DZ20231109

 

Financials

*SSE/SZSE released specific measures to optimize refinancing, which focus on further strict refinancing supervision, grasp the pace of refinancing, and highlight support for quality and quality. Strictly limit the issuance, net elimination, and non-compliance with the 18-month financing interval for continuous loss-making enterprises to issue securities to unspecified parties and implement refinancing by bidding to specific targets.

*NDRC and MoF jointly issued the “Guiding Opinions on Regulating the Implementation of New Mechanisms for Government and Social Capital Cooperation”, which mentioned that government and social capital cooperation projects should focus on user-paid projects, clarify charging channels and methods, cover construction investment and operating costs, have certain investment returns, and do not add local financial future expenditure responsibilities due to the use of government-social capital cooperation models.

*MoC organized special clean-up of regulations and measures that contain unreasonable and differential treatment between domestic and foreign capital. The clean-up matters include setting up or adopting restrictive measures against foreign investment in the field of equal access to domestic and foreign capital, which creates obstacles or creates a burden on the business activities of foreign-funded enterprises.

 

Industrial Economy

*Shanghai recently issued a notice on the issuance of “Several Measures for Promoting the Innovative Development of Artificial Intelligence Models in Shanghai (2023-2025)”, which proposed to focus on supporting the construction of demonstration application scenarios in fields such as integrated circuits, technology finance, autonomous driving and robots, rely on the Shanghai Data Exchange to establish the semantic data trading sector to support large-scale talent settlement.

*Guangzhou issued a notice on the “Guiding Opinions on Financial Support for the High-Quality Development of Guangzhou's Manufacturing Industry”, which proposed to focus on supporting three emerging pillar industries including new generation information technology, intelligent and new energy vehicles, biomedicine and health.

 

Data

*CPCAAUTO released data showing that October retail sales of general passenger car reached 2.051mio units, up 9.9% y/y and up 0.7% m/m, with retail sales of NEV reached 767k units, up 37.5% y/y and up 2.7% m/m.

 

Nov 8 Block Trade Info

*Discount

-Galaxycore (688728 CH) saw 8 block trades worth 449.46mn at 17.72yuan per share, 8.42pct discount from last closing.

- Jinko Solar (688223 CH) saw 11 block trades worth 89.80mn at 8.65yuan per share, 9.71pct discount from last closing.

 

*Flat

- Huayou Cobalt (603799 CH) saw 30 block trades worth 790.75mn at 36.92yuan per share, flat from last closing.

- Kingnet Network (002517 CH) saw 1 block trades worth 134.86mn at 12.50yuan per share, flat from last closing.

- Topsec Tech (002212 CH) saw 1 block trades worth 198.91mn at 9.75yuan per share, flat from last closing.

 

*Margin Trade

Total Margin Balance

1.5693 trillion

Total Short Selling Balance

81.3 billion

SH Margin Balance

0.8246 trillion

SH Short Selling Balance

51.7 billion

Top Five Margin Trade Net Bought (in CNY)

Top Five Short Selling Net Sold (in shares)

601127

292mio

601901

38.3mio

600309

260mio

601988

2.6mio

601318

141mio

601916

2.4mio

600418

130mio

600010

2.3mio

601901

118mio

600839

1.8mio

SZ Margin Balance

0.7443 trillion

SZ Short Selling Balance

29.6 billion

Top Five Margin Trade Net Bought (in CNY)

Top Five Short Selling Net Sold (in shares)

000063

86.4mio

002505

8.6mio

000025

2.7mio

300315

5.8mio

000065

2.4mio

002429

1.2mio

000090

2.1mio

300418

1.2mio

000029

1.8mio

300459

1.1mio

 

*Connection Trade

SH-HK Connection (bn cny)

SZ-HK Connection (bn cny)

Northbound Net Cash Flow

-1.739

Northbound Net Cash Flow

-1.971

Southbound Net Cash Flow

-0.359

Southbound Net Cash Flow

-0.999

Top 5 Northbound Inflow

Top 5 Northbound Outflow

Name

Market Value (mio cny)

‰ out of ttl share outstanding

Name

Market Value (mio cny)

‰ out of ttl share outstanding

000568

282

0.87

601901

237

3.03

600519

263

0.12

300502

233

8.29

300059

231

0.93

002456

225

5.93

601888

174

0.88

601398

177

0.11

300750

169

0.20

300418

177

4.24

 

*Index Futures

Position of Top 20 members (Unit lots)

CSI 300 Index Futures

Trading Volume

Change*

Long OI

Change*

Short OI

Change*

IF2311

76,685

11,613

56,145

-1,637

65,214

-2,287

IF2312

44,178

10,181

99,464

3,438

137,564

3,238

IF2403

10,236

2,126

20,066

481

27,128

808

IF2406

5,001

1,124

7,424

872

10,502

1,134

SSE 50 Index Futures

Trading Volume

Change*

Long OI

Change*

Short OI

Change*

IH2311

43,770

9,362

30,741

41

37,685

-459

IH2312

21,745

3,040

42,651

1,045

63,781

1,298

IH2403

5,302

941

8,533

392

12,783

477

CSI 500 Index Futures

Trading Volume

Change*

Long OI

Change*

Short OI

Change*

IC2311

52,067

7,120

53,787

-1,360

56,824

-715

IC2312

25,843

3,207

106,071

1,178

115,023

922

IC2403

12,639

3,873

56,560

1,561

65,325

1,198

IC2406

8,898

2,864

22,469

1,483

24,491

1,591

CSI 1000 Index Futures

Trading Volume

Change*

Long OI

Change*

Short OI

Change*

IM2311

57,651

10,439

40,877

-174

45,450

318

IM2312

32,535

5,597

76,458

957

82,782

1,216

IM2403

13,769

1,719

41,880

467

44,705

442

IM2406

6,607

835

21,568

447

24,534

561

 

*Index Options

Position of Top 20 members (Unit lots)

CSI 300 Index Options

Trading Volume

Change*

Long OI

Change*

Short OI

Change*

IO2311

118289

21012

53672

-33

60048

750

IO2312

20927

-1962

51611

1590

58848

1729

CSI 1000 Index Options

Trading Volume

Change*

Long OI

Change*

Short OI

Change*

MO2311

128111

27982

32354

-111

38236

-151

MO2312

31769

7881

34051

574

38493

1083

SSE50 Index Options

Trading Volume

Change*

Long OI

Change*

Short OI

Change*

HO2311

57593

15393

31952

261

34255

-188

HO2312

7856

2103

25495

526

28275

243

 

*Treasury Futures

Position of Top 20 members (Unit lots)

2-Year Treasury Bond Futures

Trading Volume

Change*

Long OI

Change*

Short OI

Change*

TS2312

107,803

23,463

52,694

-460

56,914

861

TS2403

15,056

3,572

13,730

2,101

15,002

2,386

5-Year Treasury Bond Futures

Trading Volume

Change*

Long OI

Change*

Short OI

Change*

TF2312

101,995

33,382

88,375

-1,130

92,263

-432

TF2403

16,565

9,300

18,086

2,418

18,140

2,752

10-Year Treasury Bond Futures

Trading Volume

Change*

Long OI

Change*

Short OI

Change*

T2312

138,842

35,020

141,382

-1,872

136,956

-525

T2403

33,685

18,364

28,549

4,121

26,732

3,502

30-Year Treasury Bond Futures

Trading Volume

Change*

Long OI

Change*

Short OI

Change*

TL2312

49,891

16,126

26,276

433

28,262

538

 

*Night Session Commodities Market (As of 02:30 am)

Top 3 Gainers (Dominant Contract)

Product

Contract

Price

Change %

Trading Volume

Open Interests

Coking Coal

JM2401

1,965.5

+2.64%

59,454

174,206

Nickel

NI2312

142,170.0

+2.15%

109,424

86,168

Iron Ore

I2401

939.0

+1.79%

186,260

931,674

Top 3 Loser (Dominant Contract)

Product

Contract

Price

Change %

Trading Volume

Open Interests

Crude Oil

SC2312

591.7

-3.36%

191,195

32,379

Bitumen

BU2401

3,575.0

-1.68%

93,248

256,040

Glass

FG401

1,673.0

-1.06%

251,785

913,690

 

* Commodities (night session):

* Global crude oil price closed down collectively. December NYMEX crude oil contract down 2.3% to closed at $75.59/b, January Brent contract down 2.27% to closed at $79.76/b. INE crude oil active contract down 3.36% to 591.7 yuan/b.

* Precious metals closed down collectively, COMEX gold active contract down 0.88% and closed at $1956.2/oz. SHFE gold active contract down 0.43% and closed at 469.90 yuan/gram.

* Metals closed up mostly, LME zinc up 1.52%, LME tin up 1.45%, LME copper down 0.98%. SHFE nickel up 2.15%, SHFE tin up 0.51%. Bonded copper down 0.50%.

* Commodity futures closed up mostly. Chemistry and energy products closed up collectively, PTA up 1.73%, polyester fiber up 1.47%, methanol up 1.37%. Black series closed up collectively, coking coal up 2.64%, iron ore up 1.79%, steel rebar up 1.39%. Agricultural products closed mixed.

 

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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.