YUAN TALKS
@YuanTalks
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Joined October 2015
#China's securities regulator CSRC has reportedly notified brokerages to suspend short selling of stocks from Feb 3, according to the 21st Century Business Herald.
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The #PBOC said it will inject 1.2 trillion yuan liquidity on Monday via open market operations.
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Large Number of Ships and Cargo Planes Suspend Services on China-US Routes, Chinese Exporters Halt Most Shipments .
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More than 3000 stocks limit down.
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A #coronavirus patient discharged following recovery in Chengdu, Sichuan province, has been readmitted after testing positive again during the quarantine period at home, said local public health authority on Friday, adding that similar cases have been reported in other regions.
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#China's passenger #car sales slumped 92% y/y in the first half of February due to the #coronavirus outbreak, said the Passenger Car Association, the biggest drop on record.
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CHINA CONFIRMS PHASE-ONE TRADE DEAL. GENG SHUANG, SPOKESMAN OF FOREIGN MINISTRY, SAID US STATEMENT ON PARTIAL TRADE DEAL IS ACCURATE.
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#Evergrande sell-off deepens. China Evergrande is slumping over 10%, Evergrande New Energy Vehicles & HengTen Networks down over 6% and Evergrande Property Services down 5%. Evergrande said it has begun repaying investors in its wealth management products with real estate.
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Chinese #property developer #CountryGarden is slumping over 13% in HK after it failed to make coupon payments on two dollar #bonds listed in Singapore.
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In case you don't understand the difference btw the two PMI. Official PMI mainly tracks large-sized companies, mostly SOEs. Caixin PMI mainly tracks small-sized companies. So, both indexes dropping below 50 paints quite a bleak picture.
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Just In:.#China's #manufacturing activity back in expansionary territory. Manufacturing #PMI picks up to 50.5 in March, the HIGHEST in five months, vs prev 49.2, exp 49.5
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Chinese local govts have announced more than 11 trillion yuan worth of investment, most in infrastructure projects, in an effort to boost the economy that has been hard hit by the coronavirus outbreak.
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#Shenzhen saw second-hand home sales plunge 79.96% y/y in Aug to about 195,400 sqm, and unit sales tumbled 81.96% to 2,043 units, vs 11,322 units in the same period last year, according to local official data.
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#China's lithium carbonate futures contracts hit limit-up across the board for 2nd straight day. The most-traded Jul 2024 contract is surging 10% to jump back above 100,000 yuan/tonne mark.
#China's #lithium carbonate futures contracts all hit limit-up, surging by daily limit of 7%. The most-traded contract, for Jan 2024 delivery, is surging 7% to 95,600 yuan per tonne.
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China's stock market rally continues on Tuesday. The #Shanghai Composite Index extends gains to more than 2%, jumping above 3,400 mark for the first time since Jan 2018.
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#China’s #commodity futures slump, crude oil, iron ore, steel rebar futures hit limit-down
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#BREAKING:.XI, TRUMP AGREE TO RESTART CHINA-US TRADE TALKS;.US SAYS NOT TO ADD NEW TARIFFS ON CHINESE EXPORTS.(OFFICIAL XINHUA NEWS).
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A huge sell-off in #commodity futures in #China. Copper, Aluminium, Tin, Rubber, Cotton, PTA, Ethylene Glycol futures all hit limit-down. Crude Oil futures tumble more than 7%. Fuel oil futures plunge nearly 10%
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Citigroup raised 3-month target for #copper to $11,000/tonne from previous target of $8,800/tonne, saying the super-cycle for copper will last for at least 3 - 4 years.
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PetroChina International paid for 1 mln barrels of oil using digital #yuan, the 1st cross-border oil transaction using the digital currency - Shanghai Petroleum and Natural Gas Exchange.
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Happy Chinese New Year!. Wish you wisdom, strength and good fortune in the Year of the Snake!
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#PBOC injects 60 bn yuan liquidity to the banking system via 7-day reverse repo and 60 bn yuan via 14-day reverse repo on Wednesday, at 2.2% and 2.35%, respectively. Meanwhile, 30 bn yuan reverse repo expiring today, leaving a net 90 bn yuan injection.
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#China is expected to ban imports of #Australian #wheat -SCMP. Barley, sugar, red wine, timber, coal, lobster, copper ore and copper concentrates from Australia will be barred from China even if they've been paid for and arrived at ports. The ban on wheat is likely to follow.
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#China's most-traded futures contracts of coke, coking coal, thermal coal, steel rebar and glass all hit limit-down on Thursday. Iron ore futures tumbled nearly 9%, PVC futures sliding nearly 8%, hot-rolled coil futures down more than 6%.
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#China said it will release 30,000 tonnes of #copper, 70,000 tonnes of #aluminium and 50,000 tonnes of #zinc from its state reserves in the near term, the fourth batch this year.
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Chinese President #Xi Jinping to Pay State Visits to Vietnam, Malaysia, and Cambodia - Foreign Ministry.
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JUST IN. #China's industrial profits fell 9.9% y/y in Oct, vs 5.3% drop in Sept, said the National Bureau of Statistics.
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JUST IN:.CHINESE PRESIDENT XI CALLS FOR EARLY CONCLUSION OF NEGOTIATIONS ON TEXT OF CHINA-US ECONOMIC AND TRADE AGREEMENT (XINHUA).
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China's #Sinopharm reports its #COVID19 #vaccine efficacy rate reached 97% in early Phase-III trials.
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#GoldmanSachs raised forecast of #Gold price in the next 12 months to $2,300 per ounce from previous $2,000. It raised forecast of #Silver price to $30 per ounce from previous $22.
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Chinese President #XiJinping:.#China should be prepared for a long term struggle as "China's development is entering to a period when various risks and challenges are emerging together".“The struggles we face will continue at least through 2049”.
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Chinese property developer #Sinic Holdings (Group) Company Ltd slumped more than 87% in Hong Kong to break through HK$1 mark.
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Shares of construction machinery makers are surging. #China's excavator sales hit record 49,408 units in Mar, 11.6% higher than previous record of 44,278 a year earlier, said industry body. Sales are expected to surge 55% y/y in Apr due to pickup in infrastructure construction.
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#BREAKING. #China's factory activity returned to expansion in Jan, with official #manufacturing #PMI coming in at 50.1, vs prev 47, expected 49.8. Non-manufacturing PMI for Jan comes in at 54.4, vs prev 41.6, expected 52.
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Over 400 Chinese property developers have filed for bankruptcy so far this year amid tightening govt scrutiny, slowing home sales and a cash crunch.
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A 20-year-old Chinese female from Wuhan infected five relatives without ever showing symptoms, offering new evidence that the #coronavirus can be spread asymptomatically, shows a study by Chinese scientists.
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#Tencent has invested in more than 800 companies so far, 70 of which have been publicly listed and more than 160 of them have grown into "Unicorns" valued more than $1 billion, said Liu Zhiping, president of Tencent.
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The #coronavirus' incubation period could be much longer than 14 days. A 70-year-old man in Hubei province, the epicenter of the outbreak, was infected with the virus but didn't show any symptoms unitl 27 days later, said local health authority Saturday.
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Trading of several Chinese #property developers will be suspended in HK from Friday as they failed to release 2021 financial report by Mar 31 deadline. The firm include Shimao Group, Kaisa Group, China Aoyuan, Aoyuan Health, Sunac China, Times China, etc.
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#China's most-traded stainless #steel futures in Shanghai hit limit-up, surging 7% to hit 19,585 yuan/tonne, after jumping nearly 6% in previous session. Hot-rolled coil and steel rebar rose 1.7% to 5,822 yuan/tonne and 5,473 yuan/tonne, respectively.
#China's most-traded #IronOre futures on the Dalian Commodity Exchange, for Jan delivery, extends loss to more than 6% to hit 723.5 yuan per tonne, the lowest level in more than a year.
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Taiwan Semiconductor Manufacturing Co. (TSMC) stopped taking new orders from Huawei in May and will no longer ship chips to Huawei after mid-Sept in compliance with US sanctions, TSMC said.
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Chinese #property developers see a sell-off as housing market remains sluggish. An index tracking the sector is down 5%, making it one of the worst-performing sectors in A-share market. In Labour Day holiday, new home sales in major cities fell 52.3% y/y.
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#China's #lithium carbonate futures contracts all hit limit-up, surging by daily limit of 7%. The most-traded contract, for Jan 2024 delivery, is surging 7% to 95,600 yuan per tonne.
#China's most-traded #lithium carbonate futures contract is rebounding over 5% after massive selloffs earlier this week.
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#Apple is extending its retail store closures in #China to Feb. 15 as the #coronavirus continues to spread. Apple last week said it would close all 42 stores in China until Feb. 10.
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Several #commodities are jumping on Monday. The most-traded #zinc futures contract on the Shanghai Futures Exchange, for Nov delivery, jumps over 7%. Thermal #coal in Zhengzhou and coke in Dalian are jumping more than 6%. #Copper futures in Shanghai gain more than 4%.
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The number of deaths from #coronavirus in #Hubei rose by 242 to 1310 as of Wed. A further 14840 new cases were detected in Hubei, bringing the total number in the province to 48206. The sharp rise comes after they start to count clinically diagnosed cases as confirmed cases.
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#China’s factory activity unexpectedly returned to expansion in Nov. #Manufacturing #PMI rose to 50.2, highest since Mar, vs prev 49.3, expected 49.5. Index for new orders is back to growth. New export orders hit 7-month high but still in contraction.
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#CHINA'S COMMERCE MINISTRY:. CHINA, US HAVING DEEP DISCUSSION ON SIZE OF TARIFFS THAT NEED TO BE REMOVED;. THE SIZE SHOULD FULLY REFLECT SIGNIFICANCE OF PHASE-ONE DEAL, SHOULD BE DECIDED BY THE TWO SIDES;. TRADE WAR STARTED WITH TARIFFS, SHOULD BE ENDED WITH REMOVAL OF TARIFFS.
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