*Key points

Macro

*President Xi Jinping sent a congratulatory letter to the 2021 World Internet Conference Wuzhen Summit that China highly value technology innovation and to enhance communication with other countries in an open manner.

Financials

*CSRC said to optimize green stock index system with criminal activities like market manipulation under name of market value management to be against and related financial products to be developed.

*The Central Bank says all cryptocurrency-related transactions are illegal. According to a statement on PBoC website, it will further prevent speculation of virtual currency trading with related business to be strictly prohibited.

Industrial Economy

*CPCA: retail sales of automobile during the 3rd week in Sept reached 43k by daily, down 14% y/y while up 15% vs Aug. The accumulated sales during the first 3 weeks of Sept down 13% y/y and up 8% m/m.

*Wang Bin, deputy director of the department of consumer promotion of the MoC suggested automobiles, home appliances, furniture and catering were the top pillars of the consumer market, accounting for about a quarter of the total.

-Transformation of automobiles from purchase management to use management will be accelerated, the campaign to bring NEV to the countryside to be carried out and to promote new car consumption. -Recycling system for used household appliances to speed up and trade-in is encouraged.

-As analyzed that consumption will continue to recover steadily in Oct and throughout the 4Q. The total retail sales is expected to reach cny 44 tn for the full year, up 12.5% y/y and 8% vs 2019.

*Power shortage remains after northeast cities been rationed on electricity consumption, Department of Energy in Guangdong jointly issued proposal on energy saving and electricity use in order.

Co Focus

*SASAC issued a notice on Sept 25th for the set-up of China Electric Equipment Group which to include relevant enterprises owned by State Grid and China Western Power Group, as a another move of strategic reorganization of state-owned enterprises.

*Meng Wanzhou, CFO of Huawei returned back to China on Sept 25th after over 1000-day detention.

*Evergrande NEV scraps its plan to issue new shares on SSE STAR board.

*Block Trade Info

*Discount

- China Tourism Group Duty Free (601888,CH) saw 1 block trade worth 2.04 mn at 215.00 yuan per share, 12.96 discount from last closing.

- Haitian Flavoring (603288,CH) saw 7 block trade worth 85.32 mn at 90.06 yuan per share, 9.71 discount from last closing.

- CanSino (688185,CH) saw 2 block trade worth 117.64 mn at 303.00 yuan per share, 8.87 discount from last closing.

- WillSemiconductor (603501,CH) saw 4 block trade worth 432.83 mn at 220.06 yuan per share, 8.23 discount from last closing.

- Oriental Yuhong (002271,CH) saw 1 block trade worth 22.68 mn at 39.79 yuan per share, 1.51 discount from last closing.

- Yuntianhua Chemical (600096,CH) saw 3 block trade worth 141.35 mn at 28.27 yuan per share, 1.29 discount from last closing.

*Flat

- SF Holding (002352,CH) saw 1 block trade worth 13.99 mn at 67.96 yuan per share, flat from last closing.

- 37 Interactive Entertainment (002555,CH) saw 1 block trade worth 15.84 mn at 22.96 yuan per share, flat from last closing.

*Premium

- Sanan Optoelectronics (600703,CH) saw 3 block trade 21.30 mn at 32.65 yuan per share, 0.12 premium from last closing.

- Bank of Jiangsu (600919,CH) saw 1 block trade worth 272.52 mn at 5.69 yuan per share, 1.25 premium from last closing.

*Margin Trade

Total Margin Balance

1.7320trillion

Total Short Selling Balance

163.3billion

SH Margin Balance

0.9213trillion

SH Short Selling Balance

102.7billion

Top Five Margin Trade Net Bought (in CNY)

Top Five Short Selling Net Sold (in shares)

600170

232mio

512100

20.8mio

601318

230mio

600795

18.4mio

600021

182mio

601108

7.0mio

600352

168mio

600909

6.3mio

600585

132mio

512000

5.7mio

SZ Margin Balance

0.8107trillion

SZ Short Selling Balance

60.6billion

Top Five Margin Trade Net Bought (in CNY)

Top Five Short Selling Net Sold (in shares)

301071

242mio

000725

21.5mio

000591

235mio

000783

10.2mio

002230

196mio

002500

7.7mio

000831

143mio

002042

3.4mio

000768

137mio

002926

3.3mio

*Connection Trade

SH-HK Connection (bn cny)

SZ-HK Connection (bn cny)

Northbound Net Cash Flow

0.96

Northbound Net Cash Flow

1.77

Southbound Net Cash Flow

0.38

Southbound Net Cash Flow

4.72

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

000858

1424

1.89

601318

1128

1.28

600519

922

0.45

300760

576

1.29

600900

513

1.06

600111

541

2.92

002202

509

6.99

000001

511

1.49

300124

455

2.66

600036

496

0.40

*Index Futures

Position of Top 20 members (Unit lots)

CSI 300 Index Futures

Trading Volume

Change*

Long OI

Change*

Short OI

Change*

IF2110

106,216

13,774

59,890

930

64,292

1,951

IF2112

24,625

2,452

54,015

1,120

66,672

299

IF2203

5,500

912

21,928

248

22,212

-40

SSE 50 Index Futures

Trading Volume

Change*

Long OI

Change*

Short OI

Change*

IH2110

68,983

6,751

37,518

-799

39,632

-467

IH2112

20,002

2,494

26,137

-422

33,846

-747

IH2203

4,385

171

7,082

-25

9,605

62

CSI 500 Index Futures

Trading Volume

Change*

Long OI

Change*

Short OI

Change*

IC2110

96,130

11,350

70,053

2,339

73,192

2,221

IC2112

29,777

-441

74,181

-568

92,030

-409

IC2203

14,539

1,572

45,809

577

57,629

599

*Index Options

Position of Top 20 members (Unit lots)

CSI 300 Index Options

Trading Volume

Change*

Long OI

Change*

Short OI

Change*

IO2110

143625

24714

67878

-2187

68510

-2275

*Treasury Futures

Position of Top 20 members (Unit lots)

2-Year Treasury Bond Futures

Trading Volume

Change*

Long OI

Change*

Short OI

Change*

TS2112

15,099

567

22,206

446

25,818

532

5-Year Treasury Bond Futures

Trading Volume

Change*

Long OI

Change*

Short OI

Change*

TF2112

37,032

-2,188

57,170

1,745

59,125

2,323

10-Year Treasury Bond Futures

Trading Volume

Change*

Long OI

Change*

Short OI

Change*

T2112

91,310

-7,263

119,881

1,460

125,388

167

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

Top 3 Gainers (Dominant Contract)

Product

Contract

Price

Change %

Trading Volume

Open Interests

Soda Ash

SA201

3,255.0

+3.89%

516,190

384,857

Iron Ore

I2201

702.0

+3.39%

333,649

526,619

Cotton

CF201

17,900.0

+3.26%

222,743

372,703

Top 3 Loser (Dominant Contract)

Product

Contract

Price

Change %

Trading Volume

Open Interests

Stainless Steel

SS2110

20,920.0

-1.95%

62,457

31,663

Glass

FG201

2,242.0

-1.88%

239,898

290,001

Rapeseed Meal

RM201

2,847.0

-1.49%

360,469

407,334

* Oil price mostly went up in the global market, the November contract of WTI rose 0.89% to $73.95/barrel, the December contract of Brent rose 0.94% to $77.18/barrel. Over the past week, The crude oil prices have been rising for 5 weeks, given the inventories in the US and other countries kept falling during the global energy crisis, while the demand is increasing; Also, the high price of natural gas forced investors to consider oil and boosted prices, which further tightened the market before winter this year.

* Commodities market mostly closed up after the night session of Sept 24. The chemical and energy sector rose strongly, soda ash kept the upward trend and increased 3.89%. For black series, iron ore went up by 3.39%, thermal coal and coking coal both rose over 2%.

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