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Caixin Global

Articles from Caixin Global

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Cross Asset Strategy

<ul><li>Cover Story: Turning research into revenue – China’s quest to bring lab inventions to market</li><li>Peru amends law allowing Cosco Shipping to retain exclusive rights to operate Chancay Port</li><li>In Depth: How Hong Kong could help craft mainland policies for digital assets</li></ul>

Cover Story: Turning research into revenue – China’s quest to bring lab inventions to marketPeru amends law allowing Cosco Shipping to retain exclusive rights to operate Chancay PortIn Depth: How Hong Kong could help craft mainland policies for digital assets

CX Daily: Turning Research Into Revenue – China’s Quest to Bring Lab Inventions to Market 

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>The Quiddity Mainland Connect NORTHBOUND Monitor. Like the A/H Premium Monitor and HK Connect SOUTHBOUND Monitor. Lots of Flows/Position Tables and Charts with which to play.</li>
<li>Last week saw NORTHBOUND net BUY RMB 5.3bn of A-shares on lower gross volumes. NORTHBOUND bought utilities, renewables, and semiconductors, and sold Kweichow Moutai, Midea, Bk Jiangsu, and Wuliangye Yibin.</li>
<li>Ongoing questions as to whether the NORTHBOUND volumes to the buy side are all foreigners. Some suspect there is national team buying mixed in, as was expected from earlier announcements.</li>
</ul>


The Quiddity Mainland Connect NORTHBOUND Monitor. Like the A/H Premium Monitor and HK Connect SOUTHBOUND Monitor. Lots of Flows/Position Tables and Charts with which to play.
Last week saw NORTHBOUND net BUY RMB 5.3bn of A-shares on lower gross volumes. NORTHBOUND bought utilities, renewables, and semiconductors, and sold Kweichow Moutai, Midea, Bk Jiangsu, and Wuliangye Yibin.
Ongoing questions as to whether the NORTHBOUND volumes to the buy side are all foreigners. Some suspect there is national team buying mixed in, as was expected from earlier announcements.


Mainland Connect NORTHBOUND Flows (To 7 June 2024): Large Renewables Buying Drive Small Net Buying

Index Rebal Trades & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal Trades & Special Situations

Index Rebalance

Guangzhou Great Power Ener-A / Index Rebalance

<ul>
<li>The June 2024 index review results for the ChiNext and ChiNext 50 indices were announced yesterday.</li>
<li>There will be seven changes for the ChiNext index and five changes for the ChiNext 50 index. Some of these names surprised us.</li>
<li>In this insight, we take a look at our final flow expectations for the confirmed index changes and our thoughts on the selection process.</li>
</ul>


The June 2024 index review results for the ChiNext and ChiNext 50 indices were announced yesterday.
There will be seven changes for the ChiNext index and five changes for the ChiNext 50 index. Some of these names surprised us.
In this insight, we take a look at our final flow expectations for the confirmed index changes and our thoughts on the selection process.


Quiddity ChiNext/ChiNext 50 Jun 24 Rebalance: ~US$700mn One-Way Flows; Thoughts on Surprises

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 Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of May 31st.</li>
<li>We estimate the weekly outflows to be US$860.8 million, led by consumer staples, financials, health care, and offset by information technology, materials, utilities.</li>
<li>We highlight flows for Zijin Mining, China Yangtze Power, Montage Technology, Moutai, CMB.</li>
</ul>


We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of May 31st.
We estimate the weekly outflows to be US$860.8 million, led by consumer staples, financials, health care, and offset by information technology, materials, utilities.
We highlight flows for Zijin Mining, China Yangtze Power, Montage Technology, Moutai, CMB.


Northbound Flows (May 31st): Zijin Mining, China Yangtze Power, Montage Technology, Moutai, CMB

China Yangtze Power Co, Ltd. / Event-Driven

<ul>
<li>The Quiddity Mainland Connect NORTHBOUND Monitor. Like the A/H Premium Monitor and HK Connect SOUTHBOUND Monitor. Lots of Flows/Position Tables and Charts with which to play.</li>
<li>Last week saw NORTHBOUND net SELL RMB 5.7bn of A-shares on lower gross volumes. NORTHBOUND bought Zijin, Yangtze Power, and renewables and sold SOEs.</li>
<li>Ongoing questions as to whether the NORTHBOUND volumes to the buy side are all foreigners. Some suspect there is national team buying mixed in, as was expected from earlier announcements.</li>
</ul>


The Quiddity Mainland Connect NORTHBOUND Monitor. Like the A/H Premium Monitor and HK Connect SOUTHBOUND Monitor. Lots of Flows/Position Tables and Charts with which to play.
Last week saw NORTHBOUND net SELL RMB 5.7bn of A-shares on lower gross volumes. NORTHBOUND bought Zijin, Yangtze Power, and renewables and sold SOEs.
Ongoing questions as to whether the NORTHBOUND volumes to the buy side are all foreigners. Some suspect there is national team buying mixed in, as was expected from earlier announcements.


Mainland Connect NORTHBOUND Flows (To 31 May 2024): Net Sell Flows on Weak Gross Volumes

Hong Kong

Contemporary Amperex Technology Co., Limited. operates as a battery products manufacturing company. The Company produces and sells power battery materials, energy storage batteries energy storage battery cells, systems, and other products. Contemporary Amperex Technology also provides batteries recycling services.

Contemporary Amperex Technology (CATL) (3750 HK)

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Contemporary Amperex Technology (CATL) (3750 HK)

CX Daily: Turning Research Into Revenue – China’s Quest to Bring Lab Inventions to Market

Cover Story: Turning research into revenue – China’s quest to bring lab inventions to market. Peru amends law allowing Cosco Shipping to retain...

Caixin Global

Mainland Connect NORTHBOUND Flows (To 7 June 2024): Large Renewables Buying Drive Small Net Buying

NORTHBOUND saw net buying this week. Large caps saw net selling but semiconductor names see ongoing buying. I expect semicaps will continue to see...

Travis Lundy

Quiddity ChiNext/ChiNext 50 Jun 24 Rebalance: ~US$700mn One-Way Flows; Thoughts on Surprises

ChiNext and ChiNext 50 "double" DEL Guangzhou Great Power Energy could underperform peers CATL and Gotion High-tec until the Inclusion event.

Janaghan Jeyakumar, CFA

Northbound Flows (May 31st): Zijin Mining, China Yangtze Power, Montage Technology, Moutai, CMB

We analyzed northbound Shanghai/Shenzhen connect flows in the past week and highlight flows for Zijin Mining, China Yangtze Power, Montage...

Ke Yan, CFA, FRM

Mainland Connect NORTHBOUND Flows (To 31 May 2024): Net Sell Flows on Weak Gross Volumes

NORTHBOUND Connect sees net selling again to end the month of May. Zijin and Yangtze Power and a host of renewables-related companies on the buy...

Travis Lundy

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