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 analyse the changes of A-H premium on 200 stocks over the last week. The average A-H premium was 92.3% as of Oct 9th.</li>
<li>The average A-H premium changed by 3.7ppt week-on-week, led by materials, industrials, utilities.</li>
<li>We highlight weekly changes in A-H premium for Innocare, Ganfenglithium, China East Air, Yofc.</li>
</ul>


We analyse the changes of A-H premium on 200 stocks over the last week. The average A-H premium was 92.3% as of Oct 9th.
The average A-H premium changed by 3.7ppt week-on-week, led by materials, industrials, utilities.
We highlight weekly changes in A-H premium for Innocare, Ganfenglithium, China East Air, Yofc.


A-H Premium Weekly (Oct 9th): Innocare, Ganfenglithium, China East Air, Yofc

Asian Hedge Fund Manager, Long Short Equity, Macro

David Mudd

Thematic (Sector/Industry)

<ul>
<li>China's telecom sector is capitalizing on its position as an AI infrastructure play, launching AI Token packages this month to serve its business and retail customers.</li>
<li>China Telecom has rolled out nationwide packages starting at RMB 9.9/month.  China Mobile provides access to Qwen 3.6 Lite for up to 18k prompts for RMB 40/month.</li>
<li>Valuations in China's telecom sector remain attractive, with low-single-digit cash flow multiples and dividend yields of 6%.</li>
</ul>


China's telecom sector is capitalizing on its position as an AI infrastructure play, launching AI Token packages this month to serve its business and retail customers.
China Telecom has rolled out nationwide packages starting at RMB 9.9/month.  China Mobile provides access to Qwen 3.6 Lite for up to 18k prompts for RMB 40/month.
Valuations in China's telecom sector remain attractive, with low-single-digit cash flow multiples and dividend yields of 6%.


CHINA TELECOM SECTOR: AI Exposure With A Dividend!!

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

Cross Asset Strategy

<ul><li>TOP STORIES In Depth: AI Agents Ignite Global Battle for the Future of Payments With a single voice command, Alibaba Group Holding Ltd.</li><li>Vice President Wu Jia ordered 40 cups of milk tea at a press conference in Hangzhou in January.</li><li>Within seconds, the company’s AI app, Qwen, placed and paid for the order.</li></ul>

TOP STORIES In Depth: AI Agents Ignite Global Battle for the Future of Payments With a single voice command, Alibaba Group Holding Ltd.Vice President Wu Jia ordered 40 cups of milk tea at a press conference in Hangzhou in January.Within seconds, the company’s AI app, Qwen, placed and paid for the order.

CX Daily: AI Agents Ignite Global Battle for the Future of Payments 

Singapore Market Roundup, Singapore Market Roundup

Singapore Market Roundup

<ul><li>UOB Kay Hian rates CAO as 'buy' with a $2.09 TP due to strong travel demand.</li><li>DBS names Singtel as a top Asian telco due to ROIC potential and Optus sale.</li><li>Maybank initiates 'buy' rating on Soon Hock with 20% price upside.</li></ul>

UOB Kay Hian rates CAO as 'buy' with a $2.09 TP due to strong travel demand.DBS names Singtel as a top Asian telco due to ROIC potential and Optus sale.Maybank initiates 'buy' rating on Soon Hock with 20% price upside.

Singapore Market Roundup (14-Jan-2026): UOB Kay Hian rates CAO 'buy' with $2.09 target price.

<ul>
<li>We analyse the changes of A-H premium on 196 stocks over the last week. The average A-H premium was 81.8% as of Sep 4th.</li>
<li>The average A-H premium changed by 0.4ppt week-on-week, led by communication services, consumer staples, consumer discretionary and offset by energy, financials, utilities.</li>
<li>We highlight weekly changes in A-H premium for China South Air, Remegen, China Telecom, Muyuan Foods, Conch Cement, Minsheng Bank.</li>
</ul>


We analyse the changes of A-H premium on 196 stocks over the last week. The average A-H premium was 81.8% as of Sep 4th.
The average A-H premium changed by 0.4ppt week-on-week, led by communication services, consumer staples, consumer discretionary and offset by energy, financials, utilities.
We highlight weekly changes in A-H premium for China South Air, Remegen, China Telecom, Muyuan Foods, Conch Cement, Minsheng Bank.


A-H Premium Weekly (Sep 4th): China South Air, Remegen, China Telecom, Muyuan Foods, Conch Cement

China

China Telecom Corporation Limited offers wireline telecom services. The Company provides internet access, mobile communications connecting, and other services. China Telecom also offers information consulting services.

Price Gauge
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China Telecom (601728 CH)

A-H Premium Weekly (Oct 9th): Innocare, Ganfenglithium, China East Air, Yofc

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Innocare, Ganfenglithium, China East Air, Yofc.

Ke Yan, CFA, FRM

CHINA TELECOM SECTOR: AI Exposure With A Dividend!!

China is preparing to spend around 2 trillion yuan ($295 billion) over the next five years on building data centers across the country. State...

David Mudd

CX Daily: AI Agents Ignite Global Battle for the Future of Payments

TOP STORIES In Depth: AI Agents Ignite Global Battle for the Future of Payments With a single voice command, Alibaba Group Holding Ltd. Vice...

Caixin Global

Singapore Market Roundup (14-Jan-2026): UOB Kay Hian rates CAO 'buy' with $2.09 target price.

UOB Kay Hian rates CAO 'buy' at $2.09 TP; DBS names Singtel top Asian telco; Maybank initiates 'buy' on Soon Hock with 20% price upside.

Singapore Market Roundup

A-H Premium Weekly (Sep 4th): China South Air, Remegen, China Telecom, Muyuan Foods, Conch Cement

We analyzed A-H premium changes in the past week and highlight A-H premium changes for China South Air, Remegen, China Telecom, Muyuan Foods, Conch...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)