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Daily market research 20180801

Fang submitted 2018-08-01 23:36:16

SSE Composite Index decreased 1.80% to 2824.53 last trading day. Shenzhen Composite Stock Index decreased 1.89% to 9005.37 last trading day. Growth Enterprise Index decreased 1.24% to 1541.86 last trading day. The turnover of both Shanghai and Shenzhen was 328.52 billion CNY in last trading day, and it increased relative to the previous trading day.

In the view of sectors, 1 of 28 SWS Level-1 sectors increased while 27 sectors dropped. Specifically, Leisure Services (SWS)(0.06%), Transportation (SWS)(- 0.46%) and Construction Decoration Materials (SWS)(-0.94%) did the best performance while Real Estate (SWS)(-3.17%), National Defense & Military (SWS)(-3.16%) and Steel (SWS)(-2.98%) did the worst performance.

As for the option contracts of 50ETF: the total turnover during 2018-08-01 was 1558313 lots (changed 91.99%) and 875475 lots for call, 682838 lots for put, currently the total open interest is 1564090 (changed 2.61%), and 898992 for call, 665098 for put. The put/call ratio in turnover is 0.7800 and put/call ratio in open interests is 0.7398.

Some analysts say that the recent announcement of the central bank's open market trading may provide some clues. Noting that the July 20th trading bulletin pointed out that "banking system liquidity is at a reasonable level of adequacy". on July 24rd, after the 502 billion yuan and 1-year MLF operation was carried out by the central bank the trade announcement pointed out that "the current total liquidity of the banking system is at a high level." On July 25th and 26, the trade announcement said that the factors such as the withdrawal of the legal reserve and the end of the month's financial expenditure could be hedged by the factors such as the expiry of the reverse repurchase of the central bank. "To maintain a reasonable liquidity of the banking system", the operation was not carried out. Judging from this, the level of liquidity since July 20th should be roughly or slightly higher than that of "reasonable abundance". Since late July, DR007 has been stable between 2.6%-2.7%.


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