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

Event-Driven

<ul>
<li>The Ping An AH premium has traded around 10% over the last few days - this is near its historical highs and close to where reversals take place from.</li>
<li>The AH premium of the broader market is below its highs, while the AH premium on large cap financials has been trending lower over the last few months.</li>
<li>Northbound Stock Connect holdings on the A-shares have been decreasing, while Southbound Stock Connect holdings on the H-shares have been increasing over the last few months.</li>
</ul>


The Ping An AH premium has traded around 10% over the last few days - this is near its historical highs and close to where reversals take place from.
The AH premium of the broader market is below its highs, while the AH premium on large cap financials has been trending lower over the last few months.
Northbound Stock Connect holdings on the A-shares have been decreasing, while Southbound Stock Connect holdings on the H-shares have been increasing over the last few months.


Ping An A/H: Position for Premium Contraction

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

<ul>
<li>Inside is a recap of movements in the last week relating to the Hong Kong Stock Exchange -Shanghai and Shenzhen Northbound Connect facilities, broken down by company and industry.</li>
<li>Overall, net inflow over the past week was ~US$3.5bn, split between Shanghai (+US$2.3bn) and Shenzhen (+US$1.2bn).</li>
<li>The largest inflows were into <a href="https://www.smartkarma.com/entities/inner-mongolia-yili-indus-a" target="_blank" data-smartkarma-citation="entities:3220:1" rel="noopener">Inner Mongolia Yili (600887 CH)</a> and <a href="https://www.smartkarma.com/entities/pharmaron-beijing-co-ltd-a" target="_blank" data-smartkarma-citation="entities:28277:1" rel="noopener">Pharmaron Beijing (300759 CH)</a>. The largest outflows were in <a href="https://www.smartkarma.com/entities/contemporary-amperex-techn-a" target="_blank" data-smartkarma-citation="entities:24404:1" rel="noopener">CATL (300750 CH)</a>  (300750 CH) and <a href="https://www.smartkarma.com/entities/qinghai-salt-lake-industry-co-ltd" target="_blank" data-smartkarma-citation="entities:5088:1" rel="noopener">Qinghai Salt (000792 CH)</a>.</li>
</ul>


Inside is a recap of movements in the last week relating to the Hong Kong Stock Exchange -Shanghai and Shenzhen Northbound Connect facilities, broken down by company and industry.
Overall, net inflow over the past week was ~US$3.5bn, split between Shanghai (+US$2.3bn) and Shenzhen (+US$1.2bn).
The largest inflows were into Inner Mongolia Yili (600887 CH) and Pharmaron Beijing (300759 CH). The largest outflows were in CATL (300750 CH)  (300750 CH) and Qinghai Salt (000792 CH).


Shanghai/​​​​Shenzhen Northbound Connect: Weekly Moves (17 June 2022)

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 Jun 2nd. </li>
<li>Top short increases and decreases were tabulated for one week and four week period. </li>
<li>We highlight week-on-week short interest increases in Kuaishou and Baidu. </li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Jun 2nd. 
Top short increases and decreases were tabulated for one week and four week period. 
We highlight week-on-week short interest increases in Kuaishou and Baidu. 


HK Short Interest: Short Spiked for Kuaishou & Baidu

LONGi Green Energy Technology / Event-Driven

<ul>
<li>Inside is a recap of movements in the last week relating to the Hong Kong Stock-Shanghai and Shenzhen Northbound Connect facilities, broken down by company and industry.</li>
<li>Overall, net inflow was ~US$6.5bn, split between Shanghai (+US$5.5bn) and Shenzhen (+US$1.0bn).</li>
<li>The largest inflows were into <a href="https://www.smartkarma.com/entities/longi-green-energy-technology-co-ltd" target="_blank" data-smartkarma-citation="entities:12703:1" rel="noopener">LONGi Green Energy Technology (601012 CH)</a> and <a href="https://www.smartkarma.com/entities/kweichow-moutai-co-ltd-a" target="_blank" data-smartkarma-citation="entities:1553:1" rel="noopener">Kweichow Moutai (600519 CH)</a>. The largest outflows were in <a href="https://www.smartkarma.com/entities/contemporary-amperex-techn-a" target="_blank" data-smartkarma-citation="entities:24404:1" rel="noopener">CATL (300750 CH)</a> and <a href="https://www.smartkarma.com/entities/cosco-shipping-holdings-co-ltd-a" target="_blank" data-smartkarma-citation="entities:27590:1" rel="noopener">Cosco Shipping Holdings (601919 CH)</a>.</li>
</ul>


Inside is a recap of movements in the last week relating to the Hong Kong Stock-Shanghai and Shenzhen Northbound Connect facilities, broken down by company and industry.
Overall, net inflow was ~US$6.5bn, split between Shanghai (+US$5.5bn) and Shenzhen (+US$1.0bn).
The largest inflows were into LONGi Green Energy Technology (601012 CH) and Kweichow Moutai (600519 CH). The largest outflows were in CATL (300750 CH) and Cosco Shipping Holdings (601919 CH).


Shanghai/​​​Shenzhen Northbound Connect: Weekly Moves (9 June 2022)

<ul>
<li>We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine.</li>
<li>The past week recorded inflows of USD 3.8bn, the largest since Feb. Such inflows were led by consumer staples, industrials and materials.</li>
<li>We highlight stocks including Moutai, Wuliangye, CMB, China Tourism Duty Free, and CATL.</li>
</ul>


We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine.
The past week recorded inflows of USD 3.8bn, the largest since Feb. Such inflows were led by consumer staples, industrials and materials.
We highlight stocks including Moutai, Wuliangye, CMB, China Tourism Duty Free, and CATL.


Northbound Flows: Biggest Inflow Since Feb

China

China Merchants Bank Co., Ltd. operates as a commercial bank. The Company provides deposits, loans, wealth management, asset custody, finance leasing, investment banking, and other banking services. China Merchants Bank conducts businesses domestically and internationally.

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

China Merchants Bank H (3968 HK)

Ping An A/H: Position for Premium Contraction

With the Ping An AH premium around 10%, we would look to sell the A-shares and buy the H-shares. The risk is a continuation of the A-shares buyback...

Brian Freitas

Shanghai/Shenzhen Northbound Connect: Weekly Moves (17 June 2022)

Overall, net inflow over the past week was ~US$3.5bn, split between Shanghai Northbound (+US$2.3bn) and Shenzhen Northbound (+US$1.2bn).

David Blennerhassett

HK Short Interest: Short Spiked for Kuaishou & Baidu

We highlight week-on-week short interest increases in Kuaishou and Baidu based on the latest HK SFC short aggregate report.

Ke Yan, CFA, FRM

Shanghai/Shenzhen Northbound Connect: Weekly Moves (9 June 2022)

Overall, net inflow was ~US$6.5bn, and was roughly split between Shanghai Northbound (+US$5.5bn) and Shenzhen Northbound (+US$1.0bn).

David Blennerhassett

Northbound Flows: Biggest Inflow Since Feb

We highlight northbound Shanghai Shenzhen connect net inflows of USD 3.8bn and stocks including Moutai, Wuliangye, CMB, China Tourism Duty Free,...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Ping An A/H: Position for Premium Contraction

With the Ping An AH premium around 10%, we would look to sell the A-shares and buy the H-shares. The risk is a continuation of the A-shares buyback...

Brian Freitas

Shanghai/​​​​Shenzhen Northbound Connect: Weekly Moves (17 June 2022)

Overall, net inflow over the past week was ~US$3.5bn, split between Shanghai Northbound (+US$2.3bn) and Shenzhen Northbound (+US$1.2bn).

David Blennerhassett

HK Short Interest: Short Spiked for Kuaishou & Baidu

We highlight week-on-week short interest increases in Kuaishou and Baidu based on the latest HK SFC short aggregate report.

Ke Yan, CFA, FRM

Shanghai/​​​Shenzhen Northbound Connect: Weekly Moves (9 June 2022)

Overall, net inflow was ~US$6.5bn, and was roughly split between Shanghai Northbound (+US$5.5bn) and Shenzhen Northbound (+US$1.0bn).

David Blennerhassett

Northbound Flows: Biggest Inflow Since Feb

We highlight northbound Shanghai Shenzhen connect net inflows of USD 3.8bn and stocks including Moutai, Wuliangye, CMB, China Tourism Duty Free,...

Ke Yan, CFA, FRM

Shanghai/Shenzhen Northbound Connect: Weekly Moves (17 June 2022)

Shanghai/Shenzhen Northbound Connect: Weekly Moves (9 June 2022)