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 analyzed the changes in margin trading positions of A-share stocks as of Sep 4th. The aggregated net margin trading position is USD353,626m.</li>
<li>We tabulate league tables for top/bottom net long/short of margin trading by value, net margin buy as multiple of ADT.</li>
<li>We highlight net margin buy/sell changes in CHINA MINSHENG BANKING, PING AN INSURANCE, INDUSTRIAL BANK, BANK OF BEIJING, HAOHUA CHEMICAL SCIENCE &amp; TECHNOLOGY.</li>
</ul>


We analyzed the changes in margin trading positions of A-share stocks as of Sep 4th. The aggregated net margin trading position is USD353,626m.
We tabulate league tables for top/bottom net long/short of margin trading by value, net margin buy as multiple of ADT.
We highlight net margin buy/sell changes in CHINA MINSHENG BANKING, PING AN INSURANCE, INDUSTRIAL BANK, BANK OF BEIJING, HAOHUA CHEMICAL SCIENCE &amp; TECHNOLOGY.


A-Share Margin Trading Weekly (Sep 4th): CHINA MINSHENG BANKING, PING AN INSURANCE, INDUSTRIAL BANK

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

Cross Asset Strategy

<ul><li>Law /In Depth: Why fewer criminal appeals cases are getting heard in China</li><li>BRICS /: BRICS invites six nations to join as expansion moves into focus</li><li>Nuclear /: China suspends imports of all Japanese aquatic products</li></ul>

Law /In Depth: Why fewer criminal appeals cases are getting heard in ChinaBRICS /: BRICS invites six nations to join as expansion moves into focusNuclear /: China suspends imports of all Japanese aquatic products

CX Daily: Why Fewer Criminal Appeals Cases Are Getting Heard in China

Research and consultancy, Tabbush Report

Daniel Tabbush

Research and consultancy

Tabbush Report

We provide research and consultancy on Asian banks. Our focus is on what we call “Asian bank research, without the noise.” We are interested in the most critical swing-factors for banks, the NPL and credit cycle, and where we believe there is a gap between perception and reality. We often focus on the less studied components of bank financial statements.  Our research is highly thematic, sometimes examining unlisted banks and companies as a window on mainstream banks. 

Being independent allows us to look at smaller banks, often overlooked by others. Analysis of BIS bank guidelines in the context of Asia, is also a focal point, while we also analyze global banks operating in the region. We use what we believe is the most comprehensive, reliable financials database, SNL Financial. S&P Capital IQ augments our database, with corporate data and CEIC, with economics. 

Asian bank research, without the noise.

Thematic (Sector/Industry)

<p>It is not likely that China’s banks will fully conceal the impact of the crisis. Even if there is some forbearance, we would expect some flow through in the numbers. This can take many forms including lower asset yields, lesser fee income and oversized credit growth. Even with credit costs, bad loans or special mention loans, we are doubtful of a complete white-wash. Part of this is also due to the more strict and onerous bank and accounting regulations now compared with the past. </p>

It is not likely that China’s banks will fully conceal the impact of the crisis. Even if there is some forbearance, we would expect some flow through in the numbers. This can take many forms including lower asset yields, lesser fee income and oversized credit growth. Even with credit costs, bad loans or special mention loans, we are doubtful of a complete white-wash. Part of this is also due to the more strict and onerous bank and accounting regulations now compared with the past. 

China Banks – Do Not Expect Full Concealment of Crisis

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.

<ul>
<li>We analysed the earning revision of component stocks of CSI 300 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 Xinjiang Daqo, TONGWEI, SERES, CHINA VANKE, Wuliangye, YONYOU NETWORK TECHNOLOGY, BANK OF BEIJING, CSSC.</li>
</ul>


We analysed the earning revision of component stocks of CSI 300 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 Xinjiang Daqo, TONGWEI, SERES, CHINA VANKE, Wuliangye, YONYOU NETWORK TECHNOLOGY, BANK OF BEIJING, CSSC.


CSI 300 Index Earning Revision (May): Xinjiang Daqo, TONGWEI, SERES, CHINA VANKE, Wuliangye, CSSC

<p>While only few of China’s banks have reported 1Q19 results, there is a discernable pattern suggestive of worsening credit metrics. We also must recognize that any IFRS 9 distortions during last year when comparing with the year before, will not be a feature of numbers in 1Q19 or any future quarters. Anecdotally we know there is a worsening in credit conditions, with a recent press article well highlighting rising cross-defaults in China (<a href="https://www.scmp.com/economy/china-economy/article/3007516/china-economy-faces-threat-obscure-financial-tool-could" target="_blank">See SCMP on 25 April</a>). This will show up in bank's reported figures, if not in higher NPLs, at least in terms of higher credit costs. </p>

While only few of China’s banks have reported 1Q19 results, there is a discernable pattern suggestive of worsening credit metrics. We also must recognize that any IFRS 9 distortions during last year when comparing with the year before, will not be a feature of numbers in 1Q19 or any future quarters. Anecdotally we know there is a worsening in credit conditions, with a recent press article well highlighting rising cross-defaults in China (See SCMP on 25 April). This will show up in bank's reported figures, if not in higher NPLs, at least in terms of higher credit costs. 

China

Bank of Beijing Company Ltd. attracts deposits and offers commercial banking services.  The Bank offers short-, medium- and long-term loans, insurance, foreign exchange, international settlement, government bonds, and other products and services.

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

Bank Of Beijing Co Ltd A (601169 CH)

CX Daily: Why Fewer Criminal Appeals Cases Are Getting Heard in China

Law /In Depth: Why fewer criminal appeals cases are getting heard in China BRICS /: BRICS invites six nations to join as expansion moves into...

Caixin Global

China Banks – Do Not Expect Full Concealment of Crisis

It is not likely that China’s banks will fully conceal the impact of the crisis. Even if there is some forbearance, we would expect some flow...

Daniel Tabbush

CSI 300 Index Earning Revision (May): Xinjiang Daqo, TONGWEI, SERES, CHINA VANKE, Wuliangye, CSSC

We analyzed CSI 300's consensus for May 2026 and highlighted changes of EPS in Xinjiang Daqo, TONGWEI, SERES, CHINA VANKE, Wuliangye, YONYOU...

Ke Yan, CFA, FRM

China Banks - A Pattern

While only few of China’s banks have reported 1Q19 results, there is a discernable pattern suggestive of worsening credit metrics. We also must...

Daniel Tabbush

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

A-Share Margin Trading Weekly (Sep 4th): CHINA MINSHENG BANKING, PING AN INSURANCE, INDUSTRIAL BANK

We analyzed A-share margin trading positions report for the past week and highlighted CHINA MINSHENG BANKING, PING AN INSURANCE, INDUSTRIAL BANK,...

Ke Yan, CFA, FRM

CX Daily: Why Fewer Criminal Appeals Cases Are Getting Heard in China

Law /In Depth: Why fewer criminal appeals cases are getting heard in China BRICS /: BRICS invites six nations to join as expansion moves into...

Caixin Global

China Banks – Do Not Expect Full Concealment of Crisis

It is not likely that China’s banks will fully conceal the impact of the crisis. Even if there is some forbearance, we would expect some flow...

Daniel Tabbush

CSI 300 Index Earning Revision (May): Xinjiang Daqo, TONGWEI, SERES, CHINA VANKE, Wuliangye, CSSC

We analyzed CSI 300's consensus for May 2026 and highlighted changes of EPS in Xinjiang Daqo, TONGWEI, SERES, CHINA VANKE, Wuliangye, YONYOU...

Ke Yan, CFA, FRM

China Banks - A Pattern

While only few of China’s banks have reported 1Q19 results, there is a discernable pattern suggestive of worsening credit metrics. We also must...

Daniel Tabbush