Equity Derivatives and Volatility Specialist, Clifton Derivatives

John Ley

Equity Derivatives and Volatility Specialist

Clifton Derivatives

Independent derivative and volatility research firm focusing on events/catalysts, earnings, relative value and cross asset volatility strategies.

Equity Derivatives

<ul>
<li>A weekly recap of volatility and price metrics, covering option volumes, volatility trends, the spot/implied relationship, and open interest statistics</li>
<li>Implied vol softened this week—we examine the trend and its potential implications.</li>
<li>HSI’s performance vs. SP500 is highlighted against a backdrop of tariffs and global shifts.</li>
</ul>


A weekly recap of volatility and price metrics, covering option volumes, volatility trends, the spot/implied relationship, and open interest statistics
Implied vol softened this week—we examine the trend and its potential implications.
HSI’s performance vs. SP500 is highlighted against a backdrop of tariffs and global shifts.


HSI Index Options Weekly (Mar 24-28): Volatility Softens as HSI Takes a Breather

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Quantitative Analysis

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of March 28th.</li>
<li>The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.</li>
<li>We highlight flows for Xiaomi, CMB, Meituan, Ke, Li Auto, Tencent, BYD Electronic, SMIC, HKEx, Alibaba.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of March 28th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Xiaomi, CMB, Meituan, Ke, Li Auto, Tencent, BYD Electronic, SMIC, HKEx, Alibaba.


HK Connect Flows Weekly (Mar 28th): Xiaomi, CMB, Meituan, Ke, Li Auto, Tencent, BYD Electronic, SMIC

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of Mar 21st.</li>
<li>Top short increases and decreases were tabulated for one week and four week period. </li>
<li>We highlight short changes in Trip.Com, Zto Express, Wuxi Apptec, Anta Sports, Midea.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Mar 21st.
Top short increases and decreases were tabulated for one week and four week period. 
We highlight short changes in Trip.Com, Zto Express, Wuxi Apptec, Anta Sports, Midea.


HK Short Interest Weekly: Trip.Com, Zto Express, Wuxi Apptec, Anta Sports, Midea

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/nio-inc-2d526675-c878-4104-840f-87fed1735e85" target="_blank" data-smartkarma-citation="entities:35652:1" rel="noopener">NIO (9866 HK)</a> is looking to raise around US$450m via a primary placement in Hong Kong.</li>
<li>The shares haven’t done much this year or ever since they were listed.</li>
<li>In this note, we will talk about the placement and run the deal through our ECM framework.</li>
</ul>



NIO (9866 HK) is looking to raise around US$450m via a primary placement in Hong Kong.
The shares haven’t done much this year or ever since they were listed.
In this note, we will talk about the placement and run the deal through our ECM framework.


NIO HK Placement - Lots of Reasons to Avoid and Only One to Invest

Senior Credit Analyst, Lucror Analytics

Leonard Law, CFA

Senior Credit Analyst

High Yield Experts

Lucror Analytics

Lucror Analytics is a leading credit and ESG research specialist and a provider of technology solutions for differentiated fixed income strategies. Our roots are in bottom-up fundamental credit analysis with a specialization in high yield corporate credits from Europe, Asia and Latin America. We are one of few research specialists integrating ESG considerations with fundamental credit research through a dedicated ESG platform. Our ESG assessment covers five key criteria: Disclosure, E,S, & G Pillars, Controversies, ESG Impact on Credit and ESG Momentum.

Recognizing the importance and value-add of Factor Investing in fixed income, Lucror developed the Smart Quant Navigator (SQN), an intuitive platform that helps clients devise and implement factor-based strategies ranging from pure quant to active fundamental, with integrated ESG.

Our company has been at the forefront of developments in the fixed income markets, identifying opportunities and consistently delivering new products and value-adding solutions to clients. Lucror has close relationships with the largest and most reputable asset managers, family offices, hedge funds, investment and wealth managers globally.

Credit

<ul>
<li>In today's Morning Views publication we comment on developments of the following high yield issuers: China Water Affairs, Xiaomi Corp, Nickel Industries</li>
<li>In the US, Atlanta Fed President Raphael Bostic said he anticipates only one interest rate cut this year, as he now thinks “we’re going to see inflation be very bumpy and not move dramatically and in a clear way to the 2% target”.</li>
<li>Mr Bostic currently projects that inflation will return to the central bank's 2% target at some point in early 2027, in line with the Fed's projections published last week.</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: China Water Affairs, Xiaomi Corp, Nickel Industries
In the US, Atlanta Fed President Raphael Bostic said he anticipates only one interest rate cut this year, as he now thinks “we’re going to see inflation be very bumpy and not move dramatically and in a clear way to the 2% target”.
Mr Bostic currently projects that inflation will return to the central bank's 2% target at some point in early 2027, in line with the Fed's projections published last week.


China

Xiaomi Corporation manufactures communication equipment and parts. The Company produces and sells mobile phones, smart phone software,  set-top boxes, and related accessories. Xiaomi markets its products worldwide.

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

HSI Index Options Weekly (Mar 24-28): Volatility Softens as HSI Takes a Breather

This Insight provides a weekly analysis of volatility trends, option volumes, and the relationship between spot and implied prices.

John Ley

HK Connect Flows Weekly (Mar 28th): Xiaomi, CMB, Meituan, Ke, Li Auto, Tencent, BYD Electronic, SMIC

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Xiaomi, CMB, Meituan, Ke, Li Auto, Tencent, BYD...

Ke Yan, CFA, FRM

HK Short Interest Weekly: Trip.Com, Zto Express, Wuxi Apptec, Anta Sports, Midea

We analyzed the latest HK SFC report for aggregate short position as of Mar 21st and highlight short interest changes in Trip.Com, Zto Express,...

Ke Yan, CFA, FRM

NIO HK Placement - Lots of Reasons to Avoid and Only One to Invest

NIO (9866 HK) is looking to raise around US$450m via a primary placement in Hong Kong. In this note, we talk about the deal dynamics.

Sumeet Singh

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: China Water Affairs, Xiaomi Corp, Nickel...

Lucror Analytics

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

HSI Index Options Weekly (Mar 24-28): Volatility Softens as HSI Takes a Breather

​This Insight provides a weekly analysis of volatility trends, option volumes, and the relationship between spot and implied prices.

John Ley

HK Connect Flows Weekly (Mar 28th): Xiaomi, CMB, Meituan, Ke, Li Auto, Tencent, BYD Electronic, SMIC

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Xiaomi, CMB, Meituan, Ke, Li Auto, Tencent, BYD...

Ke Yan, CFA, FRM

HK Short Interest Weekly: Trip.Com, Zto Express, Wuxi Apptec, Anta Sports, Midea

We analyzed the latest HK SFC report for aggregate short position as of Mar 21st and highlight short interest changes in Trip.Com, Zto Express,...

Ke Yan, CFA, FRM

NIO HK Placement - Lots of Reasons to Avoid and Only One to Invest

NIO (9866 HK) is looking to raise around US$450m via a primary placement in Hong Kong. In this note, we talk about the deal dynamics.

Sumeet Singh

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: China Water Affairs, Xiaomi Corp, Nickel...

Lucror Analytics

This Insight provides a weekly analysis of volatility trends, option volumes, and the relationship between spot and implied prices.