Morning Brief 2023-10-09

DZ20231009

 

Xi’s Emphasis

*The magazine “Qiushi” published an important article by General Secretary Xi Jinping titled “Several Major Relationships Need to Deal with in Promoting Chinese-style Modernization”, which pointed out that promoting Chinese-style modernization is a systematic project that requires overall planning, systematic planning and overall promotion to correctly handle a series of major relationships.

 

International Relationship

*The MoF of China issued a joint statement on the third Sino-German high-level financial dialogue on October 1st, which pointed out to strengthen macroeconomic policy coordination through multiple bilateral channels, jointly promote world economic recovery and sustainable development, and maintain global financial stability. Both parties welcoming the issuance and listing of global depositary receipts (GDRs) and Chinese depositary receipts (CDRs).

 

Financials

*HKEX: Actively studying market arrangements with the Government of the Hong Kong Special Administrative Region (China) and regulatory agencies to continue operating in severe weather conditions, especially pushing for an accelerated implementation of a proposal to maintain financial market openness during the typhoon.

*The SSE and SZSE clarified the rumors that after the holiday, A-shares will extend trading hours and try T+0.*

 

Industrial Economy

*General Office of the State Council issued “Several Measures to unleash the potential of tourism consumption and promote high-quality development of tourism”, which proposed to include eligible projects in the tourism field into the scope of local government special bond support.

*MIIT publicly solicited opinions on the “Innovative Information and Communication Industry Management to Optimize Business Environment”, which pointed out that expanding the opening of telecommunications services. Expand telecommunications business in an orderly manner and open it to the outside world, explore piloting in free trade ports and other regions, and pilot expanding open value-added telecommunications services.

*Shenzhen issued a notice on the implementation plan for carbon peaking, which mentioned to encourage private purchases and use of NEV, guide the replacement of fuel vehicles into NEV, and by 2025, the proportion of newly added new energy and clean energy power vehicles will reach about 60%.

 

Data

*China September official manufacturing PMI was 50.2, expected to be 50, and the previous value was 49.7. Non-manufacturing PMI was 51.7, expected to be 51.6, and previous value of 51. Manufacturing PMI has rebounded for four consecutive months and rose to the expansion zone for the first time since April.

 

Sept 28 Block Trade Info

*Discount

- Agricultural Bank of China (601288 CH) saw 1 block trades worth 640.58mn at 3.28yuan per share, 8.89pct discount from last closing.

- Mgi Tech (688114 CH) saw 4 block trades worth 32.14mn at 67.08yuan per share, 10.42pct discount from last closing.

- Taienkang Pharma (301263 CH) saw 5 block trades worth 49.76mn at 16.37yuan per share, 11.75pct discount from last closing.

 

*Premium

- Goodix Tech (603160 CH) saw 1 block trades worth 53.98mn at 66.18yuan per share, 8.14pct premium from last closing.

 

*Margin Trade (SZ Margin Trade balance not released)

 

*Connection Trade

 

*Index Futures

 

*Index Options

 

*Treasury Futures

 

* Commodities (during the holiday):

* Global crude oil price closed down collectively. November NYMEX crude oil contract down 12.35% to closed at $82.81/b, December Brent contract down 11.16% to closed at $84.43/b.

* Precious metals closed down collectively. COMEX gold active contract down 2.36% and closed at $1847.00/oz. COMEX silver active contract down 4.06% and closed at $21.77/oz .

* Metals closed down mostly, LME tin down 3.79%, LME nickel down 2.24%, LME copper down 0.76%, LME aluminum up 0.11% on the contrast.

* Commodity futures closed mixed. CBOT soybean oil down 5.39%, CBOT soybean meal down 4.50%, CBOT soybean down 2.99%. CBOT corn up 1.86%, ICE sugar up 1.63%.

 

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