DZ20240719

Financial

*The third plenary session of the 20th Central Committee of the CPC was held in Beijing from July 15th to 18th, which approved the “Central Committee of the CPC decision to further comprehensively deepen reforms and promote Chinese-style modernization”. Chairman Xi Jinping emphasized to improve the system and mechanism for developing new productivity forces in accordance with local conditions and the system for promoting the deep integration of the real economy and the digital economy, improve the supply mechanism of cultural services and products and build a more effective international communication system.

*Shanghai SASAC held a symposium on market value management, with two leading securities firm in Shanghai GTJA and HAITONG SECURITIES shared the service plan to assist in market value management.

Industrial Economy

*The National Medical Security Standardization Working Group was established in Beijing today, which will accelerate the standardization of medical security, coordinate the formulation of various medical security standards, promote the implementation of various standards, and provide strong support for high-quality development of medical insurance.

*Chongqing City issued the “Industrial Software High-Quality Development Action Plan (2024-2027)”, which proposes to build a national influential industrial software R&D and application highland by 2027.

July 18 Block Trade Info

*Discount

- DONGRUI (001201 CH) saw 1 block trades worth 2.89mn at 18.20yuan per share, 8.01pct discount from last closing.

- LENS (300433 CH) saw 1 block trades worth 3.7mn at 20.45yuan per share, 4.93pct discount from last closing.

*Flat

- XINAO TEXTILE (603889 CH) saw 1 block trades worth 5.94mn at 6.60yuan per share, flat from last closing.

*Margin Trade

*Total Margin Balance*	1.4163 trillion	*Total Short Selling Balance*	29.5 billion
*SH Margin Balance*	0.7441 trillion	*SH Short Selling Balance*	19.3 billion
*Top Five Margin Trade Net Bought (in CNY)*		*Top Five Short Selling Net Sold (in shares)*
688256	134mio	601777	1.2mio
688037	69.9mio	601933	1.2mio
600611	50.1mio	600901	0.9mio
601028	38.7mio	601669	0.9mio
601816	36.9mio	600166	0.7mio
*SZ Margin Balance*	0.6712 trillion	*SZ Short Selling Balance*	10.2 billion
*Top Five Margin Trade Net Bought (in CNY)*		*Top Five Short Selling Net Sold (in shares)*
000625	157mio	000898	1.3mio
300308	81.5mio	002607	0.7mio
002475	60.9mio	000100	0.6mio
002428	40.1mio	300418	0.5mio
300014	40.1mio	000709	0.4mio

*Connection Trade

SH-HK Connection (bn cny/hkd)			SZ-HK Connection (bn cny/hkd)
Northbound Net Cash Flow		+1.714	Northbound Net Cash Flow		-0.362
Southbound Net Cash Flow		+1.674	Southbound Net Cash Flow		+0.722
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
002241	276	3.50	300308	516	3.25
300433	245	2.52	002475	305	1.01
300502	227	2.90	601020	205	20.25
601899	182	0.37	603993	171	0.92
603501	169	1.27	000858	144	0.28

*Index Futures

Position of Top 20 members (Unit lots)
CSI 300 Index Futures	Trading Volume	Change*	Long OI	Change*	Short OI	Change*
IF2407	67,177	-5,350	20,762	-14,232	22,873	-16,560
IF2408	56,323	28,391	35,921	14,954	41,767	15,969
IF2409	42,174	8,332	74,589	2,623	99,768	2,890
IF2412	17,496	5,357	34,769	1,525	43,283	2,265
SSE 50 Index Futures	Trading Volume	Change*	Long OI	Change*	Short OI	Change*
IH2407	36,651	1,311	13,517	-6,507	14,500	-7,041
IH2408	31,612	14,792	18,033	7,490	21,363	8,876
IH2409	26,038	5,968	33,065	174	45,721	-305
IH2412	7,403	1,898	10,171	62	13,632	179
CSI 500 Index Futures	Trading Volume	Change*	Long OI	Change*	Short OI	Change*
IC2407	62,327	-493	20,142	-12,243	20,907	-12,511
IC2408	65,507	32,556	47,780	17,813	47,597	18,478
IC2409	34,967	7,956	80,632	3,862	83,628	3,347
IC2412	14,960	3,302	63,573	1,851	61,330	1,714
CSI 1000 Index Futures	Trading Volume	Change*	Long OI	Change*	Short OI	Change*
IM2407	86,685	-4,325	23,776	-11,147	23,864	-13,272
IM2408	87,485	45,370	51,673	20,869	57,543	21,815
IM2409	82,577	23,815	80,623	6,908	89,122	6,150
IM2412	30,623	6,607	59,271	1,558	60,985	1,627

*Index Options

Position of Top 20 members (Unit lots)
CSI 300 Index Options	Trading Volume	Change*	Long OI	Change*	Short OI	Change*
IO2407	109896	8683	40052	-3962	45628	-3746
IO2408	47418	17261	34144	2627	34417	3372
IO2409	8713	2675	36672	233	42359	-153
CSI 1000 Index Options	Trading Volume	Change*	Long OI	Change*	Short OI	Change*
MO2407	307263	110686	59710	-7609	64201	-8045
MO2408	96906	50215	32661	5304	33945	5514
MO2409	10165	4098	33676	424	41367	586
MO2412	4398	2056	21396	302	22876	323
SSE50 Index Options	Trading Volume	Change*	Long OI	Change*	Short OI	Change*
HO2407	41588	5632	16637	-1671	18831	-3117

*Treasury Futures

Position of Top 20 members (Unit lots)
2-Year Treasury Bond Futures	Trading Volume	Change*	Long OI	Change*	Short OI	Change*
TS2409	44,304	12,354	49,547	502	50,301	329
5-Year Treasury Bond Futures	Trading Volume	Change*	Long OI	Change*	Short OI	Change*
TF2409	53,744	-1,308	105,189	179	109,571	374
TF2412	1,734	491	10,134	114	10,619	77
10-Year Treasury Bond Futures	Trading Volume	Change*	Long OI	Change*	Short OI	Change*
T2409	63,825	9,242	169,876	2,666	169,331	2,045
T2412	3,821	-335	16,130	566	16,478	571
30-Year Treasury Bond Futures	Trading Volume	Change*	Long OI	Change*	Short OI	Change*
TL2409	43,513	-2,609	69,523	456	65,052	814
TL2412	7,980	434	17,969	1,210	19,669	1,301

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

Top 3 Gainers (Dominant Contract)
Product	Contract	Price	Change %	Trading Volume	Open Interests
Coking Coal	JM2409	1,564.5	+1.66%	38,517	140,963
Bleached Softwood Kraft Pulp	SP2409	5,760.0	+1.52%	137,938	224,903
Rapeseed Oil	OI409	8,565.0	+1.41%	342,604	271,853
Top 3 Loser (Dominant Contract)
Product	Contract	Price	Change %	Trading Volume	Open Interests
Tin	SN2408	261,860.0	-2.65%	52,365	33,075
Bonded Copper	BC2408	67,850.0	-2.36%	4,616	5,130
Copper	CU2408	76,480.0	-2.17%	68,930	166,393

* Commodities (night session):

* Global crude oil price closed down collectively. September NYMEX crude oil contract down 0.75% to closed at $80.83/b, September Brent contract down 0.31% to closed at $84.82/b. INE crude oil active contract down 0.02% to 614 yuan/b.

* Precious metals closed down collectively, COMEX gold active contract down 0.49% and closed at $2447.9/oz. SHFE gold active contract down 0.41% to closed at 577.70 yuan/gram.

* Metals closed down collectively, LME tin down 4.17%, LME copper down 2.74%, LME lead down 1.62%, LME zinc down 1.35%. SHFE tin down 2.65%, bonded copper down 2.36%, SHFE copper down 2.17%.

* Commodity futures closed mixed, chemistry and energy products closed up mostly, wood pulp up 1.52%. Black series closed mixed, coking coal up 1.66%. Agricultural products closed up collectively, rapeseed oil up 1.41%.

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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.

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Morning Brief 2024-07-19