Transport Sector, China and Asia-focused Research

Charles De Trenck

Thematic (Sector/Industry)

I recently had occasion to update my thinking on China, its massive waste generation in the last 10-15 years, and Chinese Communist Party members as major beneficiaries of this massive waste, and therefore also the continued need for Xi Jinping to keep cleaning up the more blatant instances of corruption and wealth transfer. The commodities boom of &lsquo;00s proved to be backed by a massive wave of over-production, waste and a social movement to self-enrichment by the privileged class of China. President Xi Jinping in many ways is now contributing to lower commodity prices as a byproduct of his crackdown. There is a twist, though. Not only does this piece make a link between Chinese Corruption and massive waste, but it also puts in its conclusions a couple of directional political Catch-22s President Xi may face.&nbsp;

I recently had occasion to update my thinking on China, its massive waste generation in the last 10-15 years, and Chinese Communist Party members as major beneficiaries of this massive waste, and therefore also the continued need for Xi Jinping to keep cleaning up the more blatant instances of corruption and wealth transfer. The commodities boom of &lsquo;00s proved to be backed by a massive wave of over-production, waste and a social movement to self-enrichment by the privileged class of China. President Xi Jinping in many ways is now contributing to lower commodity prices as a byproduct of his crackdown. There is a twist, though. Not only does this piece make a link between Chinese Corruption and massive waste, but it also puts in its conclusions a couple of directional political Catch-22s President Xi may face.&nbsp;

Implications and Fallout from Absolute Corruption of the Political Elite

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>In the past two weeks we have had higher Southbound volumes, averaging US$18bn a day for the past ten days. The past week saw BIG inflows. The week before negative.</li>
<li>ETFs are seeing a LOT of two-way trade on certain days. Often, inbound ETF flows turn into single stock buying on the follow. "China-in-the-name" names are getting sold.</li>
<li>The data tables below update daily in the <a href="https://www.smartkarma.com/tools" target="_blank" rel="noopener">Tools</a> section of Smartkarma. The <a href="https://www.smartkarma.com/tools/quiddity/south-flow-monitor" target="_blank" rel="noopener">Southbound Flow Monitor</a> and <a href="https://www.smartkarma.com/tools/quiddity/ah-shares-monitor" target="_blank" rel="noopener">AH Pairs Monitor</a> are both there - free for all SK readers. Recently used tools are now sticky.</li>
</ul>


In the past two weeks we have had higher Southbound volumes, averaging US$18bn a day for the past ten days. The past week saw BIG inflows. The week before negative.
ETFs are seeing a LOT of two-way trade on certain days. Often, inbound ETF flows turn into single stock buying on the follow. "China-in-the-name" names are getting sold.
The data tables below update daily in the Tools section of Smartkarma. The Southbound Flow Monitor and AH Pairs Monitor are both there - free for all SK readers. Recently used tools are now sticky.


HK Connect SOUTHBOUND Flows (2 Wks to 13Mar2026) - Higher Volumes, Lots of ETF Trading, Net Inflows

Director, Head of Research, Smartkarma

Pranav Rao

Director, Head of Research

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

<ul>
<li>Welcome to Curator’s Cut - a fortnightly roundup of standout themes from the 1,300+ insights published on Smartkarma.</li>
<li>In this cut, we review the outlook for energy markets amid the Persian Gulf conflict, highlight coverage of gold miners large and small, and identify opportunities in Japanese financials.</li>
<li>Want to dig deeper? Comment or message with the themes you’d like to see highlighted next.</li>
</ul>


Welcome to Curator’s Cut - a fortnightly roundup of standout themes from the 1,300+ insights published on Smartkarma.
In this cut, we review the outlook for energy markets amid the Persian Gulf conflict, highlight coverage of gold miners large and small, and identify opportunities in Japanese financials.
Want to dig deeper? Comment or message with the themes you’d like to see highlighted next.


Curator's Cut: Crude Reality, Reshuffling Gold Miners & Banking on Japanese Fintech

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

DZT Research

DZT 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 178 stocks over the last week. The average A-H premium was 70.2% as of Mar 13th.</li>
<li>The average A-H premium changed by 3.2ppt week-on-week, led by industrials, real estate, communication services and offset by information technology.</li>
<li>We highlight weekly changes in A-H premium for CNOOC, BYD, Great Wall Motor, Crrc, CATL, Huaneng Power International.</li>
</ul>


We analyse the changes of A-H premium on 178 stocks over the last week. The average A-H premium was 70.2% as of Mar 13th.
The average A-H premium changed by 3.2ppt week-on-week, led by industrials, real estate, communication services and offset by information technology.
We highlight weekly changes in A-H premium for CNOOC, BYD, Great Wall Motor, Crrc, CATL, Huaneng Power International.


A-H Premium Weekly (Mar 13th): CNOOC, BYD, Great Wall Motor, Crrc, CATL, Huaneng Power International

<ul>
<li>We analyse the changes of A-H premium on 176 stocks over the last week. The average A-H premium was 67.7% as of Mar 6th.</li>
<li>The average A-H premium changed by 1.0ppt week-on-week, led by materials, energy, financials and offset by communication services, utilities, health care.</li>
<li>We highlight weekly changes in A-H premium for Sinopec, COSCO Shipping Energy, China Coal Energy, CNOOC, China Oilfield Services, BYD.</li>
</ul>


We analyse the changes of A-H premium on 176 stocks over the last week. The average A-H premium was 67.7% as of Mar 6th.
The average A-H premium changed by 1.0ppt week-on-week, led by materials, energy, financials and offset by communication services, utilities, health care.
We highlight weekly changes in A-H premium for Sinopec, COSCO Shipping Energy, China Coal Energy, CNOOC, China Oilfield Services, BYD.


A-H Premium Weekly (Mar 6th): Sinopec, COSCO Shipping Energy, China Coal Energy, CNOOC

China

COSCO SHIPPING Energy Transportation is a specialized company primarily engaged in the global shipment of energy, including crude oil, refined oil products, liquefied natural gas (LNG), and liquefied petroleum gas (LPG). It also provides vessel chartering and shipping agency services. The company is headquartered in Shanghai, China, and was established in 2016.

COSCO SHIPPING Energy Transportation (1138 HK)

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

COSCO SHIPPING Energy Transportation (1138 HK)

Implications and Fallout from Absolute Corruption of the Political Elite

I recently had occasion to update my thinking on China, its massive waste generation in the last 10-15 years, and Chinese Communist Party members...

Charles De Trenck

HK Connect SOUTHBOUND Flows (2 Wks to 13Mar2026) - Higher Volumes, Lots of ETF Trading, Net Inflows

Southbound volumes are up. SOEs are getting sold. ETFs, Consumer Discretionary, and Tech are getting bought. Tis the season.

Travis Lundy

Curator's Cut: Crude Reality, Reshuffling Gold Miners & Banking on Japanese Fintech

This Curator's Cut highlights energy market outlook, gold miners coverage, and opportunities in Japanese financials from Smartkarma insights....

Pranav Rao

A-H Premium Weekly (Mar 13th): CNOOC, BYD, Great Wall Motor, Crrc, CATL, Huaneng Power International

We analyzed A-H premium changes in the past week and highlight A-H premium changes for CNOOC, BYD, Great Wall Motor, Crrc, CATL, Huaneng Power...

Ke Yan, CFA, FRM

A-H Premium Weekly (Mar 6th): Sinopec, COSCO Shipping Energy, China Coal Energy, CNOOC

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Sinopec, COSCO Shipping Energy, China Coal Energy, CNOOC,...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Implications and Fallout from Absolute Corruption of the Political Elite

I recently had occasion to update my thinking on China, its massive waste generation in the last 10-15 years, and Chinese Communist Party members...

Charles De Trenck

HK Connect SOUTHBOUND Flows (2 Wks to 13Mar2026) - Higher Volumes, Lots of ETF Trading, Net Inflows

Southbound volumes are up. SOEs are getting sold. ETFs, Consumer Discretionary, and Tech are getting bought. Tis the season.

Travis Lundy

Curator's Cut: Crude Reality, Reshuffling Gold Miners & Banking on Japanese Fintech

​This Curator's Cut highlights energy market outlook, gold miners coverage, and opportunities in Japanese financials from Smartkarma insights....

Pranav Rao

A-H Premium Weekly (Mar 13th): CNOOC, BYD, Great Wall Motor, Crrc, CATL, Huaneng Power International

We analyzed A-H premium changes in the past week and highlight A-H premium changes for CNOOC, BYD, Great Wall Motor, Crrc, CATL, Huaneng Power...

Ke Yan, CFA, FRM

A-H Premium Weekly (Mar 6th): Sinopec, COSCO Shipping Energy, China Coal Energy, CNOOC

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Sinopec, COSCO Shipping Energy, China Coal Energy, CNOOC,...

Ke Yan, CFA, FRM

This Curator's Cut highlights energy market outlook, gold miners coverage, and opportunities in Japanese financials from Smartkarma insights....