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 157 stocks over the last week. The average A-H premium was 61.1% as of Oct 17th.</li>
<li>The average A-H premium changed by 3.0ppt week-on-week, led by information technology, real estate, materials.</li>
<li>We highlight weekly changes in A-H premium for Hua Hong Semiconductor, Sinotrans, Shanghai Junshi Biosciences, China Southern Airlines.</li>
</ul>


We analyse the changes of A-H premium on 157 stocks over the last week. The average A-H premium was 61.1% as of Oct 17th.
The average A-H premium changed by 3.0ppt week-on-week, led by information technology, real estate, materials.
We highlight weekly changes in A-H premium for Hua Hong Semiconductor, Sinotrans, Shanghai Junshi Biosciences, China Southern Airlines.


A-H Premium Weekly (Oct 17th): Hua Hong Semiconductor, Sinotrans, Shanghai Junshi Biosciences

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of Oct 10th.</li>
<li>Top short increases and decreases were tabulated for one week and four week period.</li>
<li>We highlight short changes in Bidu, Hua Hong Semiconductor, Pop Mart Intl, Hang Seng Bank, Xiaomi.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Oct 10th.
Top short increases and decreases were tabulated for one week and four week period.
We highlight short changes in Bidu, Hua Hong Semiconductor, Pop Mart Intl, Hang Seng Bank, Xiaomi.


HK Short Interest Weekly: Bidu, Hua Hong Semiconductor, Pop Mart Intl, Hang Seng Bank, Xiaomi

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of October 17th.</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 SMIC, Alibaba, Xiaomi, Tencent, Pop Mart Intl, China Mobile, Meituan, Innovent Biologics, ICBC, Wuxi Biologics.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of October 17th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for SMIC, Alibaba, Xiaomi, Tencent, Pop Mart Intl, China Mobile, Meituan, Innovent Biologics, ICBC, Wuxi Biologics.


HK Connect Flows Weekly (Oct 17th): SMIC, Alibaba, Xiaomi, Tencent, Pop Mart Intl, China Mobile

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Fuyao Glass Industry Group / Event-Driven

<ul>
<li>Gross SOUTHBOUND volumes just over US$21bn a day in the four days spanning the long holiday break. Big. Quite decent net buying flows too though the market fell.</li>
<li>The recommended name was short <a href="https://www.smartkarma.com/entities/great-wall-motor-co-ltd-cb302af9-398c-4d2d-ba39-023e43287eef" target="_blank" data-smartkarma-citation="entities:128:1" rel="noopener">Great Wall Motor (2333 HK)</a>. The stock was +1% over two weeks, but underperformed its H by 0.52%. Great Wall is down 4+% today.</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 for all SK readers.</li>
</ul>


Gross SOUTHBOUND volumes just over US$21bn a day in the four days spanning the long holiday break. Big. Quite decent net buying flows too though the market fell.
The recommended name was short Great Wall Motor (2333 HK). The stock was +1% over two weeks, but underperformed its H by 0.52%. Great Wall is down 4+% today.
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 for all SK readers.


HK Connect SOUTHBOUND Flows (2wks To 10 Oct 2025); Big Pre/Post Holiday Flows. NB 2x as Big.

<ul>
<li>We analyse the changes of A-H premium on 157 stocks over the last week. The average A-H premium was 58.2% as of Oct 10th.</li>
<li>The average A-H premium changed by 1.9ppt week-on-week, led by real estate, financials, consumer discretionary and offset by utilities, information technology, communication services.</li>
<li>We highlight weekly changes in A-H premium for Cosco Shipping Development, Innocare Pharma, Shanghai Electric, SMIC, CIMC, Gf Securities.</li>
</ul>


We analyse the changes of A-H premium on 157 stocks over the last week. The average A-H premium was 58.2% as of Oct 10th.
The average A-H premium changed by 1.9ppt week-on-week, led by real estate, financials, consumer discretionary and offset by utilities, information technology, communication services.
We highlight weekly changes in A-H premium for Cosco Shipping Development, Innocare Pharma, Shanghai Electric, SMIC, CIMC, Gf Securities.


A-H Premium Weekly (Oct 10th): Cosco Shipping Development, Innocare Pharma, Shanghai Electric, SMIC

China

Hua Hong Semiconductor is a global pure-play semiconductor foundry specializing in embedded/standalone non-volatile memory, power discrete, analog & power management, and logic & RF technologies. The company provides diversified wafer fabrication and supporting services for various specialty process platforms. It is headquartered in Shanghai, China, and was founded in 2005.

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Hua Hong Semiconductor (1347 HK)

A-H Premium Weekly (Oct 17th): Hua Hong Semiconductor, Sinotrans, Shanghai Junshi Biosciences

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Hua Hong Semiconductor, Sinotrans, Shanghai Junshi...

Ke Yan, CFA, FRM

HK Short Interest Weekly: Bidu, Hua Hong Semiconductor, Pop Mart Intl, Hang Seng Bank, Xiaomi

We analyzed the latest HK SFC report for aggregate short position as of Oct 10th and highlight short interest changes in Bidu, Hua Hong...

Ke Yan, CFA, FRM

HK Connect Flows Weekly (Oct 17th): SMIC, Alibaba, Xiaomi, Tencent, Pop Mart Intl, China Mobile

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for SMIC (981 HK), Alibaba (9988 HK), Xiaomi (1810 HK),...

Ke Yan, CFA, FRM

HK Connect SOUTHBOUND Flows (2wks To 10 Oct 2025); Big Pre/Post Holiday Flows. NB 2x as Big.

This is just to keep track of the Southbound flows. There were two days in the previous week and two days last week spanning the big holiday. HK...

Travis Lundy

A-H Premium Weekly (Oct 10th): Cosco Shipping Development, Innocare Pharma, Shanghai Electric, SMIC

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Cosco Shipping Development, Innocare Pharma, Shanghai...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)