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Broadcast | Tian Dong
Market overview
On Friday, the three major U.S. stock indexes hit a new one-month high, the NASDAQ and S&P rose more than 8% and 6% respectively throughout the week, both of which hit the largest weekly gains in 16 months, and the Dow reversed five weeks of continuous declines; the energy sector fell alone throughout the week, tesla's sector rose more than 9%; Chinese stocks rose sharply, Pinduoduo rose more than 8%, leading nasdaq 100, up more than 60% on the fourth day, and China-listED ETF KWEB rose nearly 30% in a week, the largest increase in history. The pan-European stock index erased losses since the Ukraine crisis, rising more than 5 percent in the week to its biggest gain in 16 months. The 3-year and 5-year Treasury yield curves inverted for the first time in two years; 10-year and 2-year Treasury yields rose more than 15 and nearly 20 basis points a week, respectively. The dollar index came out of a one-week low and remained down all week, with the ruble rising more than 8 percent for the week and still falling 25 percent in four weeks. Crude oil hit a new weekly high and still fell more than 4% for the whole week; European natural gas fell more than 20% in the whole week, falling sharply for two consecutive weeks. Shanghai nickel fell again in the night session; Lun nickel fell for three consecutive days, fell nearly 20% for three days, and Lun Copper made a new two-week high. Gold posted its biggest weekly decline in nearly four months, with palladium falling more than 10% a week.
News
Russia and Ukraine began a new round of talks on Monday; the Ukrainian president extended the wartime situation in Ukraine for another 30 days, saying he was ready to talk with Putin but would not accept compromises such as the independence of the two regions.
France freezes 22 billion euros in assets of the Russian central bank; Biden will attend the NATO summit and finalize new measures against the Russian-Ukrainian conflict, or further restrict Russian energy imports.
Iran intends to increase crude oil and condensate production and exports; Japan calls on the UAE to increase production.
Xinhua News Agency: The first video call between China and the US dollar released three key messages: the rising demand for dialogue and communication between the US side and the Chinese side; the management of differences is still the key to China-US relations; China has been doing its best for peace; last week's financial commission meeting directly confronted market concerns, sent clear signals, did a good job of expectation management, and introduced pragmatic measures to boost market confidence.
National Health commission: many provinces are facing the severe situation of the epidemic in the same period and in many places, the prevention and control situation is grim and complex; 29 vaccines have entered clinical trials in the mainland, accounting for 19% of the world, and some Ofi Kerong vaccines have completed preclinical research; Shenzhen has basically achieved dynamic clearance of social surfaces and restored the order of social production and life in an orderly manner on Monday; the third phase of the Hong Kong "Vaccine Pass" was implemented one month earlier to the end of May; and Shanghai Disneyland was temporarily closed on Monday.
The Ministry of Agriculture and Rural Affairs: do a solid job in ensuring the stable production and supply of agricultural products; the National Development and Reform Commission: further do a good job in the production of important agricultural products such as grain and soybeans, and make every effort to stabilize the sown area and output of grain.
Financial Secretary of Hong Kong: There is no systemic risk in Hong Kong stocks, and the ratio of total short positions to total market value is still 1.3%.
China Securities News: Many banks have increased the scale of housing mortgage loans, with the fastest half-day approval and one-week lending.
Following the fine of 11.32 million yuan by Zhongde Securities, Ping An Securities will be suspended for three months due to the LeTV case.
100 billion real estate Sunshine City announced that 5 billion yuan of domestic debt default, updated the redemption plan said to complete the full payment as soon as possible.
China's first metro Beidou positioning system, which will be built in Beijing, will provide positioning, navigation and timing services, and is expected to be completed within this year.
The market closes
U.S. stocks: The Dow rose 0.8%, the S&P 500 rose 1.17%, the Nasdaq rose 2.05%, and the cumulative increase was 5.49%, 6.16% and 8.18% respectively throughout the week.
European stocks: The European STOXX 600 index closed up 0.91%, up 5.43% throughout the week. Germany's DAX 30 closed up 0.17%, France's CAC 40 closed up 0.12%, and the UK FTSE 100 closed up 0.26%, up 5.76%, 6.75% and 3.48% respectively throughout the week.
A shares: The Shanghai index closed at 3251.07 points, up 1.12%, with a turnover of 428.4 billion yuan. The Shenzhen Component Index closed at 12328.65 points, up 0.31%, with a turnover of 562.1 billion yuan. The ChiNext index closed at 2713.79 points, up 0.11%, with a turnover of 235.7 billion yuan.
Gold: COMEX April gold futures closed down 0.7 percent at $1,929.30 an ounce, down 2.8 percent for the week.
Crude Oil: WTI April crude futures closed up $1.72, or 1.67 percent, at $104.70 a barrel, down 4.23 percent for the week. Brent May crude futures closed up $1.29, or 1.21 percent, at $107.93 a barrel, down 4.20 percent for the week.
ETFs: S&P 500 SPY closed up 1.1%, NASDAQ 100 QQQ closed up 2.05%, gold GLD closed down 0.88%, gold mine GDX closed down 1.27%, Silver SLV closed down 1.33%, US crude oil fund USO closed up 1.3%, and China Technology ETF-Guggenheim CQQQ closed up 4.48%.
Epidemic related
Since Monday, March 21, Shenzhen has restored the order of social production and life in an orderly manner
The Shenzhen Municipal Epidemic Prevention and Control Headquarters announced on Sunday that it has completed three rounds of nucleic acid testing for all employees throughout the city, basically achieving dynamic zero social clearance, and the city's epidemic prevention and control situation is still severe, but it is generally controllable.
More than 14,000 new cases were confirmed in Hong Kong on Sunday, and the third phase of the "Vaccine Pass" was implemented one month earlier to the end of May
According to Xinhua News Agency, the Center for Health Protection of the Department of Health of the Hong Kong SAR Government announced on Sunday on the 20th that as of 00:00 on the same day, there were 14,149 new confirmed cases of new coronary pneumonia in Hong Kong. According to the Hong Kong Hospital Authority, there have been 205 new deaths in the past 24 hours. According to CCTV, the Hong Kong SAR Government announced on the same day that it will adjust the requirements for the "Vaccine Pass": first, the implementation date of the third phase of the "Vaccine Pass" will be brought forward from June 30 to the end of May, when all the general people to whom the "Vaccine Pass" applies must have received the third dose of the vaccine (except for individual special groups); second, the grace period between the second and third doses of the vaccine under the "Vaccine Pass" requirement will be shortened; third, the vaccination requirements for the "Vaccine Pass" of people who have been diagnosed with new crown pneumonia (recovered) will be updated.
Hong Kong Food and Health Bureau: Give full play to the advantages of Chinese medicine in the prevention and treatment of the new crown epidemic
According to CCTV, the Secretary for Food and Health of the Hong Kong Special Administrative Region, Chan Siu-chiu, said on Sunday that in the fifth wave of the anti-epidemic war, Chinese medicine has been extensively and deeply involved in the whole process of prevention, treatment and rehabilitation of the epidemic in an all-round and full range, giving full play to the advantages and role of Chinese medicine. The HKSAR Government has set aside funds through the Chinese Medicine Development Fund to give priority to the examination and approval of projects related to epidemic prevention and control.
National Health Commission: Many provinces are facing a severe situation of epidemics in many places at the same time The situation of prevention and control is grim and complex
Mi Feng, spokesman for the National Health Commission, said on Saturday that in the past week, the new confirmed cases of new coronary pneumonia in the world have rebounded again, of which more than 40% are concentrated in countries and regions around the mainland, and the pressure on foreign defense imports continues to increase.
The latest development of the new crown vaccine is coming! Some of the Domestic Omiljung mutant vaccines have completed preclinical studies
Zheng Zhongwei, head of the vaccine research and development task force of the joint prevention and control mechanism of the State Council and director of the Science and Technology Development Center of the National Health Commission, said on Saturday that at present, 29 vaccines have entered clinical trials in the mainland, accounting for 19% of the world; the mainland has achieved full coverage of clinical trials of 5 technical routes for the new crown virus vaccine, and positive progress has been made in the research and development of monovalent and multivalent vaccines for the Ami kerong variant strain.
Sun Chunlan: Time is not yet necessary to pay close attention to all aspects of prevention and control, and quickly and effectively control the momentum of the spread of the epidemic
Sun Chunlan, vice premier of the State Council, pointed out on Saturday that it is necessary to strengthen the import of foreign defense with the focus on prevention and control in port areas, and to improve the control and control of the epidemic areas, to fight as sharply as possible, to solve the problems of blockages such as insufficient testing capacity and insufficient isolation rooms, and to promote the collection of infected people and the isolation of close contacts, so as to completely block the community transmission of the epidemic.
Latest! Wu Fan's interpretation: Shanghai's epidemic prevention and control strategy has undergone major adjustments, and the "way of playing" has changed
Wu Fan, a member of the Shanghai Municipal Expert Group on the Prevention and Control of the New Crown Pneumonia Epidemic and vice dean of the School of Medicine of Fudan University, said that we should not be rigid in our understanding of "precise prevention and control". Today, Shanghai adjusts its prevention and control strategy and uses the practice of "reducing flow + nucleic acid screening" to cut and mesh screening, which is to take prevention and control measures in a realistic manner according to the characteristics of different epidemic situations, which is another form of scientific and accurate prevention and control.
Shanghai Disney Resort is temporarily closed on Monday
According to CCTV, in view of the current epidemic prevention and control situation, Shanghai Disney Resort (including Shanghai Disneyland, Disneytown and Wishing Star Park) will be temporarily closed on March 21. Shanghai Disney Resort will continue to pay attention to the progress of epidemic prevention and control and consult with relevant departments for guidance, and Shanghai Disney Resort will inform shanghai disney resorts in a timely manner once the resumption of operation time is clarified.
National Health Commission: Adhere to the general policy of "dynamic zero clearance" without wavering
The Health Commission said on Friday that it is necessary to quickly carry out emergency handling of the epidemic, build a solid line of defense against external imports, further improve the ability to prevent and control the epidemic and deal with the epidemic, and do a good job in vaccination.
Wu Zunyou, chief expert of epidemiology at the Chinese Center for Disease Control and Prevention: This round of the epidemic will be extinguished in 2-4 weeks
Wu Zunyou believes that the most important thing in (dynamic) zero clearance is timely detection, blocking, and timely treatment; the current epidemic situation is only temporary, and with the strengthening and intensification of prevention and control measures, the epidemic will soon be effectively controlled.
Highlights
Xinhua News Agency: The first video call between China and the US dollar released three key messages
According to the Xinhua news agency article, the three key messages released by the us dollar-headed video call on Friday were: the need for dialogue and communication between the UNITED States and China has risen; the key to managing differences between China and the United States is still the key to getting along; and China has been doing its best for peace. According to the People's Daily, Xi Jinping and US President Joe Biden stressed during a video call on Friday that the key between China and the United States is to control differences well, and the stable development of Sino-US relations is beneficial to both sides; Biden reiterated that the United States does not seek to fight a "new Cold War" with China; the two sides also exchanged views on the current situation in Ukraine, biden said that he was willing to communicate with China to prevent the escalation of the situation; according to CCTV news, Xi Jinping said that the Crisis in Ukraine is something we do not want to see, and state-to-state relations cannot go to the step of fighting each other. Conflict and confrontation are not in anyone's interest, and peace and security are the most cherished assets of the international community.
Xinhua News Agency: After the Financial Commission meeting, what policies are worth looking forward to?
Xinhua News Agency's financial article said that last Wednesday, the special meeting of the Financial Commission of the State Council directly faced market concerns, sent a clear signal, did a good job in expectation management, and introduced pragmatic measures to boost market confidence. The article concluded that the important information released by the meeting includes: "monetary policy should take the initiative to respond, new loans should maintain moderate growth", for real estate enterprises, put forward "timely research and put forward a strong and effective prevention and resolution of risk response plan", for Chinese stocks, the meeting showed the attitude of "the Chinese government continues to support all kinds of enterprises to list abroad", for the first time for the governance of the platform economy, "red light, green light should be set up", the implication is: the supervision of platform enterprises is not only standardized and not developed, Instead, it is developed in the standard, and the standard is for better development; for Hong Kong's financial stability, it is proposed that "the regulators of the mainland and Hong Kong should strengthen communication and cooperation"; for policies that may have a significant impact on the economic and financial sector in the future, it is proposed to "maintain the stability and consistency of policy expectations"; the meeting also proposed that "long-term institutional investors are welcome to increase their shareholding ratio".
Ministry of Agriculture and Rural Affairs: Do a good job in the current prevention and control of the new crown pneumonia epidemic in rural areas, and do a solid job in ensuring the stable production and supply of agricultural products
The Ministry of Agriculture and Rural Affairs issued the "Notice on Doing a Good Job in the Prevention and Control of the New Crown Pneumonia Epidemic in Rural Areas" on Sunday, emphasizing that it is necessary to do a solid job in ensuring the stable production and supply of agricultural products, further implement measures, consolidate responsibilities, and make every effort to grasp spring ploughing production.
National Development and Reform Commission: Further improve the production of important agricultural products such as grain and soybeans
According to Xinhua News Agency reported on Friday, the National Development and Reform Commission recently issued a notice calling for further production of important agricultural products such as grain and soybeans, stressing the need to make every effort to stabilize the area and output of grain sown, and pointing out that it is necessary to vigorously expand the production of soybeans and oilseeds.
Hu Chunhua stressed the need to take excellent measures to ensure the completion of the task of expanding soybean oilseeds
Hu Chunhua, vice premier of the State Council, pointed out at a teleconference on the promotion of the expansion of soybean oil on Friday that it is necessary to take multiple measures to increase soybean production, accelerate the recovery of soybean area in the northeast region, vigorously promote soybean and corn strip compound planting, strengthen agricultural science and technology research, and fully tap the potential of soybean planting in various places.
Vice Foreign Minister Le Yucheng: Globalization Cannot Be "Weaponized"
Le Yucheng said on Saturday that the sanctions against Russia are now getting more and more outrageous, and they have even used globalization as a weapon, even people in sports, culture, arts and performing arts, cats and trees have been sanctioned, and Russian citizens have been deprived of their overseas assets for no reason. Such sanctions will only bring harm to the people, impact the economic and financial system formed after the war, and make the world economy worse. The abuse of sanctions would have disastrous consequences for the entire world.
Hong Kong Financial Secretary Chan Mo-po: There is no systemic risk in Hong Kong stocks, and the ratio of total short positions to total market capitalization is still 1.3%
According to the Securities Times, the Financial Secretary of the Hong Kong Special Administrative Region Government, Paul Chan Mo-po, published an essay on the website of the Hong Kong Special Administrative Region Government on Sunday, saying that when the market was extremely volatile last week, we have been closely monitoring market changes to ensure that the markets in various sectors are operating in an orderly manner, settlement and settlement are smooth, there are no unusual behaviors that may seriously affect financial stability, and there are no systemic risks. Overall, there was no significant jump or increase in trading spreads, and although the amount of short selling increased, the total short position to total market capitalization ratio in the market was still 1.3%, which was close to the long-term average level, and there was no excessive aggregation or accumulation of derivatives positions. Even if the market falls, there is no capital outflow, and the financial situation of the brokerage is sufficient to cope with market risks.
Soared 2.2 trillion! Chinese stocks doubled in 4 days, and overseas short sellers returned to zero overnight! Goldman Sachs proposed "over-matching" China, and foreign-funded institutions collectively turned to more
From the anxiety of continuous declines to the ecstasy of a sharp rebound, Chinese stocks and US stocks have experienced a thrilling week.
China Securities News: Many banks have increased the scale of housing mortgage loans, with the fastest half-day approval and one-week lending
The China Securities News recently learned from a person from a local branch of a joint-stock bank that in early March this year, the head office of the bank asked all branches to increase the marketing of housing loan business to key real estate developers and large second-hand housing intermediary companies, and increase the scale of mortgage loans. A survey of a number of banks in Beijing found that the current housing mortgage loan amount of each bank is sufficient, the speed of delivery is accelerated, and some banks can approve and lend within half a day and within a week at the earliest. According to the combing, at present, China Merchants Bank, Ping An Bank, Guangfa Bank, Shanghai Pudong Development Bank, Industrial Bank and other banks have provided M&A financing support, and the real estate enterprises benefiting from it include real estate enterprises such as China Resources Land, Poly Development, Vanke, Country Garden, Midea Real Estate, and C&D Real Estate.
The transaction volume of second-hand houses has soared by 70%! There are hundreds of people waiting for new real estate to open! In this provincial capital city, the property market is "hot"
CCTV reported that after the release of the new policy of the Property Market in Zhengzhou, Henan Province on March 1, the city's purchase restrictions and loan restrictions were simultaneously relaxed, and the average weekly second-hand housing transaction volume in the first two weeks of March increased by 70% compared with the average weekly level in December last year, and the increase in core popular areas was obvious; the increase in house prices was not large, but the real estate preferential treatment was reduced.
Following the fine of 11.32 million yuan by Zhongde Securities, Ping An Securities will be suspended for three months due to the LeTV case
Securities Times learned from relevant people close to the regulatory level that the Shenzhen Securities Regulatory Bureau recently issued a prior notice of administrative regulatory measures to Ping An Securities, intending to order Ping An Securities to correct and suspend the qualification of the sponsoring institution for three months, the sponsor representative of the LeTV IPO project and the person in charge of the sponsorship business at the time identified as inappropriate for 5-10 years, and other corresponding compliance business and other related personnel were taken to supervise and talk. At present, the regulatory authorities are in the process of prior notification, and the corresponding administrative supervision measures will be formally issued after the completion of the procedures.
In response to the above report, Ping An Securities said that the company has received a prior notice. In the past ten years, the company has continued to establish and improve the internal control mechanism, and the level of compliance and risk control has continued to improve. The company will be in line with the principle of customer first, on the basis of laws and regulations and regulations and active communication with the supervision, better serve the development of the real economy.
Prior to this, Shanxi Securities announced on Friday that its subsidiary Zhongde Securities had received a prior notice that, as the sponsor and lead underwriter of the 2016 LeTV fixed increase project, the CSRC intended to decide to order Zhongde Securities to make corrections, give a warning, and impose a fine of 11.3208 million yuan; give warnings to two sponsor representatives and impose a fine of 150,000 yuan each.
100 billion real estate Sunshine City announced that 5 billion yuan of domestic debt default, updated the redemption plan said to complete the full payment as soon as possible
Sunshine City announced on Friday that due to the failure to pay the interest on overseas bonds on time triggered a cross-default, the company failed to fully repay the accumulated principal and interest of the four medium-term notes with accelerated maturity of about 5.028 billion yuan. In February this year, Sunshine City announced that two existing US dollar bonds with a scale of 300 million US dollars and 357 million US dollars were materially defaulted, foreshadowing the risk of cross-default.
Huamian Wealth, controlled by Sunshine City founder Lin Tengjiao, held an online investor meeting on Sunday to update the redemption plan of wealth management products: it will complete the full payment of all investors as soon as possible with a package redemption plan such as in-kind, cash, debt-to-equity conversion, and redemption of trust beneficiary rights.
China's first metro Beidou positioning system, built in Beijing, will provide positioning, navigation and timing services
According to CCTV, the mainland's first subway Beidou positioning system began construction on Sunday on the Beijing Metro Capital Airport Line, which is the largest indoor space navigation and positioning system on the mainland, covering 30 kilometers of operating lines and 5 stations on the Beijing Metro Capital Airport Line, and is expected to be completed within this year.
The three major A-share indexes closed up Northbound net inflows of more than 17.3 billion yuan The large financial sector led the counterattack Construction coal led the rise
On Friday, March 18, the Shanghai index fluctuated sideways in the morning, pulled up in the afternoon with the help of financial stocks, and the Shenzhen Component Index and the ChiNext Index turned red one after another, and the net inflow of 39 billion yuan was once in the tail. As of the close, the Shanghai index rose 1.12%, the Shenzhen component index rose 0.31%, and the ChiNext index rose 0.11%. The Hang Seng Index closed low on Friday, with the Hang Seng Technology Index closing down nearly 2 percent, led by technology and pharmaceutical stocks.
The central bank has a weekly reverse repurchase net investment of 90 billion yuan, and this week there will be 140 billion reverse repurchase due
The central bank increased its volume to reverse repurchase for the week as of Friday, March 18, and conducted a 200 billion yuan 1-year MLF operation on Tuesday.
The Department of Raw Material Industry and the First Department of Equipment Industry jointly held a symposium on the operation of the lithium industry and the price increase of upstream materials for power batteries
According to the website of the Department of Raw Material Industry of the Ministry of Industry and Information Technology, the meeting requested that upstream and downstream enterprises in the industrial chain should strengthen the docking of supply and demand, work together to form a long-term and stable strategic cooperation relationship, jointly guide the rational return of lithium salt prices, increase efforts to ensure market supply, and better support the healthy development of strategic emerging industries such as new energy vehicles in the mainland.
Multiple departments issued opinions on financial support for Zhejiang's high-quality development and construction of a common prosperity demonstration zone
The "Opinions" pointed out that it is necessary to serve the high-quality development of the real economy. Explore the path mechanism of financial support for scientific and technological innovation and green development, and consolidate the material foundation of common prosperity. Build a new development pattern and give full play to the advantages of Zhejiang's active market economy, developed private economy and high degree of economic export-orientedness.
Ping An's management answered everything: What do you think of the company's current stock price? How big is the exposure to real estate risk? Will the buyback promise be fulfilled?
Yao Bo, co-ceo and chief financial officer of Ping An of China, said that the current ping an stock price is indeed undervalued, and will actively do a good job in market value management to give back to shareholders in the future, including continuously increasing dividends, rewarding shareholders with better cash returns, and buying back shares of the company.
China Merchants Bank's revenue and profit growth last year was strong, and the non-performing loan ratio hit a new low in nearly eight years| earnings report
According to the annual report data, China Merchants Bank achieved operating income of 331.25 billion yuan in 2021, an increase of 14.04% year-on-year; net profit attributable to the mother of 119.922 billion yuan, an increase of 23.2% year-on-year; ROE reached 16.96%, a new high in the past six years.
Orient Wealth's net profit last year increased by 79% year-on-year, and it intends to increase the capital of its subsidiary Dongcai Securities by 16 billion | financial report
According to the annual report data, in 2021, the company achieved operating income of 13.094 billion yuan, an increase of 58.94% year-on-year; net profit attributable to the mother of 8.553 billion yuan, an increase of 79% year-on-year; the two main businesses of consignment sales and brokerage led to a high increase in performance.
Battery cost increases "outrageous"? In one week, the price of new energy vehicles of 7 car companies increased, up to 30,000! Soul torture is coming...
This year is not a question of price increases or price increases, who can survive smoothly after price increases - how to avoid price increases that lead to orders and sales falling, but they cannot get the battery supply and are eliminated in all directions.
A 50 basis point hike is coming? More senior Fed officials "let the wind": suppress inflation should be considered this way
Following St. Louis Fed President Bullard, who advocated a 50 basis point rate hike at last week's Fed meeting, Fed Governor Waller and Richmond Fed President Barkin both argued on Friday that the Fed could consider raising rates by 50 basis points to curb inflation. The Minneapolis Fed president did not support a 50 basis point rate hike, but said he would support more aggressive action if inflation persisted.
"King of Hawks" Brad: It has been suggested that the federal funds rate rise to more than 3% this year
St. Louis Fed President Bullard's call won't necessarily become a reality, but it means there's a certain disagreement within the Fed about raising rates.
Ignoring Fed rate hikes, Bank of Japan continues to insist on "super easing"
With its decision to stay put, the BoJ has become more maverick against the backdrop of interest rate hikes at other central banks around the world.
The risk of debt default plummets! Citi has processed $117 million in interest payments on Russian bonds
Citibank processed $117 million in interest payments on Russian bonds, and $117 million was no longer deposited in Citibank. Funds are paid in U.S. dollars. This means that the risk of Russian debt default is drastically reduced.
Oil prices climb again as the IEA warns: "Limit travel and travel!" It could rise sharply in the coming months
The International Energy Agency (IEA) called on member states to take "urgent measures" to reduce crude oil demand, noting that advanced economies could reduce demand by 2.7 million barrels per day and curb oil demand by reducing speed limits and using public transport to reduce potential pressure on the market. IEA officials said Russia could halt oil exports of up to 2.5 million barrels a day next month and that the world "is likely to be facing the biggest oil supply shock in decades."
Fall stop for the third consecutive day! Lun Nickel fell 12%, again a technical failure, LME extended the stop range to 15%
On Friday, March 18, Lun Nickel closed down 12%, and the decline once again touched the upper limit of the intraday decline, and the difference with the nickel futures contract in the previous period was further narrowed, but the price was still higher than the closing price of the main nickel futures of the Shanghai Stock Exchange today. In addition, the media said on Friday that Goldman's buying offer was 32% lower than the London Stock Exchange's close on Friday, which means that Lun Nickel is likely to fall sharply.
Head of the Russian delegation for the Russian-Ukrainian negotiations: The positions of the two sides on the core issues have been brought as close as possible
On Friday, March 18, local time, Mezinski, head of the Russian delegation to the Russian-Ukrainian negotiations, said that Ukraine's neutrality and Ukraine's non-accession to NATO are the core issues of the Russian-Ukrainian negotiations, and the positions of the two sides on this issue have been as close as possible. The two sides also began to explore the details of Ukraine's security guarantees without joining NATO.
Russia and Ukraine began a new round of negotiations on Monday
According to CCTV, formal online talks between the Russian and Ukrainian delegations will be held by video on Monday, March 21. Podoriak, an adviser to the Office of the President of Ukraine, said on Sunday that a new round of negotiations between the Russian and Ukrainian delegations will begin on Monday morning on the 21st local time. Intensive preparatory work had been carried out by the working groups.
Ukraine's president extended Ukraine's wartime state for another 30 days, saying he was ready to talk with Putin but would not accept compromise
According to CCTV, Ukrainian President Zelenskiy signed a presidential decree on Sunday, March 20 local time, extending Ukraine's wartime state for another 30 days from March 26. Zelenskiy said on the same day that he was ready to talk with Putin and firmly believed that the war could not be ended without negotiations. Zelenskiy believes that it is necessary to use any form and any opportunity to negotiate with Putin, and if these attempts fail, it will mean the beginning of World War III. Zelenskiy stressed that there are some compromises that the Ukrainian side cannot accept, such as the recognition of Donetsk, the independence of Luhansk, and Russia's acceptance of Crimea.
France announced a freeze on 22 billion euros of assets from the Russian central bank; Biden will attend a NATO summit and finalize new measures against the Russian-Ukrainian conflict, or further restrict Russian energy imports
According to CCTV, on Sunday, March 20, local time, France announced the freezing of 22 billion euros of assets of the Russian central bank. U.S. President Joe Biden will visit Europe this week for a NATO summit in Brussels, Belgium, on March 24, and finalize a series of new measures against the Russian-Ukrainian conflict. New measures that may be finalized at the NATO summit include a new round of sanctions against Russian oligarchs and further restrictions on imports of Russian energy products. U.S. and European officials have also recently discussed what measures could be taken to provide ukraine with more support, including new military or financial aid.
CCTV also said that White House press secretary Psaki said on social media that Biden traveled to Europe for an emergency meeting of NATO leaders, but had no plans to travel to Ukraine.
Iran intends to increase crude oil and condensate production and exports
Iran's oil minister, Jawad Ogi, said iran's parliament decided to increase the maximum daily export volume of crude oil and condensate from 1.2 million barrels to 1.4 million barrels, and the daily production capacity from 3.7 million to 4 million barrels to 5.7 million barrels, but did not disclose a timetable for achieving the target.
Japan calls on the UAE to increase production
Japanese Foreign Minister Lin Fangzheng said after a meeting in Abu Dhabi on Sunday with Sultan al Jaber, CEO of the UAE state-owned energy company Adnoc, that he hoped the UAE would contribute to stabilizing the global oil market by further supplying crude oil and securing production capacity, according to a statement from the Japanese Foreign Ministry. Jaber has expressed a strong willingness to support Japan in ways that include stabilizing the global oil market.
The UAE government has not commented on the meeting.
Crazy grain and cooking oil! There is a wave of panic hoarding in Europe
From noodles in Italian stores, to cooking oil in German supermarkets, to iodine tablets in Norwegian pharmacies, they've all been swept away. Unlike two years ago, it wasn't toilet paper that was snapped up this time.
Worse: The "millennium drought" in the United States may continue this year, affecting crop output
Nearly 60 percent of the continental United States is experiencing varying degrees of drought, the largest drought coverage since 2013.
Goldman Sachs is then a commodity "platform": the best risk hedging tool, and the recent pullback provides a buying opportunity
The Goldman Sachs Sabine Schels team believes that pessimism and liquidity have contributed to the recent "over-selling" in commodity markets. Given factors such as the strong spot market, commodities remain the best macro hedging tool at the moment. In the future, commodities will remain positively correlated with the US dollar.
China News - Regions and Industries
1. Beidou Positioning 丨 On the 20th, the first metro Beidou positioning system in mainland China began construction on the Beijing Metro Capital Airport Line, covering 30 kilometers of operating lines and 5 stations. This is the largest indoor space navigation and positioning system in mainland China, and it is expected to be completed within this year.
Comments: Galaxy Securities Li Liang said that in 2020, more than 60% of the world's terminals have supported the Beidou system, and it is expected that the penetration rate will continue to increase in the future, and the complete Beidou navigation system will occupy an important position. In addition, the integration and application of multi-technology and multi-field will bring new empowerment, and the Beidou mass application market is facing a broad market space and huge commercial potential.
2. Vaccine 丨 On the 19th, Zheng Zhongwei, head of the vaccine research and development task force of the scientific research group of the joint prevention and control mechanism of the State Council, said that from the beginning of the Emergence of the Omicron variant, the mainland vaccine research and development team took action. At present, the research and development of monovalent and multivalent vaccines for the Opicrong variant strain has made positive progress, and the preclinical research has been completed relatively quickly, and the declaration materials for clinical trials are being submitted to the national drug regulatory department on a rolling basis.
Comments: The research department of CITIC Securities believes that under the "dynamic zero clearance" policy, the mainland still needs to promote the new crown vaccine to strengthen vaccination. Due to the large number of mutation sites of the Omiljung gene and the significant increase in transmission capacity, only the completion of the initial complete vaccination procedure cannot meet the requirements of epidemic prevention, so the demand for the third injection of intensive vaccination will continue in the future. Referring to the influenza vaccine, it is expected that the enhanced needle market will reach 15 billion yuan.
3. Lithium Salt 丨The Department of Raw Material Industry of the Ministry of Industry and Information Technology, the First Department of Equipment Industry, together with the Price Department of the National Development and Reform Commission, the Price Supervision and Inspection bureau of the State Administration of Market Supervision and the Anti-Unfair Competition Bureau, recently organized a symposium on the operation of the lithium industry and a symposium on the price increase of upstream materials for power batteries, requiring upstream and downstream enterprises in the industrial chain to work together to form a long-term and stable strategic cooperation relationship, jointly guide the rational return of lithium salt prices, and increase efforts to ensure market supply.
Comments: CITIC Securities believes that with the increase in production in the salt lake, the completion of the maintenance of lithium salt plants and the increase in imported raw materials, the extremely tight supply and demand pattern of lithium carbonate since December last year will be alleviated, and the installed capacity and profitability of downstream lithium batteries are expected to increase.
4, solar cells 丨 In recent years, perovskite materials are rapidly becoming a popular candidate material in the field of solar energy. However, one of its main disadvantages is that it is easy to be in direct sunlight, and its performance will degrade over time.
The study laid the groundwork for the commercialization and widespread adoption of perovskite solar cell technology, supported by the U.S. Department of Energy's Office of Energy Efficiency and Renewable Energy. As the current mainstream photovoltaic technology, the efficiency of crystalline silicon photovoltaic power generation has been getting closer and closer to the limit. As an artificial synthetic material, perovskite was first tried to be applied to the field of photovoltaic power generation in 2009, and was rated as one of the top ten breakthrough scientific and technological advances of the year by science journals because of its excellent performance, low cost and huge commercial value.
5. Agricultural Machinery and Equipment 丨On March 17, the Ministry of Agriculture and Rural Affairs held a national agricultural mechanization work conference to deploy agricultural mechanization work in 2022. The meeting requested that in 2022, the work of agricultural mechanization should focus on the work layout of "four stability and four mentions" in agriculture and rural areas, pay close attention to providing equipment guarantee for all kinds of food production, accelerate the short board of agricultural machinery and equipment, accelerate the integration of mechanization with agronomic system, intelligent information technology, agricultural management mode, and farmland construction, lay a solid foundation for agricultural machinery, and improve the level of research and development and application of agricultural machinery and equipment.
Comments: The global geopolitical situation is tense, and food security is becoming more and more important. The state has vigorously grasped grain production, and the operating area and operating income of agricultural machinery have increased, which has stimulated the demand for agricultural machinery. The mainland is now promoting large-scale planting, which will increase the proportion of sales of medium and large agricultural machinery, and the state's subsidies are also getting bigger and bigger, which has promoted the supply and demand of agricultural machinery.
6. Immortal drug 丨 According to reports, china's State Food and Drug Administration (NMPA) recently announced that NMN (β-niacinamide single nucleotide) can be used as a new raw material for cosmetics to be recorded, and the filing company is displayed as Yuyao Laifus Ben Health Technology Co., Ltd., which is a wholly-owned subsidiary under the name of "Bulao Pharmaceutical" Geneport.
Comments: Studies have shown that NMN is beneficial to protect the heart, prevent diabetes, Alzheimer's disease, obesity, and has anti-aging effects. With the "loosening" of national policies, NMN is expected to open up approvals in food and other fields, and gain a legal and compliant market position in more fields.
7. Venture Capital丨 Central Bank and other four departments and the People's Government of Zhejiang Province jointly issued opinions on financial support for Zhejiang's high-quality development and construction of a common prosperity demonstration zone, which pointed out that it is necessary to enhance the ability of financial service technology innovation. Focus on the construction of the three major scientific and technological innovation highlands of "Internet +", life and health, and new materials, support banks to set up science and technology branches, and explore the formation of a professional business management system that is compatible with the characteristics of science and technology enterprises.
Comments: The industry believes that innovation is the driving force of economic and social development, and financial participation in scientific and technological innovation is conducive to leveraging scientific research activities, which is conducive to the formation of market-oriented value discovery, risk pricing and resource allocation functions in the field of science and technology innovation, and promotes the greater development of scientific and technological innovation. With the release of the opinions on financial support for Zhejiang's high-quality development and construction of a common prosperity demonstration zone, Zhejiang science and technology innovation enterprises are expected to usher in development opportunities, and zhejiang local venture capital companies with layouts in related fields are expected to benefit.
8, graphite electrode 丨 According to Baichuan Yingfu, since the middle of February, the domestic graphite electrode price has continued to rise, following the previous week's rise of 1.5%, on March 18, the domestic graphite electrode price was significantly raised, up to 4.97%, and the cumulative increase since mid-February has exceeded 18%, and set a new high since June 2019.
Comments: The analysis believes that some graphite electrode enterprises have received a series of production restriction requirements such as power rationing, autumn and winter environmental protection control, winter and Paralympic environmental protection restrictions since October 2021, and some enterprises have stopped production since the end of January 2022 and have just resumed production recently. Moreover, the resumption time of some enterprises in Hebei has been delayed, and the long production cycle of graphite electrodes has been superimposed, the overall inventory of short-term graphite electrode enterprises has maintained a low level, and the supply of some specifications continues to be tight.
Today's highlights are forward.2
China's one-year and five-year market loan market quotation rate (LPR) in March; Rendu Bio, the first share of A-share RNA diagnosis and the listing of the Science and Technology Innovation Board; Germany's February PPI; the United States February Chicago Fed National Activity Index; European Central Bank President Lagarde's speech; the Fed's 2024 FOMC Voting Committee and Atlanta Fed President Bostico speaking.
【Ling Peng Master Class New】Investment Review Series III.: Comparison and Change of A-share Industry Review - 20 Years of Change in The Review Cycle, Consumption, and Technology
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