Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>SOUTHBOUND gross trading activity dropped sharply again to the lowest in a few months but net SOUTHBOUND buying remains very strong, with big flows on tech.</li>
<li>Most of the top names were tech names - both in gross and net buys. Only 1 tech name in top five net sells.</li>
<li>Last week I said I expect HK-listed tech to continue getting bought. Alibaba, Tencent, Xiaomi, etc are safe havens against Trump tariffs as they don't compete in the US. Continue.</li>
</ul>


SOUTHBOUND gross trading activity dropped sharply again to the lowest in a few months but net SOUTHBOUND buying remains very strong, with big flows on tech.
Most of the top names were tech names - both in gross and net buys. Only 1 tech name in top five net sells.
Last week I said I expect HK-listed tech to continue getting bought. Alibaba, Tencent, Xiaomi, etc are safe havens against Trump tariffs as they don't compete in the US. Continue.


HK Connect SOUTHBOUND Flows (To 29 Nov 2024); SB Trading Volumes Lower, Still Strong Net Buying Tech

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 Hong Kong Connect flows with our data engine for holding position as of November 15th.</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 Alibaba, Xiaomi, SMIC, Tencent, Ping An Insurance, HKEx, CNOOC.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of November 15th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Alibaba, Xiaomi, SMIC, Tencent, Ping An Insurance, HKEx, CNOOC.


Hong Kong Connect Flows (Nov 15th): Alibaba, Xiaomi, SMIC, Tencent, Ping An Insurance, HKEx, CNOOC

Quantitative Researcher, MRM Research

Nico Rosti

Quantitative Researcher

MRM Research

Quantitative Research

Equity Derivatives

<ul>
<li>In our <a href="https://www.smartkarma.com/insights/eqd-hsi-september-rally-what-s-next?slug=eqd-hsi-september-rally-what-s-next" target="_blank" rel="noopener">previous insight</a> about 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>'s we theorized a probable continuation of the rally in October, after some resistance, but the index just shoot up straight.</li>
<li>Resistance appeared last week, from an area considered a tail by our SHORT model, so it was not possible to make a forecast from there. </li>
<li>The question now is: can the index re-start to rally from here? Or will it pull back more this coming week?</li>
</ul>


In our previous insight about the Hang Seng Index's we theorized a probable continuation of the rally in October, after some resistance, but the index just shoot up straight.
Resistance appeared last week, from an area considered a tail by our SHORT model, so it was not possible to make a forecast from there. 
The question now is: can the index re-start to rally from here? Or will it pull back more this coming week?


EQD | The HSI Rally: Go LONG Now or Wait?

HK/China Equity Long-Short

Osbert Tang, CFA

Thematic (Sector/Industry)

<ul>
<li>With the HSI surging 21.2% since 24 Sep and many stocks have even doubled, the strategy in the HK and China markets will move to chase the laggards.</li>
<li>Among the underperforming HSI constituents, <a href="https://www.smartkarma.com/entities/china-resources-power-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:5385:1" rel="noopener">China Resources Power (836 HK)</a> and <a href="https://www.smartkarma.com/entities/china-mobile-ltd" target="_blank" data-smartkarma-citation="entities:27:1" rel="noopener">China Mobile (941 HK)</a> are the better candidates to pick up performance. </li>
<li>For HSCEI, <a href="https://www.smartkarma.com/entities/zijin-mining-group-co-ltd-h" target="_blank" data-smartkarma-citation="entities:6358:1" rel="noopener">Zijin Mining Group Co Ltd H (2899 HK)</a> and <a href="https://www.smartkarma.com/entities/china-shenhua-energy-co-h" target="_blank" data-smartkarma-citation="entities:382:1" rel="noopener">China Shenhua Energy Co H (1088 HK)</a> have lagged but their stories are interesting and should regain momentum.</li>
</ul>


With the HSI surging 21.2% since 24 Sep and many stocks have even doubled, the strategy in the HK and China markets will move to chase the laggards.
Among the underperforming HSI constituents, China Resources Power (836 HK) and China Mobile (941 HK) are the better candidates to pick up performance. 
For HSCEI, Zijin Mining Group Co Ltd H (2899 HK) and China Shenhua Energy Co H (1088 HK) have lagged but their stories are interesting and should regain momentum.


Global Emerging Market Equities, Propitious Research

Wium Malan, CFA

Global Emerging Market Equities

Independent, Fundamental Quantitative Research

Propitious Research

Fully independent, fundamental and quantitative equity research, focused on companies in the Telecommunication, Media, Technology, Internet and Healthcare sectors in the Global Emerging Markets. Idea generation focused on Quality stocks, trading below their intrinsic Value, with sound Corporate Governance.

<ul>
<li>During 3Q2024, the 200 largest weighted companies in the GEM index reported average EPS growth of +14.3%y/y, accelerating from the +7.1% reported during 2Q2024.</li>
<li>Overall, 59% of companies delivered positive EPS surprises, and 63% delivered positive Sales surprises, a continuation of the positive trend witnessed in the previous quarter.</li>
<li>Historically, there has been a significant difference in relative share price performance between the largest positive versus negative surprise generators, for 3 months after the reporting date.</li>
</ul>


During 3Q2024, the 200 largest weighted companies in the GEM index reported average EPS growth of +14.3%y/y, accelerating from the +7.1% reported during 2Q2024.
Overall, 59% of companies delivered positive EPS surprises, and 63% delivered positive Sales surprises, a continuation of the positive trend witnessed in the previous quarter.
Historically, there has been a significant difference in relative share price performance between the largest positive versus negative surprise generators, for 3 months after the reporting date.


Global Emerging Markets: Reporting Season Summary, 3Q2024

China

China Shenhua Energy Company Limited is an integrated coal-based energy company focusing on the coal and power businesses in China. The Company also owns and operates an integrated coal transportation network consisting of dedicated rail lines and port facilities.

Price Gauge
52-week Range	0.00 - 0.00
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China Shenhua Energy Co Ltd (601088 CH)

HK Connect SOUTHBOUND Flows (To 29 Nov 2024); SB Trading Volumes Lower, Still Strong Net Buying Tech

SOUTHBOUND volumes fell again this week to the lowest in months but net flows continue to be strong. This week was all about tech.

Travis Lundy

Hong Kong Connect Flows (Nov 15th): Alibaba, Xiaomi, SMIC, Tencent, Ping An Insurance, HKEx, CNOOC

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Alibaba, Xiaomi, SMIC, Tencent, Ping An Insurance, HKEx,...

Ke Yan, CFA, FRM

EQD | The HSI Rally: Go LONG Now or Wait?

The Hang Seng Index rally went vertical, then pulled back last week. Is this the right time to go in LONG? Or better wait for the index to pullback...

Nico Rosti

China & HK Strategy: What to Grab?

Hong Kong and China markets are seeing a surge, prompting a shift towards chasing underperforming stocks like CR Power and China Mobile in HSI,...

Osbert Tang, CFA

Global Emerging Markets: Reporting Season Summary, 3Q2024

In this quarterly insight, we analyse recent GEM reporting trends by looking at Sales and EPS growth, size and percentage of positive surprises,...

Wium Malan, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

HK Connect SOUTHBOUND Flows (To 29 Nov 2024); SB Trading Volumes Lower, Still Strong Net Buying Tech

SOUTHBOUND volumes fell again this week to the lowest in months but net flows continue to be strong. This week was all about tech.

Travis Lundy

Hong Kong Connect Flows (Nov 15th): Alibaba, Xiaomi, SMIC, Tencent, Ping An Insurance, HKEx, CNOOC

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Alibaba, Xiaomi, SMIC, Tencent, Ping An Insurance, HKEx,...

Ke Yan, CFA, FRM

EQD | The HSI Rally: Go LONG Now or Wait?

The Hang Seng Index rally went vertical, then pulled back last week. Is this the right time to go in LONG? Or better wait for the index to pullback...

Nico Rosti

China & HK Strategy: What to Grab?

​Hong Kong and China markets are seeing a surge, prompting a shift towards chasing underperforming stocks like CR Power and China Mobile in HSI,...

Osbert Tang, CFA

Global Emerging Markets: Reporting Season Summary, 3Q2024

In this quarterly insight, we analyse recent GEM reporting trends by looking at Sales and EPS growth, size and percentage of positive surprises,...

Wium Malan, CFA

Hong Kong and China markets are seeing a surge, prompting a shift towards chasing underperforming stocks like CR Power and China Mobile in HSI,...