Index Rebal/Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal/Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

Zijin Gold International / Index Rebalance

<ul>
<li>The Hang Seng Index is the benchmark index for Hong Kong stocks. It follows a highly subjective selection process which makes it difficult to predict index changes.</li>
<li>In this insight, we take a look at a group of names with a reasonably high likelihood of being involved in index changes during the next review in June 2026.</li>
<li>The index changes are expected to be confirmed on 22nd May 2026.</li>
</ul>


The Hang Seng Index is the benchmark index for Hong Kong stocks. It follows a highly subjective selection process which makes it difficult to predict index changes.
In this insight, we take a look at a group of names with a reasonably high likelihood of being involved in index changes during the next review in June 2026.
The index changes are expected to be confirmed on 22nd May 2026.


Quiddity Leaderboard Hang Seng Index Jun26: BeOne, Zijin, Cosco Shipping Among Our Top 10 Picks

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 analyze the weekly Hong Kong Connect flows with our data engine for holding position as of May 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 Tencent, China Mobile, Meituan, PICC P&amp;C, Kuaishou, Petrochina, Zijin Mining, Hua Hong Semiconductor, Xiaomi, Ping An Insurance.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of May 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 Tencent, China Mobile, Meituan, PICC P&amp;C, Kuaishou, Petrochina, Zijin Mining, Hua Hong Semiconductor, Xiaomi, Ping An Insurance.


HK Connect Flows Weekly (May 15th): Tencent, China Mobile, Meituan, PICC P&C, Kuaishou, Petrochina

AI | Semiconductors | Commodities, Mint Finance

Raghav Vashisht

AI | Semiconductors | Commodities

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

Equity Bottom-Up

<ul>
<li>NVIDIA leads China's urban NoA chip market at 49% share, but export controls and domestic companies' in-house chip savings of over $1000 per vehicle would force dual-sourcing across Chinese OEMs.</li>
<li>XPeng's Turing chip outperforms Orin X in effective AI compute. VW has licensed its full ADAS stack, and XPeng is now eyeing European manufacturing to compress/threaten Nvidia's Western stronghold.</li>
<li>Beyond SDVs, Nvidia's highest-conviction bet looks to be infrastructure: Uber robotaxi partnership, BYD/Geely OEM additions, and its Physical AI Data Factory position it as the simulation layer beneath the fleets.</li>
</ul>


NVIDIA leads China's urban NoA chip market at 49% share, but export controls and domestic companies' in-house chip savings of over $1000 per vehicle would force dual-sourcing across Chinese OEMs.
XPeng's Turing chip outperforms Orin X in effective AI compute. VW has licensed its full ADAS stack, and XPeng is now eyeing European manufacturing to compress/threaten Nvidia's Western stronghold.
Beyond SDVs, Nvidia's highest-conviction bet looks to be infrastructure: Uber robotaxi partnership, BYD/Geely OEM additions, and its Physical AI Data Factory position it as the simulation layer beneath the fleets.


NVIDIA & SDVs: Full-Stack Headwinds Vs Physical AI Opportunity

<ul>
<li>We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on May 15th based on HKEx daily reports.</li>
<li>In the past 7 days, the top 3 companies that repurchased the most shares from the market were China Hongqiao (1378 HK), AIA (1299 HK), Geely Automobile (175 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were AIA (1299 HK), China Hongqiao (1378 HK), Xiaomi (1810 HK).</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on May 15th based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were China Hongqiao (1378 HK), AIA (1299 HK), Geely Automobile (175 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were AIA (1299 HK), China Hongqiao (1378 HK), Xiaomi (1810 HK).


Hong Kong Buybacks Weekly (May 15th): China Hongqiao, AIA, Geely Automobile, East Buy

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of Apr 30th.</li>
<li>Top short increases and decreases were tabulated for one week and four week period.</li>
<li>We highlight short changes in CATL, Alibaba, CMB, Xiaomi, Wuxi Apptec, Petrochina.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Apr 30th.
Top short increases and decreases were tabulated for one week and four week period.
We highlight short changes in CATL, Alibaba, CMB, Xiaomi, Wuxi Apptec, Petrochina.


HK Short Interest Weekly: CATL, Alibaba, CMB, Xiaomi, Wuxi Apptec, Petrochina

China

Horizon Robotics develops artificial intelligence (AI) chips and software platforms for intelligent vehicles, focusing on self-driving cars and advanced driver assistance systems (ADAS). The company offers integrated solutions, including its Journey™ series AI processors and Brain Processing Unit (BPU) architecture. Horizon Robotics is headquartered in Beijing, China, and was founded in 2015.

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Horizon Robotics (9660 HK)

Quiddity Leaderboard Hang Seng Index Jun26: BeOne, Zijin, Cosco Shipping Among Our Top 10 Picks

The Hang Seng Index June 2026 index review results will be publicly announced after market close on 22nd May 2026. In this insight, we have...

Janaghan Jeyakumar, CFA

HK Connect Flows Weekly (May 15th): Tencent, China Mobile, Meituan, PICC P&C, Kuaishou, Petrochina

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Tencent (700 HK), China Mobile (941 HK), Meituan (3690...

Ke Yan, CFA, FRM

NVIDIA & SDVs: Full-Stack Headwinds Vs Physical AI Opportunity

Despite Nvidia's automotive segment being 1% of revenue, it leads China's EV chip market. But in-house silicon, export risk, and XPeng's full-stack...

Mint Finance

Hong Kong Buybacks Weekly (May 15th): China Hongqiao, AIA, Geely Automobile, East Buy

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were China Hongqiao...

Ke Yan, CFA, FRM

HK Short Interest Weekly: CATL, Alibaba, CMB, Xiaomi, Wuxi Apptec, Petrochina

We analyzed the latest HK SFC report for aggregate short position as of Apr 30th and highlight short interest changes in CATL, Alibaba, CMB,...

Ke Yan, CFA, FRM

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