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 monthly Hong Kong Connect flows with our data engine.</li>
<li>We tabulate the top stocks by inflows, outflows, and holding by mainland investors.</li>
<li>We highlight flows of Alibaba, Tencent, Meituan, China Life, HSTECH ETF.</li>
</ul>


We analyze the monthly Hong Kong Connect flows with our data engine.
We tabulate the top stocks by inflows, outflows, and holding by mainland investors.
We highlight flows of Alibaba, Tencent, Meituan, China Life, HSTECH ETF.


Hong Kong Connect Flows (August): $18bn Inflows

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of August 29th.</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 Meituan, Alibaba, Tencent, AIA, Pop Mart Intl, Kuaishou, SMIC, Xiaomi, CNOOC.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of August 29th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Meituan, Alibaba, Tencent, AIA, Pop Mart Intl, Kuaishou, SMIC, Xiaomi, CNOOC.


HK Connect Flows Weekly (Aug 29th): Meituan, Alibaba, Tencent, AIA, Pop Mart Intl, Kuaishou, SMIC

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Gross SOUTHBOUND volumes US$20+bn a day this past 5-day week. Net buying much more limited. Big ETF buying turned into ETF selling and tech buying, as suggested. </li>
<li>Last week's reco <a href="https://www.smartkarma.com/entities/tencent-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26:1" rel="noopener">Tencent (700 HK)</a> was the top net buy in SOUTHBOUND this past week, up 2.2%, outperforming major HK benchmarks.</li>
<li>The data tables below update on a daily basis 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 SK readers.</li>
</ul>


Gross SOUTHBOUND volumes US$20+bn a day this past 5-day week. Net buying much more limited. Big ETF buying turned into ETF selling and tech buying, as suggested. 
Last week's reco Tencent (700 HK) was the top net buy in SOUTHBOUND this past week, up 2.2%, outperforming major HK benchmarks.
The data tables below update on a daily basis in the Tools section of Smartkarma. The SOUTHBOUND Flow Monitor and AH Pairs Monitor are both there free for SK readers.


HK Connect SOUTHBOUND Flows (To 22 Aug 2025); Big Swing Out of ETFs Into Tech Realised

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of August 22nd.</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 China Life, Tencent, Alibaba, Kuaishou, AIA, Li Auto, Anta, Geely Automobile.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of August 22nd.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for China Life, Tencent, Alibaba, Kuaishou, AIA, Li Auto, Anta, Geely Automobile.


HK Connect Flows Weekly (Aug 22nd): China Life, Tencent, Alibaba, Kuaishou, AIA, Li Auto, Anta

<ul>
<li>Gross SOUTHBOUND volumes over US$19+bn a day this past 5-day week. Net buying OK at just under +US$1bn/day. Significantly, there was huge net buying of ETFs.</li>
<li>Last week's reco <a href="https://www.smartkarma.com/entities/guangzhou-automobile-group-co-ltd" target="_blank" data-smartkarma-citation="entities:11082:1" rel="noopener">Guangzhou Automobile Group (2238 HK)</a> was up 4.4% on the week, +3.1% from Monday's close to Friday. +3.9% gain on the H/A pair.</li>
<li>The data tables below update on a daily basis 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 SK readers.</li>
</ul>


Gross SOUTHBOUND volumes over US$19+bn a day this past 5-day week. Net buying OK at just under +US$1bn/day. Significantly, there was huge net buying of ETFs.
Last week's reco Guangzhou Automobile Group (2238 HK) was up 4.4% on the week, +3.1% from Monday's close to Friday. +3.9% gain on the H/A pair.
The data tables below update on a daily basis in the Tools section of Smartkarma. The SOUTHBOUND Flow Monitor and AH Pairs Monitor are both there free for SK readers.


HK Connect SOUTHBOUND Flows (To 15 Aug 2025); Big Swing Into ETFs Likely Means Swing to Tech This Wk

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.

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CSOP Hang Seng Tech Index ETF (3033 HK)

Hong Kong Connect Flows (August): $18bn Inflows

We estimate inflows into HK via southbound trade were $18bn in August, at four month high. We highlight inflows for Alibaba, Tencent, Meituan, and...

Ke Yan, CFA, FRM

HK Connect Flows Weekly (Aug 29th): Meituan, Alibaba, Tencent, AIA, Pop Mart Intl, Kuaishou, SMIC

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Meituan, Alibaba, Tencent, AIA, Pop Mart Intl, Kuaishou,...

Ke Yan, CFA, FRM

HK Connect SOUTHBOUND Flows (To 22 Aug 2025); Big Swing Out of ETFs Into Tech Realised

SOUTHBOUND volumes very big at US$20bn a day. NET buying limited at US$400mm a day average. Hang Seng Rebals announced, as expected. Horizon...

Travis Lundy

HK Connect Flows Weekly (Aug 22nd): China Life, Tencent, Alibaba, Kuaishou, AIA, Li Auto, Anta

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for China Life, Tencent, Alibaba, Kuaishou, AIA, Li Auto,...

Ke Yan, CFA, FRM

HK Connect SOUTHBOUND Flows (To 15 Aug 2025); Big Swing Into ETFs Likely Means Swing to Tech This Wk

SOUTHBOUND Connect volumes were quite large again this week at nearly $100bn USD. The big flows on the buy side were in ETFs suggesting allocation...

Travis Lundy

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