per share, 11.63 discount from last closing.

- Yixintang Pharmaceutical Co.(002727 CH) saw 10 block trades worth 93mn at 31.82 yuan per share, 7.01 discount from last closing.

- Ecovacs Robotics Co. (603486 CH) saw 1 block trade worth 55mn at 82.25 yuan per share, 8.36 discount from last closing.

- SMIC (688981 CH）saw 2 block trades worth 34mn at 42.69 yuan per share, 1.41-1.5 discount from last closing.

*Flat

- Hengyi Petrochemical Co.(000703 CH) saw 5 block trades worth 42mn at 8.3 yuan per share, 0.00 discount from last closing.

- Kweichow Moutai Co. (600519 CH) saw 2 block trades worth 36mn at 1818.04 yuan per share, 0.00 discount from last closing.

- Zhongjin Gold Corp. (600489 CH）saw 2 block trades worth 35mn at 8.76 yuan per share, 0.00 discount from last closing.

- Guangzhou Development (600098 CH) saw 2 block trades worth 57mn at 6.01 yuan 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 up collectively. April NYMEX crude oil contract up 2.16% to closed at $79.85/b, May Brent contract up 1.37% to closed at $85.91/b. INE crude oil active contract up 1.64% to 575.0 yuan/b.

* Precious metals closed up collectively. COMEX gold contract up 1.21% to closed at $1862.8/oz. SHFE gold active contract up 0.50% to closed at 416.78 yuan/gram.

* Metals closed mixed, LME copper down 0.39%, LME lead down 0.35%, LME aluminum down 0.23%, LME nickel up 0.72% on the contrast. SHFE nickel up 1.79%, SHFE zinc up 0.90%, SHFE tin up 0.55%.

* Commodity futures closed mixed, energy & chemistry futures saw weak performance, soda ash down 1.18%, TSR 20 down 1.07%, natural rubber down 0.99%. Black series closed up mostly, iron ore down 1.31%. Agriculture futures closed up mostly, sugar up 1.27%, cotton yarn up 0.97%.

 

 

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