Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

China Longyuan Power Group Corp Ltd designs, develops, manages, and operates wind farms.  The Company also sells the electricity generated by the wind farms.

<ul>
<li>Hs within the liquid AH pair universe UNDER-performed As on average by 0.78% on A-share index rebal week. Beautiful Skew behaved better. H Utilities were bought.</li>
<li>Quiddity H/A Portfolio performance slightly positive (+23bp). Stay the Beautiful Skew course.</li>
<li>The data tables below update on a daily basis in the <a href="https://www.smartkarma.com/tools" target="_blank" rel="noopener">Tools</a> section of Smartkarma. The <a href="https://www.smartkarma.com/tools/quiddity/south-flow-monitor" target="_blank" rel="noopener">Southbound Flow Monitor</a> and <a href="https://www.smartkarma.com/tools/quiddity/ah-shares-monitor" target="_blank" rel="noopener">AH Pairs Monitor</a> are both there - free for all SK readers.</li>
</ul>


Hs within the liquid AH pair universe UNDER-performed As on average by 0.78% on A-share index rebal week. Beautiful Skew behaved better. H Utilities were bought.
Quiddity H/A Portfolio performance slightly positive (+23bp). Stay the Beautiful Skew course.
The data tables below update on a daily basis in the Tools section of Smartkarma. The Southbound Flow Monitor and AH Pairs Monitor are both there - free for all SK readers.


A/H Premium Tracker (Wk to 12 Dec 2025):  Hs Underperform, Beautiful Skew Behaves, Utilities Bought

<ul>
<li>Hs outperformed As on average by 0.99% within the liquid AH pair universe over the past two weeks. Beautiful Skew Behaved Badly.</li>
<li>Quiddity H/A Portfolio performance slightly negative over two weeks, both outright and alpha.</li>
<li>The data tables below update on a daily basis in the <a href="https://www.smartkarma.com/tools" target="_blank" rel="noopener">Tools</a> section of Smartkarma. The <a href="https://www.smartkarma.com/tools/quiddity/south-flow-monitor" target="_blank" rel="noopener">Southbound Flow Monitor</a> and <a href="https://www.smartkarma.com/tools/quiddity/ah-shares-monitor" target="_blank" rel="noopener">AH Pairs Monitor</a> are both there - free for all SK readers.</li>
</ul>


Hs outperformed As on average by 0.99% within the liquid AH pair universe over the past two weeks. Beautiful Skew Behaved Badly.
Quiddity H/A Portfolio performance slightly negative over two weeks, both outright and alpha.
The data tables below update on a daily basis in the Tools section of Smartkarma. The Southbound Flow Monitor and AH Pairs Monitor are both there - free for all SK readers.


A/H Premium Tracker (2wks to 5 Dec 2025):  Hs Outperforming As Slightly But No Beautiful Skew

China Merchants Bank Co., Ltd. operates as a commercial bank. The Company provides deposits, loans, wealth management, asset custody, finance leasing, investment banking, and other banking services. China Merchants Bank conducts businesses domestically and internationally.

<ul>
<li>Hs underperformed As on average by 1.88% within the liquid AH pair universe. Defensive Hs outperform As. Others not.</li>
<li>Nine new recos last week. The one labelled saw H underperform A by 2%. Ouch. 15+ new trades this week.</li>
<li>The data tables below update on a daily basis in the <a href="https://www.smartkarma.com/tools" target="_blank" rel="noopener">Tools</a> section of Smartkarma. The <a href="https://www.smartkarma.com/tools/quiddity/south-flow-monitor" target="_blank" rel="noopener">Southbound Flow Monitor</a> and <a href="https://www.smartkarma.com/tools/quiddity/ah-shares-monitor" target="_blank" rel="noopener">AH Pairs Monitor</a> are both there - free - for all SK readers.</li>
</ul>


Hs underperformed As on average by 1.88% within the liquid AH pair universe. Defensive Hs outperform As. Others not.
Nine new recos last week. The one labelled saw H underperform A by 2%. Ouch. 15+ new trades this week.
The data tables below update on a daily basis in the Tools section of Smartkarma. The Southbound Flow Monitor and AH Pairs Monitor are both there - free - for all SK readers.


A/H Premium Tracker (Week to 21 Nov 2025):  Hs Sharply Underperform As. Year-End Unwinding?

Agricultural Bank Of China / Event-Driven

Agricultural Bank of China Limited provides a full range of commercial banking services. The Banks services includes RMB and foreign currency deposit, loan, international and domestic settlement, bill discount, currency trading, bank guarantee, and treasury bill underwriting.

<ul>
<li>Hs outperformed As on average, slightly, within the AH pair universe. Last week's reco gained vs the A on the week, but not Monday close to Friday. Stay long.</li>
<li>There are nine new recos this week after a bunch of trades were closed last week.</li>
<li>The data tables below update on a daily basis in the <a href="https://www.smartkarma.com/tools" target="_blank" rel="noopener">Tools</a> section of Smartkarma. The <a href="https://www.smartkarma.com/tools/quiddity/south-flow-monitor" target="_blank" rel="noopener">Southbound Flow Monitor</a> and <a href="https://www.smartkarma.com/tools/quiddity/ah-shares-monitor" target="_blank" rel="noopener">AH Pairs Monitor</a> are both there - free - for all SK readers.</li>
</ul>


Hs outperformed As on average, slightly, within the AH pair universe. Last week's reco gained vs the A on the week, but not Monday close to Friday. Stay long.
There are nine new recos this week after a bunch of trades were closed last week.
The data tables below update on a daily basis in the Tools section of Smartkarma. The Southbound Flow Monitor and AH Pairs Monitor are both there - free - for all SK readers.


A/H Premium Tracker (Week to 14 Nov 2025):  Beautiful Skew Still Behaving Badly, SOE Pair Hs Better

China Oilfield Services Limited provides oilfield services. The Company provides geophysical prospecting, drilling, oilfield technology development, and other services. China Oilfield Services also operates transportation businesses.

<ul>
<li>Beautiful Skew still AWOL/MIA. The wider the spread, the worse the result. </li>
<li>Large SOE H vs A generally strong.  Strong net inflow into SOE Hs via SOUTHBOUND.</li>
<li>The data tables below update on a daily basis in the <a href="https://www.smartkarma.com/tools" target="_blank" rel="noopener">Tools</a> section of Smartkarma. The <a href="https://www.smartkarma.com/tools/quiddity/south-flow-monitor" target="_blank" rel="noopener">SOUTHBOUND Flow Monitor</a> and <a href="https://www.smartkarma.com/tools/quiddity/ah-shares-monitor" target="_blank" rel="noopener">AH Pairs Monitor</a> are both there - free - for all SK readers.</li>
</ul>


Beautiful Skew still AWOL/MIA. The wider the spread, the worse the result. 
Large SOE H vs A generally strong.  Strong net inflow into SOE Hs via SOUTHBOUND.
The data tables below update on a daily basis in the Tools section of Smartkarma. The SOUTHBOUND Flow Monitor and AH Pairs Monitor are both there - free - for all SK readers.


A/H Premium Tracker (Week to 7 Nov 2025):  Beautiful Skew Behaving Badly, CNOOC Better

H/A Share Monitor Insights
Track A/H Premium Positioning

A/H Premium Tracker (Wk to 12 Dec 2025): Hs Underperform, Beautiful Skew Behaves, Utilities Bought

A/H premia were slightly higher on the week this past week. Pharmas and Utilities saw Hs outperform. Consumer names, Energy, and Banks saw As...

Travis Lundy

A/H Premium Tracker (2wks to 5 Dec 2025): Hs Outperforming As Slightly But No Beautiful Skew

Hs outperforming As but Beautiful Skew Behaving Badly. SOUTHBOUND flows are net positive but it isn't very orderly. Utilities Hs doing well vs As.

Travis Lundy

A/H Premium Tracker (Week to 21 Nov 2025): Hs Sharply Underperform As. Year-End Unwinding?

Hs underperformed As in the pairs reasonably sharply. Defensive stocks saw Hs outperform somewhat. Looks like the tide is turning here. Lots of new...

Travis Lundy

A/H Premium Tracker (Week to 14 Nov 2025): Beautiful Skew Still Behaving Badly, SOE Pair Hs Better

Hs outperformed As slightly as HK shares outperformed mainland shares. Sectors were mixed. There was no beautiful skew as the widest spreads...

Travis Lundy

A/H Premium Tracker (Week to 7 Nov 2025): Beautiful Skew Behaving Badly, CNOOC Better

Hs rebound vs As in pairs where both trade. SOEs do well. Beautiful skew is not a thing anymore. Absent from the market for weeks, but value...

Travis Lundy