Index Rebal Trades & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal Trades & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

<ul>
<li>The HSTECH Index tracks the performance of the top 30 technology companies listed in Hong Kong that have high business exposure to certain technology themes.</li>
<li>In this insight, we take a look at the flow expectations for the June 2025 index rebal event.</li>
<li>We expect no index changes for June 2025 but we estimate there to be US$1.53bn in one-way flows which translates to a turnover of 7.4%.</li>
</ul>


The HSTECH Index tracks the performance of the top 30 technology companies listed in Hong Kong that have high business exposure to certain technology themes.
In this insight, we take a look at the flow expectations for the June 2025 index rebal event.
We expect no index changes for June 2025 but we estimate there to be US$1.53bn in one-way flows which translates to a turnover of 7.4%.


Quiddity Leaderboard HSTECH Jun25: US$1.5bn One-Way; Large Inflow for Net Ease

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 analyzed the latest HK SFC report for aggregate short position as of Apr 3rd.</li>
<li>Top short increases and decreases were tabulated for one week and four week period. </li>
<li>We highlight short changes in Tracker Fund, Pop Mart, Beigene, Hscei Etf, Xiaomi.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Apr 3rd.
Top short increases and decreases were tabulated for one week and four week period. 
We highlight short changes in Tracker Fund, Pop Mart, Beigene, Hscei Etf, Xiaomi.


HK Short Interest Weekly: Pop Mart, Beigene, Xiaomi

<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 flows of Alibaba, China Mobile, Xiaomi, Guotai Junan, Ke.</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 flows of Alibaba, China Mobile, Xiaomi, Guotai Junan, Ke.


Hong Kong Connect Flows (March): $24 Bn Monthly Inflows

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of March 28th.</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 Xiaomi, CMB, Meituan, Ke, Li Auto, Tencent, BYD Electronic, SMIC, HKEx, Alibaba.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of March 28th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Xiaomi, CMB, Meituan, Ke, Li Auto, Tencent, BYD Electronic, SMIC, HKEx, Alibaba.


HK Connect Flows Weekly (Mar 28th): Xiaomi, CMB, Meituan, Ke, Li Auto, Tencent, BYD Electronic, SMIC

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/nio-inc-2d526675-c878-4104-840f-87fed1735e85" target="_blank" data-smartkarma-citation="entities:35652:1" rel="noopener">NIO (9866 HK)</a> is looking to raise around US$450m via a primary placement in Hong Kong.</li>
<li>The shares haven’t done much this year or ever since they were listed.</li>
<li>In this note, we will talk about the placement and run the deal through our ECM framework.</li>
</ul>



NIO (9866 HK) is looking to raise around US$450m via a primary placement in Hong Kong.
The shares haven’t done much this year or ever since they were listed.
In this note, we will talk about the placement and run the deal through our ECM framework.


NIO HK Placement - Lots of Reasons to Avoid and Only One to Invest

China

Li Auto Inc. manufactures automobiles. The Company designs, develops, and sells smart new energy electric sport utility vehicles. Li Auto conducts businesses in China.

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Li Auto (2015 HK)

Quiddity Leaderboard HSTECH Jun25: US$1.5bn One-Way; Large Inflow for Net Ease

Collectively, we expect more than US$1bn index inflows for NetEase (9999 HK), Baidu (9888 HK), Trip.com Group (9961 HK), and NIO (9866 HK) from...

Janaghan Jeyakumar, CFA

HK Short Interest Weekly: Pop Mart, Beigene, Xiaomi

We analyzed the latest HK SFC report for aggregate short position as of Apr 3rd and highlight short interest changes in Tracker Fund, Pop Mart,...

Ke Yan, CFA, FRM

Hong Kong Connect Flows (March): $24 Bn Monthly Inflows

We analyzed the Hong Kong Connect Scheme for March and highlighted flows for Alibaba, China Mobile, Xiaomi, Guotai Junan, Ke.

Ke Yan, CFA, FRM

HK Connect Flows Weekly (Mar 28th): Xiaomi, CMB, Meituan, Ke, Li Auto, Tencent, BYD Electronic, SMIC

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Xiaomi, CMB, Meituan, Ke, Li Auto, Tencent, BYD...

Ke Yan, CFA, FRM

NIO HK Placement - Lots of Reasons to Avoid and Only One to Invest

NIO (9866 HK) is looking to raise around US$450m via a primary placement in Hong Kong. In this note, we talk about the deal dynamics.

Sumeet Singh

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52-week Range

Market Cap (USDm)

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