PBOC conducted a CNY 1 bln 7-day reverse repo today; bid and allotment were CNY 1 bln and the rate was 1.40%, unchanged.

Southern Power Grid says electricity consumption across the nine mainland cities of the Guangdong‑Hong Kong‑Macao Greater Bay Area reached 304.4 bln kWh in 1H 2026, up 8.1% YoY and a period record. Growth concentrated in high‑end manufacturing, digital compute and resilient external trade. Industrial power mix shows a sharp divergence: high‑tech equipment manufacturing electricity rose 8.6% YoY while energy‑intensive sectors fell 4.8%, signalling an accelerated shift from old to new growth drivers. High‑end manufacturing—notably autos, specialised equipment and electronics—now underpins industrial demand. In Guangzhou, auto sector power use increased as NEV output jumped 53.2% YoY in Jan–Jun, lifting lithium‑battery and smart‑vehicle electronics value added by 53.9% and 40.6% respectively, making the new‑energy chain a stabiliser for industrial activity.

1、滬深兩市8月6日總成交量爲2.53萬億，較上日小幅回落，暫時保持在20日均線（2.48萬億）上方，關注能否持續站穩。 2、8月6日衡量A股槓桿水平的融資買入額佔A股流動市值之比升至10.29%，年內一直圍繞着10%波動，但5月以來波動明顯加劇。 -------- 注：1、兩市成交量反映了各大機構、遊資、廣大散戶對A股看法，高於均線代表總成交量升高，市場情緒偏樂觀，低於均線代表總成交量下降，市場情緒降溫。 2、2015年以來，A股槓桿水平大部分時候維持在6%-10%，槓桿率超過10%意味着市場活躍度較高，可能接近或者處於牛市。達到15%以上意味着市場有過熱風險，需要警惕風險。