HK/China Equity Long-Short

Osbert Tang, CFA

Thematic (Sector/Industry)

<ul>
<li>Following Trump's threats on tariffs and pull-out of meeting with Xi, the 5% collapse in the HSI futures implies a heavy sell-off in HK when the market reopens.</li>
<li>The stocks with the best YTD performance and significant strengths in the last month are the prime candidates most vulnerable to the initial collapse. </li>
<li>
<a href="https://www.smartkarma.com/entities/semiconductor-manufacturing-international-corp-smic" target="_blank" data-smartkarma-citation="entities:14231:1" rel="noopener">Semiconductor Manufacturing International Corp (SMIC) (981 HK)</a>, <a href="https://www.smartkarma.com/entities/kuaishou-technology" target="_blank" data-smartkarma-citation="entities:29725:1" rel="noopener">Kuaishou Technology (1024 HK)</a>, <a href="https://www.smartkarma.com/entities/alibaba-group-holding-ltd-d7b798e2-202d-4e01-9a1e-799e2ae8f0c7" target="_blank" data-smartkarma-citation="entities:28434:1" rel="noopener">Alibaba (9988 HK)</a>, and <a href="https://www.smartkarma.com/entities/hua-hong-semiconductor-ltd" target="_blank" data-smartkarma-citation="entities:7201:1" rel="noopener">Hua Hong Semiconductor (1347 HK)</a> are badly exposed.</li>
</ul>


Following Trump's threats on tariffs and pull-out of meeting with Xi, the 5% collapse in the HSI futures implies a heavy sell-off in HK when the market reopens.
The stocks with the best YTD performance and significant strengths in the last month are the prime candidates most vulnerable to the initial collapse. 

Semiconductor Manufacturing International Corp (SMIC) (981 HK), Kuaishou Technology (1024 HK), Alibaba (9988 HK), and Hua Hong Semiconductor (1347 HK) are badly exposed.


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>Tariffs / In Depth: How China can counter Trump’s tariffs The potential impact of U.S.</li><li>Data /Analysis: Why China’s tax revenue is falling even as GDP jumps</li><li>Service /: China expands pilot to liberalize service sector amid trade tensions</li></ul>

Tariffs / In Depth: How China can counter Trump’s tariffs The potential impact of U.S.Data /Analysis: Why China’s tax revenue is falling even as GDP jumpsService /: China expands pilot to liberalize service sector amid trade tensions

CX Daily: How China Can Counter Trump’s Tariffs 

<ul><li>Temasek /: Why Temasek is steering clear of China’s generative AI stock frenzy for now</li><li>Kissinger /: Xi praises Kissinger’s ‘historic contribution’ to U.S.-China ties</li><li>Private /: China vows to create a ‘bigger, better, and stronger’ private sector</li></ul>

Temasek /: Why Temasek is steering clear of China’s generative AI stock frenzy for nowKissinger /: Xi praises Kissinger’s ‘historic contribution’ to U.S.-China tiesPrivate /: China vows to create a ‘bigger, better, and stronger’ private sector

CX Daily: Why Temasek Is Steering Clear of China’s Generative AI Stock Frenzy for Now

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 Aug 14th. The aggregated net margin trading position is USD357,520m.</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 SHANGHAI GENTECH, TCL, JIANGSU HENGRUI MEDICINE, CSSC, CMOC.</li>
</ul>


We analyzed the changes in margin trading positions of A-share stocks as of Aug 14th. The aggregated net margin trading position is USD357,520m.
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 SHANGHAI GENTECH, TCL, JIANGSU HENGRUI MEDICINE, CSSC, CMOC.


A-Share Margin Trading Weekly (Aug 14th): SHANGHAI GENTECH, TCL, JIANGSU HENGRUI MEDICINE, CSSC

Equity Derivatives and Volatility Specialist, Clifton Derivatives

John Ley

Equity Derivatives and Volatility Specialist

Clifton Derivatives

Independent derivative and volatility research firm focusing on events/catalysts, earnings, relative value and cross asset volatility strategies.

Equity Derivatives

<ul>
<li>Hong Kong equities paused after a strong run, with market breadth weakening despite a continued upside skew in individual stock returns.</li>
<li>Single stock option activity fell sharply, with weaker Call trading accounting for much of the decline.</li>
<li>HSI implied volatility remains subdued relative to its recent history, while single stock implied vols remain comparatively elevated.</li>
</ul>


Hong Kong equities paused after a strong run, with market breadth weakening despite a continued upside skew in individual stock returns.
Single stock option activity fell sharply, with weaker Call trading accounting for much of the decline.
HSI implied volatility remains subdued relative to its recent history, while single stock implied vols remain comparatively elevated.


Hong Kong Single Stock Options Weekly Aug 03–07: Day-Of-Week Pattern Emerges as Volumes and Vol Fall

China

CMOC Group Limited is a Chinese mining company engaged in the mining, beneficiation, smelting, and refining of base and rare metals, as well as mineral trading. It is a world-leading producer of copper, cobalt, molybdenum, tungsten, and niobium, and a leading producer of phosphate fertilizer. The company is headquartered in Luoyang, Henan, People's Republic of China, and was founded in 1969.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
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CMOC (3993 HK)

HK Strategy: Who Will Suffer the Most?

Trump's tariff threats and market uncertainty lead to a potential heavy sell-off in HK, with top-performing stocks like SMIC, Kuaishou, Alibaba,...

Osbert Tang, CFA

CX Daily: How China Can Counter Trump’s Tariffs

TOP STORY Tariffs / In Depth: How China can counter Trump’s tariffs The potential impact of U. S. President Donald Trump’s “reciprocal tariffs”...

Caixin Global

CX Daily: Why Temasek Is Steering Clear of China’s Generative AI Stock Frenzy for Now

Temasek /: Why Temasek is steering clear of China’s generative AI stock frenzy for now Kissinger /: Xi praises Kissinger’s ‘historic contribution’...

Caixin Global

Hong Kong Single Stock Options Weekly Aug 03–07: Day-Of-Week Pattern Emerges as Volumes and Vol Fall

A weaker week for Hong Kong equities brought softer option activity and implied vols, while the recurring weakness later in the trading week...

John Ley

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

HK Strategy: Who Will Suffer the Most?

​Trump's tariff threats and market uncertainty lead to a potential heavy sell-off in HK, with top-performing stocks like SMIC, Kuaishou, Alibaba,...

Osbert Tang, CFA

CX Daily: How China Can Counter Trump’s Tariffs

TOP STORY Tariffs / In Depth: How China can counter Trump’s tariffs The potential impact of U. S. President Donald Trump’s “reciprocal tariffs”...

Caixin Global

CX Daily: Why Temasek Is Steering Clear of China’s Generative AI Stock Frenzy for Now

Temasek /: Why Temasek is steering clear of China’s generative AI stock frenzy for now Kissinger /: Xi praises Kissinger’s ‘historic contribution’...

Caixin Global

A-Share Margin Trading Weekly (Aug 14th): SHANGHAI GENTECH, TCL, JIANGSU HENGRUI MEDICINE, CSSC

We analyzed A-share margin trading positions report for the past week and highlighted SHANGHAI GENTECH, TCL, JIANGSU HENGRUI MEDICINE, CSSC, CMOC.

Ke Yan, CFA, FRM

Hong Kong Single Stock Options Weekly Aug 03–07: Day-Of-Week Pattern Emerges as Volumes and Vol Fall

A weaker week for Hong Kong equities brought softer option activity and implied vols, while the recurring weakness later in the trading week...

John Ley

Trump's tariff threats and market uncertainty lead to a potential heavy sell-off in HK, with top-performing stocks like SMIC, Kuaishou, Alibaba,...