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.

Index Rebalance

<ul>
<li>MS-China adds 33 names and deletes 32, effective 1 Sep 2026. The ADDs include 31 A-shares and 2 HK stocks, the DELETEs 25 and 7.</li>
<li>Our ADD Hit rate was 15 of 16 announced (94%), with 1 false positive in 16 calls. DELETE Hit rate was 9 of 12 (75%).</li>
<li>All announced 33 ADDs enter the bridge after a +20.3% average run. We won't chase gap-ups.</li>
</ul>


MS-China adds 33 names and deletes 32, effective 1 Sep 2026. The ADDs include 31 A-shares and 2 HK stocks, the DELETEs 25 and 7.
Our ADD Hit rate was 15 of 16 announced (94%), with 1 false positive in 16 calls. DELETE Hit rate was 9 of 12 (75%).
All announced 33 ADDs enter the bridge after a +20.3% average run. We won't chase gap-ups.


MS-China Sep 2026 Index Rebalance: Post-Announcement Positioning

Chery Automobile Co. Ltd. / Index Rebalance

<ul>
<li>We screen China stocks ahead of a global index's August 2026 quarterly review, with 16 ADD and 22 DELETE candidates.</li>
<li>Nine of 16 ADD candidates are Information Technology names, and six cleared the May cutoffs without being added.</li>
<li>The DELETE list splits into 12 names below the retention lines across the full cutoff range and 10 borderline names.</li>
</ul>


We screen China stocks ahead of a global index's August 2026 quarterly review, with 16 ADD and 22 DELETE candidates.
Nine of 16 ADD candidates are Information Technology names, and six cleared the May cutoffs without being added.
The DELETE list splits into 12 names below the retention lines across the full cutoff range and 10 borderline names.


MS-China Sep 2026 Index Rebalance Forecast

Index Rebal/Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal/Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

<ul>
<li>The HSTECH Index tracks the performance of the top 30 technology companies listed in Hong Kong that have high business exposure to certain technology themes.</li>
<li>In this insight, we take a look at our final ranks for potential ADDs/DELs and the resultant capping flow expectations for the HSTECH index rebal event in September 2026.</li>
<li>We expect no index changes for September 2026 but we see roughly US$1.9bn in one-way capping flows.</li>
</ul>


The HSTECH Index tracks the performance of the top 30 technology companies listed in Hong Kong that have high business exposure to certain technology themes.
In this insight, we take a look at our final ranks for potential ADDs/DELs and the resultant capping flow expectations for the HSTECH index rebal event in September 2026.
We expect no index changes for September 2026 but we see roughly US$1.9bn in one-way capping flows.


Quiddity Leaderboard HSTECH Sep26: Final Ranks; US$1.9bn One-Way Capping

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.

Equity Capital Markets

Nexchip Semiconductor  / Equity Capital Markets

<ul>
<li>Nexchip, an IC foundry focused on display driver ICs and image sensors, launched its IPO to raise USD 897m through an A+H listing. CICC is the sole sponsor.</li>
<li>In this note, we look at the deal terms and provide our thoughts on valuation for the company.</li>
<li>We analyze reference A+H transactions, cornerstone and sponsor performance and assess the risk-reward of the deal.</li>
</ul>


Nexchip, an IC foundry focused on display driver ICs and image sensors, launched its IPO to raise USD 897m through an A+H listing. CICC is the sole sponsor.
In this note, we look at the deal terms and provide our thoughts on valuation for the company.
We analyze reference A+H transactions, cornerstone and sponsor performance and assess the risk-reward of the deal.


Nexchip (晶合集成) A+H IPO: Analysis of Deal Terms

Contemporary Amperex Technology / Equity Capital Markets

Contemporary Amperex Technology (3750 HK)

<ul>
<li>We studied 43 HK IPO cornerstone deals from the Jan to Nov 2025 listing cohort to measure price action around the IPO+6M lock-up expiry.</li>
<li>We note that selling pressure from cornerstone selling overhang is deal-size dependent.</li>
<li>Sponsor mix further refines the screen. Pure international-sponsored deals underperformed other cohorts.</li>
</ul>


We studied 43 HK IPO cornerstone deals from the Jan to Nov 2025 listing cohort to measure price action around the IPO+6M lock-up expiry.
We note that selling pressure from cornerstone selling overhang is deal-size dependent.
Sponsor mix further refines the screen. Pure international-sponsored deals underperformed other cohorts.


HK IPO Essential Statistics: Quantifying Lock-Up Expiry Overhang

China

Chery Automobile is a Chinese automobile manufacturer that designs, develops, manufactures, and sells passenger vehicles, automotive parts, and components. It offers internal combustion engines and new energy vehicles under brands such as CHERY, JETOUR, EXEED, iCAR, and LUXEED. The company is headquartered in Wuhu, Anhui, China, and was founded in 1997.

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Chery (9973 HK)

MS-China Sep 2026 Index Rebalance: Post-Announcement Positioning

MGlobal Index announced the Review results after market close on 12 Aug with 33 ADDs and 32 DELETEs, effective 1 Sep. We review the pre...

Ke Yan, CFA, FRM

MS-China Sep 2026 Index Rebalance Forecast

We forecast 16 ADD candidates and 22 DELETE candidates for the MS-China August 2026 Quarterly Index Review, with the announcement expected after US...

Ke Yan, CFA, FRM

Quiddity Leaderboard HSTECH Sep26: Final Ranks; US$1.9bn One-Way Capping

Knowledge Atlas Technology (2513 HK) and MiniMax (100 HK) have cornerstone lock-ups that expire on 8th July 2026. There will be upweights in HSTECH...

Janaghan Jeyakumar, CFA

Nexchip (晶合集成) A+H IPO: Analysis of Deal Terms

We analyze Nexchip's USD 897m Hong Kong IPO. We look at deal terms, track records of cornerstone investors and sponsors, as well as its valuation....

Ke Yan, CFA, FRM

HK IPO Essential Statistics: Quantifying Lock-Up Expiry Overhang

HK IPO Essential Stat: We studied 43 HK IPO cornerstone deals listed in 2025 to quantify the selling pressure upon lock-up expiry.

Ke Yan, CFA, FRM

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