Macro strategy Daily: relax property market policies in more places to support rigid and improved housing demand

Asset performance and capital changes:

The top five prices of Chinese commodities: soda ash 4.43%, Shanghai tin 4.26%, iron ore 3.46%, Shanghai nickel 3.09%, glass 2.40%; Fuel oil – 2.08%, urea – 2.04%, dynamic coal – 1.66%, crude oil – 1.36%, plastics – 0.95%

The top five (100 million yuan) of precipitation capital inflow and outflow: iron ore 4.44, soda ash 4.00, pulp 1.32, Shanghai nickel 0.81 and pp0.01 78; Crude oil-2.65, methanol-1.40, fuel oil-1.39, zhengtang-0.95, pvc-0.79

Inflow and outflow of precipitation funds from the sector (RMB 100 million): non ferrous metals 9.38, black building materials 3.99, precious metals -0.30, energy and chemical industry -1.93, Shenzhen Agricultural Products Group Co.Ltd(000061) 1.96

Important news and economic data:

President Xi Jinping delivered a video speech at the opening ceremony of the BRICs foreign ministers’ meeting Xi Jinping stressed that development is the common task of emerging market countries and developing countries. In the face of current risks and challenges, it is more important than ever to strengthen unity and cooperation between emerging market countries and developing countries.

Yinchuan issued the implementation opinions on promoting the virtuous circle and healthy development of the real estate industry in Yinchuan. The minimum down payment ratio of the first house was reduced to 20% and that of the second house to 30%.

The number of initial jobless claims in the United States in the week to May 14 was 218000, with an expected 200000, up from 197000.

JPMorgan Chase: cut the real GDP growth forecast of the United States in the second half of the year from 3% to 2.4%.

Minister of agricultural policy and food of Ukraine: grain production in Ukraine is likely to decline by 50% this year.

The annualized total number of existing home sales in the United States in April was 5.61 million, which is expected to be 5.65 million, compared with the previous value of 5.75 million.

Risk tip: the decline of China’s real estate and the intensification of overseas geographical conflicts

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