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 162 stocks over the last week. The average A-H premium was 69.1% as of Jan 2nd.</li>
<li>The average A-H premium changed by 1.3ppt week-on-week, led by consumer staples, materials, health care and offset by consumer discretionary.</li>
<li>We highlight weekly changes in A-H premium for Goldwind, Jiangxi Copper, Fudan Microelectronics, Guangzhou Automobile, Zijin Mining, Cmoc.</li>
</ul>


We analyse the changes of A-H premium on 162 stocks over the last week. The average A-H premium was 69.1% as of Jan 2nd.
The average A-H premium changed by 1.3ppt week-on-week, led by consumer staples, materials, health care and offset by consumer discretionary.
We highlight weekly changes in A-H premium for Goldwind, Jiangxi Copper, Fudan Microelectronics, Guangzhou Automobile, Zijin Mining, Cmoc.


A-H Premium Weekly (Jan 2nd): Goldwind, Jiangxi Copper, Fudan Microelectronics, Guangzhou Automobile

<ul>
<li>We analyse the changes of A-H premium on 160 stocks over the last week. The average A-H premium was 63.7% as of Dec 12th.</li>
<li>The average A-H premium changed by 1.1ppt week-on-week, led by real estate, energy, information technology and offset by communication services.</li>
<li>We highlight weekly changes in A-H premium for MCC, China Merchants Securities, Chongqing Rural Commercial Bank, CNOOC, Cgn Power, Baiyunshan Pharma.</li>
</ul>


We analyse the changes of A-H premium on 160 stocks over the last week. The average A-H premium was 63.7% as of Dec 12th.
The average A-H premium changed by 1.1ppt week-on-week, led by real estate, energy, information technology and offset by communication services.
We highlight weekly changes in A-H premium for MCC, China Merchants Securities, Chongqing Rural Commercial Bank, CNOOC, Cgn Power, Baiyunshan Pharma.


A-H Premium Weekly (Dec 12th): MCC, China Merchants Securities, Chongqing Rural Commercial Bank

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Index Rebalance

Kuang-Chi Technologies   / Index Rebalance

<ul>
<li>There are 11 changes for the <a href="https://www.smartkarma.com/entities/shanghai-shenzhen-csi-300-index" target="_blank" data-smartkarma-citation="entities:22906:1" rel="noopener">Shanghai Shenzhen CSI 300 Index (SHSZ300 INDEX)</a> with implementation taking place at the close on 12 December.</li>
<li>Nearly all the changes are in line with forecasts. <a href="https://www.smartkarma.com/entities/jiangsu-zhongtian-technologies-co-ltd" target="_blank" data-smartkarma-citation="entities:12699:1" rel="noopener">Jiangsu Zhongtian Technologies Co, Ltd. (600522 CH)</a> is the one surprise addition.</li>
<li>The adds outperformed the deletes and the <a href="https://www.smartkarma.com/entities/shanghai-shenzhen-csi-300-index" target="_blank" data-smartkarma-citation="entities:22906:1" rel="noopener">CSI300</a> from June-September but have given back a chunk of the gains since then. Expect positioning to build over the next few days.</li>
</ul>


There are 11 changes for the Shanghai Shenzhen CSI 300 Index (SHSZ300 INDEX) with implementation taking place at the close on 12 December.
Nearly all the changes are in line with forecasts. Jiangsu Zhongtian Technologies Co, Ltd. (600522 CH) is the one surprise addition.
The adds outperformed the deletes and the CSI300 from June-September but have given back a chunk of the gains since then. Expect positioning to build over the next few days.


CSI300 Index Rebalance: 11 Changes & US$7.77bn Trade

<ul>
<li>We analyse the changes of A-H premium on 160 stocks over the last week. The average A-H premium was 62.9% as of Nov 28th.</li>
<li>The average A-H premium changed by -0.9ppt week-on-week, led by industrials, energy and offset by real estate, information technology, communication services.</li>
<li>We highlight weekly changes in A-H premium for Guangzhou Automobile, China Everbright Bank, China Southern Airlines, Cig Shanghai.</li>
</ul>


We analyse the changes of A-H premium on 160 stocks over the last week. The average A-H premium was 62.9% as of Nov 28th.
The average A-H premium changed by -0.9ppt week-on-week, led by industrials, energy and offset by real estate, information technology, communication services.
We highlight weekly changes in A-H premium for Guangzhou Automobile, China Everbright Bank, China Southern Airlines, Cig Shanghai.


A-H Premium Weekly (Nov 28th): Guangzhou Automobile, China Everbright Bank, China Southern Airlines

<ul>
<li>We analyse the changes of A-H premium on 160 stocks over the last week. The average A-H premium was 61.1% as of Nov 14th.</li>
<li>The average A-H premium changed by -0.4ppt week-on-week, led by consumer staples, materials, information technology and offset by real estate, energy, utilities.</li>
<li>We highlight weekly changes in A-H premium for Ganfeng Lithium, Baiyunshan Pharma, China Life, CATL, ABC.</li>
</ul>


We analyse the changes of A-H premium on 160 stocks over the last week. The average A-H premium was 61.1% as of Nov 14th.
The average A-H premium changed by -0.4ppt week-on-week, led by consumer staples, materials, information technology and offset by real estate, energy, utilities.
We highlight weekly changes in A-H premium for Ganfeng Lithium, Baiyunshan Pharma, China Life, CATL, ABC.


A-H Premium Weekly (Nov 14th): Ganfeng Lithium, Baiyunshan Pharma, China Life, CATL, ABC

China

Guangzhou Baiyunshan Pharmaceutical Holdings Co., Ltd. manufactures and sells Chinese patent medicine. The Company also wholesales, retails, imports, and exports Western and Chinese pharmaceutical products and various medical apparatus.

Guangzhou Baiyunshan Pharmaceu (600332 CH)

Price Gauge
52-week Range	0.00 - 0.00
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Dividend (Yield)	0.00

Guangzhou Baiyunshan Pharmaceu (600332 CH)

A-H Premium Weekly (Jan 2nd): Goldwind, Jiangxi Copper, Fudan Microelectronics, Guangzhou Automobile

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Goldwind, Jiangxi Copper, Fudan Microelectronics, Guangzhou...

Ke Yan, CFA, FRM

A-H Premium Weekly (Dec 12th): MCC, China Merchants Securities, Chongqing Rural Commercial Bank

We analyzed A-H premium changes in the past week and highlight A-H premium changes for MCC, China Merchants Securities, Chongqing Rural Commercial...

Ke Yan, CFA, FRM

CSI300 Index Rebalance: 11 Changes & US$7.77bn Trade

There are 11 changes for the CSI300 Index in Dec. Not too many surprises. Estimated turnover is 2.2% leading to a round-trip trade of US$7.77bn....

Brian Freitas

A-H Premium Weekly (Nov 28th): Guangzhou Automobile, China Everbright Bank, China Southern Airlines

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Guangzhou Automobile, China Everbright Bank, China Southern...

Ke Yan, CFA, FRM

A-H Premium Weekly (Nov 14th): Ganfeng Lithium, Baiyunshan Pharma, China Life, CATL, ABC

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Ganfeng Lithium, Baiyunshan Pharma, China Life, CATL, ABC.

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)