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 latest HK SFC report for aggregate short position as of Sep 11th.</li>
<li>Top short increases and decreases were tabulated for one week and four week period.</li>
<li>We highlight short changes in Tencent, Sun Hung Kai Properties, Ntes, CCB, Minimax, Zj Innolight, China Mobile, CNOOC.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Sep 11th.
Top short increases and decreases were tabulated for one week and four week period.
We highlight short changes in Tencent, Sun Hung Kai Properties, Ntes, CCB, Minimax, Zj Innolight, China Mobile, CNOOC.


HK Short Interest Weekly: Tencent, Sun Hung Kai Properties, Ntes, CCB, Minimax, Zj Innolight, CNOOC

Asia L/S Equity PM/Macro/Thematic Idea Generation

Rikki Malik

Thematic (Sector/Industry)

<ul>
<li>Continuing review of the sectors we like for the next phase of the HK/China bull market</li>
<li>In financials, insurers are a lower volatility way of playing the equity market revival</li>
<li>Watch for a reversal of bond yields as a signal to buy</li>
</ul>


Continuing review of the sectors we like for the next phase of the HK/China bull market
In financials, insurers are a lower volatility way of playing the equity market revival
Watch for a reversal of bond yields as a signal to buy


Timing the Entry into the Insurance Sector for the Next Phase of the HK/China Bull Market

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of Sep 4th.</li>
<li>Top short increases and decreases were tabulated for one week and four week period.</li>
<li>We highlight short changes in Tencent, Cathay Pacific Airways, Kingdee, Meituan, Ntes, Knowledge Atlas, ABC, Shandong Gold Mining Co Lt, Sinotruk.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Sep 4th.
Top short increases and decreases were tabulated for one week and four week period.
We highlight short changes in Tencent, Cathay Pacific Airways, Kingdee, Meituan, Ntes, Knowledge Atlas, ABC, Shandong Gold Mining Co Lt, Sinotruk.


HK Short Interest Weekly: Tencent, Cathay Pacific Airways, Kingdee, Meituan, Ntes, Knowledge Atlas

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of September 11th.</li>
<li>The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.</li>
<li>We highlight flows for Smic, Bidu, Hua Hong Semi, Zj Innolight, Xiaomi, Tencent, China Mobile, Innovent Bio, Zijin Mining.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of September 11th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Smic, Bidu, Hua Hong Semi, Zj Innolight, Xiaomi, Tencent, China Mobile, Innovent Bio, Zijin Mining.


HK Connect Flows Weekly (Sep 11th): Smic, Bidu, Hua Hong Semi, Zj Innolight, Xiaomi, Tencent

HK/China Equity Long-Short

Osbert Tang, CFA

<ul>
<li>CSRC's Market Value Management Guidelines will indirectly benefit the H-share stocks with their A-share counterparts with a P/B of below 1x.  </li>
<li>Chinese banks dominated the list with below-book A-shares. <a href="https://www.smartkarma.com/entities/china-everbright-bank-co-ltd" target="_blank" data-smartkarma-citation="entities:16221:1" rel="noopener">China Everbright Bank (6818 HK)</a>, <a href="https://www.smartkarma.com/entities/china-citic-bank-corp-ltd-ea6c25fd-4b20-45cb-a4a6-df7a60136f03" target="_blank" data-smartkarma-citation="entities:653:1" rel="noopener">China Citic Bank H (998 HK)</a>, and <a href="https://www.smartkarma.com/entities/industrial-and-commercial-bank-of-china-limited" target="_blank" data-smartkarma-citation="entities:1119:1" rel="noopener">ICBC (H) (1398 HK)</a> are the prime beneficiaries.</li>
<li>Infrastructure construction companies <a href="https://www.smartkarma.com/entities/china-railway-construction-corp-limited" target="_blank" data-smartkarma-citation="entities:263:1" rel="noopener">China Railway Cons Corp (1186 HK)</a>, <a href="https://www.smartkarma.com/entities/china-railway-group-ltd-h" target="_blank" data-smartkarma-citation="entities:264:1" rel="noopener">China Railway Group H (390 HK)</a>, and <a href="https://www.smartkarma.com/entities/china-communications-construction-co-ltd" target="_blank" data-smartkarma-citation="entities:265:1" rel="noopener">China Comm Cons (1800 HK)</a> are also well-positioned to gain.</li>
</ul>


CSRC's Market Value Management Guidelines will indirectly benefit the H-share stocks with their A-share counterparts with a P/B of below 1x.  
Chinese banks dominated the list with below-book A-shares. China Everbright Bank (6818 HK), China Citic Bank H (998 HK), and ICBC (H) (1398 HK) are the prime beneficiaries.
Infrastructure construction companies China Railway Cons Corp (1186 HK), China Railway Group H (390 HK), and China Comm Cons (1800 HK) are also well-positioned to gain.


China & HK Strategy: Names to Watch for Market Value Management

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
P/E	0.00
Dividend (Yield)	0.00

China Life Insurance Co (Adr) (LFC US)

HK Short Interest Weekly: Tencent, Sun Hung Kai Properties, Ntes, CCB, Minimax, Zj Innolight, CNOOC

We analyzed the latest HK SFC report for aggregate short position as of Sep 11th and highlight short interest changes in Tencent (700 HK), Sun Hung...

Ke Yan, CFA, FRM

Timing the Entry into the Insurance Sector for the Next Phase of the HK/China Bull Market

Analysis of sectors favored for the upcoming phase of the HK/China bull market, with a focus on insurers as a lower volatility option and a tip to...

Rikki Malik

HK Short Interest Weekly: Tencent, Cathay Pacific Airways, Kingdee, Meituan, Ntes, Knowledge Atlas

We analyzed the latest HK SFC report for aggregate short position as of Sep 4th and highlight short interest changes in Tencent (700 HK), Cathay...

Ke Yan, CFA, FRM

HK Connect Flows Weekly (Sep 11th): Smic, Bidu, Hua Hong Semi, Zj Innolight, Xiaomi, Tencent

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Smic, Bidu, Hua Hong Semi, Zj Innolight, Xiaomi, Tencent,...

Ke Yan, CFA, FRM

China & HK Strategy: Names to Watch for Market Value Management

SASAC issued "Several opinions on improving and strengthening the market value management of listed companies controlled by central enterprises"...

Osbert Tang, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

HK Short Interest Weekly: Tencent, Sun Hung Kai Properties, Ntes, CCB, Minimax, Zj Innolight, CNOOC

We analyzed the latest HK SFC report for aggregate short position as of Sep 11th and highlight short interest changes in Tencent (700 HK), Sun Hung...

Ke Yan, CFA, FRM

Timing the Entry into the Insurance Sector for the Next Phase of the HK/China Bull Market

​Analysis of sectors favored for the upcoming phase of the HK/China bull market, with a focus on insurers as a lower volatility option and a tip to...

Rikki Malik

HK Short Interest Weekly: Tencent, Cathay Pacific Airways, Kingdee, Meituan, Ntes, Knowledge Atlas

We analyzed the latest HK SFC report for aggregate short position as of Sep 4th and highlight short interest changes in Tencent (700 HK), Cathay...

Ke Yan, CFA, FRM

HK Connect Flows Weekly (Sep 11th): Smic, Bidu, Hua Hong Semi, Zj Innolight, Xiaomi, Tencent

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Smic, Bidu, Hua Hong Semi, Zj Innolight, Xiaomi, Tencent,...

Ke Yan, CFA, FRM

China & HK Strategy: Names to Watch for Market Value Management

SASAC issued "Several opinions on improving and strengthening the market value management of listed companies controlled by central enterprises"...

Osbert Tang, CFA

Analysis of sectors favored for the upcoming phase of the HK/China bull market, with a focus on insurers as a lower volatility option and a tip to...