Financial attention
Macroeconomics
1. Financial Secretary of Hong Kong, Chan Mo po: On May 12th, after more than a year of progress, as of the end of April, various talent programs received about 290000 applications, of which about 180000 had been approved and about 120000 people had arrived in Hong Kong. According to a survey conducted at the end of last year, the average median age of individuals approved under the "Gaocai Tong" plan was 35 years old, with six becoming married and generally bringing their families to Hong Kong.
2. Brokerage China: The maximum total amount of the two treasury bond issued by the Ministry of Finance this time is 30 billion yuan. The term is divided into three years and five years, and the annual coupon rate is 2.38% and 2.5% respectively. Although the issuance announcement shows that the issuance period is from May 10th to May 19th, most of the sales quotas of the branches are sold out on the same day, and some are even sold out within an hour.
3. CCTV News: The 27 EU countries have reached a consensus on a draft security commitment to Ukraine, aiming to provide long-term military and financial support to Kiev. There are confidential documents stating that the draft has been recognized by representatives of EU countries, and specific details are currently being discussed between the EU and Ukraine.
Stock market inventory
1. Last Friday, the Shanghai Composite Index rose 0.01% to 3154.55 points, up 1.60% for the week; The Shenzhen Component Index closed down 0.58% at 9731.24 points, up 1.50% for the week; The ChiNext Index closed down 1.15% at 1878.17 points, up 1.06% for the week.
2. Last Friday, the Hang Seng Index rose 2.30% to 18963.68 points, up 2.64% for the week; The Hang Seng Technology Index rose 0.38% to 3962.32 points, down 0.23% for the week; The state-owned enterprise index closed up 2.41% at 6718.86 points, up 2.62% for the week.
3. Economic Daily: Since the beginning of this year, regulatory authorities have repeatedly issued fines to crack down on illegal stock trading behavior, which is a warning to the industry. Securities practitioners should enhance their sense of self-discipline, be respectful, cautious, and keep the bottom line. Otherwise, once the legal "red line" is crossed, the cost paid will be much higher than the illegal gains obtained. "Strict" is the top priority, making practitioners "dare not, cannot, and do not want" to illegally buy and sell stocks.
4. China News Agency: Recently, securities firms have been frequently subject to administrative regulatory measures or penalties by regulatory authorities. On May 10th, five more securities firms were named. Upon investigation, it was found that the matter involved five securities firms, namely Guoxin Securities, CICC, Shenwan Hongyuan, CITIC Securities, and Dongguan Securities. Not only were there multiple top securities firms involved, but also in terms of content, it involved multiple business areas such as investment banking, brokerage, and asset management.
5. Securities firm China: On May 11th, the website of the Fund Industry Association recently announced that 96 private fund managers have been deregistered. The types of deregistration are all "12 months of no management deregistration", which is the first time that the association has cancelled private equity based on this reason. The association's website has also been updated accordingly.
6. Jicheng Electronics (2 consecutive boards): The company has not found any recent public media reports that may or have had a significant impact on the company's stock trading prices that have not been publicly disclosed; Recently, the company's business situation has been normal, and there have been no significant changes in the internal and external business environment.
7. Zhongman Petroleum: The company participated in the fifth and sixth rounds of oil and gas block bidding by the Iraqi Ministry of Petroleum and successfully won the bid to obtain the development rights for the EBN and MF blocks in Iraq.
8. New stock subscription: This week, there were no new stock subscriptions.
9. Restricted shares lifted: A total of 78 restricted shares were lifted, with a total of 3.111 billion shares lifted and a market value of 40.794 billion yuan lifted. Among them, Yahuilong ranked first on the lifting ban list with 7.613 billion yuan, while Bozhong Precision and Maixinlin ranked second and third with 7.015 billion yuan and 2.276 billion yuan respectively.
Industry observation
1. CCTV News: The first cylindrical "offshore oil and gas processing plant" in Asia, designed and built by China itself, "Haikui No. 1", left the port in Qingdao, Shandong Province on May 12. It will be transported to Liuhua Oilfield in the Pearl River Mouth Basin by means of "big boat with small boat", laying the foundation for the production of China's first deepwater oilfield secondary development project within the year.
2. Xinhua News Agency: The direct passenger route from Shenzhen to Mexico City officially opened on May 11th, with a total length of over 14000 kilometers. This route sets a new record for the longest direct international passenger flight in China's civil aviation industry.
3. CCTV: Recently, imitating fireflies to transmit information through luminescence, the research team led by Li Xuelong from Northwestern Polytechnical University has solved the problem of drones being susceptible to electromagnetic interference using technologies such as optical communication and intelligent information processing. This has enabled drone swarms to break through more stringent conditions and achieve efficient collaborative work.
4. CCTV Finance: After the beginning of summer, temperatures in many parts of the country have risen rapidly, and there is also a strong demand for household air conditioning cleaning. Data shows that for many urban households, air conditioning is generally cleaned once a year. Since April, orders for household services such as sterilization, cleaning, and cleaning have increased by 350% month on month.
5. Caixin News Agency: Last week, the building materials market surged and fell, with the national average price of rebar falling by 24 yuan/ton on a weekly basis. The decrease in inventory of steel mills has expanded, and the decrease in social inventory has narrowed. Although the sustainability of downstream demand release is not satisfactory, the pace of steel mills resuming production has also slowed down in the situation where raw materials occupy the profits of finished products. Therefore, the contradiction between supply and demand in the market is not significant. Although the spot market has lowered prices to ship, the confidence of merchants still exists.
6. Xinhua News Agency: The influence of Chinese electric vehicles in the Latin American market is constantly expanding. In the first four months, the sales of new cars in the Brazilian market reached 8 times that of the same period last year. Electric vehicles and plug-in hybrid vehicles from Chinese car manufacturers are becoming increasingly popular in Brazil, with sales growing rapidly this year, reaching 48000 units from January to April, eight times higher than the same period last year.
7. CCTV News: At 7:43 am on May 12th, China successfully launched the Test 23 satellite using the Long March 4C carrier rocket at the Jiuquan Satellite Launch Center, and the satellite entered its designated orbit. The launch mission was a complete success. The Experiment 23 satellite is mainly used for space environment detection. This mission is the 522nd flight of the Long March series of carrier rockets.
Financial data
domestic
1. RMB: Last Friday, the onshore RMB closed at 16:30 against the US dollar at 7.2246, up 0.0166% and down 0.23% for the week; The median price of the Chinese yuan was 7.1011, up 0.0239%, and down 0.07% for the week.
2. New Third Board: Last week, four new listed companies were added with a transaction amount of 1.342 billion yuan, an increase of 199.95% compared to the previous week. As of now, the total number of companies listed on the New Third Board has reached 6140.
3. Shanghai Environmental Exchange: Last week, the trading volume of carbon emission quota listing agreements in the national carbon market was 134300 tons, with a total transaction amount of 13.2231 million yuan and a closing price of 99 yuan/ton, a weekly decrease of 3.88%.
4. US stocks: Last Friday, the Dow Jones Industrial Average rose 0.32% to 39512.84 points, up 2.16% for the week; The S&P 500 index rose 0.16% to close at 5222.68 points, up 1.85% for the week; The Nasdaq fell 0.03% to 16340.87 points, with a weekly increase of 1.14%.
5. Europe: Last Friday, the German DAX30 index rose 0.46% to 18772.85 points, up 4.28% for the week; The French CAC40 index rose 0.38% to 8219.14 points, up 3.29% for the week; The FTSE 100 index in the UK rose 0.63% to 8433.76 points, up 2.68% for the week.
6. Gold: Last Friday, COMEX gold futures rose 1.14% to $2366.9 per ounce, up 2.53% for the week.
7. Crude oil: Last Friday, WTI crude oil futures fell 1.26% in June to $78.26 per barrel, up 0.19% for the week. Brent crude oil futures fell 1.3% in July to $82.79 per barrel, a weekly decrease of 0.2%.
Dongwu Securities: The financial data released on Saturday was unexpected in both quantity and timing. The unexpected change in quantity is that there were many negative values in the financial data in April, among which it is particularly noteworthy that the new social financing and M1's year-on-year "double negative". The unexpected timing lies in the rare occurrence of social financing data being released after the cargo policy report, and the unusual wording in the report may also be closely related to today's data. We believe that unexpected data will have a greater or lesser impact on the market, coinciding with the Politburo meeting to "raise" monetary policy. The central bank may quickly loosen and reduce "negative" monetary policy, and monetary policy led by reserve requirement and interest rate cuts is expected to accelerate.
Everbright Securities: The weakening of credit cyclicality driven by real estate and infrastructure investment, as well as policy guidance for banks to reduce their demand for "impulse" at certain time points, means that with the convergence of credit volatility in the future, the central center of credit growth may also be lowered, and the market needs to adapt to new credit allocation models. But in the short term, there is no need to be pessimistic. The issuance of government bonds can form a fiscal multiplier and leverage a certain proportion of credit. Positive signals from policy optimization and adjustment in various aspects such as real estate are constantly being released, and the growth rate of social financing is expected to bottom out and rebound in the future.
CITIC Securities: The significant decline in the growth rate of money supply is mainly due to the fact that since April, many deposit funds have been transferred to bank wealth management products and other asset management products due to seasonal factors and strict supervision of manual interest compensation. The decrease in deposits of residents and enterprises confirms the phenomenon of "deposit relocation", while the year-on-year decrease in fiscal deposits is mainly due to the slow process of government bond issuance, which indirectly reflects that the current pace of fiscal expenditure may be marginally slowing down. It should be noted that the decline in the money supply this time is mainly due to the regulatory squeeze on some non compliant deposit products, and is also related to the more diversified wealth management methods currently available. It cannot be interpreted as a one-sided decline in the ability of financial support for the real economy; On the contrary, we believe that regulating deposits can actually help activate funds and help finance better support the recovery and development of the real economy.
Huachuang Securities: It is expected that the growth rate of money supply will stabilize in the coming months. Firstly, the financing demand for the real economy is gradually improving, and financing needs in areas such as technological innovation, green development, and inclusive small and micro enterprises will also be more apparent. The second is that government financing is expected to accelerate. The early issuance and good use of ultra long term treasury bond and the acceleration of the issuance and use of special bonds will also support the growth of the total amount of money. Thirdly, the bond market is gradually returning to fundamental logic. Since April, the central bank has repeatedly warned about the risk of the bond market. Since late April, the yield of 10-year treasury bond bonds has risen, which has led to fluctuations in the yield of wealth management and a decline in its attractiveness. Recently, there have been some signs of return of wealth management deposits.