{"id":20924,"date":"2025-12-03T15:05:55","date_gmt":"2025-12-03T07:05:55","guid":{"rendered":"https:\/\/www.orientfutures.com.sg\/?p=20924"},"modified":"2025-12-03T15:16:35","modified_gmt":"2025-12-03T07:16:35","slug":"morning-brief-2025-12-03","status":"publish","type":"post","link":"https:\/\/of.sbwd.website\/zh\/research\/morning-brief-2025-12-03\/","title":{"rendered":"Morning Brief 2025-12-03"},"content":{"rendered":"<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> &lt; 1<\/span> <span class=\"rt-label rt-postfix\">\u5206\u949f<\/span><\/span>\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"20924\" class=\"elementor elementor-20924\" data-elementor-post-type=\"post\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4025ec7 e-con-full e-flex e-con e-parent\" data-id=\"4025ec7\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-945fb5f elementor-widget elementor-widget-text-editor\" data-id=\"945fb5f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div data-ogsc=\"\"><div data-ogsc=\"\"><p><strong>Sector News<\/strong><\/p><p>-The six major state-owned commercial banks have halted the sale of five-year large-denomination certificates of deposit, financial times reported.<\/p><p>-A price adjustment notice drew attention in the lithium battery industry on Dec 2, which suggested that a leading company in the separator sector announced a price adjustment for its wet-process separator products, with an increase of 30%.<\/p><p><strong>Governor\u2019s focus<\/strong><\/p><p>-Zheng Shanjie, Director of the NDRC, published a signed article emphasizing the need to increase the proportion of household income in national income distribution and raise the share of labor compensation in primary distribution.<\/p><p><strong>Data<\/strong><\/p><p>-A-share market recorded 2.38 mn new investor accounts in Nov 2025, up 3% m\/m and the cumulative number of new accounts as of end-Nov reached 24.84 mn, a yoy growth of 7.95%.<\/p><p>-PBoC data shows that in Nov, open market operations resulted in a net injection of 50 bn yuan in treasury bond purchases and sales, a net injection of 100 bn yuan in MLF, a net injection of 25.4 bn yuan in pledged supplementary lending, and a net injection of 115 bn yuan in other structural monetary policy tools.<\/p><p><strong>Dec 2 Block Trade Info<\/strong><\/p><p>*Discount<\/p><p>-Guoguang Commercial Chains (605188 CH) saw 4 block trades worth 47.23mn at 20.99yuan per share, 11.58pct discount from last closing.<\/p><p>-China Securities (601066 CH) saw 1 block trade worth 380.00mn at 24.72yuan per share, 1.98pct discount from last closing.<\/p><p>-Zhongji Innolight (300308 CH) saw 4 block trades worth 182.11mn at 520.32yuan per share, 4.00pct discount from last closing.<\/p><p>-Risuntek (002981 CH) saw 26 block trades worth 81.15mn at 30.00yuan per share, 14.68pct discount from last closing.<\/p><p>*Flat<\/p><p>-Jonhon Optronic Tech (002179 CH) saw 1 block trade worth 99.47mn at 33.72yuan per share, flat from last closing.<\/p><\/div><\/div><p>For more insights, please visit Orient Futures Singapore\u2019s research platform,\u00a0<a href=\"http:\/\/www.finoview.com.sg\/\">\u7e41\u5fae<\/a>.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2604ec3 elementor-widget elementor-widget-button\" data-id=\"2604ec3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/of.sbwd.website\/wp-content\/uploads\/2025\/12\/Morning-Brief-2025-12-03.pdf\" target=\"_blank\" rel=\"nofollow\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Download PDF<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> &lt; 1<\/span> <span class=\"rt-label rt-postfix\">\u5206\u949f<\/span><\/span>The six major state-owned commercial banks have halted the sale of five-year large-denomination certificates of deposit, Financial Times reported.<\/p>","protected":false},"author":3,"featured_media":20927,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"content-type":"","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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