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

Shenton Research

Shenton 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 analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Sep 25th based on HKEx daily reports.</li>
<li>In the past 7 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), Bidu (9888 HK), Xiaomi (1810 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), Bilibili (9626 HK), Bidu (9888 HK).</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Sep 25th based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), Bidu (9888 HK), Xiaomi (1810 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), Bilibili (9626 HK), Bidu (9888 HK).


Hong Kong Buybacks Weekly (Sep 25th): Tencent, Bidu, Xiaomi, Bosideng

Chief Executive Officer, Emmer Capital Partners Limited

Manishi Raychaudhuri

Chief Executive Officer

Emmer Capital Partners Limited

Emmer Capital Partners is an Asia Pacific focused financial advisory firm engaging in strategic financial asset allocation advice, bespoke thematic research and advising early-stage companies and connecting them to investors. Emmer Capital provides macro-economic and multi-asset investment strategy inputs to institutions, family offices, private wealth managers, private equity, and corporate boards directly and through independent research platforms. Emmer Capital also advises a wide range of startup companies on fund raising and business strategy. Emmer Capital's active engagement with the print and electronic media reaches a broad spectrum of investors across the globe.

Cross Asset Strategy

<ul>
<li>From July's recent peak of US$17.3bn, onshore investors' net Southbound buying declined to US$14.3 bn in August. Average daily turnover continued to climb, reaching an all-time high of US$19.8bn.</li>
<li>Buying in Tencent, Xiaomi and Alibaba re-commenced, after selling for 3-4 months. The semiconductor giants - SMIC and Hua Hong - are being bought as well. </li>
<li>Investors' long-standing preferences for e-commerce, food delivery, biotech and dividends continue. Meituan and Kuaishou continue to be bought, despite the recent losses. Akeso, XTALPI and Innovent occupy the biotech space.</li>
</ul>


From July's recent peak of US$17.3bn, onshore investors' net Southbound buying declined to US$14.3 bn in August. Average daily turnover continued to climb, reaching an all-time high of US$19.8bn.
Buying in Tencent, Xiaomi and Alibaba re-commenced, after selling for 3-4 months. The semiconductor giants - SMIC and Hua Hong - are being bought as well. 
Investors' long-standing preferences for e-commerce, food delivery, biotech and dividends continue. Meituan and Kuaishou continue to be bought, despite the recent losses. Akeso, XTALPI and Innovent occupy the biotech space.


Asian Equities: Southbound Monthly - Slowdown in August but Renewed Enthusiasm for Tech Superstars

Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

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CX Daily: Coding Jobs No Longer Sure Thing for U.S.-Educated Chinese 

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CX Daily: Despite Market Rally, Doubts Cloud China’s Plan to End Solar Glut 

<ul>
<li>July’s $17.28 bn inflow through Southbound was almost triple of that of the May low ($5.85bn). The flows are now on track to recovering to the March-April peak of $20-22bn.</li>
<li>Investors continue buying dividend plays (CCB), sharp decliners (Meituan), policy beneficiaries (SMIC). Kuaishou and Alibaba were bought after being sold recently. Biotechnology (Innovent, Akeso) and insurance (ChinaLife) are new favorites.</li>
<li>Expensive consumers and consumer proxies (Pop Mart, Tencent, Xiaomi) continue to be sold. Last three months selling in Xiaomi and Tencent have almost wiped out their cumulative 12 month's buying.</li>
</ul>


July’s $17.28 bn inflow through Southbound was almost triple of that of the May low ($5.85bn). The flows are now on track to recovering to the March-April peak of $20-22bn.
Investors continue buying dividend plays (CCB), sharp decliners (Meituan), policy beneficiaries (SMIC). Kuaishou and Alibaba were bought after being sold recently. Biotechnology (Innovent, Akeso) and insurance (ChinaLife) are new favorites.
Expensive consumers and consumer proxies (Pop Mart, Tencent, Xiaomi) continue to be sold. Last three months selling in Xiaomi and Tencent have almost wiped out their cumulative 12 month's buying.


Asian Equity: Southbound Monthly- July Boom; New Darlings: Insurance, Biotech; Pricey Consumers Sold

China

Xiaomi is a Chinese multinational corporation specializing in consumer electronics and technology, primarily known for its smartphones (Mi, Redmi, POCO series) and a wide range of AIoT (Artificial Intelligence of Things) devices, including smart home products, wearables, and laptops. The company also provides internet services, including its MIUI operating system. Xiaomi was founded in 2010 and is headquartered in Beijing, China.

Price Gauge
52-week Range	0.00 - 0.00
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Xiaomi (1810 HK)

Hong Kong Buybacks Weekly (Sep 25th): Tencent, Bidu, Xiaomi, Bosideng

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Tencent (700 HK),...

Ke Yan, CFA, FRM

Asian Equities: Southbound Monthly - Slowdown in August but Renewed Enthusiasm for Tech Superstars

Southbound buying declined in Aug, but avg daily turnover hit an all-time high. Buying resumed in Tencent, Xiaomi, Alibaba & Hua Hong. Food...

Manishi Raychaudhuri

CX Daily: Coding Jobs No Longer Sure Thing for U.S.-Educated Chinese

Jobs /In Depth: Coding jobs no longer sure thing for U.S.-educated Chinese Commodity/: Hong Kong joins LME’s global delivery system with eight...

Caixin Global

CX Daily: Despite Market Rally, Doubts Cloud China’s Plan to End Solar Glut

Solar / In Depth: Despite market rally, doubts cloud China’s plan to end solar glut Rating /In Depth: China’s scandal-hit credit ratings industry...

Caixin Global

Asian Equity: Southbound Monthly- July Boom; New Darlings: Insurance, Biotech; Pricey Consumers Sold

July Southbound flow nearly tripled from May's low, on track to reach Mar-Apr peak. Investors like dividend plays, policy beneficiaries & recently...

Manishi Raychaudhuri

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Hong Kong Buybacks Weekly (Sep 25th): Tencent, Bidu, Xiaomi, Bosideng

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Tencent (700 HK),...

Ke Yan, CFA, FRM

Asian Equities: Southbound Monthly - Slowdown in August but Renewed Enthusiasm for Tech Superstars

Southbound buying declined in Aug, but avg daily turnover hit an all-time high. Buying resumed in Tencent, Xiaomi, Alibaba & Hua Hong. Food...

Manishi Raychaudhuri

CX Daily: Coding Jobs No Longer Sure Thing for U.S.-Educated Chinese

Jobs /In Depth: Coding jobs no longer sure thing for U.S.-educated Chinese Commodity/: Hong Kong joins LME’s global delivery system with eight...

Caixin Global

CX Daily: Despite Market Rally, Doubts Cloud China’s Plan to End Solar Glut

Solar / In Depth: Despite market rally, doubts cloud China’s plan to end solar glut Rating /In Depth: China’s scandal-hit credit ratings industry...

Caixin Global

Asian Equity: Southbound Monthly- July Boom; New Darlings: Insurance, Biotech; Pricey Consumers Sold

July ​Southbound flow nearly tripled from May's low, on track to reach Mar-Apr peak. Investors like dividend plays, policy beneficiaries & recently...

Manishi Raychaudhuri

July Southbound flow nearly tripled from May's low, on track to reach Mar-Apr peak. Investors like dividend plays, policy beneficiaries & recently...