Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<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$5.7bn, split between Shanghai (+US$2.98bn) and Shenzhen (+US$2.8bn).</li>
<li>The largest inflows were into <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> and <a href="https://www.smartkarma.com/entities/midea-group-co-ltd-a" target="_blank" data-smartkarma-citation="entities:16185:1" rel="noopener">Midea Group (000333 CH)</a>. The largest outflows were in <a href="https://www.smartkarma.com/entities/nari-technology-co-ltd-a" target="_blank" data-smartkarma-citation="entities:4364:1" rel="noopener">NARI Technology (600406 CH)</a> and <a href="https://www.smartkarma.com/entities/china-yangtze-power-co-ltd" target="_blank" data-smartkarma-citation="entities:3210:1" rel="noopener">China Yangtze Power  (600900 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$5.7bn, split between Shanghai (+US$2.98bn) and Shenzhen (+US$2.8bn).
The largest inflows were into Kweichow Moutai (600519 CH) and Midea Group (000333 CH). The largest outflows were in NARI Technology (600406 CH) and China Yangtze Power  (600900 CH).


Shanghai/​​​​​​​​​​​​​​​​​​​​​Shenzhen Northbound Connect: Weekly Moves (18 November 2022)

Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

Thematic (Sector/Industry)

<ul><li>New property sales in China continued to plunge in October despite government attempts to stabilize the market, with top builders faring better than their peers.</li><li>The 100 largest developers — measured by sales value in the first 10 months of the year — recorded a combined 556 billion yuan ($76.7 billion) in sales last month, down 28.4% year-on-year and 2.6% month-on-month</li><li>China’s housing market, once a piston of the country’s economic growth engine, has lost much of its drive since last year following regulatory moves to clamp down on speculation and excessive borrowing.</li></ul>

New property sales in China continued to plunge in October despite government attempts to stabilize the market, with top builders faring better than their peers.The 100 largest developers — measured by sales value in the first 10 months of the year — recorded a combined 556 billion yuan ($76.7 billion) in sales last month, down 28.4% year-on-year and 2.6% month-on-monthChina’s housing market, once a piston of the country’s economic growth engine, has lost much of its drive since last year following regulatory moves to clamp down on speculation and excessive borrowing.

China’s Efforts to Prop Up Property Market Fall Short

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 analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of November 11th.</li>
<li>We estimate the weekly inflows to be US$845.8 million, led by materials, financials, consumer discretionary sectors, and offset by information technology, utilities.</li>
<li>We highlight flows for Midea, Zijin Mining, Naura Tech, TCL Zhonghuan, Yangtze Power, Goertek.</li>
</ul>


We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of November 11th.
We estimate the weekly inflows to be US$845.8 million, led by materials, financials, consumer discretionary sectors, and offset by information technology, utilities.
We highlight flows for Midea, Zijin Mining, Naura Tech, TCL Zhonghuan, Yangtze Power, Goertek.


Northbound Flows (Nov 11th): Midea, Zijin Mining, Naura Tech

<ul>
<li>We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of October 21st.</li>
<li>We estimate the weekly outflows to be US$4,305.1 million, led by consumer staples, financials, and offset by energy, utilities.</li>
<li>We highlight flows for BOE, Moutai, Ping An, Yili,  China Tourism, Longi Green.</li>
</ul>


We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of October 21st.
We estimate the weekly outflows to be US$4,305.1 million, led by consumer staples, financials, and offset by energy, utilities.
We highlight flows for BOE, Moutai, Ping An, Yili,  China Tourism, Longi Green.


Northbound Flows (Oct 21st): BOE, Moutai, Ping An, Yili, China Tourism, Longi Green

Equity Research in HK and Mainland China

Li Tang

<ul>
<li>Following the repeated calls for stability of the economy and the housing market, local governments are stepping up support.</li>
<li>More cities cut the down-payment ratio for the first home buyers</li>
<li>In 2022 we expect a nuanced policy response to the downturn in the housing market:</li>
</ul>


Following the repeated calls for stability of the economy and the housing market, local governments are stepping up support.
More cities cut the down-payment ratio for the first home buyers
In 2022 we expect a nuanced policy response to the downturn in the housing market:


China

China Merchants Shekou Industrial Zone Holdings Co., Ltd. operates as a park integrated developer. The Company conducts land and real estate development and management, community development, and other services. China Merchants Shekou Industrial Zone Holdings provides services in China.

China Merchants Shekou Industr (001979 CH)

Price Gauge
52-week Range	0.00 - 0.00
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China Merchants Shekou Industr (001979 CH)

Shanghai/Shenzhen Northbound Connect: Weekly Moves (18 November 2022)

Overall, net inflow over the past week in the HK -Shanghai-Shenzhen Northbound Connect facilities was ~US$5.7bn, split between Shanghai...

David Blennerhassett

China’s Efforts to Prop Up Property Market Fall Short

New property sales in China continued to plunge in October despite government attempts to stabilize the market, with top builders faring better...

Caixin Global

Northbound Flows (Nov 11th): Midea, Zijin Mining, Naura Tech

We analyzed northbound Shanghai/Shenzhen connect flows in the past week and highlight flows for Midea, Zijin Mining, Naura Tech, TCL Zhonghuan,...

Ke Yan, CFA, FRM

Northbound Flows (Oct 21st): BOE, Moutai, Ping An, Yili, China Tourism, Longi Green

We analyzed northbound Shanghai/Shenzhen connect flows in the past week and highlight flows for BOE, Moutai, Ping An, Yili, China Tourism, Longi...

Ke Yan, CFA, FRM

China Cities Start Cutting Down-Payments

In terms of the investment impact, we expect the home market recovery to continue to be differentiated by region and developer

Li Tang

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Shanghai/​​​​​​​​​​​​​​​​​​​​​Shenzhen Northbound Connect: Weekly Moves (18 November 2022)

Overall, net inflow over the past week in the HK -Shanghai-Shenzhen Northbound Connect facilities was ~US$5.7bn, split between Shanghai...

David Blennerhassett

China’s Efforts to Prop Up Property Market Fall Short

New property sales in China continued to plunge in October despite government attempts to stabilize the market, with top builders faring better...

Caixin Global

Northbound Flows (Nov 11th): Midea, Zijin Mining, Naura Tech

We analyzed northbound Shanghai/Shenzhen connect flows in the past week and highlight flows for Midea, Zijin Mining, Naura Tech, TCL Zhonghuan,...

Ke Yan, CFA, FRM

Northbound Flows (Oct 21st): BOE, Moutai, Ping An, Yili, China Tourism, Longi Green

We analyzed northbound Shanghai/Shenzhen connect flows in the past week and highlight flows for BOE, Moutai, Ping An, Yili, China Tourism, Longi...

Ke Yan, CFA, FRM

China Cities Start Cutting Down-Payments

In terms of the investment impact, we expect the home market recovery to continue to be differentiated by region and developer

Li Tang

Shanghai/Shenzhen Northbound Connect: Weekly Moves (18 November 2022)