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

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.

Quantitative Analysis

<ul>
<li>We analyse the changes of A-H premium on 170 stocks over the last week. The average A-H premium was 59.2% as of Jan 30th.</li>
<li>The average A-H premium changed by 0.7ppt week-on-week, led by consumer discretionary, utilities, industrials and offset by energy, real estate, financials.</li>
<li>We highlight weekly changes in A-H premium for China Railway, CNOOC, Ningbo Joyson Electronic, YOFC, Tianqi Lithium, Foshan Haitian Flavouring And Food.</li>
</ul>


We analyse the changes of A-H premium on 170 stocks over the last week. The average A-H premium was 59.2% as of Jan 30th.
The average A-H premium changed by 0.7ppt week-on-week, led by consumer discretionary, utilities, industrials and offset by energy, real estate, financials.
We highlight weekly changes in A-H premium for China Railway, CNOOC, Ningbo Joyson Electronic, YOFC, Tianqi Lithium, Foshan Haitian Flavouring And Food.


A-H Premium Weekly (Jan 30th): China Railway, CNOOC, Ningbo Joyson Electronic, YOFC, Tianqi Lithium

<ul>
<li>We analyse the changes of A-H premium on 169 stocks over the last week. The average A-H premium was 58.5% as of Jan 23rd.</li>
<li>The average A-H premium changed by -3.0ppt week-on-week, led by information technology, energy, materials and offset by financials, health care.</li>
<li>We highlight weekly changes in A-H premium for Chifeng Jilong Gold Mining, Flat Glass, Maanshan Iron &amp; Steel, China Tourism, Sinopec, Sany Heavy.</li>
</ul>


We analyse the changes of A-H premium on 169 stocks over the last week. The average A-H premium was 58.5% as of Jan 23rd.
The average A-H premium changed by -3.0ppt week-on-week, led by information technology, energy, materials and offset by financials, health care.
We highlight weekly changes in A-H premium for Chifeng Jilong Gold Mining, Flat Glass, Maanshan Iron &amp; Steel, China Tourism, Sinopec, Sany Heavy.


A-H Premium Weekly (Jan 23rd): Chifeng Jilong Gold Mining, Flat Glass, Maanshan Iron & Steel

<ul>
<li>We analyse the changes of A-H premium on 162 stocks over the last week. The average A-H premium was 62.6% as of Jan 16th.</li>
<li>The average A-H premium changed by 0.0ppt week-on-week, led by financials, consumer discretionary and offset by energy, communication services, consumer staples.</li>
<li>We highlight weekly changes in A-H premium for COSCO Shipping Energy, Ganfeng Lithium, China Oilfield Services, Hua Hong Semiconductor, China Everbright Bank, Weichai Power.</li>
</ul>


We analyse the changes of A-H premium on 162 stocks over the last week. The average A-H premium was 62.6% as of Jan 16th.
The average A-H premium changed by 0.0ppt week-on-week, led by financials, consumer discretionary and offset by energy, communication services, consumer staples.
We highlight weekly changes in A-H premium for COSCO Shipping Energy, Ganfeng Lithium, China Oilfield Services, Hua Hong Semiconductor, China Everbright Bank, Weichai Power.


A-H Premium Weekly (Jan 16th): COSCO Shipping Energy, Ganfeng Lithium, China Oilfield Services

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

China Longyuan Power Group / Event-Driven

<ul>
<li>Hs outperformed As on average by 0.99% within the liquid AH pair universe over the past two weeks. Beautiful Skew Behaved Badly.</li>
<li>Quiddity H/A Portfolio performance slightly negative over two weeks, both outright and alpha.</li>
<li>The data tables below update on a daily basis in the <a href="https://www.smartkarma.com/tools" target="_blank" rel="noopener">Tools</a> section of Smartkarma. The <a href="https://www.smartkarma.com/tools/quiddity/south-flow-monitor" target="_blank" rel="noopener">Southbound Flow Monitor</a> and <a href="https://www.smartkarma.com/tools/quiddity/ah-shares-monitor" target="_blank" rel="noopener">AH Pairs Monitor</a> are both there - free for all SK readers.</li>
</ul>


Hs outperformed As on average by 0.99% within the liquid AH pair universe over the past two weeks. Beautiful Skew Behaved Badly.
Quiddity H/A Portfolio performance slightly negative over two weeks, both outright and alpha.
The data tables below update on a daily basis in the Tools section of Smartkarma. The Southbound Flow Monitor and AH Pairs Monitor are both there - free for all SK readers.


A/H Premium Tracker (2wks to 5 Dec 2025):  Hs Outperforming As Slightly But No Beautiful Skew

<ul>
<li>We analyse the changes of A-H premium on 160 stocks over the last week. The average A-H premium was 62.9% as of Nov 28th.</li>
<li>The average A-H premium changed by -0.9ppt week-on-week, led by industrials, energy and offset by real estate, information technology, communication services.</li>
<li>We highlight weekly changes in A-H premium for Guangzhou Automobile, China Everbright Bank, China Southern Airlines, Cig Shanghai.</li>
</ul>


We analyse the changes of A-H premium on 160 stocks over the last week. The average A-H premium was 62.9% as of Nov 28th.
The average A-H premium changed by -0.9ppt week-on-week, led by industrials, energy and offset by real estate, information technology, communication services.
We highlight weekly changes in A-H premium for Guangzhou Automobile, China Everbright Bank, China Southern Airlines, Cig Shanghai.


A-H Premium Weekly (Nov 28th): Guangzhou Automobile, China Everbright Bank, China Southern Airlines

China

China Oilfield Services is a leading integrated oilfield services provider, offering geophysical, drilling, well, and marine and transportation services. These services cover the exploration, development, and production phases of the oil and gas industry, including seismic data acquisition, drilling rig operations, and well completion. The company is headquartered in Sanhe, Hebei Province, China, and was founded in 2001.

Price Gauge
52-week Range	0.00 - 0.00
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China Oilfield Services (2883 HK)

A-H Premium Weekly (Jan 30th): China Railway, CNOOC, Ningbo Joyson Electronic, YOFC, Tianqi Lithium

We analyzed A-H premium changes in the past week and highlight A-H premium changes for China Railway, CNOOC, Ningbo Joyson Electronic, YOFC, Tianqi...

Ke Yan, CFA, FRM

A-H Premium Weekly (Jan 23rd): Chifeng Jilong Gold Mining, Flat Glass, Maanshan Iron & Steel

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Chifeng Jilong Gold Mining, Flat Glass, Maanshan Iron &...

Ke Yan, CFA, FRM

A-H Premium Weekly (Jan 16th): COSCO Shipping Energy, Ganfeng Lithium, China Oilfield Services

We analyzed A-H premium changes in the past week and highlight A-H premium changes for COSCO Shipping Energy, Ganfeng Lithium, China Oilfield...

Ke Yan, CFA, FRM

A/H Premium Tracker (2wks to 5 Dec 2025): Hs Outperforming As Slightly But No Beautiful Skew

Hs outperforming As but Beautiful Skew Behaving Badly. SOUTHBOUND flows are net positive but it isn't very orderly. Utilities Hs doing well vs As.

Travis Lundy

A-H Premium Weekly (Nov 28th): Guangzhou Automobile, China Everbright Bank, China Southern Airlines

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Guangzhou Automobile, China Everbright Bank, China Southern...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)