Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analysed the earning revision of component stocks of HSI in the past month.</li>
<li>We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.</li>
<li>We highlighted EPS revision on ICBC, MEITUAN, BYD Electronic, LI AUTO, XIAOMI, CCB, Kuaishou.</li>
</ul>


We analysed the earning revision of component stocks of HSI in the past month.
We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.
We highlighted EPS revision on ICBC, MEITUAN, BYD Electronic, LI AUTO, XIAOMI, CCB, Kuaishou.


HSI Index Earning Revision (May): ICBC, MEITUAN, BYD Electronic, LI AUTO, XIAOMI, CCB, Kuaishou

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Reportedly, <a href="https://www.smartkarma.com/entities/ck-hutchison-holdings-ltd" target="_blank" data-smartkarma-citation="entities:132:1" rel="noopener">CK Hutchison (1 HK)</a> is exploring a dual-listing of AS Watson (Hong Kong &amp; London) in the second half of this year.</li>
<li>AS Watson reported FY25 revenue and EBITDA of HK$209bn and HK$18.2bn. A US$30bn valuation is touted, or ~13x turns of EBITDA.</li>
<li>Elsewhere, CKH is exploring listing its European telcos; talks remain ongoing regarding the sale of ex-China/Panama ports; and potentially merging Park N Shop with <a href="https://www.smartkarma.com/entities/dfi-retail-group-holdings-limited" target="_blank" data-smartkarma-citation="entities:7427:1" rel="noopener">DFI Retail Group (DFI SP)</a>'s Wellcome.</li>
</ul>


Reportedly, CK Hutchison (1 HK) is exploring a dual-listing of AS Watson (Hong Kong &amp; London) in the second half of this year.
AS Watson reported FY25 revenue and EBITDA of HK$209bn and HK$18.2bn. A US$30bn valuation is touted, or ~13x turns of EBITDA.
Elsewhere, CKH is exploring listing its European telcos; talks remain ongoing regarding the sale of ex-China/Panama ports; and potentially merging Park N Shop with DFI Retail Group (DFI SP)'s Wellcome.


CK Hutch (1 HK): Assets Sales And Listings Abound. This Is A Buy

CEO, A. Stotz Investment Research

Dr. Andrew Stotz, CFA

Quantamental Investing to beat Benchmarks

A. Stotz Investment Research

We pick stocks. We construct portfolios. All our effort is focused on how to better pick stocks and construct portfolios. We serve fund management companies, family offices, and high net worth individuals.

Thematic (Sector/Industry)

We highlight 15 stocks in Asia that look interesting to us based upon our FVMR Methodology. Our research team constantly reviews the Asian markets to try to find interesting ideas based on Fundamentals or Valuation or Momentum or Risk or some combination thereof.

We highlight 15 stocks in Asia that look interesting to us based upon our FVMR Methodology. Our research team constantly reviews the Asian markets to try to find interesting ideas based on Fundamentals or Valuation or Momentum or Risk or some combination thereof.

Interesting Stocks to Consider in Asia, Vol. 2

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

Today’s report is a bottom-up compilation of technically attractive EAFE stocks, with one fundamental kicker: each name is accompanied by positive momentum in their FY EPS estimates.  While the list is broad-based, metals &amp; miners and energy-related names are most prevalent.

Today’s report is a bottom-up compilation of technically attractive EAFE stocks, with one fundamental kicker: each name is accompanied by positive momentum in their FY EPS estimates.  While the list is broad-based, metals &amp; miners and energy-related names are most prevalent.

Technically Attractive EAFE Stocks, with Positive EPS Momentum

<ul>
<li>
<a href="https://www.smartkarma.com/entities/ck-hutchison-holdings-ltd" target="_blank" data-smartkarma-citation="entities:132:1" rel="noopener">CK Hutchison (1 HK)</a>'s arbitration - with the Panama government AND Maersk - continues, with China's full backing, over the (ostensibly) illegal confiscation of the Balboa and Cristobal ports. </li>
<li>Elsewhere, ongoing divestments are further stacking CKH's cash pile, a development not lost on the three key rating agencies.</li>
<li>And CKH's 16.7% stake in <a href="https://www.smartkarma.com/entities/cenovus-energy-inc-0528db43-4e16-4d42-8ab6-6a0bf8bb767e" target="_blank" data-smartkarma-citation="entities:27961:1" rel="noopener">Cenovus Energy (CVE US)</a>, already a strong cashflow generator, is a key standout from the ongoing Iran situation.  </li>
</ul>



CK Hutchison (1 HK)'s arbitration - with the Panama government AND Maersk - continues, with China's full backing, over the (ostensibly) illegal confiscation of the Balboa and Cristobal ports. 
Elsewhere, ongoing divestments are further stacking CKH's cash pile, a development not lost on the three key rating agencies.
And CKH's 16.7% stake in Cenovus Energy (CVE US), already a strong cashflow generator, is a key standout from the ongoing Iran situation.  


CK Hutch (1 HK): The Optics Are Looking Favourable

Hong Kong

CK Infrastructure is a global infrastructure company with diversified investments in energy, transportation, water, and waste management sectors. It also produces construction materials like cement and asphalt. The company was founded in 1996 and is headquartered in Central, Hong Kong.

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CK Infrastructure (1038 HK)

HSI Index Earning Revision (May): ICBC, MEITUAN, BYD Electronic, LI AUTO, XIAOMI, CCB, Kuaishou

We analyzed HSI's consensus for May 2026 and highlighted changes of EPS in ICBC, MEITUAN, BYD Electronic, LI AUTO, XIAOMI, CCB, Kuaishou.

Ke Yan, CFA, FRM

CK Hutch (1 HK): Assets Sales And Listings Abound. This Is A Buy

A ~47% disc. to NAV & fwd P/B of 0.46x, CKH is inexpensive. Assets sales (ports, telcos, utility, supermarkets) ongoing and purported; plus...

David Blennerhassett

Interesting Stocks to Consider in Asia, Vol. 2

We highlight 15 stocks in Asia that look interesting to us based upon our FVMR Methodology. Our research team constantly reviews the Asian markets...

A. Stotz Investment Research

Technically Attractive EAFE Stocks, with Positive EPS Momentum

Today’s report is a bottom-up compilation of technically attractive EAFE stocks, with one fundamental kicker: each name is accompanied by positive...

Vermilion Research

CK Hutch (1 HK): The Optics Are Looking Favourable

Two media articles have now appeared this week, concerning CKH. The first concerns China Merchants reportedly joining a consortium (including...

David Blennerhassett

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