4/16/2021 Financial News: Large Funds Reduce 100M SMIC Hong Kong Stocks; 60% Of STAR Market’s Shares Become Zombies

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1.Large funds reduce its holdings of 100 million SMIC Hong Kong stocks

According to data from the Hong Kong Stock Exchange, the National Integrated Circuit Industry Investment Fund reduced its holdings of SMIC’s shares by 100 million on April 9 and 12, the industry leader Semiconductor Manufacturing International Corporation SMIC (56.430, -0.63, -1.10%). The shareholding ratio fell to 8.93%. In fact, before reducing its holdings of SMIC’s Hong Kong stocks, big funds have recently announced that they will reduce their holdings of multiple-chip stocks. In the booming industry, big funds did not withdraw from the semiconductor field as a whole, but made structural adjustments. The change in the role is also one of the reasons why the holdings of big funds are frequently reduced. SMIC is a partially state-owned publicly-listed CCP semiconductor foundry company and is the largest in Communist China.

2.60% of the shares of the Sci-tech Innovation Board become zombies

According to statistics, taking the transaction volume on April 13 as an example, 173 of the 261 companies that traded with the Sci-tech Innovation Board (STAR Market) had a transaction volume of less than 50 million that day, accounting for 66.28%. There are 37 companies with a turnover between 5-10 million yuan, 59 companies with a turnover between 10-20 million yuan, and 70 companies with a turnover between 20-50 million yuan, and only 6 of the turnover of over 500 million yuan yesterday. No listed company in the Sci-tech Innovation Board has a transaction value of more than 1 billion yuan, and 18 listed companies on the ChiNext Board has a transaction value of more than 1 billion yuan. The trading volume of all listed companies of the Sci-tech Innovation Board on April 13 was 18.2 billion, and the top 6 listed companies on the ChiNext Board exceeded 18.7 billion in trading volume.

3.The soaring steel prices push builders to construct as earlier as possible

According to data released by the National Bureau of Statistics, in early April 2021, compared with late March, the price of steel has increased the most. After the Spring Festival, the average steel price per ton has risen by more than 1,000 yuan from last year’s low. The price of steel has soared. Due to the rapid increase in steel prices, the pressure on customers’ funds is relatively high, and many customers have lowered the prepayment ratio. Wang Xianwen, chairman of Chongqing Maofeng Industrial Development (Group) Co., Ltd., mentioned that If he prepared for this last year, he can save at least 10 million yuan.

4.Baic Bluepark New Energys sales plummeted by 82%

According to the performance forecast of Baic Bluepark New Energy, the estimated net profit attributable to shareholders of listed companies in 2020 will be -6.2 billion to -6.7 billion after deducting non-recurring gains and losses. This loss is also the first loss of Baic Bluepark New Energy after its listing. In 2020, the sales of Baic Bluepark New Energy fell by 82.79% year-on-year. The huge drop was believed to be due to below reasons: 1) Large subsidies 2) Low-end models are stuck in a transformation dilemma 3) The instability of the senior management team.

5.30 billion big bull stocks crashed and fell to the limit, and the market volume continued to be sluggish

Recently, “Kill a white horse a day” has been circulating in the market. Basically, there are long-term numbers, and the price of high-performance stocks has dropped to the daily limit. Heavyweights plummeted! Liquor and banks did not avoided the big crash. Behind the “killing of white horse stocks” is the fanatical concern about high valuations! All the “white horses” that were killed have one thing in common: that is, the previous increase was too large, or they were once well-known institutional stocks.

6.JPMorgan says U.S.-sanctioned Russian bonds could be excluded from key indexes

LONDON/NEW YORK (Reuters) – U.S. sanctions announced on Thursday on newly-issued Russian government debt could see the bonds excluded from JPMorgan’s influential indexes, including the emerging market local-currency GBI-EM investment index, the bank said. Russia’s share in JPMorgan’s GBI-EM index, the main global benchmark for emerging market local currency bonds, now sits at 7.1% compared with 8.9% a year ago and the maximum possible 10% in 2014 before Russia was hit with Western sanctions for annexing part of Ukraine. The U.S. bank said 11 Russian bonds with a combined market value of over $40 billion are part of the EMBI index series, tracked globally by about $412 billion in assets. Some 22 Russian bonds worth just over $99 billion are included in the GBI-EM index series, tracked by some $241 billion globally.

By 【Financial Team – Spark】
News Collection: 文罡
Proofreading: Tracy

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