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 monthly Hong Kong Connect flows with our data engine.</li>
<li>We tabulate the top stocks by inflows, outflows, and holding by mainland investors.</li>
<li>We highlight inflows into Alibaba, Tencent, Xiaomi, CCB, Ping An, and outflows from PICC P&amp;C, BYD, CNOOC.</li>
</ul>


We analyze the monthly Hong Kong Connect flows with our data engine.
We tabulate the top stocks by inflows, outflows, and holding by mainland investors.
We highlight inflows into Alibaba, Tencent, Xiaomi, CCB, Ping An, and outflows from PICC P&amp;C, BYD, CNOOC.


Hong Kong Connect Flows (November): Top Monthly Inflows in 12 Months

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>Put trading was heavy in the Financial sector this week. ICBC and Bank of China were the main contributors to that with 73% and 63% of their volume in Puts.</li>
<li>ANTA Sports Products had a notable pick up in Call activity this past week as the stock bounces around 3 year lows vs the Hang Seng index (graph at bottom)</li>
<li>Energy and Real Estate sectors might be the best area to look for low vol opportunities.</li>
</ul>


Put trading was heavy in the Financial sector this week. ICBC and Bank of China were the main contributors to that with 73% and 63% of their volume in Puts.
ANTA Sports Products had a notable pick up in Call activity this past week as the stock bounces around 3 year lows vs the Hang Seng index (graph at bottom)
Energy and Real Estate sectors might be the best area to look for low vol opportunities.


EQD | Hong Kong Single Stock Options Weekly Nov 25-29

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

Equity Capital Markets

Kioxia Holdings  / Equity Capital Markets

<ul>
<li>Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.</li>
<li>On the IPOs front, listing in the past week didn't do much, while a number of comapnies are still looking to beat the year end deadline.</li>
<li>On the placements front, there were a number of secondary selldowns in Japan.</li>
</ul>


Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.
On the IPOs front, listing in the past week didn't do much, while a number of comapnies are still looking to beat the year end deadline.
On the placements front, there were a number of secondary selldowns in Japan.


ECM Weekly (2nd Dec 2024) - Kioxia, FineToday, MNC Solutions, JST, Pateo, Carraro, Hulic, Sanrio

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of Nov 22nd.</li>
<li>Top short increases and decreases were tabulated for one week and four week period. </li>
<li>We highlight short changes in Kuaishou Technology, Jd.com, Xpeng, CMB.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Nov 22nd.
Top short increases and decreases were tabulated for one week and four week period. 
We highlight short changes in Kuaishou Technology, Jd.com, Xpeng, CMB.


HK Short Interest Weekly: Kuaishou, Jd, Xpeng, CMB

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Index Rebalance

<ul>
<li>The December rebalance of the <a href="https://www.smartkarma.com/entities/kraneshares-csi-china-internet-etf" target="_blank" data-smartkarma-citation="entities:28208:1" rel="noopener">KraneShares CSI China Internet ETF (KWEB US)</a> will take place at the close of trading on 13 December.</li>
<li>
<a href="https://www.smartkarma.com/entities/cloud-village-inc" target="_blank" data-smartkarma-citation="entities:33412:1" rel="noopener">Cloud Village (9899 HK)</a> is an add while <a href="https://www.smartkarma.com/entities/lufax-holding-ltd" target="_blank" data-smartkarma-citation="entities:29690:1" rel="noopener">Lufax Holding (LU US)</a>, <a href="https://www.smartkarma.com/entities/ping-an-healthcare-and-technology-company-limited" target="_blank" data-smartkarma-citation="entities:27008:1" rel="noopener">Ping An Healthcare and Technology (1833 HK)</a>, <a href="https://www.smartkarma.com/entities/zx-inc" target="_blank" data-smartkarma-citation="entities:36624:1" rel="noopener">ZX (9890 HK)</a> and <a href="https://www.smartkarma.com/entities/ysb-inc" target="_blank" data-smartkarma-citation="entities:35982:1" rel="noopener">YSB (9885 HK)</a> are deletes.</li>
<li>The deletions of <a href="https://www.smartkarma.com/entities/ping-an-healthcare-and-technology-company-limited" target="_blank" data-smartkarma-citation="entities:27008:1" rel="noopener">Ping An Healthcare (1833 HK)</a>, <a href="https://www.smartkarma.com/entities/zx-inc" target="_blank" data-smartkarma-citation="entities:36624:1" rel="noopener">ZX (9890 HK)</a> and <a href="https://www.smartkarma.com/entities/ysb-inc" target="_blank" data-smartkarma-citation="entities:35982:1" rel="noopener">YSB (9885 HK)</a> were forecast and there will be positioning in the stocks. <a href="https://www.smartkarma.com/entities/lufax-holding-ltd" target="_blank" data-smartkarma-citation="entities:29690:1" rel="noopener">Lufax</a> was a close delete.</li>
</ul>


The December rebalance of the KraneShares CSI China Internet ETF (KWEB US) will take place at the close of trading on 13 December.

Cloud Village (9899 HK) is an add while Lufax Holding (LU US), Ping An Healthcare and Technology (1833 HK), ZX (9890 HK) and YSB (9885 HK) are deletes.
The deletions of Ping An Healthcare (1833 HK), ZX (9890 HK) and YSB (9885 HK) were forecast and there will be positioning in the stocks. Lufax was a close delete.


KWEB Index Rebalance: 1 Add & 4 Deletes in December

China

Tencent Holdings Limited operates as an investment holding company. The Company, through its subsidiaries, provides Internet and mobile value-added services (VAS), online advertising, and e-commerce transactions. Tencent Holdings offers services to users worldwide.

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

Tencent (700 HK)

Hong Kong Connect Flows (November): Top Monthly Inflows in 12 Months

We analyzed the Hong Kong Connect Scheme for November and highlighted flows for Alibaba, Tencent, Xiaomi, CCB, Ping An, PICC P&C, BYD, CNOOC.

Ke Yan, CFA, FRM

EQD | Hong Kong Single Stock Options Weekly Nov 25-29

Heavy put trading in Financial sector, with ICBC and Bank of China leading. ANTA Sports sees increase in call activity. Energy and Real Estate...

John Ley

ECM Weekly (2nd Dec 2024) - Kioxia, FineToday, MNC Solutions, JST, Pateo, Carraro, Hulic, Sanrio

Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.

Sumeet Singh

HK Short Interest Weekly: Kuaishou, Jd, Xpeng, CMB

We analyzed the latest HK SFC report for aggregate short position as of Nov 22nd and highlight short interest changes in Kuaishou, Jd, Xpeng, CMB.

Ke Yan, CFA, FRM

KWEB Index Rebalance: 1 Add & 4 Deletes in December

Cloud Village is an add while Lufax, Ping An Health, ZX and YSB are deletes. There will be capping flow for the large caps. Couple of surprises...

Brian Freitas

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Hong Kong Connect Flows (November): Top Monthly Inflows in 12 Months

We analyzed the Hong Kong Connect Scheme for November and highlighted flows for Alibaba, Tencent, Xiaomi, CCB, Ping An, PICC P&C, BYD, CNOOC.

Ke Yan, CFA, FRM

EQD | Hong Kong Single Stock Options Weekly Nov 25-29

​Heavy put trading in Financial sector, with ICBC and Bank of China leading. ANTA Sports sees increase in call activity. Energy and Real Estate...

John Ley

ECM Weekly (2nd Dec 2024) - Kioxia, FineToday, MNC Solutions, JST, Pateo, Carraro, Hulic, Sanrio

Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.

Sumeet Singh

HK Short Interest Weekly: Kuaishou, Jd, Xpeng, CMB

We analyzed the latest HK SFC report for aggregate short position as of Nov 22nd and highlight short interest changes in Kuaishou, Jd, Xpeng, CMB.

Ke Yan, CFA, FRM

KWEB Index Rebalance: 1 Add & 4 Deletes in December

Cloud Village is an add while Lufax, Ping An Health, ZX and YSB are deletes. There will be capping flow for the large caps. Couple of surprises...

Brian Freitas

Heavy put trading in Financial sector, with ICBC and Bank of China leading. ANTA Sports sees increase in call activity. Energy and Real Estate...