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 MS-China 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 KUNLUN TECH, ICBC, CCB, TENCENT, JD.COM, BOC, MEITUAN, CHONGQING ZHIFEI BIOLOGICAL PRODUCTS.</li>
</ul>


We analysed the earning revision of component stocks of MS-China 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 KUNLUN TECH, ICBC, CCB, TENCENT, JD.COM, BOC, MEITUAN, CHONGQING ZHIFEI BIOLOGICAL PRODUCTS.


MS-China Index Earning Revision (Apr): KUNLUN TECH, ICBC, CCB, TENCENT, JD.COM, BOC, MEITUAN

Doing bespoke work since 2002....., Custom Products Group

Patrick Hansen

Doing bespoke work since 2002.....

Custom Products Group

Custom Products was started 14 years ago at Lehman Brothers by current co-founder Patrick Hansen, CFA. After 3 years at Lehman, Patrick moved the team to Macquarie Securities where Simon Rigney (co-founder) joined. 3 years ago we took Custom Products independent. 

Our core strength can be summed up three words. 1- Customization - we have very little off the shelf products and most work is done on a one on one bespoke basis. 2- Speed - We pride ourselves in our ability to get requests back to the client very quickly. 3- Confidentiality - We do not redistribute. There is no grace period where we wait a week and then mass blast. Any request stops with that client.

Thematic (Sector/Industry)

We looked back over the last month to see which names in Hong Kong had the most Analyst upgrades and downgrades. On the positive side, <a href="https://www.smartkarma.com/entities/175" target="_blank" data-smartkarma-citation="entities:175:1">CNOOC Ltd (883 HK)</a> topped the list with 4 upgrades. 7 names including <a href="https://www.smartkarma.com/entities/45" target="_blank" data-smartkarma-citation="entities:45:1">China Construction Bank H (939 HK)</a> and the <a href="https://www.smartkarma.com/entities/659" target="_blank" data-smartkarma-citation="entities:659:1">Bank Of Communications Co H (3328 HK)</a> had 3 upgrades. 15 names including <a href="https://www.smartkarma.com/entities/1119" target="_blank" data-smartkarma-citation="entities:1119:1">Industrial and Commercial Bank of China (H) (1398 HK)</a> and <a href="https://www.smartkarma.com/entities/1120" target="_blank" data-smartkarma-citation="entities:1120:1">Agricultural Bank Of China Limited (1288 HK)</a> had 2 upgrades. If a company had downgrade over the same period it was…

We looked back over the last month to see which names in Hong Kong had the most Analyst upgrades and downgrades. On the positive side, CNOOC Ltd (883 HK) topped the list with 4 upgrades. 7 names including China Construction Bank H (939 HK) and the Bank Of Communications Co H (3328 HK) had 3 upgrades. 15 names including Industrial and Commercial Bank of China (H) (1398 HK) and Agricultural Bank Of China Limited (1288 HK) had 2 upgrades. If a company had downgrade over the same period it was…

Most Popular / Unpopular Names in Hong Kong....

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.

Other asset growth is surging at China’s banks. It is a line item often associated with assets of limited liquidity, impossible to value, or not easy to fit into a more benign classifications. In the Asian Financial Crisis this was an area of interest: this account included interest in suspense, which was linked to delinquent loans.  Even on a good day, China’s granular data is not wholly clear, so data here is murky. Save to say, that with these so-called other assets now account for more than…

Other asset growth is surging at China’s banks. It is a line item often associated with assets of limited liquidity, impossible to value, or not easy to fit into a more benign classifications. In the Asian Financial Crisis this was an area of interest: this account included interest in suspense, which was linked to delinquent loans.  Even on a good day, China’s granular data is not wholly clear, so data here is murky. Save to say, that with these so-called other assets now account for more than…

Other Assets May Conceal Bad Loans: China

Pan-Asia Tactical Market Calls (Quant-Driven), MRM Research

Nico Rosti

Pan-Asia Tactical Market Calls (Quant-Driven)

MRM Research

Quantitative Research

Equity Derivatives

China Resources Land / Equity Derivatives

<ul>
<li>
<a href="https://www.smartkarma.com/entities/china-resources-land-ltd" target="_blank" data-smartkarma-citation="entities:418:1" rel="noopener">China Resources Land (1109 HK)</a> is among the stocks that will be subject to significant passive selling flows at the end of May, according to recent insights by <a href="https://www.smartkarma.com/profiles/brian-freitas" target="_blank" data-smartkarma-citation="accounts:4091" rel="noopener">Brian Freitas</a> .</li>
<li>
<a href="https://www.smartkarma.com/insights/hk-connect-flows-weekly-apr-30th-alibaba-china-mobile-cnooc-tencent-xiaomi-ccb-cig-shanghai" target="_blank" rel="noopener">Connect flows data</a> posted by <a href="https://www.smartkarma.com/profiles/ke-yan-cfa-frm" target="_blank" data-smartkarma-citation="accounts:9" rel="noopener">Ke Yan</a> suggests mainland investors are quietly rotating out of China Resources Land (1109 HK) ahead of the rebalance, front-running the forced passive selling.  </li>
<li>The stock hasn't visibly broken down yet (5 weeks straight up), our model predicts a high-prob reversal from this week, with support at HK$31.10–30.54 found after 2 weeks.</li>
</ul>



China Resources Land (1109 HK) is among the stocks that will be subject to significant passive selling flows at the end of May, according to recent insights by Brian Freitas .

Connect flows data posted by Ke Yan suggests mainland investors are quietly rotating out of China Resources Land (1109 HK) ahead of the rebalance, front-running the forced passive selling.  
The stock hasn't visibly broken down yet (5 weeks straight up), our model predicts a high-prob reversal from this week, with support at HK$31.10–30.54 found after 2 weeks.


China Resources Land (1109 HK) Tactical Outlook: Passive Selling May Accelerate Now

Independent Insight Provider

Stewart Paterson

IntroductionThere have been three key growth drivers of residential property development in China in my view: 1) The increase in urban population; 2) the increase in living space per person and 3) the upgrading of sub-standard housing.  The result of these three drivers is that private urban residential property development in China has grown in nominal terms from USD300bn in 2008 to USD1.4tr now - a cagr of 21%. Residential property sales in China are now larger than the GDP of Russia or…

IntroductionThere have been three key growth drivers of residential property development in China in my view: 1) The increase in urban population; 2) the increase in living space per person and 3) the upgrading of sub-standard housing.  The result of these three drivers is that private urban residential property development in China has grown in nominal terms from USD300bn in 2008 to USD1.4tr now - a cagr of 21%. Residential property sales in China are now larger than the GDP of Russia or…

Money Matters: Have the Drivers of Residential Property Investment in China Run Their Course?

China

Bank of China is a state-owned Chinese multinational banking and financial services corporation. It offers a comprehensive range of financial services, including corporate banking, personal banking, investment banking, insurance, asset management, and foreign exchange transactions. The company is headquartered in Beijing, China, and was founded in 1912.

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

Bank of China (3988 HK)

MS-China Index Earning Revision (Apr): KUNLUN TECH, ICBC, CCB, TENCENT, JD.COM, BOC, MEITUAN

We analyzed MS-China's consensus for Apr 2026 and highlighted changes of EPS in KUNLUN TECH, ICBC, CCB, TENCENT, JD.COM, BOC, MEITUAN, CHONGQING...

Ke Yan, CFA, FRM

Most Popular / Unpopular Names in Hong Kong....

We looked back over the last month to see which names in Hong Kong had the most Analyst upgrades and downgrades. On the positive side, CNOOC Ltd...

Custom Products Group

Other Assets May Conceal Bad Loans: China

Other asset growth is surging at China’s banks. It is a line item often associated with assets of limited liquidity, impossible to value, or not...

Daniel Tabbush

China Resources Land (1109 HK) Tactical Outlook: Passive Selling May Accelerate Now

China Resources Land (1109 HK) faces significant passive selling flows at the end of May, as mainland investors are already quietly rotating out...

Nico Rosti

Money Matters: Have the Drivers of Residential Property Investment in China Run Their Course?

IntroductionThere have been three key growth drivers of residential property development in China in my view: 1) The increase in urban population;...

Stewart Paterson

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

MS-China Index Earning Revision (Apr): KUNLUN TECH, ICBC, CCB, TENCENT, JD.COM, BOC, MEITUAN

We analyzed MS-China's consensus for Apr 2026 and highlighted changes of EPS in KUNLUN TECH, ICBC, CCB, TENCENT, JD.COM, BOC, MEITUAN, CHONGQING...

Ke Yan, CFA, FRM

Most Popular / Unpopular Names in Hong Kong....

We looked back over the last month to see which names in Hong Kong had the most Analyst upgrades and downgrades. On the positive side, CNOOC Ltd...

Custom Products Group

Other Assets May Conceal Bad Loans: China

Other asset growth is surging at China’s banks. It is a line item often associated with assets of limited liquidity, impossible to value, or not...

Daniel Tabbush

China Resources Land (1109 HK) Tactical Outlook: Passive Selling May Accelerate Now

​China Resources Land (1109 HK) faces significant passive selling flows at the end of May, as mainland investors are already quietly rotating out...

Nico Rosti

Money Matters: Have the Drivers of Residential Property Investment in China Run Their Course?

IntroductionThere have been three key growth drivers of residential property development in China in my view: 1) The increase in urban population;...

Stewart Paterson

China Resources Land (1109 HK) faces significant passive selling flows at the end of May, as mainland investors are already quietly rotating out...