2. SFCs response to US Treasury: it has never prevented CPA firms from providing audit papers to overseas regulators
Recently, the U.S. Treasury Department released the report of the presidents financial market working group on protecting American investors from major risks of Chinese companies on its official website.
The SFC said that since 2019, the Chinese regulatory authorities have communicated with the US Securities Regulatory Commission (SEC) and the public company accounting oversight board (PCAOB) on the joint inspection scheme for accounting firms on many occasions, showing full cooperation sincerity. Recently, on August 4, 2020, the Chinese regulatory authorities sent an updated proposal to PCAOB according to the latest needs and ideas of the US side. We believe that resolving issues of common concern through dialogue is the only way to achieve win-win results for both sides. Only in this way can we create a good environment for the healthy and orderly operation of the global capital market.
It should be noted that the Chinese side has never prohibited or prevented relevant accounting firms from providing audit working papers to overseas regulators. As mentioned in the US report, Chinas securities regulatory authorities have so far provided US securities regulators with audit working papers of a number of Chinese companies listed in the United States. We believe that the essence of Chinese laws and regulations is that the exchange of information such as audit working papers should be conducted through regulatory cooperation channels, which is a common practice in line with international practice.
3. The central bank sets monetary policy twice a week and reflects on low interest rate risk in the second quarter report
On August 6, the central bank issued the second quarter of 2020 monetary policy implementation report (hereinafter referred to as the report) that the next step of prudent monetary policy is more flexible, moderate and accurate, and maintain the reasonable growth of money supply and social financing scale; it is necessary to strengthen the pertinence and timeliness, and grasp the strength, rhythm and operation of monetary policy according to the epidemic prevention and control and economic and financial situation The key point is to put the support of real economy recovery and sustainable development in a more prominent position, comprehensively use and innovate a variety of monetary policy tools, maintain reasonable and sufficient liquidity, dredge the monetary policy transmission mechanism, effectively play the precise drip irrigation role of structural monetary policy tools, and improve the direct access of policies. We will significantly reduce the cost of comprehensive financing and provide favorable conditions for economic development, stabilizing enterprises and ensuring employment.
4. Super new week will continue
From August 10 to August 14, the super new week will continue. According to the data, there will be 18 new shares to be purchased next week, including 3 new shares on the science and technology innovation board, 11 new shares on the growth enterprise market under the registration system and 4 new shares on the main board.
5. CSRC issues IPO approval documents of 4 enterprises
Recently, the China Securities Regulatory Commission (CSRC) has approved the initial applications of the following enterprises in accordance with legal procedures: Shandong Glass Fiber Group Co., Ltd., Shanghai Yanpu metal products Co., Ltd., new Yaqiang silicon Chemical Co., Ltd., and Chongqing Shunbo Aluminum Alloy Co., Ltd. The above-mentioned enterprises and their Underwriters will negotiate with the exchange to determine the issuance schedule and publish the offering documents in succession.
According to the data, the number of restricted shares listed on the Shanghai and Shenzhen stock exchanges this week (August 10-August 14) totaled 2.143 billion shares. Based on the closing price on August 7, the market value was about 58.9 billion yuan, down 64.4% and 34.7% respectively compared with the previous week. Among them, there are 6 companies with more than 100 million shares to be lifted, * ST Hanye (rights protection), HEC resources and micro core biology.
According to a enterprise name declaration and registration announcement issued by the State Administration of market supervision and administration, China Radio and television network Co., Ltd. has applied for registration with the State Administration of market supervision and administration. It is reported that it is planned to complete the relevant asset injection work of all promoters of radio and television before the end of this year. As a matter of fact, since March this year, the legal due diligence, asset evaluation and audit of provincial radio and television 5g platform companies have been carried out. A person in charge of a listed company of the radio and Television Department told the reporter that this can be said to be a lifesaving straw of the radio and Television Department, and also means a huge space. However, the radio and Television Department must build and use the 5g radio and television industry well and create a competitive 5g ecosystem
8. Will the new generation of Apple phones support Beidou navigation?
On the afternoon of August 8, Beijing time, as the only smartphone in the Chinese market that has not yet supported the Beidou satellite navigation system (BDS), Apples iPhone will soon announce its support for BDS. It is reported that Apples new iPhone 12 will start to support Beidou navigation, which has not been supported by previous generations of iPhones.
9. Average daily profit of nearly 300 million dollars! Berkshires cash reserves hit a record high
Berkshire Hathaway, a well-known investor in the United States, announced its second quarter results, with a net profit of 26.3 billion US dollars and an average daily profit of nearly 300 million US dollars, which was much higher than the US $14.1 billion in the same period of last year, with a profit increase of 87%. Berkshire Hathaways current cash reserves are $146.6 billion, a record high. In terms of stock investment, as of the second quarter of 2020, 71% of Berkshire Hathaways stock investment was concentrated in four companies, including apple, Bank of America, Coca Cola and American Express.
10. Tiktok will sue the trump administration as soon as Tuesday
Citing a person directly involved in the upcoming lawsuit but not authorized to speak on behalf of the company, NPR said tiktok would file a federal lawsuit against the trump administration as soon as Tuesday. The lawsuit will be filed in the Federal District Court for the Southern District of California, where tiktoks U.S. operations are based, the person said.
In addition, NPR was informed that the lawsuit would consider the executive order signed by President trump unconstitutional because it did not give the company a chance to respond. According to sources, tiktok also believes that the national security reasons cited by the trump administration in the executive order are groundless.
11. The US novel coronavirus pneumonia is diagnosed with over 5 million people.
The novel coronavirus pneumonia in the United States has reached 5036387 cases in August 9th at 17:35 a.m. Eastern time, and 162851 deaths have been recorded, according to Johns Hopkins University statistics. In the past 24 hours, 53361 new confirmed cases and 670 new deaths occurred in the United States.
How can the market go? This is how securities companies see it
At the same time, for the A-share market trend, a number of securities companies have also made forecasts, lets have a look.
1. Tianfeng strategy: the key words in the second half of the year will be volatility amplification and style rebalancing
Tianfeng Securities believes that the credit flattening in the second half of the year, the uncertainty of the international situation and the breakthrough of the public fund positions will increase the uncertainty of the index. From the perspective of the current industry performance, the market has been previewing a more balanced style, and the subdivision direction with certain profitability or better industry structure will continue to focus on optimistic. The financial, stable and some early cycle plates are in the fourth quarter It is better now.
2. Guotai Junan: the shock pattern is expected to continue, and the relative income of the plate is expected to be expected
Li Shaojun, a strategist at Guotai Junan, said on August 9 that the risk preference for profit recovery hedging went down, and the fund behavior showed that the external impact was weakened, and the shock pattern was expected to continue. The pro cyclical sector has relatively predictable returns, steady consumption, and temporary technological pause. Banks / building materials / machinery / household appliances / automobiles / new energy are recommended. Consumption and medicine still have long-term allocation value. The stress test shows that although the quantile of consumption and medicine valuation is over 95%, the profit expectation contained in the current valuation is not excessively high. From the perspective of the interim report, the fundamental basis of overestimation of consumption and pharmaceutical sector is solid.
3. CITIC Securities: there is a bottom line for external disturbance, and it focuses on three main lines by taking advantage of impact
CITIC Securities pointed out that the recent dispute between China and the United States will not evolve into a systematic risk, and adjustment is the opportunity to enter. It is suggested to focus on three main lines: first, the sectors benefiting from the weak US dollar and rising commodity / energy prices, including gold, non-ferrous metals and chemical industry; second, the optional consumer products benefiting from economic recovery and consumption recovery, including automobiles, household appliances, home furnishings, decoration, brand clothing and leisure services; third, insurance and banks with low absolute valuation.
4. Societe Generale Securities: grasp the long opportunities of the market and suggest balanced allocation of large and small stocks
Societe Generale Securities pointed out that for medium and long-term investors, the market valuation is at a historical low level, suggesting investors to over allocate equity assets; for flexible investors, the medium-term timing view turned optimistic this week, and the long-term and medium-term combined model sent a bullish signal; at the style level, this weeks CSI 300 and gem rotation strategy sent out the signal of balanced allocation of the two sectors u3002 5. Founder strategy: gold is still on the way to a long-term bull market. According to the Research Report of Founder strategy team, monetary attribute is the main logic of gold pricing, which mainly affects the medium and long-term. Commodity and hedging attribute is the secondary logic of gold pricing, which mainly acts on the short term. The increasing instability of global monetary and credit system in a long period is the main driving force of golds rise. In the medium cycle, the monetary policy keynote of the worlds major economies central banks is the main driving force supporting gold prices. In the past 50 years, gold has had two long-term bull markets, and is currently in the third. The first round of downward real interest rate is dominated by inflation, and the second round is dominated by nominal interest rate. Source of this article: Yang Bin, editor in charge of E Company_ NF4368
5. Founder strategy: gold is still on the way to a long-term bull market
According to the Research Report of Founder strategy team, monetary attribute is the main logic of gold pricing, which mainly affects the medium and long term. Commodity and hedging attribute is the secondary logic of gold pricing, which mainly acts on the short term. The increasing instability of global monetary and credit system in a long period is the main driving force of golds rise. In the medium cycle, the monetary policy keynote of the worlds major economies central banks is the main driving force supporting gold prices. In the past 50 years, gold has had two long-term bull markets, and is currently in the third. The first round of downward real interest rate is dominated by inflation, and the second round is dominated by nominal interest rate.