Deputy Director of State-owned Assets Supervision and Administration Commission of the State Council: The implementation plans for mixed reform of the third batch of pilot enterprises have been approved one after another.
Zhengshang Institute: Adjust the margin standard of PTA futures and some contracts of Apple futures.
Market review
Market comments: the volume can shrink rapidly, and light warehouse investors can add a small amount of positions on dips.
Macro point of view: It is strictly forbidden to "down payment loan" and consumer loan funds flow into the real estate market and other illegal acts.
Urea: Recently, the price of urea in the US Gulf has risen sharply.
Futures information
Metal energy: gold 267.65, up 0.19%; Copper 48800, down 0.31%; London oil distribution was 77.69, up1.84%; Rebar 4 128, down 2.27%; Aluminum 14985.0, up by 0.13%; Shanghai Nickel 109920, down 0.35%; Zheng Chun 3274, down 0.64%; The PVC index was 7000.0, down by 0.28%; Iron ore was 478.5, down1.03%; Coking coal 1250.5, down 0.91%; Coke was 2537.5, down1.82%; Rubber 12495, up1.09%;
Agricultural products: soybean oil 5784, down 0.34%; Corn 1877, down 0.42%; Palm oil was 4,862.0, down 0.29%; Cotton 167 10, down1.56%; Zhengmai 26 18.0, down 0.34%; Sugar 5004.0, down 0.22%
Exchange rate: Euro/USD 1. 1708, up 0.12%; USD/RMB 6.8 182, up 0.26, USD /HKD 7.8484, down 0.0 1%.
New stock tips
1, Yayun shares, subscription code 732790, subscription price 10.98 yuan.
Main recommendations
1. Deputy Director of the State-owned Assets Supervision and Administration Commission of the State Council: The implementation plans for the mixed reform of the third batch of pilot enterprises were successively approved.
On August 29th, the State Council State-owned Assets Supervision and Administration Commission held a media briefing on "Innovating system and mechanism to enhance enterprise vitality", and introduced the latest progress and situation in key areas of state-owned enterprise reform. Weng, deputy director of the State-owned Assets Supervision and Administration Commission of the State Council, pointed out at the briefing that deepening the reform of state-owned enterprises at present involves perfecting the corporate governance structure of state-owned enterprises, perfecting the market-oriented operation mechanism, deepening the pilot of state-owned capital investment and operation companies, reforming mixed ownership, and comprehensively launching the "Hundred Flowers Action" of state-owned enterprise reform. Regarding the reform of mixed ownership, Weng Mingjie said that the pilot reform of mixed ownership in key areas led by the State-owned Assets Supervision and Administration Commission of the State Council and the National Development and Reform Commission continued to advance. The first two batches of pilot enterprises continued to promote the implementation plan. Recently, the pilot enterprises owned by AVIC, China Gold and COFCO respectively completed the introduction of strategic investors, shareholding system reform and reorganization and listing. The implementation plan for the mixed reform of the third batch of pilot enterprises has also been approved one after another.
Comments: As the benchmark of the mixed reform of state-owned enterprises, the performance of China Unicom (600050) has been significantly improved after the mixed reform, which has also boosted the confidence of market investors in the mixed reform of state-owned enterprises. It is expected that state-owned enterprise reform concept stocks will have active performance opportunities in the short term.
(Investment Consultant Jin Cai Registered Investment Consultant CertificateNo.: S02606 1 1090020)
2. Zhengshang Institute: Adjust the margin standards for some contracts of PTA futures and Apple futures.
Zhengshang Institute: Since the settlement on September 3, 20 18, the trading margin standard for PTA futures 1809 contracts has been adjusted to 30%, while that for PTA futures 18 1 1 contracts has been adjusted to 12%, and for Apple futures.
Comments: PTA and other commodity futures prices have continued to rise in the past two months. The increase in the margin standard by Zhengshang Institute is expected to reduce the speculative atmosphere of such varieties. It is expected that PTA-related stocks in the A-share market will also be negatively affected.
(Investment Consultant Jin Cai Registered Investment Consultant CertificateNo.: S02606 1 1090020)
Market review
1, market comments: the volume can shrink rapidly, and light warehouse investors can add a small amount of positions on dips.
On Wednesday, the market continued to shrink slightly, and the Shanghai Composite Index closed at 2,769 points, down 0.3 1%. The GEM index closed at 148 1, down 0.8%. The turnover of the two cities was 246.3 billion yuan, a decrease of 456.5438 billion yuan compared with Tuesday, and the turnover continued to shrink. In terms of sector index performance, only shipbuilding, real estate, agriculture, forestry, animal husbandry and fishery, aviation, internet, wine making and coal barely closed, while other sectors were not dry again. Transportation, hotel catering, tourism, media, daily chemicals, nonferrous metals, semiconductors, steel, household appliances, papermaking, construction and other sectors were among the top losers. On Wednesday, the market ushered in a small adjustment for two consecutive days. All financial stocks were adjusted, and theme stocks fell back one after another. Especially after the heavyweights, the technology theme stocks showed signs of adjustment. The trading volume of the two cities has obviously shrunk for two consecutive days, and the market's upward momentum is lacking, and the intraday momentum is unsustainable. On the whole, although the rebound market has not been destroyed, the lack of upside has left hidden concerns. With the arrival of the end of August, the results of the interim report have been announced, and some interim reports that have promoted the market may come to an end. It is necessary to be alert to the fall of the previous performance speculation target and the withdrawal of short-term funds. In addition, under many favorable conditions, such as the attention of the Finance Committee meeting to the stock market and the rebound of RMB, the index did not continue to rebound, which also made the trend at the end of the month not optimistic. If the trading volume cannot be broken again, the probability of short-term correction of the market index is greater, and the characteristics of repeated shocks and bottoming of the market will continue. Of course, at this stage, there are policies to support the bottom, the market valuation is at a low level, and the investment value of many sectors and stocks has already appeared. Even if the next market is still repeated, but the downside space is limited, you can grasp the structural opportunities of individual stocks on dips. In operation, the index is light, individual stocks are heavy, and short-term callback opportunities are used to rebound on dips. Focus on technology growth stocks such as 5G and software, as well as financial and consumer white horse stocks.
(The investment consultant has registered the investment consultant certificate number: S02606 130900 15)
2. Macro view: It is forbidden to violate the rules such as "down payment loan" and consumer loan funds flowing into the real estate market.
The China Banking Regulatory Commission held a video conference on bank insurance supervision, proposing to steadily push forward the reduction of leverage, seize key tasks such as interbank, wealth management and off-balance sheet, further improve differentiated real estate credit policies, and strictly prohibit violations such as "down payment" and consumer loan funds flowing into the real estate market; Further deepen the rectification of market chaos and continuously strengthen the special rectification of internet finance, especially the risk of peer-to-peer lending.
Investment Comments: Recently, P2P default incidents have been reported in many places, and Internet financial chaos needs to be rectified urgently. Despite the economic downturn in June and July, the short-term central bank may appropriately hedge this money, but it is strictly forbidden for "down payment loans" and consumer loans to flow into the real estate market. It can be seen that the government's attitude towards real estate is unprecedented, and real estate speculation may become a thing of the past.
(The investment consultant has registered the investment consultant certificate number: S02606 130900 15)
3. Urea: Recently, the price of urea in the US Gulf has risen sharply.
Last week, the FOB price of urea granules in Meiwan was raised by USD 29/ton to USD 287/ton (up15.73% compared with the previous week); The price of urea in Shandong, China is maintained at 1.950 yuan/ton. Benefiting from the rapid growth of seasonal demand for urea in Europe, Brazil, India and the United States, and Iran and Russia may be affected by sanctions and reduce their exports, the global demand for urea may continue to fall short of demand from September to June.
Investment Comments: Due to the increase in seasonal demand and the global trade war, the price of urea has risen rapidly recently. Wet weather and firm prices have stimulated a sharp increase in winter wheat planting in the United States. In the fourth quarter, the demand for chemical fertilizers and urea in the United States will further increase, and urea is still expected to rise. With the depreciation of domestic RMB, China's urea exports are expected to increase, and investors can pay attention to domestic urea-related stocks.
(The investment consultant has registered the investment consultant certificate number: S02606 130900 15)
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