Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Thematic (Sector/Industry)

<p><em>An H/A Spread Monitor Project offering a brief look at recent changes in H-Share and A-Share spreads, Southbound flow and impact, and where the spreads are trading within their own historical ranges.</em></p>
<div>
<h2>The Nitty-Gritty Details Follow</h2>
</div>
<p>There are five sets of data for now:<br>1.   HK-Shanghai Connect Southbound Turnover and Net Buying vs Indices and HKEx Turnover<br>2.   Top 20 Net Southbound buys and sells over the last 5 days<br>3.   H-Share/A-Share Discounts, Changes in Discount over 1 and 4 wks, Changes in Southbound Flow<br>4.   Southbound Flow as a % of Volume and Float on All Eligible Stocks<br>5.   H-Share/A-Share Sector Discount Ranges and Averages Charted Over the Last 12 months </p>
<div>
<h2>Historical Southbound Flows:  Outright &amp; vs HKEx Turnover</h2>
</div>
<p>Net Southbound flows continue to be somewhat lacklustre. November was negative after a couple of positive months. December so far is very mildly positive. Northbound had been strongly positive for months, but say RMB 5.8bn of outflows in October only to rebound to RMB +32.5bn in November. So far this month, NB is positive too.</p>
<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/073/004/original/Screenshot%202018-12-12%20at%207.33.34%20PM.png?1544614446" class="editor-image img-responsive" data-smartkarma-image-id="73004"></figure>
<div style="text-align: left;" class="content-caption">data source: capitalIQ, HKEx, calculations Travis Lundy</div>

An H/A Spread Monitor Project offering a brief look at recent changes in H-Share and A-Share spreads, Southbound flow and impact, and where the spreads are trading within their own historical ranges.

The Nitty-Gritty Details Follow

There are five sets of data for now: 1.   HK-Shanghai Connect Southbound Turnover and Net Buying vs Indices and HKEx Turnover 2.   Top 20 Net Southbound buys and sells over the last 5 days 3.   H-Share/A-Share Discounts, Changes in Discount over 1 and 4 wks, Changes in Southbound Flow 4.   Southbound Flow as a % of Volume and Float on All Eligible Stocks 5.   H-Share/A-Share Sector Discount Ranges and Averages Charted Over the Last 12 months 

Historical Southbound Flows:  Outright &amp; vs HKEx Turnover

Net Southbound flows continue to be somewhat lacklustre. November was negative after a couple of positive months. December so far is very mildly positive. Northbound had been strongly positive for months, but say RMB 5.8bn of outflows in October only to rebound to RMB +32.5bn in November. So far this month, NB is positive too.

data source: capitalIQ, HKEx, calculations Travis Lundy

Quiddity Weekly H/A: Spread & Southbound Monitor - Going Into Year End

China

China Lesso Group Holdings Limited manufactures home building materials. The Company produces plumbing products, holistic kitchen materials, PVC doors and window profiles, sanitary ware, and other related products. China Lesso offers its products around the world.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

China Lesso Group Holdings (2128 HK)

Quiddity Weekly H/A: Spread & Southbound Monitor - Going Into Year End

An H/A Spread Monitor Project offering a brief look at recent changes in H-Share and A-Share spreads, Southbound flow and impact, and where the...

Travis Lundy

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)