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Market review: July 07, 2016

Fang submitted 2016-07-07 18:24:06

Market review:

China stocks barely moved as no much surprise came out from Fed Minutes report, with SHA declined about 0.01%.

Research Notes:

Money flowed into Complex Materials, Non-Ferrous Metal Mining and Medicine sectors the most. Shangdong Homy Aquatic Development Co. (600467.sh) rallied to a second limit-up for its expansion into healthcare industry with cooperation with a Korean hospital.

The selling of CNYUSD took a break with offshore CNY hit 6.7 threshold and some bears taking profit. In commodity market, the slump of soybean meal and rapeseed meal continued as wet perspective pressure the CME soybean complex, and many bulls forced to liquate their long positions. The weather pattern in US soybean growing area still turned out to biased to El Nino pattern, which defined by cool and wet pattern and good for yields forming. Hereby agri-investors should keep their exposure low for the short term until we could see the return of hot and dry weather pattern. For SHA, those water conservancy facilities, gold miners and lithium battery producers are still in spot light. And we would fix our expectation that commodity class can outperform equity if current weather pattern continues in US.


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