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 inflows into Alibaba, Tencent, Xiaomi, CCB, Ping An, and outflows from PICC P&amp;C, BYD, CNOOC.</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 inflows into Alibaba, Tencent, Xiaomi, CCB, Ping An, and outflows from PICC P&amp;C, BYD, CNOOC.


Hong Kong Connect Flows (November): Top Monthly Inflows in 12 Months

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>SOUTHBOUND gross trading activity dropped sharply again to the lowest in a few months but net SOUTHBOUND buying remains very strong, with big flows on tech.</li>
<li>Most of the top names were tech names - both in gross and net buys. Only 1 tech name in top five net sells.</li>
<li>Last week I said I expect HK-listed tech to continue getting bought. Alibaba, Tencent, Xiaomi, etc are safe havens against Trump tariffs as they don't compete in the US. Continue.</li>
</ul>


SOUTHBOUND gross trading activity dropped sharply again to the lowest in a few months but net SOUTHBOUND buying remains very strong, with big flows on tech.
Most of the top names were tech names - both in gross and net buys. Only 1 tech name in top five net sells.
Last week I said I expect HK-listed tech to continue getting bought. Alibaba, Tencent, Xiaomi, etc are safe havens against Trump tariffs as they don't compete in the US. Continue.


HK Connect SOUTHBOUND Flows (To 29 Nov 2024); SB Trading Volumes Lower, Still Strong Net Buying Tech

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of November 15th.</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 Alibaba, Xiaomi, SMIC, Tencent, Ping An Insurance, HKEx, CNOOC.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of November 15th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Alibaba, Xiaomi, SMIC, Tencent, Ping An Insurance, HKEx, CNOOC.


Hong Kong Connect Flows (Nov 15th): Alibaba, Xiaomi, SMIC, Tencent, Ping An Insurance, HKEx, CNOOC

<ul>
<li>SOUTHBOUND gross trading activity still high. Net buying very strong. 7 names traded more than US$1bn. Last week I said tech would continue to be bought. It was.</li>
<li>The trend continues to net sales of ETFs and high div SOEs. Net buying is very, very broad-based. <a href="https://www.smartkarma.com/entities/tracker-fund-of-hong-kong-ltd" target="_blank" data-smartkarma-citation="entities:29257:1" rel="noopener">Tracker Fund of Hong Kong (2800 HK)</a> is batted around like crazy.</li>
<li>I expect HK-listed tech to <em>continue</em> getting bought. Alibaba, Tencent, Xiaomi, etc are safe havens against Trump tariffs as they don't compete in the US.</li>
</ul>


SOUTHBOUND gross trading activity still high. Net buying very strong. 7 names traded more than US$1bn. Last week I said tech would continue to be bought. It was.
The trend continues to net sales of ETFs and high div SOEs. Net buying is very, very broad-based. Tracker Fund of Hong Kong (2800 HK) is batted around like crazy.
I expect HK-listed tech to continue getting bought. Alibaba, Tencent, Xiaomi, etc are safe havens against Trump tariffs as they don't compete in the US.


HK Connect SOUTHBOUND Flows (To 15 Nov 2024); Tech Bought, High-Div SOEs Sold or Ignored, Again

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of November 8th.</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, Xiaomi, Alibaba, HKEx, CCB, SMIC.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of November 8th.
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, Xiaomi, Alibaba, HKEx, CCB, SMIC.


Hong Kong Connect Flows (Nov 8th): Tencent, Xiaomi, Alibaba, HKEx, CCB, SMIC

Hong Kong

Hang Seng Investment Index Funds Series - Hang Seng China Enterprises Index ETF is an exchange-traded fund established in Hong Kong.  The Fund's objective is to  provide investment returns that match the performance of the Hang Seng China En terprisesIndex (H-Share Index).  The Fund invests in constituent stocks of the H -Share Index.

Price Gauge
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Hang Seng H Share Index ETF (2828 HK)

Hong Kong Connect Flows (November): Top Monthly Inflows in 12 Months

We analyzed the Hong Kong Connect Scheme for November and highlighted flows for Alibaba, Tencent, Xiaomi, CCB, Ping An, PICC P&C, BYD, CNOOC.

Ke Yan, CFA, FRM

HK Connect SOUTHBOUND Flows (To 29 Nov 2024); SB Trading Volumes Lower, Still Strong Net Buying Tech

SOUTHBOUND volumes fell again this week to the lowest in months but net flows continue to be strong. This week was all about tech.

Travis Lundy

Hong Kong Connect Flows (Nov 15th): Alibaba, Xiaomi, SMIC, Tencent, Ping An Insurance, HKEx, CNOOC

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Alibaba, Xiaomi, SMIC, Tencent, Ping An Insurance, HKEx,...

Ke Yan, CFA, FRM

HK Connect SOUTHBOUND Flows (To 15 Nov 2024); Tech Bought, High-Div SOEs Sold or Ignored, Again

SOUTHBOUND continues to be a big net buyer of HK stocks. It is possible investors are looking to cheap tech, possible they are looking to buybacks....

Travis Lundy

Hong Kong Connect Flows (Nov 8th): Tencent, Xiaomi, Alibaba, HKEx, CCB, SMIC

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Tencent, Xiaomi, Alibaba, HKEx, CCB, SMIC.

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)