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 analyzed the changes in margin trading positions of A-share stocks as of Oct 9th. The aggregated net margin trading position is USD341,906m.</li>
<li>We tabulate league tables for top/bottom net long/short of margin trading by value, net margin buy as multiple of ADT.</li>
<li>We highlight net margin buy/sell changes in ANHUI JIANGHUAI AUTOMOBILE, SHARETRONIC DATA TECHNOLOGY, YUANJIE SEMI, SUZHOU EVERBRIGHT PHOTONICS, GIGADEVICE SEMICONDUCTOR.</li>
</ul>


We analyzed the changes in margin trading positions of A-share stocks as of Oct 9th. The aggregated net margin trading position is USD341,906m.
We tabulate league tables for top/bottom net long/short of margin trading by value, net margin buy as multiple of ADT.
We highlight net margin buy/sell changes in ANHUI JIANGHUAI AUTOMOBILE, SHARETRONIC DATA TECHNOLOGY, YUANJIE SEMI, SUZHOU EVERBRIGHT PHOTONICS, GIGADEVICE SEMICONDUCTOR.


A-Share Margin Trading Weekly (Oct 9th): ANHUI JIANGHUAI AUTOMOBILE, SHARETRONIC DATA TECHNOLOGY

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>Since late-February (2/25/25 Compass and 2/27/25 Int'l Compass) we expected an 8-10% pullback to provide a buying opportunity.</li>
<li>But that all changed last week (4/1/25 Compass and 4/3/25 Int'l Compass), when we downgraded our outlook to bearish/cautious, citing several concerning developments.</li>
<li>Despite the 90-day pause, we remain cautious and we continue to favor defensives as long as the S&amp;P 500 and ACWI-US are below their 200-day MAs.</li>
</ul>


Since late-February (2/25/25 Compass and 2/27/25 Int'l Compass) we expected an 8-10% pullback to provide a buying opportunity.
But that all changed last week (4/1/25 Compass and 4/3/25 Int'l Compass), when we downgraded our outlook to bearish/cautious, citing several concerning developments.
Despite the 90-day pause, we remain cautious and we continue to favor defensives as long as the S&amp;P 500 and ACWI-US are below their 200-day MAs.


Still Favor Defensives Until Market Dynamics Improve; EURO STOXX 50 Testing Crucial 5000 Level

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>Nestled in the Saudi Arabian desert, plants and vegetables grow inside a greenhouse constructed with rows of glass panels.</li><li>These cutting-edge panels transform sunshine into electricity, allowing the remote greenhouse to meet all its energy needs.</li><li>This is the vision presented by Chinese company Gaoming Technology Co.</li></ul>

Nestled in the Saudi Arabian desert, plants and vegetables grow inside a greenhouse constructed with rows of glass panels.These cutting-edge panels transform sunshine into electricity, allowing the remote greenhouse to meet all its energy needs.This is the vision presented by Chinese company Gaoming Technology Co.

Saudi Arabia Presents Promising Market for Chinese Green Tech 

<ul><li>Chinese clean-energy companies should increasingly look to Southeast Asia for its abundant resources and growing electric-vehicle (EV) market, experts said, as their prospects in Europe dim amid tighter regulations.</li><li>Chinese companies’ overseas expansion was a key focus at the 2024 ESG and Sustainable Business Ecosystem Conference in Beijing on Friday, where entrepreneurs, investors, scholars and industry experts also explored how artificial intelligence (AI) could help China meet its dual-carbon goals, among other issues.</li><li>“Southeast Asia … has both demographic dividends and rich natural resources,” said Zheng Wendan of Singapore advisory firm Alliance For Good, at the environmental, social and governance (ESG) event, organized by Beijing-based tech firm For Good and the China Business Journal.</li></ul>

Chinese clean-energy companies should increasingly look to Southeast Asia for its abundant resources and growing electric-vehicle (EV) market, experts said, as their prospects in Europe dim amid tighter regulations.Chinese companies’ overseas expansion was a key focus at the 2024 ESG and Sustainable Business Ecosystem Conference in Beijing on Friday, where entrepreneurs, investors, scholars and industry experts also explored how artificial intelligence (AI) could help China meet its dual-carbon goals, among other issues.“Southeast Asia … has both demographic dividends and rich natural resources,” said Zheng Wendan of Singapore advisory firm Alliance For Good, at the environmental, social and governance (ESG) event, organized by Beijing-based tech firm For Good and the China Business Journal.

Southeast Asia Shines as Chinese Clean-Energy Firms’ Traditional Markets Dim  

<ul>
<li>Our long-term bullish outlook (since early-November 2023) remains intact. With that said, we believe a 1-3-month pullback has likely begun.</li>
<li>Supports to watch are at $110 on MSCI ACWI (ACWI-US) and $41-42 on MSCI EM (EEM-US), and whether these levels hold or not will determine the severity of the pullback.</li>
<li>The S&amp;P 500 is violating its 20-day MA, Europe's EURO STOXX 50 is breaking below 4884, and Japan's TOPIX appears to be staging a false breakout at the 2800-2815 level</li>
</ul>


Our long-term bullish outlook (since early-November 2023) remains intact. With that said, we believe a 1-3-month pullback has likely begun.
Supports to watch are at $110 on MSCI ACWI (ACWI-US) and $41-42 on MSCI EM (EEM-US), and whether these levels hold or not will determine the severity of the pullback.
The S&amp;P 500 is violating its 20-day MA, Europe's EURO STOXX 50 is breaking below 4884, and Japan's TOPIX appears to be staging a false breakout at the 2800-2815 level


Pullback Underway; Getting Defensive; Long-Term RS Bottoms for Defensives Is a Reason for Caution

China

China Yangtze Power Company Ltd. owns the Gezhouba Power Station and the Three Gorges Power Station. The Company generates hydroelectric power, which is supplied to central China, east China, Guangdong province, Chongqing city, and other areas.

Price Gauge
52-week Range	0.00 - 0.00
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Dividend (Yield)	0.00

China Yangtze Power Co, Ltd. (600900 CH)

Still Favor Defensives Until Market Dynamics Improve; EURO STOXX 50 Testing Crucial 5000 Level

Still Favor Defensives Until Market Dynamics Improve; EURO $STOXX 50 Testing Crucial 5000 Level; Watch for Resistance at $105-$117.69 on $ACWI. Buy...

Vermilion Research

Saudi Arabia Presents Promising Market for Chinese Green Tech

(Riyadh, Saudi Arabia) — Nestled in the Saudi Arabian desert, plants and vegetables grow inside a greenhouse constructed with rows of glass...

Caixin Global

Southeast Asia Shines as Chinese Clean-Energy Firms’ Traditional Markets Dim

Chinese clean-energy companies should increasingly look to Southeast Asia for its abundant resources and growing electric-vehicle (EV) market,...

Caixin Global

Pullback Underway; Getting Defensive; Long-Term RS Bottoms for Defensives Is a Reason for Caution

Pullback Underway $ACWI $SPX; Getting Defensive; Long-Term RS Bottoms for Defensive Sectors is a Reason for Caution. Buys in Health Care,...

Vermilion Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

A-Share Margin Trading Weekly (Oct 9th): ANHUI JIANGHUAI AUTOMOBILE, SHARETRONIC DATA TECHNOLOGY

We analyzed A-share margin trading positions report for the past week and highlighted ANHUI JIANGHUAI AUTOMOBILE (600418 CH), SHARETRONIC DATA...

Ke Yan, CFA, FRM

Still Favor Defensives Until Market Dynamics Improve; EURO STOXX 50 Testing Crucial 5000 Level

Still Favor Defensives Until Market Dynamics Improve; EURO $STOXX 50 Testing Crucial 5000 Level; Watch for Resistance at $105-$117.69 on $ACWI. Buy...

Vermilion Research

Saudi Arabia Presents Promising Market for Chinese Green Tech

(Riyadh, Saudi Arabia) — Nestled in the Saudi Arabian desert, plants and vegetables grow inside a greenhouse constructed with rows of glass...

Caixin Global

Southeast Asia Shines as Chinese Clean-Energy Firms’ Traditional Markets Dim

Chinese clean-energy companies should increasingly look to Southeast Asia for its abundant resources and growing electric-vehicle (EV) market,...

Caixin Global

Pullback Underway; Getting Defensive; Long-Term RS Bottoms for Defensives Is a Reason for Caution

Pullback Underway $ACWI $SPX; Getting Defensive; Long-Term RS Bottoms for Defensive Sectors is a Reason for Caution. Buys in Health Care,...

Vermilion Research