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 analyse the changes of A-H premium on 146 stocks over the last week. The average A-H premium was 103.8% as of Jun 7th.</li>
<li>The average A-H premium changed by -4.8ppt week-on-week, led by consumer staples, information technology, utilities and offset by consumer discretionary.</li>
<li>We highlight weekly changes in A-H premium for PetroChina, Huadian, Hua Hong Semi, Junshi, GWM.</li>
</ul>


We analyse the changes of A-H premium on 146 stocks over the last week. The average A-H premium was 103.8% as of Jun 7th.
The average A-H premium changed by -4.8ppt week-on-week, led by consumer staples, information technology, utilities and offset by consumer discretionary.
We highlight weekly changes in A-H premium for PetroChina, Huadian, Hua Hong Semi, Junshi, GWM.


A-H Premium Weekly (Jun 7th): PetroChina, Huadian, Hua Hong Semi, Junshi, GWM

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

United Nova Technology   / Index Rebalance

<ul>
<li>There are 3 changes for the <a href="https://www.smartkarma.com/entities/sse-science-and-technology-innovation-board-50-index" target="_blank" data-smartkarma-citation="entities:29279:1" rel="noopener">SSE STAR50 (STAR50 INDEX)</a> and 9 changes for the STAR100 Index. Implementation will take place at the close on 14 June.</li>
<li>
<a href="https://www.smartkarma.com/entities/united-nova-technology-co-ltd" target="_blank" data-smartkarma-citation="entities:40389:1" rel="noopener">United Nova Technology (688469 CH)</a> and <a href="https://www.smartkarma.com/entities/biwin-storage-technology-co-lt" target="_blank" data-smartkarma-citation="entities:40391:1" rel="noopener">Biwin Storage Technology (688525 CH)</a> were not added at the March rebalance since they were consistently loss-making. But they have been added this time.</li>
<li>
<a href="https://www.smartkarma.com/entities/united-nova-technology-co-ltd" target="_blank" data-smartkarma-citation="entities:40389:1" rel="noopener">United Nova Technology (688469 CH)</a> had been trading poorly and then the stock dropped further after non-inclusion in March. That could change now with inclusion confirmed.</li>
</ul>


There are 3 changes for the SSE STAR50 (STAR50 INDEX) and 9 changes for the STAR100 Index. Implementation will take place at the close on 14 June.

United Nova Technology (688469 CH) and Biwin Storage Technology (688525 CH) were not added at the March rebalance since they were consistently loss-making. But they have been added this time.

United Nova Technology (688469 CH) had been trading poorly and then the stock dropped further after non-inclusion in March. That could change now with inclusion confirmed.


STAR50/STAR100 Index Rebalance: Index Committee Flip-Flops on Profitability

<ul>
<li>We analyse the changes of A-H premium on 147 stocks over the last week. The average A-H premium was 107.4% as of May 31st.</li>
<li>The average A-H premium changed by 1.3ppt week-on-week, led by financials, consumer discretionary, health care and offset by information technology.</li>
<li>We highlight weekly changes in A-H premium for PetroChina, Chinalco, Tsingtao Brewery, Huanneg Power, Huahong Semi, CICC, Ganfeng Lithium.</li>
</ul>


We analyse the changes of A-H premium on 147 stocks over the last week. The average A-H premium was 107.4% as of May 31st.
The average A-H premium changed by 1.3ppt week-on-week, led by financials, consumer discretionary, health care and offset by information technology.
We highlight weekly changes in A-H premium for PetroChina, Chinalco, Tsingtao Brewery, Huanneg Power, Huahong Semi, CICC, Ganfeng Lithium.


A-H Premium Weekly (May 31st): PetroChina, Chinalco, Tsingtao Brewery, Huanneg Power, Huahong Semi

<ul>
<li>We analyse the changes of A-H premium on 147 stocks over the last week. The average A-H premium was 110.7% as of May 24th.</li>
<li>The average A-H premium changed by 4.3ppt week-on-week, led by real estate, financials, information technology and offset by communication services.</li>
<li>We highlight weekly changes in A-H premium for BOC, CCB, PetroChina, Zoomlion Heavy, Jiangxi Copper, China Longyuan.</li>
</ul>


We analyse the changes of A-H premium on 147 stocks over the last week. The average A-H premium was 110.7% as of May 24th.
The average A-H premium changed by 4.3ppt week-on-week, led by real estate, financials, information technology and offset by communication services.
We highlight weekly changes in A-H premium for BOC, CCB, PetroChina, Zoomlion Heavy, Jiangxi Copper, China Longyuan.


A-H Premium Weekly (May 24th): BOC, CCB, PetroChina, Zoomlion Heavy, Jiangxi Copper, China Longyuan

<ul>
<li>We analyse the changes of A-H premium on 147 stocks over the last week. The average A-H premium was 114.0% as of May 10th.</li>
<li>The average A-H premium changed by -7.0ppt week-on-week, led by energy, utilities, communication services and offset by consumer staples, consumer discretionary.</li>
<li>We highlight weekly changes in A-H premium for Petrochina, CGN Power, Hua Hong Semi, Huaneng Power, Cansino, Pharmaron.</li>
</ul>


We analyse the changes of A-H premium on 147 stocks over the last week. The average A-H premium was 114.0% as of May 10th.
The average A-H premium changed by -7.0ppt week-on-week, led by energy, utilities, communication services and offset by consumer staples, consumer discretionary.
We highlight weekly changes in A-H premium for Petrochina, CGN Power, Hua Hong Semi, Huaneng Power, Cansino, Pharmaron.


A-H Premium Weekly (May 10th): 19 Stocks at 52w Low

China

CanSino Biologics Inc. develops and manufactures biological vaccine products. The Company discovers quadrivalence meningococcal conjugate, pneumococcal polysaccharide, and adenovirus vector-based tuberculosis vaccines for human use. CanSino Biologics serves customers worldwide.

Price Gauge
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CanSino Biologics (688185 CH)

A-H Premium Weekly (Jun 7th): PetroChina, Huadian, Hua Hong Semi, Junshi, GWM

We highlight weekly changes in A-H premium for PetroChina, Huadian Power, Hua Hong Semi, Shanghai Junshi, Great Wall Motor.

Ke Yan, CFA, FRM

STAR50/STAR100 Index Rebalance: Index Committee Flip-Flops on Profitability

There are 3 changes for the STAR50 index and 9 for the STAR100. Some stocks will have same way flows from other index trackers. United Nova Tech is...

Brian Freitas

A-H Premium Weekly (May 31st): PetroChina, Chinalco, Tsingtao Brewery, Huanneg Power, Huahong Semi

We analyzed A-H premium changes in the past week and highlight A-H premium changes for PetroChina, Chinalco, Tsingtao Brewery, Huanneg Power, Hua...

Ke Yan, CFA, FRM

A-H Premium Weekly (May 24th): BOC, CCB, PetroChina, Zoomlion Heavy, Jiangxi Copper, China Longyuan

We analyzed A-H premium changes in the past week and highlight A-H premium changes for BOC, CCB, PetroChina, Zoomlion Heavy, Jiangxi Copper, China...

Ke Yan, CFA, FRM

A-H Premium Weekly (May 10th): 19 Stocks at 52w Low

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Petrochina, CGN Power, Hua Hong Semi, Huaneng Power,...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)