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 analyzed the latest HK SFC report for aggregate short position as of Oct 27th.</li>
<li>Top short increases and decreases were tabulated for one week and four week period. </li>
<li>We highlight short changes in Yankuang Energy, CCB, Bidu, Petrochina.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Oct 27th.
Top short increases and decreases were tabulated for one week and four week period. 
We highlight short changes in Yankuang Energy, CCB, Bidu, Petrochina.


HK Short Interest Weekly: Yankuang Energy, CCB, Bidu, Petrochina

<ul>
<li>We analyse the changes of A-H premium on 146 stocks over the last week. The average A-H premium was 120.6% as of Oct 20th.</li>
<li>The average A-H premium changed by 2.0ppt week on week, led by consumer staples, financials, industrials and offset by information technology, communication services, consumer discretionary.</li>
<li>We highlight weekly changes in A-H premium for Postal Savings, Byd and CICC.</li>
</ul>


We analyse the changes of A-H premium on 146 stocks over the last week. The average A-H premium was 120.6% as of Oct 20th.
The average A-H premium changed by 2.0ppt week on week, led by consumer staples, financials, industrials and offset by information technology, communication services, consumer discretionary.
We highlight weekly changes in A-H premium for Postal Savings, Byd and CICC.


A-H Premium Weekly (Oct 20th): Postal Savings, Byd, CICC

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>This is the Brand Spanking New and Improved and Extra Spiffy H/A-Share Discount/Premium Weekly designed to help investors see H/A relationships easily. </li>
<li>We used to do it and decided to bring it back better. There are lots of cool interactive tables, and charts, heat maps, and comparative data. And 19 Trade Recommendations. </li>
<li>We hope this new version serves readers even better. Improvements this week due to popular demand, and updated format. Further feedback is welcome/appreciated. </li>
</ul>


This is the Brand Spanking New and Improved and Extra Spiffy H/A-Share Discount/Premium Weekly designed to help investors see H/A relationships easily. 
We used to do it and decided to bring it back better. There are lots of cool interactive tables, and charts, heat maps, and comparative data. And 19 Trade Recommendations. 
We hope this new version serves readers even better. Improvements this week due to popular demand, and updated format. Further feedback is welcome/appreciated. 


Week 2 of the Brand New and Extra Spiffy 🦄 H/​A-Share Discount/​Premium Weekly (As of 18 Aug 2023)

Index Rebal Trades & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal Trades & Special Situations

Index Rebalance

<ul>
<li>In this insight, we take a look at some of the names with high likelihood of being involved in index changes for the Hang Seng Index in September 2023.</li>
<li>The index changes for the September 2023 rebalance could be announced in mid-August and implemented in early-September.</li>
<li>Although the index methodology is highly subjective and predicting index changes is extremely tricky, the HSI is an important index in the region and here are our thoughts for September. </li>
</ul>


In this insight, we take a look at some of the names with high likelihood of being involved in index changes for the Hang Seng Index in September 2023.
The index changes for the September 2023 rebalance could be announced in mid-August and implemented in early-September.
Although the index methodology is highly subjective and predicting index changes is extremely tricky, the HSI is an important index in the region and here are our thoughts for September. 


Quiddity Leaderboard for Hang Seng Index Sep 23: Beigene Vs Peers An Interesting Trade

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

<ul>
<li>We finally got to 80 <a href="https://www.smartkarma.com/entities/hong-kong-hang-seng-index" target="_blank" data-smartkarma-citation="entities:22899:1" rel="noopener">Hang Seng Index</a> constituents in June. Now comes the next step of moving up to 100 index constituents though there is no timeline for completion.</li>
<li>The conclusions of the market consultation on the inclusion of foreign stocks in the <a href="https://www.smartkarma.com/entities/hong-kong-hang-seng-index" target="_blank" data-smartkarma-citation="entities:22899:1" rel="noopener">Hang Seng Index</a> should be announced soon though implementation could start only in December.</li>
<li>We highlight 10 potential inclusions to the index with passive trading impact varying from 1.5-5.6 days of ADV. There are large shorts on some of the stocks.</li>
</ul>


We finally got to 80 Hang Seng Index constituents in June. Now comes the next step of moving up to 100 index constituents though there is no timeline for completion.
The conclusions of the market consultation on the inclusion of foreign stocks in the Hang Seng Index should be announced soon though implementation could start only in December.
We highlight 10 potential inclusions to the index with passive trading impact varying from 1.5-5.6 days of ADV. There are large shorts on some of the stocks.


Hang Seng Index Rebalance Preview: 80 Member Target Achieved; What Next?

China

China Life Insurance Co., Limited offers a wide range of life, accident, and health insurance products and services.

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

China Life Insurance Co (Adr) (LFC US)

HK Short Interest Weekly: Yankuang Energy, CCB, Bidu, Petrochina

We analyzed the latest HK SFC report for aggregate short position as of Oct 27th and highlight short interest changes in Yankuang Energy, CCB,...

Ke Yan, CFA, FRM

A-H Premium Weekly (Oct 20th): Postal Savings, Byd, CICC

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Postal Savings, Byd and China International Capital Corp.

Ke Yan, CFA, FRM

Quiddity Leaderboard for Hang Seng Index Sep 23: Beigene Vs Peers An Interesting Trade

Hang Seng Index Sep 23 index changes and indicative weights could be published after the close on Friday 18th August 2023. The Hang Seng Index...

Janaghan Jeyakumar, CFA

Hang Seng Index Rebalance Preview: 80 Member Target Achieved; What Next?

There is just over a week to the announcement of the September changes for the HSI. A lot of the potential inclusions have outperformed the HSI...

Brian Freitas

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

HK Short Interest Weekly: Yankuang Energy, CCB, Bidu, Petrochina

We analyzed the latest HK SFC report for aggregate short position as of Oct 27th and highlight short interest changes in Yankuang Energy, CCB,...

Ke Yan, CFA, FRM

A-H Premium Weekly (Oct 20th): Postal Savings, Byd, CICC

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Postal Savings, Byd and China International Capital Corp.

Ke Yan, CFA, FRM

Week 2 of the Brand New and Extra Spiffy 🦄 H/​A-Share Discount/​Premium Weekly (As of 18 Aug 2023)

Week 2 of the Brand New and Extra Spiffy H/A Discount Monitor. Thanks for the requests. Some are implemented. Some are on the way. Trades were up...

Travis Lundy

Quiddity Leaderboard for Hang Seng Index Sep 23: Beigene Vs Peers An Interesting Trade

Hang Seng Index Sep 23 index changes and indicative weights could be published after the close on Friday 18th August 2023. The Hang Seng Index...

Janaghan Jeyakumar, CFA

Hang Seng Index Rebalance Preview: 80 Member Target Achieved; What Next?

There is just over a week to the announcement of the September changes for the HSI. A lot of the potential inclusions have outperformed the HSI...

Brian Freitas

Week 2 of the Brand New and Extra Spiffy 🦄 H/A-Share Discount/Premium Weekly (As of 18 Aug 2023)