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 146 stocks over the last week. The average A-H premium was 104.4% as of Jul 5th.</li>
<li>The average A-H premium changed by -1.2ppt week-on-week, led by consumer staples, information technology, health care and offset by communication services, real estate.</li>
<li>We highlight weekly changes in A-H premium for China Tourism, Ganfeng Lithium, China East Air, Petrochina.</li>
</ul>


We analyse the changes of A-H premium on 146 stocks over the last week. The average A-H premium was 104.4% as of Jul 5th.
The average A-H premium changed by -1.2ppt week-on-week, led by consumer staples, information technology, health care and offset by communication services, real estate.
We highlight weekly changes in A-H premium for China Tourism, Ganfeng Lithium, China East Air, Petrochina.


A-H Premium Weekly (Jul 5th): China Tourism, Ganfeng Lithium, China East Air, Petrochina

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>The New/Better A-H Premium Tracker has tables, charts, measures galore to track A/H premium positioning, southbound and northbound positioning/volatility in pairs over time, etc.</li>
<li>SOUTHBOUND's consecutive buying streak ended on Monday 25-March, then started again. 20 days straight net buying. NORTHBOUND saw big inflows Friday. A record day I believe.</li>
<li>HK stocks bounced VERY hard. Seemed like big allocation trade. HSCEI +8.7% vs CSI300 +1.2%. In H/A Pairs, liquid pairs saw Hs outperform their A by 4+% on average.</li>
</ul>


The New/Better A-H Premium Tracker has tables, charts, measures galore to track A/H premium positioning, southbound and northbound positioning/volatility in pairs over time, etc.
SOUTHBOUND's consecutive buying streak ended on Monday 25-March, then started again. 20 days straight net buying. NORTHBOUND saw big inflows Friday. A record day I believe.
HK stocks bounced VERY hard. Seemed like big allocation trade. HSCEI +8.7% vs CSI300 +1.2%. In H/A Pairs, liquid pairs saw Hs outperform their A by 4+% on average.


A/H Premium Tracker (To 26 Apr 2024):  Best Week in a LONG Time for Hs Vs As - Time To Get Long H/A

<ul>
<li>The New/Better A-H Premium Tracker has tables, charts, measures galore to track A/H premium positioning, southbound and northbound positioning/volatility in pairs over time, etc.</li>
<li>SOUTHBOUND a net buyer <em>every day</em> since the end of Chinese New Year. NORTHBOUND a huge net buyer this week, now net buyers in size (RMB +93bn) over 7 weeks.</li>
<li>For the first time in a while, AH premia among liquid stocks fell convincingly. Narrow AH premia pairs saw Hs outperform more than wide AH premia Hs (vs As).</li>
</ul>


The New/Better A-H Premium Tracker has tables, charts, measures galore to track A/H premium positioning, southbound and northbound positioning/volatility in pairs over time, etc.
SOUTHBOUND a net buyer every day since the end of Chinese New Year. NORTHBOUND a huge net buyer this week, now net buyers in size (RMB +93bn) over 7 weeks.
For the first time in a while, AH premia among liquid stocks fell convincingly. Narrow AH premia pairs saw Hs outperform more than wide AH premia Hs (vs As).


A/H Premium Tracker (To 15 Mar 2024):  Liquid AH Premia Starting to Narrow

<ul>
<li>We analyse the changes of A-H premium on 146 stocks over the last week. The average A-H premium was 129.8% as of Feb 9th.</li>
<li>The average A-H premium changed by 6.2ppt week-on-week, led by health care, materials, real estate and offset by consumer discretionary, communication services.</li>
<li>We highlight weekly changes in A-H premium for Zijin Mining, Conch Cement, China Vanke, Air China, Shandong Gold, RemeGen, CICC, Shanghai Junshi.</li>
</ul>


We analyse the changes of A-H premium on 146 stocks over the last week. The average A-H premium was 129.8% as of Feb 9th.
The average A-H premium changed by 6.2ppt week-on-week, led by health care, materials, real estate and offset by consumer discretionary, communication services.
We highlight weekly changes in A-H premium for Zijin Mining, Conch Cement, China Vanke, Air China, Shandong Gold, RemeGen, CICC, Shanghai Junshi.


A-H Premium Weekly (Feb 9th): Zijin Mining, Conch Cement, China Vanke, Air China, Shandong Gold

<ul>
<li>We analyse the changes of A-H premium on 146 stocks over the last week. The average A-H premium was 124.1% as of Feb 2nd.</li>
<li>The average A-H premium changed by -5.6ppt week-on-week, led by consumer staples, information technology, industrials and offset by utilities.</li>
<li>We highlight weekly changes in A-H premium for Haier Smart, Wuxi Apptec, BOC, CGN Power, SMIC, Huaneng Power, China Longyuan.</li>
</ul>


We analyse the changes of A-H premium on 146 stocks over the last week. The average A-H premium was 124.1% as of Feb 2nd.
The average A-H premium changed by -5.6ppt week-on-week, led by consumer staples, information technology, industrials and offset by utilities.
We highlight weekly changes in A-H premium for Haier Smart, Wuxi Apptec, BOC, CGN Power, SMIC, Huaneng Power, China Longyuan.


A-H Premium Weekly (Feb 2nd): Haier Smart, Wuxi Apptec, BOC, CGN Power, SMIC, Huaneng Power

China

Jiangsu Expressway Co. Ltd. is primarily engaged in the investment, construction, operation, and management of toll roads and bridges in Jiangsu Province, China. The company also provides ancillary services such as gas stations, catering, retail, advertising, and real estate development in expressway service areas. It was founded in 1992 and is headquartered in Nanjing, China.

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

Jiangsu Expressway (177 HK)

A-H Premium Weekly (Jul 5th): China Tourism, Ganfeng Lithium, China East Air, Petrochina

We analyzed A-H premium changes in the past week and highlight A-H premium changes for China Tourism,Ganfeng Lithium,China East Air,Petrochina.

Ke Yan, CFA, FRM

A/H Premium Tracker (To 26 Apr 2024): Best Week in a LONG Time for Hs Vs As - Time To Get Long H/A

AH Premia have finally turned a corner. Weeks of bouncing back and forth has led to lower premia, especially on average as wider spreads narrow...

Travis Lundy

A/H Premium Tracker (To 15 Mar 2024): Liquid AH Premia Starting to Narrow

AH Premia narrowed more on liquid narrow premia than on less liquid and wide premia. This is a new development. Energy and Utilities saw Hs rebound...

Travis Lundy

A-H Premium Weekly (Feb 9th): Zijin Mining, Conch Cement, China Vanke, Air China, Shandong Gold

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Zijin Mining, Conch Cement, China Vanke, Air China, Shandong...

Ke Yan, CFA, FRM

A-H Premium Weekly (Feb 2nd): Haier Smart, Wuxi Apptec, BOC, CGN Power, SMIC, Huaneng Power

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Haier Smart, Wuxi Apptec, BOC, CGN Power, SMIC, Huaneng...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)