The national development and Reform Commission organized the investigation of abnormal trading behavior in the power coal futures market
For the recent abnormal fluctuations in the prices of individual varieties of thermal coal futures, the national development and Reform Commission, together with relevant parties, carried out the investigation of abnormal trading behavior, carefully screened the trading subjects suspected of malicious speculation, and invited the relevant local functional departments to conduct serious interviews. Next, the national development and Reform Commission will continue to work with relevant departments to continuously strengthen the market risk monitoring and response mechanism, effectively prevent market risks and curb excessive speculation, resolutely investigate and deal with all kinds of violations in the power coal futures market in accordance with the law and regulations. In view of the obvious inconsistency between some coal price indexes and the actual level of coal prices in the current market, the national development and Reform Commission organized relevant local government departments, coal enterprises, ports and coal price index institutions to hold meetings to compare and verify the sampling information of the index one by one.
Overall, the national measures to promote energy prices to ensure supply and stabilize prices are still the key work. It has been repeatedly mentioned in the previous documents of the national development and Reform Commission that as of February 24, the thermal coal futures closed at 817 yuan / ton, up nearly 25% from the low point at the end of last year. On January 28, 2022, the guidance price of the national development and Reform Commission required that the entrance price of power coal pit should not exceed 700 yuan / ton and the port price should not exceed 900 yuan / ton. All major coal enterprises have also implemented and promoted it one after another. In the medium and short term, the low-temperature rain and snow climate or the demand for coal consumption within the price limit still form a certain support, which does not rule out the strong operation within the price limit. However, with the subsequent warming of the temperature and the main coal producing areas are expected to accelerate the resumption of work under the background of ensuring supply, the subsequent coal may be relatively stable.
Biden announced sanctions against Beixi II, and ulak announced a state of emergency
According to China Central Television News, US President Biden officially announced on February 23 local time that new sanctions would be imposed on Nord stream2 Ag and its executives. Biden said in a statement released on the same day that these steps are preliminary sanctions taken by the United States against Russia’s actions in Ukraine.
On Wednesday, February 23, US Eastern time, according to Bloomberg, the Biden government is studying coordinating action with its allies to release strategic oil reserves (SPR) by using emergency supply again to deal with the soaring oil prices caused by the Ukrainian crisis. Although the White House has not yet made a decision on this, it is “actively communicating” on this potential option internally, including potential price point triggers and how to coordinate the release of reserves with other countries.
According to China Central Television News, the Ukrainian parliament voted 335 in favor on the 23rd to implement a 30 day state of emergency throughout the country (except Donetsk and Lugansk regions) from 0:00 local time on the 24th.
From 4:00 on the 23rd local time, many websites such as the National Bank of Ukraine, the Ukrainian cabinet and the Ministry of foreign affairs were closed due to large-scale cyber attacks.
Financing funds
On February 22, the balance of A-share financing was 1629.665 billion yuan, an increase of 2.860 billion yuan month on month; The balance of margin trading was 172.5280 billion yuan, an increase of 2.100 billion yuan month on month. The balance of financing minus securities lending was 1534.05 billion yuan, an increase of 3.621 billion yuan month on month.
Land stock connect and Hong Kong stock connect
On February 22, the net purchase transaction of land stock connect on that day was -7.340 billion yuan, including 41.359 billion yuan of purchase transaction and 48.699 billion yuan of sales transaction, with a cumulative net purchase transaction of 164.8837 billion yuan. Hong Kong stock connect had a net purchase transaction of HK $06 million on the same day, including a purchase transaction of HK $17.591 billion and a sale transaction of HK $17.597 billion, with a cumulative net purchase transaction of HK $2226.722 billion.
Money market
On February 23, Bank Of Shanghai Co.Ltd(601229) inter-bank offered rate Shibor overnight interest rate was 2.0430%, up 0.40bp, Shibor week was 2.1760%, down 1.50bp. The weighted interest rate of pledged repo of deposit institutions was 2.0491% overnight, up 2.34bp and 2.1919% a week, up 0.37bp. The 10-year maturity yield of China national debt was 2.7900%, down 3.00bp.
Overseas stock market
On February 23, the Dow Jones Industrial Average closed at 33131.76 points, down 1.38%; The S & P 500 index closed at 4225.50 points, down 1.84%; The NASDAQ index closed at 13037.49, down 2.57%. European stock markets, French CAC index closed at 6780.67 points, down 0.10%; Germany’s DAX index closed at 14631.36 points, down 0.42%; The FTSE 100 index closed at 7498.18, up 0.05%. In the Asia Pacific market, the Hang Seng Index closed at 23660.28 points, up 0.60%.
Foreign exchange rate
On February 23, the dollar index rose 0.12% to 96.2042. The euro fell 0.19% against the dollar to 1.1305. The dollar fell 0.04% against the yen to 115.0185. Sterling fell 0.29% against the dollar to 1.3547. The spot exchange rate of RMB against the US dollar closed at 6.3178, up 0.28%. The spot exchange rate of offshore RMB against the US dollar closed at 6.3125, up 0.18%. The central parity rate of RMB against the US dollar closed at 6.3313, up 0.27%.
Gold, crude oil
On February 23, Comex gold futures rose 0.56% to close at US $1910.90/oz. WTI crude oil futures rose 0.69% to close at US $92.24/barrel. Brent crude oil futures fell 1.83% to US $94.73/barrel. COMEX copper futures fell 0.99% to close at US $4.4605/lb. LME copper three-month futures fell 0.38% to close at US $9846 / ton.
