DZ20240919

 

Financial

*The Fed significantly cut interest rates by 50bp and Federal Funds Rate target range has been lowered to 4.75%-5%, marking the first rate cut since March 2020.

*State Council Premier Li Qiang presided over the executive meeting, researched relevant measures to promote the development of venture capital, listened to the report on grain production situation and agricultural work, and approved the “Regulations on Export Control of Dual-Use Items of the People’s Republic of China”.

 

Industrial Economy

*NDRC and other 8 departments jointly issued the “Guiding Opinions on the Construction of Smart Port”, which proposes that by 2035, modern ports will be basically built to lead the development of global smart ports.

*NDRC revised and publicly solicited opinions on the “State-owned Grain and Oil Storage and Logistics Facility Protection Measures”.

 

Co Focus

*CSSC HOLDINGS (600150 CH) plans to absorb and merge CSICL (601989 CH) through share swaps by issuing A-share shares to all shareholders of CSICL and trading will resume on September 19th.

 

Sept 18 Block Trade Info

*Discount

-GIMI (688696 CH) saw 3 block trades worth 59.02mn at 42.49yuan per share, 20.00pct discount from last closing.

 

*Flat

-HTSC (601688 CH) saw 1 block trades worth 34.92mn at 12.39yuan per share, flat from last closing.

 

*Premium

-DEPPON LOGISTICS (603056 CH) saw 1 block trades worth 141.29mn at 13.14yuan per share, 8.87pct premium from last closing.

 

*Margin Trade

 

*Connection Trade Suspended

 

*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. October NYMEX crude oil contract down 1.16% to closed at $69.15/b, November Brent contract down 1.1% to closed at $72.21/b. INE crude oil active contract down 0.31% to 516.3 yuan/b.

* Precious metals closed down collectively, COMEX gold active contract down 0.29% and closed at $2584.8/oz. SHFE gold active contract up 0.57% to closed at 587.20 yuan/gram.

* Metals closed mixed, LME zinc down 1.44%, LME tin down 0.94%, LME lead up 0.69%, LME copper up 0.32%. Bonded copper up 0.74%, SHFE copper up 0.63%, SHFE zinc up 0.42%, SHFE lead down 0.40% on the contrast.

* Commodity futures closed mixed, chemistry and energy products closed mixed, butadiene rubber up 1.7%, LPG up 1.23%, soda ash up 1.12%. Black series closed mixed. Agricultural products closed mixed, rapeseed oil up 2.13%, RBD palm olein up 2%, soybean oil up 1.03%, No.1 soybeans down 1.37%.

 

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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.