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 Hong Kong Connect flows with our data engine for holding position as of August 2nd.</li>
<li>The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.</li>
<li>We highlight flows for Tencent, China Petroleum &amp; Chemical Corporation, BOC, Power Assets, HSBC, China Mobile.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of August 2nd.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Tencent, China Petroleum &amp; Chemical Corporation, BOC, Power Assets, HSBC, China Mobile.


Hong Kong Connect Flows (Aug 2nd): Tencent, China Petroleum & Chemical Corporation, Power Assets

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>SOUTHBOUND was again a net buyer, for HK$9.2bn this week (now 26wks in a row of net buying), on smallish two-way volumes.</li>
<li>I've thought national team was buying banks for months. They were gone for a couple of weeks. Feels like they are back. </li>
<li>There were three ETFs in the top five SOUTHBOUND sells this past week, reversing last week. Energy, Utilities, Telecoms bought. </li>
</ul>


SOUTHBOUND was again a net buyer, for HK$9.2bn this week (now 26wks in a row of net buying), on smallish two-way volumes.
I've thought national team was buying banks for months. They were gone for a couple of weeks. Feels like they are back. 
There were three ETFs in the top five SOUTHBOUND sells this past week, reversing last week. Energy, Utilities, Telecoms bought. 


HK Connect SOUTHBOUND Flows (To 2 Aug 2024); ETFs Get Sold; Tencent, SOEs, Utilities Bought

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of July 26th.</li>
<li>The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.</li>
<li>We highlight flows for Tencent, China Petroleum &amp; Chemical Corporation, Meituan.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of July 26th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Tencent, China Petroleum &amp; Chemical Corporation, Meituan.


Hong Kong Connect Flows (Jul 26th): Tencent, China Petroleum & Chemical Corporation, Meituan

<ul>
<li>SOUTHBOUND was again a net buyer for HK$29.7bn on small two-way volumes. <a href="https://www.smartkarma.com/entities/bank-of-china-ltd-h" target="_blank" data-smartkarma-citation="entities:656:1" rel="noopener">Bank Of China Ltd (H) (3988 HK)</a> dropped to #4 this week but SOE buying dominated.</li>
<li>It is not clear how much of this is H/A discounts, expected dividend tax removal, and the KPIs for SOE CEOs to raise prices and payout ratios, but it continues.</li>
<li>Valuations are acceptable. Flows are good. Policy changes are afoot. SOUTHBOUND may continue to see inflows - national team and otherwise.</li>
</ul>


SOUTHBOUND was again a net buyer for HK$29.7bn on small two-way volumes. Bank Of China Ltd (H) (3988 HK) dropped to #4 this week but SOE buying dominated.
It is not clear how much of this is H/A discounts, expected dividend tax removal, and the KPIs for SOE CEOs to raise prices and payout ratios, but it continues.
Valuations are acceptable. Flows are good. Policy changes are afoot. SOUTHBOUND may continue to see inflows - national team and otherwise.


HK Connect SOUTHBOUND Flows (To 31 May 2024); Private Tech, Energy/Financial SOEs See BIG Net Buys

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of April 3rd.</li>
<li>The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.</li>
<li>We highlight flows for Tencent Holdings, Bank Of China, Xiaomi.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of April 3rd.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Tencent Holdings, Bank Of China, Xiaomi.


Hong Kong Connect Flows (Apr 3rd): Tencent, Bank Of China, Xiaomi

Hong Kong

CSOP Hang Seng TECH Index ETF is an exchange-traded fund incorporated in the HK. The Sub-Fund will primarily use a full replication strategy to provide investment results that, before deduction of fees and expenses, closely correspond to the performance of the Hang Seng TECH Index.

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

CSOP Hang Seng Tech Index ETF (3033 HK)

Hong Kong Connect Flows (Aug 2nd): Tencent, China Petroleum & Chemical Corporation, Power Assets

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Tencent, China Petroleum & Chemical Corporation, BOC,...

Ke Yan, CFA, FRM

HK Connect SOUTHBOUND Flows (To 2 Aug 2024); ETFs Get Sold; Tencent, SOEs, Utilities Bought

SOUTHBOUND flows for HK Connect were to the net buy side for the 26th week in a row. SOEs in Energy, Telcos, and Utilities were strong. Banks too....

Travis Lundy

Hong Kong Connect Flows (Jul 26th): Tencent, China Petroleum & Chemical Corporation, Meituan

We analyzed southbound Hong Kong connect flows in the past week and highlight flows for Tencent, China Petroleum & Chemical Corporation, Meituan.

Ke Yan, CFA, FRM

HK Connect SOUTHBOUND Flows (To 31 May 2024); Private Tech, Energy/Financial SOEs See BIG Net Buys

HK SOUTHBOUND Connect sees big flows, yet again, and net buying every day, yet again. This week was Energy and Finance SOEs but every sector saw...

Travis Lundy

Hong Kong Connect Flows (Apr 3rd): Tencent, Bank Of China, Xiaomi

We analyzed southbound Hong Kong connect flows in the past week and highlight flows for Tencent Holdings, Bank Of China, Xiaomi.

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)